Muse Litepaper

This whitepaper/originating information accuracy is in no way endorsed by Curious Cosmonaut Research. This paper’s content was aggregated from their website here on 1/13/2023 as part of a series to make content more accessible from one place in Cosmos.

Litepaper

Why MUSE?

The pandemic has been extremely detrimental to classical, historical and roots musical traditions—musicians are leaving their profession in droves because they can no longer support themselves within their fields, and many music institutions that were already struggling prior to the pandemic now face an even bleaker future.

Furthermore, the majority of institutions receiving patronage to employ and salary musicians often have considerable overhead expenses that can result in a lack of clarity as to where these resources actually end up — regardless (or even in spite of) the patron’s initial intent to directly support the artists themselves.

In response to these problems, MUSE is creating the first DeFi asset for musicians, to be distributed directly without the need of centralized institutions, unlocking entirely new opportunities for musicians to earn and grow wealth  –regardless of the societal or institutional challenges they may face– so these profoundly meaningful art forms and the artists who represent them can thrive for generations to come.

How it Works

MUSE is responsible for developing the protocol that distributes the digital asset $MUSE. The purpose of $MUSE is to facilitate a global ecosystem of grassroots live art performance, rewarding both those who perform as well as those who provide physical space, organize events, and gather audiences.

Value is generated and distributed within the MUSE ecosystem through two simple protocols:

$MUSE Airdrops — a digital asset awarded to musicians and curators

• In reward for performing and/or facilitating at least one in-person or virtual concert each month, MUSE-registered musicians and curators will receive a monthly allotment of $MUSE.

$MUSE Staking & LPing— incentivized acts of patronage

• MUSE member-patrons acquire and stake $MUSE to support all token-holding artists, growing the value of $MUSE and the MUSE ecosystem as a whole. By staking and providing liquidity, member-patrons receive regular rewards and incentives, including 5% APY and access to special performance events.

*Note: Musicians may also stake any $MUSE they receive, enabling them to take advantage of the same passive income opportunities as member-patrons

The MUSE Portal

The above protocols are executed through the MUSE portal. This portal, built on the Juno Network, provides the following user features:

FOR MUSICIANS

• Connect a Keplr wallet (Keplr is the native digital wallet of the Cosmos blockchain)
• Register for monthly $MUSE airdrops via proof-of-performance submissions
• Claim monthly airdrops
• Participate in MUSE voting

FOR MEMBER-PATRONS

• Connect a Keplr wallet
• Acquire, swap and stake $MUSE
• Claim staking rewards
• Participate in MUSE voting

About the Juno Network and Juno Tools

Juno is a relatively new blockchain built in the Cosmos ecosystem. Cosmos is among the most trusted and fastest growing crypto chains, and we have chosen to build on Juno because of its strong security features, and promising DeFi and smart contract capabilities.

Juno has recently released a set of tools that enable the operations required to run MUSE, including:

• DAO DAO - a tool used to create, deploy, manage and join MUSE
• JunoMint - token minting tool to create $MUSE
• JunoSwap - Juno’s DEX, used to acquire, swap and stake $MUSE
• JunoTools - a ‘Swiss Army knife’ offering the ability to create smart contracts and facilitate airdrops

From Patron ➢ Investor

Due to its specific use case, we are classifying $MUSE as a patron token: an emergent form of digital asset that uses the power of blockchain to effectively deploy resources for a regenerative purpose and/or public benefit.

For centuries people have given generously to support musicians creating their art. Now in the 21st century, translating this tradition of patronage onto the blockchain brings with it unprecedented immediacy, transparency, and mutual benefit.

By acquiring and staking $MUSE, every transaction immediately contributes direct value for musicians in a way that anyone can see — no need for annual reports or oversight committees: the distribution of the token is forever in the public domain. Such transparency is a native feature of cryptocurrency technology.

Additionally by buying and staking $MUSE, member-patrons are not giving away money as they would in the donation-based model, but rather are investing in a community and art form that rewards them for their actions through cultural as well as financial incentivizations.

Therefore not only does a global community of musicians and music-lovers receive immediate benefit with every transaction of $MUSE, but as long as people continue to support the ritual of live musical performance (as they have for so many centuries), the shared-value of the entire MUSE ecosystem will continue to stabilize and grow over time.

Authentic Sustainability

MUSE is not built on a network of investors looking to make a quick return. As explained above, MUSE member-patrons do not simply look to sell $MUSE at an advantageous moment, but rather are invested in the asset as a means to support the long-term sustainability of the musical art forms they love.

It is this deeper call-to-action that makes MUSE a uniquely powerful example of uniting a DeFi asset with the timeless ritual of live musical performance.

Blockchain technologies have opened the possibility of dissolving the tension between our investment portfolios and the meaningful causes we support; we believe the launch of MUSE is a powerful way to manifest this potential.