A few platforms dominate social, and control digital media distribution. Their strength depends on millions of users creating and sharing content, but only a small fraction of the hundreds of billions in enterprise value that they have amassed flows back to those that create it.

We believe that users should transparently and programmatically earn for their contributions to a network, and have a stake in the community they are growing. PROPS ensures that network value flows back to the people who help it grow, better aligning stakeholders across the platform.

Our community of millions of users and content creators is spending and earning digital currency today (62K transactions / day). They will spur demand for PROPS day one, making it one of the world's most widely used cryptocurrencies early on.

PROPS Powers Network Engagement and Growth

Open platform for many-to-many video

First many-to-many video infrastructure, enabling VOD, video chat, linear or premium content, multi-user live streaming and more. Creators and developers drive user engagement, and get rewarded in PROPS.

A token with fundamental value

Users hold PROPS to promote content, access exclusive features, and signal status across media apps. The larger the network, the more valuable these benefits.

User activity drives demand for PROPS

Mainstream users need no knowledge of the underlying cryptoeconomics to enjoy and participate on the platform. They can engage for free or through in-app purchases, which in turn drive demand for PROPS.

PROPS Decentralizes Video Applications

Introducing Rize, the first PROPS-powered app

Rize is a many-to-many social video app. It leverages PROPS video infrastructure, and enables users chat with friends in real time, engage with content creators and watch linear content together. Rize will be seeded with the YouNow community and launch before the public token distribution.

Multiple interactive video apps running PROPS are being built

Developers are actively working with the PROPS video infrastructure, building social video games and other interactive experiences to be released in 2018. Apps share a currency and identity layer, with each use case further driving user growth and token demand.

Timeline

Token allocation

In order to kickstart a vibrant community of passionate PROPS users, we’ve designed token distribution to offer as many people as possible the opportunity to participate, either buying PROPS or earning them by growing the network.

The Decentralized Media Foundation is a non-profit entity that programmatically and transparently distributes tokens over multiple years to developers and creators who contribute value to the ecosystem. YouNow Inc will grant the Decentralized Media Foundation 50% of the total supply of PROPS tokens. As a result, the majority of tokens will be distributed over time to partners and the public.

Token Distribution Schedule:

Partner Rewards & Grants
Partner Rewards and Grants will be distributed at a maximum equivalent to 12.5% of the remainder per annum, indefinitely (≃6% of total token supply in year one). The public will hold the majority of PROPS.

Token Distribution
Investors in the YouNow Services Republic Crypto offering will have their tokens distributed to them as a Token DPA repayment after the planned Q1 2018 network launch.

Team Vesting Schedule
Company tokens vest over 3 years. Team aligned with long term vision of the network and all token holders.

The Evolution of PROPS

YouNow Inc Team

Since 2011, YouNow Inc has been a pioneer in the live streaming video space and was the first company to popularize live mobile video in the U.S. In stark contrast to the monetization strategies of most social media companies, YouNow Inc successfully invented a microtransaction-driven, two-sided economy within the context of video entertainment that allows YouNow Inc to reward content creators. Over the last three years, YouNow Inc has generated over $50 million in virtual goods sales and shared the majority of its earnings with its content contributors.

In launching the PROPS Ecosystem, the YouNow Inc team continues to pioneer video networks via an open video platform and an ecosystem with a decentralized economy. The PROPS Ecosystem will benefit from YouNow Inc’s millions-strong user base and creator community, a new many-to-many video technology and a 40 person team with notable video and virtual economy expertise. YouNow Inc plans to transition from its current state as a C Corp to become a B Corp, with a PROPS centric mission: creating a more open and sustainable media ecosystem.

Additional Information

Learn more at: https://propsproject.com

How this offering works

Investors are offered to invest in YouNow Services LLC and receive a Token DPA — a debt instrument, payable by assets (PROPS Tokens).

Per the DPA Agreement:

• YouNow Services is to acquire PROPS Tokens during the planned Q1 2018 PROPS Token Distribution Event.

• YouNow Services is to repay investors (Token DPA holders) with PROPS Tokens with a 20% premium.

Please consult the DPA Agreement for complete termsIncluding timing, Republic’s and YouNow Services’ commission, how funds are handled, what happens with the funds in case the Tokens never get distributed by YouNow Inc, etc.

Understand the terms

This offering is a debt offering, payable by assets — PROPS Tokens, or by cash, if the Tokens never get issued. Investors do not receive any equity interest or ownership in YouNow Services or any of its affiliates. Repayment obligations are set forth in and limited to the terms of the DPA Agreement. Key repayment terms are listed below but are qualified entirely by the terms of the DPA Agreement. Please carefully review the entire DPA Agreement before participating in this offering.

• YouNow Services expects to acquire ownership of PROPS , in which case it will pay back the entire debt amount to investors, plus 20% interest, using PROPS, to be valued at the undiscounted price set by YouNow Inc for purposes of PROPS’ public distribution.

• At least  80% of the cash raised in this offering will be maintained in escrow. Investors may at any time within 60 days of the closing of this offering demand a refund, in which case the investor agrees that YouNow Services may return 80% in cash to the relevant investor in full satisfaction of all repayment obligations under the DPA.

• At any time in the first two years, if YouNow Services determines in good faith that it will not be able to acquire ownership of PROPS for regulatory reasons or otherwise, it may repay 100% of the debt amount in cash to investors, with no interest rate. After 2 years, there shall be a 1.5% interest accrued monthly in arrears on any unpaid debt.

• YouNow Services intends to repay all debts under this offering in cash (0% interest) or by PROPS (with 20% interest) within the first 24 months of this offering.   

• Please carefully review the entire DPA for complete terms.

Message from the YouNow Services team

We believe that users should transparently and programmatically earn for their contributions to a network, and have a stake in the community they are growing. PROPS is intended to establish an ecosystem in which network value flows between the people that help grow it, better aligning stakeholders across the platform. We welcome you to join us on our journey to build a decentralized ecosystem of video applications to better empower all of the stakeholders in the network, and we are grateful for your support.

— Adi & Alejandro