muze network

Frequently Asked Questions

What is the Muze Network?

It’s a revolutionary new platform for building and managing your own online social community, with the power of its own digital currency. We’ve created a toolset you can use to build your own community economy, no matter the size of your online efforts.

Who was Muze Network built for?

The Muze Network is designed for just about any kind of online community project. A short list of those that could take advantage of the power of the Muze Network would include: Influencers or all kinds, causes and charities, brands, small businesses, artists and creators of all kinds, clubs and organizations, or any project where a group of fans, followers or members would congregate and interact online.

What do you mean by community?

Simply, a group of people that come together, online, for a common purpose or interest. In practice, online communities have been around for years. There is nothing new about the concept, however we do introduce new ways to develop and manage online community economies.

What do you mean by Community Manager?

Each community has one and only one Community Manager, who creates, builds and manages their online community and gains control over their own Energy Coin (digital currency). While they may decide to collaborate with others in various ways, the Muze Network assigns responsibility for the community and Energy Coin to one Community Manager.

What is Energy Coin?

Energy Coin is what we call the uniquely named digital currencies that power each of the community economies in the Muze Network. It’s named something like $MYCOIN. Each Community Manager controls how their Energy Coin can be purchased and used. 

Is each Energy Coin a cryptocurrency?

No, each community Energy Coin, is a digital currency that functions only within the Muze Network. They are not, as such, cryptocurrencies. However they are backed, 100%, by MUZE, a BEP20 standard token. Community Managers and other members of the Muze Network, are able to exchange the Energy Coins they earn and acquire for MUZE, thus allowing an exchange for other cryptocurrencies or fiat currency like dollars.

What can community fans and followers do with an Energy Coin?

We’ve built-in lots of tools to help Community Managers incentivize their followers and fans to purchase and use their Energy Coin. Such as donations, direct transfers, access to exclusive content, memberships, online shops, auctions and lotteries, events and event tickets, online learning and more. You will be limited only by your imagination and ingenuity.

Where does Energy Coin get used and circulated?

Right now your Energy Coin is useable in ways you manage and control within the Muze Network site (muzenetwork.io). In phase two, we’ll make it possible for Energy Coin to be purchased and used on other websites, allowing community economies to grow beyond the bounds of muzenetwork.io.

Is there a fee or cost for being part of the Muze Network?

No. We don’t charge any kind of fee and there is no cost for participation in the Muze Network, either for Community Managers or regular members.

Is there any kind of transaction fees for Energy Coin purchases or when its spent?

No. There is never any kind of transaction fee for anything. When anyone spends your Energy Coin, 100% of the amount spent comes to you. Also, there is no fee when someone purchases any Energy Coin. 100% of the amount purchased goes into their wallet.

How do I get approved to be a Community Manager?

In this phase of development we operate by invite only. If you’d like to be a Community Manager here in the Muze Network, click the Join Us link in the Contact menu or wherever you see it, fill out the form and tell us about yourself and your community economy plans and dreams. We’ll get back to you soon after.

Does each Energy Coin have real value? How is the value of Energy Coin determined?

Yes, each Energy Coin has real value. When new amounts of a community’s Energy Coin is generated, an equal amount of MUZE is set aside in a virtual funding pool, ensuring that the holder will be able to exchange it for MUZE when they wish. Also, when a community’s Energy Coin is purchased, it’s price is determined by the current price of MUZE in external markets, where it trades. The price and value of each Energy Coin is therefore directly tied to the price of MUZE.

How does a Community Manager earn and acquire their Energy Coin?

There are four basic ways a Community Manager can acquire their Energy Coin.

  1. The initial grant allocation from Muze Network. See below.
  2. Their members/followers purchase it and spend it on something (buy something, access to content, etc.)
  3. Someone transfers an amount to them using the built-in Energy Transfer feature. Analogous to a Paypal transfer.
  4. Receive Energy Rewards, which are monthly awards of Energy Coin to Community Managers, based on community engagement and activity measures. More monthly engagement and activity and more rewards.

How do a community’s fans and followers acquire its Energy Coin?

By purchasing it. Everyone with an account in Muze Network has an Energy Wallet, accessed by clicking “My Energy” in the left sidebar menu. From there they can see all the Energy Coin they hold, and make purchases with a credit or debit card.

How is the price of an Energy Coin determined when it is purchased?

The price of one Energy Coin is always determined by the price of MUZE when the purchase is initiated. If each MUZE costs $0.25, then each Energy Coin will cost $0.25.

Can those with Energy Coin in their Wallets exchange it for cryptocurrency or dollars?

