Audius (AUDIO)

 Basics

• Announced on:
• Mainnet release:
• Based in:
• From CoinDesk (29-10-2020):

"Audius occupies a similar space to popular music players like Pandora or Spotify, but it allows artists to set their own terms. It also lets other developers make use of its underlying content."

Token

Launch

• From The Defiant (27-10-2020):

"The music streaming platform with 800k active users on Friday launched its AUDIO token, distributing 50M tokens to its top 10k power users. The token was launched on Friday morning prior to being on the front page of Twitch for a RAC and deadmau5 concert. Longtime users got an average of 5k AUDIO (~$750 at publishing time) dropped in their accounts, with the most active users taking roughly 60k tokens each (~$9k at publishing time), according to a Medium post. The drop is 5% of the initial 1B token supply."

Token allocation

• From The Defiant (27-10-2020):

"The team and advisors, a group of around 80 people, will hold 40.6% of the tokens. Investors who participated in the company’s $9M funding rounds, including Binance Labs, Standard Crypto, Hack VC, and Free Co, will receive 36% of the tokens. The project’s Treasury, which is meant to be controlled by Audius holders, will hold 17.8%. 120M AUDIO will be in circulation at launch. Team, advisor and investor tokens will start unlocking six months after launch.

AUDIO has an annual issuance rate of 7%, used to continually reward the protocol’s most active users. Issuance will originally be funneled to service providers who stake AUDIO to secure the protocol, which is being migrated to mainnet from testnet."

Utility

• From CoinDesk (29-10-2020):

"Audius node operators and artists use the AUDIO token to stake, allowing for different functions on the network. Staking and governance functionality will remain on Ethereum."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum and Solana

Layer Two

• From CoinDesk (29-10-2020):

"Audius announced Thursday it will migrate its content management system over to Solana’s high-speed blockchain from an Ethereum sidechain operated by the POA Network that runs on a set of trusted validators. Staking and governance functionality will remain on Ethereum. Audius expects the migration to happen in three phases, wrapping up in the second quarter of 2021." 

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Usage

• From The Defiant (27-10-2020):

"The music streaming platform with 800k active users on Friday launched its AUDIO token, distributing 50M tokens to its top 10k power users. This makes it one of the most active blockchain projects, as it compares with 35k users on Uniswap and 6k users on Compound Finance, according to DappRadar."

• From CoinDesk (29-10-2020):

"Audius reports strong recent growth in users, currently boasting 800,000 active users and over 150,000 tracks available for streaming."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Roneil Rumburg; CEO

Funding

• From CoinDesk (29-10-2020):

"The company behind the platform has raised $9.8 million to date, according to Rumburg, over two rounds. The first in 2018 was led by General Catalyst and Lightspeed; the second in 2020 was led by Multicoin and Blockchange." Multicoin also invested in Solana.