Topic: ✅✅✅【ANN】【ICO】GCOX THE WORLD'S FIRST DECENTRALIZED ⭐CELEBRITY⭐ TOKEN EXCHANGE✅✅✅ - page 22. (Read 18462 times)

Whitepaper page. 38 Section 6
ACCLAIM BLOCKCHAIN
The native on-chain DEX will continue to showcase the best features of decentralised and centralised exchanges. Privacy, process integrity, transparency, and immutability are provided out of the box by storing buy / sell orders on the blockchain as normally implemented in other DEXs. However, unlike other DEXs but similar to centralised exchanges, there will be no transaction fee for placing buy, sell or cancel orders. There will be a transaction fee only when orders are filled. The in-built native DEX offers a higher performance compared to smart contract-based DEX implementations as matching logic is executed natively instead of being run at a slower pace on all virtual machines in the network.

Whitepaper page. 40 Section 6.5

Future Developments on the ACCLAIM Blockchain

Proof of Trade Concept and Trade Mining
Proof of Trade was conceptualised from a rebate model that rewards users for trading on the GCOX platform. The Applause Tokens (APL) are gas tokens that control the utilisation of GCOX platform resources. The APL tokens allow users to transact on the ACCLAIM Blockchain. With a total supply of 1 billion APL tokens, 20% (equivalent to 200 million tokens) are pre-mined during the Genesis block and the remaining 80% are currently generated through a decay algorithm as explained under Section 6.2. We intend for the Applause generation model described under Section 6.2 to eventually transition to the trade mining model as further described below. The Proof of Trade utilises trade mining and rewards traders and users for their trades on the GCOX’s decentralised exchange (DEX).
Trade Mining
Trade mining is an innovative concept that rewards users who trade mine on the DEX, based on their trading value. In addition to incentivising traders on the DEX, this concept allows them to participate in the generation process of the remaining APL tokens.

Block rewards from trade mining serve two functions and will be distributed in the ecosystem via the following manner:
1) Trading Fees & Trade Mining Block Rewards
APL tokens in the block rewards will be generated and awarded to ‘Trade Miners’ trading on the DEX instead of to the Speaker Node. This reward system continues until 1 billion APL tokens have been reached, including the 200 million APL tokens pre-mined in the genesis block. The number of APL tokens awarded will be equivalent to the ACM value of the trading fees incurred by each trader on the DEX. APL will be awarded each time a new block is created based on the trades to be recorded in that new block.
Trading Fees on DEX
On the DEX, all trades will be subject to a 0.01% trading fee in addition to the 0.01 APL network fee. The minimum trading fee is equivalent to the smallest quantity of the respective tokens, in 8 decimal places. This 0.01% fee will be awarded to the Speaker Node that validates the transactions during block generation.
Trade Mining Block Rewards
For every 1 ACM value of trading fee incurred, users will receive a block reward or ‘trademining’ reward of 1 APL, in a one-to-one (1:1) ratio. For example:
In a trade of 50 ACM tokens for 20 PAC tokens:
• Buyer will incur a trading fee of 0.005 ACM tokens (0.01% of 50 ACM)
• Seller will incur a trading fee of 0.002 PAC tokens (0.01% of 20 PAC)
The 0.005 ACM and 0.002 PAC trading fees (0.01%) will be awarded to the Speaker Node that validates the transactions during that block.
Both buyer and seller (trade miners) will be rewarded based on the above-mentioned 1:1 ratio. Given that the trading fee incurred is 0.005 ACM, they will each receive 0.005 APL.  
This trade mining rewards system continues to be the mechanism that releases the remaining 800 million APL tokens until the maximum supply is reached.
2) Network Fees
The total network fees incurred during each block interval of 15-20 seconds will be awarded to trade miners of the largest single trade, i.e. the trade in each block with the highest ACM trade value. This will be similarly subject to 8 decimal places.
For example:
If total network fees in the block is 0.01000001 APL, the buyer and seller will receive 0.00500001 APL and 0.00500000 APL respectively. In a scenario where equal division will result in more than 8 decimal places, the additional 0.00000001 APL (or any other odd number) of network fees will be rewarded to the buyer.
If there are multiple trades with the same largest trade value, the earlier trade within the block will receive the reward. If there are no trades on the DEX, the Speaker Node will receive the total network fees for the block.
In the event where no network fees are incurred, the block will still be created and a ‘miner’ transaction will be recorded for the creation of the block which simply indicates which consensus node created the block.  
This revised Network Fees allocation ensures the continuity of the Trade-Mining rewards, once the full supply of Applause tokens (APL) has been trade-mined.

No celebrities do not have to be on television they can be an author, Youtuber, Twitch Streamer anyone with a monetized following looking to expand its revenue streams and celebrity lifecycle.

Whitepaper page. 7 Section 1.3

Value Proposition
Celebrities are not just people – they are their own brands. Whether they make music, star in blockbusters, write award-winning novels or score the most goals in the World Cup tournament, they capitalise on their brand image for monetary purposes. Many celebrities are also the faces of other brands in their sponsored tweets and Facebook posts.
As rules of engagement constantly change, celebrities can now capitalise on social media endorsements to rapidly grow their popularity and stardom. The birth of blockchain allows them to leverage on their popularity by listing on a decentralised popularity index.

Yes this is correct sort of, our native token name is ACM.

Here is an excerpt from the whitepaper that I think answers your question.

Whitepaper page 12 Section 2.2.2

ACCLAIM TOKENS



Celebreneur The word ‘Celebreneur’ is a portmanteau of the words "celebrity" and "entrepreneur". GCOX aims to be the springboard for
celebrities to enhance their entrepreneurial spirit and become a successful entrepreneur or in their case, a celebreneur.

There are three programmes within GCOXs' Celebreneur platform.
They are:
1. Celeb-merchant
2. Fan-merchant
3. Celeb-auction

Celeb-merchant provides celebrities with a platform to enhance their existing businesses or product lines, and encourages them to
venture into entrepreneurship. This platform will allow celebrities to conduct transactions of goods and services for their existing
businesses.
The Fan-merchant programme will provide opportunities for fans to be merchants on the platform of their favourite celebrity, subject
to their agreement. It is also able to leverage on the celebrities’ tokens for payment.
Lastly, the Celeb-auction programme will allow celebrities to auction their items or memorabilia through this program. There will be
standard items and special items to be auctioned. The item will go to the highest bidder after a set time has passed.
This enhances the functionality of the Celebrity Token; celebrities can thus continue to expand their influence globally as accessibility
for fans to purchase their goods and services will improve drastically. This in itself is a major business opportunity as there are
currently many potential customers who are currently not able to access these goods and services.

EDIT:

Whitepaper page 36 Section 5
The ACCLAIM token serves as a means of exchange for the many different Celebrity Tokens corresponding to different celebrities.
The ACCLAIM tokens enable users to purchase the various Celebrity Tokens as well as their associated merchandise and services on the
platform.

Key features of the ACCLAIM token include:
• ACM is the only token accepted for all Celebrity Tokens ITS.
• Users who subscribe for ACCLAIM tokens during the ACM ITS will also receive a one time 20% bonus of Applause tokens.
For further information on ACCLAIM, please refer to Section 7 of this whitepaper entitled “Launch Summary”