Tokenomics - Minglo: Web3 Open Data Ecosystem for Well-Being

Minglo's native token

Minglo is the ecosystem equipped with two tokens:
$DATA token and $MGL token.

The $DATA Token functions as the core currency for the Minglo platform, adhering to the ERC20 utility token standards. It facilitates transaction fees, data purchases, service payments, rewards for data creation, staking activities, and grants. The token's value stems from the platform's service demand. Minglo's strategies to increase $DATA accessibility include direct sales, exchange listings, and reward distributions to active users.

The $MGL token, building on the ERC20 standard, is vital for governance in Minglo's DAO, supporting voting and staking. The token funds platform operations, distributes rewards for voting, delegates voting rights, assigns weight to well-being reports, and ensures equitable resource distribution, fostering a democratic platform evolution.

Tokenomics overview

Tokenomics that generates rewards for data creation.

Minglo's token economy is a system that generates rewards for users who produce data.

The data registered by each user within Minglo, as well as the data generated from their efforts towards improving well-being, is transformed into Data NFTs, allowing users to control their own data.
If users agree to offer their data within the token economy, they can sell this data to various stakeholders through the data platform.The value of the sold data is assessed by various Data hosters based on contributions to well-being improvement.

Minglo weighs the value assessments made by various stakeholders through what's termed 'Sustainability Calculation'.
Thus, users can receive rightful compensation for the data they produce.

How to use the data

Empower your well-being, Empower social well-being

Within Minglo, data provided by each user to the Data hosters is used for initiatives to enhance well-being by various stakeholders.
It is used for well-being research, analysis and report creation for community development and service development in regions and organizations.
Each stakeholder, while receiving revenue here, will evaluate the value of the provided data. By offering a sustainable and decentralized ecosystem that empowers the advancement of societal well-being, various stakeholders, including users, receive economic rewards from efforts that contribute to well-being.

Contributers

StakehoderStakehoders to the improvement of well-being

This section introduces stakeholders involved in improving well-being using data.

Data hosters

Data hosters, either internal or third-party, offer secure storage, backup, and data protection services.

They ensure reliable data environments with features like replication and disaster recovery.

They're compensated via token grants and ongoing payments or data staking rewards.

Commercial users

Commercial users can trade data with the DAO and commission AI analysts for tailored reports.

They can also join DAO governance, potentially shaping its future.

Commercial users are a key revenue source for the DAO.

AI Analysts

AI analysts are vital to the DAO, producing reports from accessed data.

They receive incentives through initial grants and revenue-sharing from improved reports.

Their reputation can attract commercial users for tailored reports.

App developers

App developers create apps bridging users and the platform, which consists of smart contracts for data creation and incentives.

The apps facilitate data collection, user preferences, and $DATA redemption.

Developers receive $DATA for contributing features and can stake it on specific reports.

This staking serves as an ongoing incentive, encouraging optimized user experiences and efficient data collection.