What is Petals (PTS)

What is Petals?

Petals is a Web3 short-video creation and social platform that aims to facilitate value transfer and fair distribution for all users. It empowers content consumers, content creators, service providers, advertisers, and all other stakeholders to create value and generate their own wealth. Petals seeks to break down the barriers of traditional social media platforms and build a value-driven Web3 short-video new economic ecosystem using blockchain technology as its underlying logic engine.

Stanislav Sosimovych, the Founder of Petals

Stanislav Sosimovych, the founder of Petals, is proficient in using tools like Golang, Python, and Kubernetes to handle complex real-time data streams. He is well-versed in interacting with underlying DeFi primitives and synchronizing multi-chain operations. Stanislav has a background as a Scrum master for a mid-sized team, giving him rich CI/CD knowledge and smart contract development experience. He has been consistently dedicated to the construction of the DeFi community.

Petals’ Roadmap

Petals’ native token, $PTS, was launched on the globally renowned digital asset exchange Gate.io in 2022. In August 2022, Petals introduced an advertising evaluation system and mechanism, allowing creators to convert videos into NFTs for trading. In the first half of 2023, they plan to officially launch an advertising auction system and open-source their algorithms to enhance user data transparency and privacy. By 2024, Petals aims to establish its application chain to improve user experience and operate entirely decentralized in the form of a DAO.

Petals Ecosystem

The ecosystem of Petals short video system is collectively built by all users, using AI algorithms to improve system efficiency. It consists of five main parts: content consumers, content creators, backend service providers, AI algorithms, and advertisers.

Ecosystem distribution of Petals](https://petals.video/Petals_Whitepaper）

Content Consumers: Users can earn Petals rewards by providing data for algorithm suggestions through a series of valuable user behaviors such as watching, following, commenting, liking, and sharing. They can also earn Petals rewards by watching advertisements.

Content Creators: Creators can earn some of the advertising revenue generated by their high-quality NFT video works. In addition, users will receive full rewards from content consumers.

Backend Service (Server) Providers: By providing distributed content storage to Petals, adding new server nodes, and updating in real-time, along with maintaining video content and video information, the providers earn incomes. Their revenue is mainly divided into delivery income and storage income.

• Delivery income: When a client requests content from a server, the server correctly delivers the content, and the client pays a certain amount of tokens to verify the download.

• Storage income: Servers mutually verify the accuracy of stored files, recommendation algorithms, and other strategies, similar to Filecoin’s storage mining design.

Algorithm Providers: Algorithm providers design open-source algorithms for Petals and establish a credit evaluation system for content creators and advertisers. They also design open and transparent video review algorithms, video recommendation algorithms, advertising strategies, and bidding algorithms. Once the suggestions of the algorithm providers are accepted and adopted by Petals, the provider will receive a portion of the advertising revenue as a reward.

Advertisers: Advertisers can purchase Petals and bid for ad placements. The highest bidder gains the opportunity to display their advertisements. Ad agencies undergo a rigorous credit system evaluation and voluntarily conduct preliminary reviews of some advertising content.

Petals DAO: Petals DAO is a decentralized autonomous organization built by all participants. By holding Petals tokens and voting, participants can influence the entire ecosystem’s reward distribution, upgrade the credit evaluation system, select recommendation algorithms, review algorithms, and advertising system algorithms.

$PTS Token Distribution Model

The total supply of PTS tokens: Initially, 100,000,000,000 PTS tokens were minted, with most of them being locked for a long term. They will gradually unlock and be released over the next five years.

Token distribution ratio:

• Community: 16% linearly released over one year
• DAO: 64% locked for one year, then linearly released over four years
• Team: 13.5% linearly released over three years
• Seed round: 5% linearly released over two years
• Advisors: 1% linearly released over one year
• Airdrop: 0.5% fully released at TGE (Token Generation Event)

$PTS Token Distribution Chart

PTS Token Rewards

• For Content Creators: Anyone can upload their own short videos, and Petals will reward content creators with PTS tokens.

• For Algorithm Providers: Everyone gets the same content from creators. Users can switch to any algorithm provider anytime, determining ads, traffic, and content preferences. The more an algorithm is used, the more tokens the algorithm provider will receive.

• For Service Node Providers: They will host short videos, maintain connections and reverse index interactions between Petals nodes, store transactions and contributions, and other permanent data. They will use transparent algorithms to tag creators and content, implement a user-controllable recommendation system, and more.

How to Obtain $PTS Tokens?

If you want to obtain $PTS tokens, you can purchase them through cryptocurrency exchanges. For instance, the reputable Gate.io exchange supports the purchase of $PTS. You need to create a Gate.io account and complete the KYC process, fund your account, and then you can directly purchase $PTS tokens.

Conclusion

Petals aims to rebuild a decentralized Web3 short video platform where every user has full control over their data, and public data is genuinely open to everyone. Content creators can monetize directly through tokens and protect their copyright earnings through Web3 decentralization, enhancing the ownership of their content.

The Petals protocol promises that both content creators and consumers can generate value and accumulate wealth with backend service providers or advertisers. The distribution of rewards within Petals is entirely based on smart contracts and user behavior within the Petals App. It’s a highly transparent process managed by the Petals DAO, which is composed of community members. Although the Web3 creator economy is still in its early stages and may face challenges during its development, its subtle emergence suggests that Petals could significantly contribute to the Web3 era in the long term.