LIKE Token Utility

The currency of Web3 social

For over a decade, creators have seen Likes👍 as their social media currency. Now, LIKE is the platform utility token on Solana, shaping the creator economy's future.

Utility

Buyback & burn 🔥

The platform's goal is to help creators monetize their content while rewarding users with tokens of sustainable value. It achieves this through a buyback and burn mechanism fueled by platform revenue. In 2022, Only1 generated over $4 million in sales through its NFT launchpad, while Patreon and OnlyFans collectively earned over $3 billion. With upcoming Web3 features, Only1 aims to give creators a competitive edge. Quarterly, 20% of platform profits will be used to buy back LIKE tokens, with a portion used for community rewards and the rest burned. This process will continue until 50% of the token supply is destroyed. For instance, if quarterly spending is $100,000 and revenue is $400,000, the platform will buy back LIKE tokens for $300,000 based on the profit margin and burn a portion accordingly.

Community reward

Users are rewarded on the platform through creator staking pools and event-based airdrops to drive engagement and adoption. Initially, the reward token comes from the community token pool (More details on: Token Allocation). As the platform grows and generates quarterly profit, rewards will be funded through quarterly buyback.