THE ECONOMIC MODEL OF EPIK PROTOCOL.

This article will aim to explain the economic model of EpiK Protocol. As such, it will be focusing on the following areas:

1. Principle

2. Participants

3. Knowledge Supply

• Knowledge Experts

• Bounty Hunter

4. Knowledge Storage

5. Knowledge Access

6. Governance.

PRINCIPLE

The goal of this economic model is for each role in the ecosystem to maximize its own interests while working together to promote the growth of the EpiK’s decentralized knowledge vault.

PARTICIPANTS

  • Knowledge Experts (KEs)
  • Knowledge Nodes (KNs)
  • Knowledge Gateways (KGs)
  • Bounty Hunters and
  • EPK holders.

A single user can take on multiple roles without conflict. EPK holders are accountable for the upkeep and governance of EpiK’s blockchain ecosystem.

KNOWLEDGE SUPPLY

• Knowledge Experts (KEs)

 Voting

 Returns

• Bounty Hunter

The EpiK Protocol anticipates constructing a super-large-scale knowledge graph in which KEs will breakdown and verify tasks, Bounty Hunters will assist in completing knowledge extraction subtasks, and nodes will store the refined knowledge.

EpiK Protocol will be capable of teaching machines to better understand human knowledge and broaden the horizons of AI.

KNOWLEDGE STORAGE

While in the knowledge graph collaborative scenarios of the EpiK Protocol, small bin-log files are produced at a high frequency by micro-collaboration in order to make the best use of network resources, EpiK Protocol intends to build a Layer 2 storage network tailored for knowledge graph collaborative platforms, based on Filecoin’s core technology.

Domain experts can use the knowledge node to store their data for free. The knowledge node can gain computing power after storing the data uploaded by the domain experts. Knowledge nodes that have completed file storage in the first N positions can get double the computing power for each new file uploaded by domain experts.

KNOWLEDGE ACCESS

The EpiK Protocol will allow users to access data in an orderly fashion despite limited bandwidth resources, while also encouraging KNs to continuously optimize their bandwidth resources.

Users in the EpiK Protocol can receive 10MB of data access traffic per day for each EPK staked. The data access limit is updated on a daily basis.

GOVERNANCE

However, in order to realize this vision, the community must be self-sufficient.

All governance rights will be passed from the Foundation to EpiK DAO after mainnet 2.0 "Hammurabi" is deployed, where all EPK token holders will be able to partake in initiating new projects and voting for consensus, further enhancing and preserving EpiK Protocol.

Specifics of the EpiK DAO governance plan, as well as the Knowledge Fund governance plan, will be elaborated on in the "EpiK Protocol Governance Whitepaper" at a later date.

IN CONCLUSION,

Token incentive mechanism and DAO governance model combine to create a global open autonomous community with four core capabilities: trust storage; trust incentives; trust governance; and trust finance. This allows global community users to work together at a very low management cost and continuously produce high-quality AI data.

For more information, visit:

Twitter: https://twitter.com/EpikProtocol

Telegram: https://t.me/EpikProtocol

GitHub: https://github.com/EpiK-Protocol

LinkedIn: https://www.linkedin.com/company/epikprotocol/

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