Tokenomics is the study of how a utility token operates within a platform. The value of digital assets is determined by their supply and demand dynamics; when demand exceeds supply, prices increase.

To sustain the value of the platform's native token, deflationary factors must outweigh inflationary ones. Additionally, the platform must offer value beyond token rewards to users. In essence, platform's revenue-driven token buybacks should exceed the token outflow for user rewards. In addition to implementing a buyback mechanism, there should be additional utilities that confer direct usage of the token within the application. This all is, Only1's vision for LIKE.

Read more about LIKE utilities, or dive into LIKE's tokenomics below:

1. Basic Information

2. Release Schedule

3. Token Allocation

4. Wallets

LIKE token Information

• Token Name: Only1

• Ticker: LIKE

• Blockchain: Solana

• Total Supply: 500,000,000

• Contract Address: 3bRTivrVsitbmCTGtqwp7hxXPsybkjn4XLNtPsHqa3zR

• Listed CEX: Kucoin, HTX, Gate, MEXC, AscendEX, Raydium DEX

Fans holding any creator's Passes can list them on the creator's marketplace at a chosen price for other fans to purchase. The 'Buy' price is determined by the lowest listed pass price, whether it's from the creator's remaining passes or a listing by other users.

Features

• Freely transferable: Pass holders can resell passes on the marketplace or freely transfer them

• Manage: Passes can be listed or delisted on the marketplace at any time

• Minimal fees: Pass sellers keep 90% of the sales value

Marketplace fee structure

When a Pass is sold on the marketplace, earnings are shared among three parties: the holder, the platform, and the initial creator of the Pass.

Only1 provides creators with various CRM tools such as account permissions for multiple account management and earnings split to enhance workflow. Only1 also offers earnings and fan analytics to provide insight into identifying and engaging with loyal, paying fans.

Features

• Account Permissions: Allows creators to bring in multiple staff members to help with their workflow

• Earn split: Allows real-time revenue payouts to staff or agencies to ensure maximum trustlessness

• User analytics: Provides in-depth information about paying and loyal users

Members can access direct message with creators. Fans can send tips in USDC or gifts with instant payout to creator, they can also send media files such as photos or videos.

Features

• Membership filter: Creators can filter chats based on membership type to selectively respond to paying supporters

• Broadcast message: Creators can broadcast message to all their followers or members

• [Coming Soon] Pay-per-view (PPV) Content: Creators can send content that can be unlocked by paying

• Tipping: Creators can set up a pricing menu in their bios, allowing fans to pay directly for perks like custom videos via tips

• [Coming Soon] Gifts: Fans can send tips in the form of virtual gifts. E.g.

PPV & tips fee structure

Creators pay 20% on completed PPV (Pay-per-view) sales and 10% platform fee from tips received through Messenger

What is Only1?

Only1 is a next-generation membership-based social platform that redefines the way creators and fans connect. It ensures non-custodial, instant payments while providing a suite of tools for creators to optimize workflow and enhance revenue.

Only1 offers two membership types. In addition to traditional, monthly recurring subscriptions, Only1 has introduced Passes—lifelong, no-renewal, premium memberships.

LIKE - Only1's utility token

Be part of the innovative creator platform that strives to redefine the creator economy. Only1 provides creators and fans alike with a one-of-a-kind platform experience while harnessing the power of decentralization and Web3. Thus, LIKE is the creator platform utility token on Solana, shaping the future of the creator economy. LIKE Utilities:

• Buyback: 20% of the company profit will be used to buy LIKE quarterly

• Creator Staking: Fans stake their LIKE on favourite creators for APY

• Community Reward: Seasonal airdrops and more based on platform activities

For Creators

Creators can earn by launching two membership types to share exclusive content and receive tips from direct messages. Additionally, Only1's native CRM tools such as multi-account management and analytics help creators simplify and optimize workflow and revenue.

• Passes: Lifelong, no-renewal memberships, limited by number & resell-able by holders

• Subscription: Peer-to-peer monthly recurring memberships

• Self-Custodial: Funds move almost instantly from fans to creator and no platform or payment processor will hold custodial of them

• CRM: Creators access tools for workflow boost, such as multi-account management, media vault & fan analytics

For Fans

Fans can join different memberships to access exclusive content and direct message their favorite creators. Fans can also leverage our AI explore engine to discover content and creators.

