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Civic Liker Web3 FAQ |
- The new version of Civic Liker Web3 (beta) was launched on February 21, 2022.
- Liker Land has ceased supporting credit card payments and new Civic Liker registrations until the new scheme is implemented.
- Credit card/PayPal auto-renewal payments for existing subscriptions will be automatically halted on the next billing day. During this period, the Civic Liker status remains in effect.
- The balance that existing Civic Likers have paid will be combined with the delegation rewards in the new scheme, allowing them to continue rewarding creators by clicking LikeCoin buttons.
- For annual subscriptions, a pro-rata refund of LikeCoin equivalent to the remaining months will be provided.
- Civic Likers contribute by using the rewards earned from delegating LikeCoin to reward creators through clicking the LikeCoin button and giving likes. The larger the delegation, the greater the contribution.
- Additionally, clicking the LikeCoin button also impacts the distribution of the Creators Fund, Reinventing the Likes by turning them into income.
- Civic Likers also have the right to participate in community voting to help decide policies.
To become a Civic Liker, you need to register a Liker ID and delegate a certain amount of LikeCoin to the "Civic Liker" node.
Civic Likers can support creators by clicking the LikeCoin button in the article, which distributes delegation rewards to the creators.
The Creators Fund is a special fund established to encourage creators. The LikeCoin community authorizes the Creators Fund Management Committee (refer to Proposal 23 for details) to decide how the fund is used. Currently, creators can receive fund sponsorship when readers like their content through the "LikeCoin button".
The Creators Fund Management Committee allocates the matching fund of the current month at a ratio of approximately one to one based on the total delegation rewards generated in the previous month.
The Civic Liker's clicks on the LikeCoin button influence the distribution of the Creators Fund. The more LikeCoin delegated, the greater the influence. Every day at 12:00 noon, the system refers to the previous day's like data and allocates the fund quota for the day to the creators.
To become a Civic Liker, you must first purchase LikeCoin. Currently, Osmosis is the DEX with the highest circulation, where you can exchange LikeCoin for other 30s cryptocurrencies. You can also check out the "Buy LikeCoin" section.
To cancel a Civic Liker subscription, simply undelegate from the Civic Liker node. Please note that it takes 21 days to cancel the subscription.
9. After canceling the Civic Liker subscription, can I get back the undistributed delegation rewards?
No, the accumulated rewards will always be stored in the system and can only be distributed through clicking and giving likes. However, the delegated amount (principal) can be withdrawn at any time.
10. After canceling the subscription, can I still continue to distribute the remaining delegation rewards by clicking and giving likes?
Yes, but it will not affect the distribution of the Creators Fund.
The Civic Liker node is operated by Liker Land Corporation.
Liker Land will not vote as a validator, but will encourage delegated Civic Likers to pay attention to community issues and vote actively.
The delegation rewards come from the inflation mechanism of LikeCoin and are meant to reward the nodes and delegators who contribute to maintaining the LikeCoin network. LikeCoin uses the typical Bonded Proof of Stake mechanism, and the logic and parameters are inherited from the Cosmos SDK.
For a detailed explanation of the delegation rewards, please refer to this article.
You can transfer LikeCoin directly to the creator's account. Please refer to this article for the transfer method.