Filmioids,
As many of you who’ve been with Film.io for a while probably noticed, we’ve welcomed thousands of new members over the last few months since Film.io’s debut at Sundance and the global reach achieved via the recent listing of the $FAN governance token. With the rapid growth and the ongoing commitment to maintain a secure and sustainable environment for all users, Film.io is introducing essential measures to safeguard the integrity of the platform and the value it offers to each one of you. These measures include enhancements to:
$FAN Token Updates
| Feature | Bonus Token Release Schedule |
| What does it mean? | The full rollout of the system is expected to take two to four weeks. During this time, bonus $FAN ($FAN earned on the platform as rewards and bonuses) will STILL BE EARNED but all bonus $FAN withdrawals will be temporarily paused as the upgraded time released schedule is deployed with a dynamic system that rewards the most engaged fans. – Bonus $FAN governance token withdrawal off platform is temporarily paused. -Transfer of bonus $FAN to a non-custodial wallet off the platform, will be released over time. – You are still able to withdraw any original $FAN amount that you transfer into the platform. See example below. You are still able to use your entire $FAN balance as usual, including staking, earning FGR, and earning $FAN awards as you progress through the DAO membership levels. |
| Are all $FAN tokens affected? | No. Only bonus $FAN governance tokens are locked temporarily until the gamified unlocking system is released. For clarification, this includes awarded $FAN from promotions and in-platform rewards such as the DAO tier progression rewards and Fan Governance Rewards (i.e. FGR). This does not impact the Token Releases Schedules for BCW or others that purchased tokens. |
When does it go into effect? | April 22, 2024 |
| How do I unlock $FAN Awards? | You will be able to speed up the unlock of $FAN awards so that you can transfer them to your NCW by moving up the Film.io DAO tiers, collecting GEMs, and using GEMs to accelerate outstanding awarded $FAN cooldown. |
| Can I still withdraw $FAN from Film.io to a NCW? | Yes. You will always be able to withdraw any amount of $FAN you originally transfer from a NCW into Film.io. For clarification: If you transferred 500 $FAN from your Metamask to Film.io and then Staked 400 $FAN into projects–you may still always unstake and withdraw up to 500 $FAN at any time. The $FAN you earn from FGR is still there and available for all platform utilities, but will be subject to the timelock system that we will be rolling out. |
DAO Tier Rewards System Updates
| Feature | Programmatic DAO Tier Rewards System Levels |
| What does it mean? | This first release is the first step leading to the future fully algorithmic rewards and reputation system as envisioned in the Blackpaper. This is an exciting mostly technical upgrade that sets the necessary foundations for future Film.io DAO Votes to impact the standing requirements and awards benchmarks for DAO tier progression. The following new features are introduced in this release: – Updated DAO tier progression requirements to support dynamic calibration – Updated DAO tier $FAN Awards schedule to support integration with live community and market dynamics – Adding access-control capabilities for future DAO Governance Votes to support gating certain votes to specific DAO tier members such as KYC’ed users as an example. – Introducing a new DAO Tier (temp name STARs) reserved for the die hard builders across our eco-system. – Introducing new upcoming award tokens: GEMs and XPs–used to reward good citizenship and provide enhanced utility on Film.io. |
When does it go into effect? | April 22, 2024 |
What are the current DAO Tier Progressions?
Film.io Community Contests and Leaderboards Portal
| Feature | Community Contests and Leaderboards |
| What does it mean? | Join the quest for $FAN and help the Film.io mission to decentralize filmmaking and bring more creative projects to greenlight. How does it work? The club is organized into three types of quests: (1) Learn; (2) Share; and (3) Collaborate. Every time you complete a quest you Earn GEMs and XP Points. GEMs are used to claim awards in the Film.io Club Fair. XP Points are used to determine your position on the Community Leaderboard which may determine snapshot positions and winner selection for future prizes and awards. The following new features are introduced in this release: – Join Film.io Club (coming soon) – Complete Quests to earn GEMs and XP – Use GEMs and XP to claim awards in the Club Fair – Climb the Leaderboard by racking up XP points for high value awards and snapshot positions. |
| How to Earn GEMs and XPs | 1) Complete Daily Club Tasks 2) Stake $FAN to maximize GEMs, XP accumulation. 3) Be strategic and think long term before you stake to avoid having to unstake. Unstaking results in XP and FGR deduction. |
| How to Claim GEMs for $FAN awards? | Visit the Club Fair and use your GEMs to participate in opportunities to earn bonus $FAN governance tokens: 1) Win 500 $FAN – Weekly Auction 2) Win 250 $FAN – Weekly Auction 3) Win 100 $FAN – Weekly Auction 4) Win 25 $FAN – Daily Raffles 5) Get 10 $FAN – Daily Quota |
| Other ways to use GEMs? | Coming soon: Use GEMs to accelerate awarded $FAN cooldown to unlock awarded $FAN for transferring off platform. |
| How to use XP? | XP determines your position on the Club Leaderboard. Your position on the club leaderboard opens opportunities for high value awards and exclusive snapshots. |
When does it go into effect? | April 23, 2024 |
The Film.io team will keep you updated regularly and value your feedback throughout this process. We look forward to seeing you on Film.io and race with you on the upcoming quests for $FAN.
Thank you for your continued support,
The Film.io Team