Rules of Quill
Quill is building a value net on the Web3 for both authors and readers.
We believe that the value of an post is composed of both the author and the reader, but the actual situation is that the reader’s contribution, especially the early readers’ contribution,is not well represented. Therefore, the biggest difference between Quill and other platforms is that Quill introduces an early reader rewards mechanism.
The specific rules are as follows,
Users can publish posts on the platform and become authors.
Posts can be paid or free, paid posts are priced by Bitcoin.
Users can pay for the posts(buy or reward), i.e. become a reader of a post.
For every new income from an post, 40% will be allocated to each early reader on a pro-rata basis as Early Reader Bonus , 10% will be a handling fee for the platform, and the rest will be revenue for the author.
Readers can also increase the amount they pay for an post by means of a reward in order to increase their share of the bonus.
User A published an post X pricing 100 Satoshi on the platform.
User B paid 100 Satoshi for post X and got the right to read the post.
Therefore, post X earned 100 Satoshi, because B is the first reader and there is no earlier reader, so there is no early reader bonus; 10 Satoshi(10%) is used as the platform’s handling fee; The remaining 90 Satoshi are all taken as author revenue and transferred to the account of author A.
User C paid 100 Satoshi for post x after B. As a result, Post X earns another 100 Satoshi.
Among them, 40 Satoshi(40%) will be used as an early reader bonus. At this time, there is only one early reader, user B, so B monopolizes this 40% reward; The platform also receives 10 Satoshi(10%) as a handling fee; The remaining 50 Satoshi is the author’s income.
After C, user D also paid 100 Satoshi for post X.
Similarly, 40 Satoshi(40%) will be rewarded as early readers bonus. At this time, there are two early readers, namely B and C, who paid 100 Satoshi for post X before, so both B and C will be rewarded with
40 * 100/(100+100) = 20 Satoshi respectively.
The platform also charges 10 Satoshi(10%) as a handling fee; The remaining 50 Satoshi is the author’s income.
And so on.
It is worth reminding that besides the payment for posts, the income from other payment behaviors (such as reward) will also be included in the distribution ratio of early readers’ bonus.