Yes. From their Energy Wallet (click My Energy, left sidebar). Exchanges for Energy Coin are always made for MUZE, on a one for one basis, e.g., 1,000 of an Energy Coin would exchange for 1,000 MUZE tokens. Exchange requests are reviewed, and if in order, completed within about 24 hours. The appropriate amount of MUZE is sent to the users wallet address. Once there, it of course can be held or traded for other cryptocurrency or dollars. A maximum of one exchange per month is allowed for all Muze Network accounts. 

What is the initial allocation you grant to new Community Managers? How does that work?

Muze Network invests in every Community Manager by granting them an initial allocation of 50,000 of their Energy Coin when they come on board. This is reserved and held for the first nine months, which essentially serves as a vesting period.

Is my Energy Coin digital currency secure? Should I be worried about losing it or having it stolen?

As with anything computer and Internet related, smart , best practice security measures should be used. It’s important to understand that your Energy Coin is not a cryptocurrency that a malicious actor, like a hacker can obtain or steal from your account. It has no use other than within the Muze Network platform. The only way your Energy Coin can leave the Muze Network, and become usable is by exchanging it for MUZE tokens. And only you, logged into your account can make a request for an exchange. This means you should follow best practices for keeping your account secure. Which means: a) Maintain a hard to guess password and never, ever share it with anyone, or store it on your computer or a file online where it can be discovered.  b) Change your password fairly often, and make sure to include lower and upper case characters, numbers and symbols.

When you make a request to exchange some amount of your Energy Coin for Muze tokens, the process includes these important security measures, in order to keep your transactions safe.

  • When you request an exchange you must do it while logged into your Muze Network account. Keep your account and your password safe.
  • When you request an exchange you must provide your Muze Network Energy Coin password and wallet address, and they must match the values you set in your profile. Both of these values are settings in your profile and are hidden. Only you can view and edit.
  • When a request is made a verification email is sent to your email address, which you must reply to and confirm the exchange request.

What about keeping my MUZE tokens secure? Will it be safe to store them and other cryptocurrency in a crypto wallet?

Crypto wallets that you use to receive your MUZE tokens, and store other cryptocurrency, are a very safe way to store assets. However, as always, best practices apply. You should keep your wallet account secure. Keep in mind the crypto funds in your wallet, no matter what kind, are NOT stored on your device (computer, tablet, phone, etc.). They are stored securely in the blockchain. Your wallet is how you access your funds stored securely in the blockchain. If your device crashes or goes missing, you don’t lose your crypto. You just need to get access to your wallet again. These best practices apply:

  • Maintain a hard to guess password and never share it with anyone. Change it from time to time.
  • Backup and print out your wallet account key, which is typically a seed phrase of several words, that you can use to restore your wallet in the event your device crashes or goes missing. Keep your seed phrase (mnemonic) in a very safe place.
  • If you are concerned about wallet security, consider using a hardware wallet (cold wallet) which is a small device that stores your wallet data offline, making it impossible for anyone to access over the Internet.

Here’s a good article on wallet security you might find useful. How To Store Cryptocurrency Safely in 2021.

Are there plans to decentralize Muze Network, and allow users on other websites to participate and engage in Muze Network community economies?

Yes, in Phase 2 of the Muze Network initiative, we will provide the plugins required for other websites to embed the tools needed for their community fans and followers to participate and engage in Muze Network community economies. 

Are there any kinds of communities you won’t accept or allow?

We don’t approve or allow groups whose sole focus has an adult only orientation, with sexually explicit or pornographic imagery or other content.

What about data privacy? Will you use or sell my information or data?

No! Absolutely never. We aren’t like a social network that sees you and your members as the product. We are all about helping you to create healthy, and vibrant online communities. You can review our Privacy Policy here.

Is there advertising on the Muze Network?

No. It’s not part of our business model and never will be.

Does the Muze Network replace my need for social media?

No! If you already have a following on social media platforms, Muze Network can be seen as one more tool for your community development efforts. In fact, a strong social media presence helps you build value and get rewarded within your community in the Muze Network.

Who can become a regular member?

Anyone can become a Muze Network member as a fan and follower. They will need to register for an account at muzenetwork.io, where they can participate in as many communities as they wish.

Is charitable giving important to the Muze Network operations and goals?

Charitable giving is built into the foundation of what the Muze Network is about. A significant amount of the MUZE token is devoted to charitable giving forever.

How does charitable giving work? How is it administered and controlled?

The governance of the Muze Network charitable giving initiatives will be managed through a special discussion forum in the Muze Network platform. Community Managers and liquidity providers will be able to participate, if they wish. 

What is the MUZE token?