• Social Login: Log-in with social account. Upon log-in, a web3 wallet is created and linked

• Explore : Discover content. Find interesting photos, videos and accounts. Powered by OpenAI CLIP

• Messenger: Send tips, gifts, private messages, photos, videos and gifs to creators through the messenger

• Pay with Card/Phone: Top-up USDC through Credit Card, Apple/Google Pay & more

• Marketplace: Pass holders can re-sell Passes and users can purchase Passes on the marketplace

• Gasless transaction: Purchasing memberships on Only1 does not incur any network fees

How is Only1 better than Patreon or OnlyFans?

The Explore page serves as a discovery hub, aiding in finding interesting photos, clips and accounts! Platform users can enter whatever they are looking for into search to explore new content on Only1. The content search is based on OpenAI CLIP — a visual concept LLM.

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.

The primary payment currency on Only1 is USDC (Solana), a stablecoin pegged to the U.S dollar. Users can top up their Only1 wallets internally with USDC via our fiat-on-ramp partner Alchemy. Alchemy supports over +25 local currencies and various payment methods, including Credit Card (Visa/Mastercard), Google Pay, and Apple Pay, depending on the user's location.

As gasless transactions eliminate the need to top up SOL for gas fees, topping up USDC alone is sufficient to fully interact within the platform.

Launch

• $3.5m venture funding from

• $4m sales from proof-of-concept NFT launches for creators

• Secured developer grant from

• Smart contract audited by

Tokenomics

• CEX listing on Kucoin, HTX, MEXC, Gate, AscendEX

• Update 2023

• Buyback & Burn (see )

Innovation

• Collectible membership, or

• Passes

• Referral link

• Gasless transation

• Web3

Growth

• Web3 creator launch partner signed

• First 100 creators onboarded

• First $1m sales

• Talent agency partnerships

• Native mobile application

Monthly Token Release

Cumulative Monthly Vested Tokens

On Only1, users can log in with social accounts such as Gmail, Discord, X, Reddit, etc.

Upon logging in with social accounts, a wallet is created and linked to the profile within seconds. This wallet is non-custodial, and a generated private key can be exported to access the wallet's funds even if access to the social login is lost.

The wallet system is built on Web3Auth, a Web3 wallet provider. Its SDK operates only on the user's front-end and manages interactions between OAuth providers and the Auth Network. This ensures that the private key is not stored. The only stored data is an anonymized identifier from OAuth or JWT, essential for linking within the infrastructure.

Only1 provides two membership types for creators to earn: Passes and Subscriptions. Passes are lifelong, no-renewal, premium memberships, whereas Subscriptions are traditional monthly recurring memberships. Creators can launch either or both on Only1 for free, with no hidden up-front platform fee or sign-up cost.

Passes

Passes are lifelong, premium memberships that grant permanent access to exclusive content. Fans purchase passes and can resell them on the marketplace or transfer them freely.

Features

• Limited: Creators can limit pass availability to increase rarity and exclusivity

• Freely transferable: Pass holders can resell passes on the marketplace or freely transfer them

• Zero-Cost: Creating passes is free and takes just 30 seconds to launch

Subscriptions

Subscriptions are monthly memberships. Fans access exclusive content and direct messages as long as they continue their monthly payments. Subscriptions are recurring monthly, without the need for re-signing or frontloading.

Features

• Non-Custodial: Subscription fees are paid directly to the content creator

• Gas-free: SOL is no longer required to pay network fees; both transaction and purchase fees can now be paid with USDC

• Anonymity: Unlike typical subscriptions, subscriptions on Only1 are peer-to-peer and offer greater anonymity

Membership Fee Structure

Creators pay 20% on Passes primary sale and monthly subscription sales. Fees for secondary pass sales by users on the marketplace vary. More details on: Marketplace

When interacting with programs/contracts on blockchains such as Solana, network fees (gas) are paid to execute transactions. To enhance the user experience, Only1 has integrated a relayer system whereby relayers pay the transaction fees in SOL for users on the platform. This means that users no longer have to worry about gas fees or topping up SOL as fees are paid natively in USDC. Topping up only USDC is sufficient to fully interact within the platform.

Gasless transaction - Functional principle