Only1 (LIKE) announces the Q1 reward program and the 2024 roadmap

Author: Only1

Abstract

• Only1 is a decentralized membership platform that addresses the payment and trust issues faced by OnlyFans creators and their agencies through trustless payments and creator tools.
• $LIKE is the platform's token, which will be used for platform fee discounts and income-based buybacks to reward the community.
• The roadmap for 2024 will initially focus on building a better operational platform for creators and agencies. Since its launch in June 2023, the number of monthly active users has grown from 2,000 to 30,000.
• Collect points for Season 1 rewards before December 31, 2023, and participate now!

What is Only1 & $LIKE?

Only1, supported by Animoca Brands and Solana Foundation, is the first decentralized creator membership platform. Creators and their agencies on OnlyFans and Patreon face payment and trust issues, which Only1 addresses by using Solana as a payment settlement layer and developing agency tools.

$LIKE is the platform's token, which will be used for platform fee discounts and income-based buybacks to reward the community. The Only1 membership site launched in June 2023 and has grown from 2,000 monthly active users to 30,000 by October 2023. The team will continue to develop creator tools, integrate with key infrastructure providers, collaborate with creator agencies, and improve user experience to promote adoption in Web3 and mainstream markets.

OnlyFans is a subscription platform launched in 2016 that allows fans exclusive access to creator content. According to OnlyFans' annual report (August 24, 2023), their revenue grew by 16% in 2022, with total user spending at $5.6 billion, approximately 238 million fans, and 3.2 million creators. In this market environment, these figures are impressive for any industry.

We have communicated with nearly all of the top 1% of OnlyFans creators, who work with marketing agencies known as OFMs (OnlyFans Managers) to drive traffic to their subscription sites. OFMs help creators curate content and promote their pages on social media platforms like Reddit, TikTok, Instagram, and X (formerly Twitter). However, creators and OFMs face issues—payments.

Decentralized Payments Solve Payment Issues

Problem: Payment Failures

Creators rely on membership sites like OnlyFans to make a living, but payment failures occur frequently. In 2021, Mastercard required OnlyFans to ban explicit content. In 2023, Patreon experienced a significant payment crash, causing creators to lose subscribers and be unable to receive payments. Fansify (formerly known as Pocketstar) still owes many creators payments, and it is unclear if they will receive them.

Solution: Trustless Payments and Non-Custodial Wallets

Every payment, from private message tips to memberships, is paid directly in a peer-to-peer (P2P) manner to a non-custodial wallet owned by the user. This means creators will receive their payments immediately, regardless of the platform's status. No entity can prevent users from receiving their funds, so payment issues do not occur. Given the potential volume of such microtransactions, Solana is the only blockchain capable of executing this at consumer scale.

Trustless Payment Agency for Creators and Agencies

Problem: Low Trust Between Creators and Agencies

Creators and OFMs often have contracts regarding revenue sharing, meaning one party will always prioritize receiving income before sharing it with the other. As a result, many creators and managers typically only collaborate if they live in the same city or know each other. This low-trust environment hinders matching between creators and agencies, preventing many creators from increasing their profits.

Solution: Revenue Sharing Through Smart Contracts

Creators can delegate a portion of their income percentage to different wallets and set time limits. For example, Joey delegates 30% of her income to her manager Bob for six months. Once Bob accepts the revenue share, the only way to change this setting is for both wallets to sign the adjustment. Similar to how Airbnb establishes trust between hosts and travelers to facilitate more bookings, this multi-signature feature will encourage more matching between creators and agencies.

Roadmap

Q4 2023

• On/off-ramp payment integration
• Creator management tools
• $LIKE decentralized liquidity market

Q1 2024

• Enhanced user security
• Revenue analysis
• Improved recommendation algorithms

Q2 2024

• Fan base analysis
• Decentralized subscriptions
• $LIKE buyback and burn

Q3 2024

• Mobile app
• Short video content & live streaming
• $LIKE creator staking pool v3

Points Competition (Season 1)

As a way to reward early adopters of the platform, users can earn additional rewards by participating in the Season 1 points competition. Users can initiate, purchase, and trade passes, interacting with other users to earn points. Points are airdropped every Friday.

Deadline for the event: December 31, 2023

Join now: https://only1.app If you are unsure how to use the platform, please visit the Help Center.