The MUZE Token is a BEP20 token, supported by the Binance Smart Chain, and trading on PancakeSwap. It is the utility token for the Muze Network and is used as a bridging token for those wishing to exchange their Energy Coin for cryptocurrency and/or fiat currency. It also funds the management, administration and development of the Muze Network it’s the community management software platform. It also funds charitable initiatives that are a permanent part of Muze Network operations.

When will the MUZE cryptocurrency be available to purchase and trading?

The MUZE token will be available to purchase and trade May 1, 2021 on major Defi exchanges. Check here on our website and subscribe to our email list to get updates about the launch of MUZE.

Can I purchase and trade MUZE outside the Muze Network community?

Yes. Just like any other cryptocurrency you can trade it on major Defi exchanges. As such, you can trade it for any other major or minor cryptocurrency and exchange it for fiat currency, such as US Dollars. You can also participate in MUZE liquidity pools and liquidity pool incentive programs. Read up on Liquidity pools in these blog articles to see if they might be right for you.

When will the MUZE Network be available for Community Managers to start building their communities?

The current anticipated launch date is June 1, 2021.

Can I purchase MUZE Cryptocurrency before the launch of the MUZE Network?

Yes. We will launch MUZE and list it on major Defi exchanges a month before the launch of phase one of the Muze Network community platform. The anticipated launch date is May 1, 2021. Subscribe to our email list to get all the updates and news about developments.

Are there plans to improve and develop the MUZE Network after the phase one launch?

Yes, always. In the coming weeks, a phase two development roadmap will be outlined in detail here on our site. Development and growth of the Muze Network Community Platform will be funded and driven by the equity Muze Network LLC holds in MUZE.

What incentives and benefits are there to acquiring or purchasing MUZE before the Muze Network launch?

By being a ground floor owner of MUZE, you will help build and grow a revolutionary new kind of community platform. There is also tremendous upside potential in owning a new cryptocurrency backed by a plan for sustainable growth.

Also, rewards for those who want to participate in liquidity pools will be an important part of our launch and development plan. 

Why is a digital currency like Energy Coin and a cryptocurrency, specifically MUZE Token, important to the Muze Network project? What problems does it solve and opportunities does it present?

The foundation of tools we’ve pulled together, namely, a unique digital currency for each community (Energy Coin), a utility token like MUZE and Defi exchanges like PancakeSwap, provide the power needed to create digital economies for online communities, like never before. By being able to support each community’s Energy Coin with an equal amount of MUZE tokens, we’ve guaranteed the value and market cap of each community.

What is the Muze Network platform built on?

The Muze Network community management platform is built on WordPress, the most popular and well supported content management system in the world. WordPress runs over 64 million websites and about 30% of sites running on the Internet. This fact is critically important to development plans for the Muze Network. Phase Two of the Muze Network platform, already under development, will expand it’s potential reach by releasing the Muze Network Plugin. This plugin will allow WordPress website to safely and securely connect to and participate in the Muze Network foundational infrastructure we’ve built. Developers and community managers with established websites and communitties will be able to plugin to the power of community economies, the Muze Network ecosystem enables. Anticipated release date for Muze Network Phase two is first half of 2022.

What is a liquidity pool and how do I benefit and participate?

In short, liquidity pools are a Defi exchange mechanism which facilitates trading of cryptocurrencies, without the need to be listed on traditional exchanges. Some of the biggest and most well funded cryptocurrencies trade and were founded with the power of Defi exchanges and their liquidity pools. In phase one, the MUZE token will be tradeable on PancakeSwap, the largest Defi exchange in terms of trading volume. Check out our Muze Network liquidity pool page for more information about how to become a liquidity provider and feel free to contact us.

By participating in the MUZE liquidity pool on PancakeSwap you receive the following benefits.

  1. Muze Network liquidity pool rewards – Muze Network will distribute additional amounts of MUZE to liquidity providers each month, based on their average stake percentage in the pool. This reward amount is currently 16.67% monthly.
  2. Transaction fees – When trading occurs using a particular liquidity pool, PancakeSwap charges the initiator a transaction fee. Those transaction fees are accrued to the liquidity pool participants, based on their relative share of the pool. If you had a 10% share of the liquidity pool, you would accrue 10% of transaction fees.
  3. Charitable giving decision making – If they wish, liquidity pool holders gain a stake in charitable giving decisions. A portion of MUZE is always set aside for charitable giving initiatives.
  4. Be a founding partner – Early liquidity pool participants are essentially like a founding partner, providing critical seed funding that will allow Muze Network to operate, grow and flourish. You are literally helping us to build the Muze Network.

Stay connected and informed about all the liquidity pool incentive programs by subscribing to our email list and monitoring our social media posts.

How does the Muze Network operate and how is it funded?

The Muze Network’s development, growth, and management is backed entirely by the MUZE cryptocurrency. Come help us build this thing!