Chirp aims to be the network of everything, powering connectivity supported by a range of communication technologies. Blockchain enters to align incentives among its different stakeholders, both for access to the network and to reward those supporting it.
In the previous article, we presented the fundamental principles of how Chirp is designed, namely the long-term sustainability, the Chirp flywheel and design for real-world adoption. Now we will explore the roles of different participants in the Chirp economy.
Stakeholders
These are made up of individuals, companies or other entities that have a significant role in the Chirp economy. They are the ones who enable the Chirp Economy flywheel to spin and accelerate its growth.
Network Users
The end users of the Chirp network. They connect devices to the network and purchase Access Badges for the purpose of using the network.
Relevant roles:
- Acquire Access Badges;
- Utilize the network by connecting devices that use the Chirp network;
- Participate in the governance process.
Network Keepers
The ones that purchase hardware in order to provide coverage for the network and are rewarded with $CHIRP for that coverage and for transmitting data over the Chirp network.
Relevant roles:
- Provide coverage for the network;
- Owning and registering Blackbirds and other gateway devices;
- Earn $CHIRP rewards for the coverage and data transfers provided;
- Participate in the governance process.
Investors
Individuals or companies funding the development of Chirp by participating in the investment rounds. Investors purchase the right to receive future emissions (token distribution).
Relevant roles:
- Fund the development of the network;
- Earn $CHIRP rewards for funding the project;
- Create awareness for Chirp’s network.
Chirp Team
The founding team, responsible for the ideation, design, development and implementation of the Chirp network. They are entitled a share of future token emissions.
Relevant roles:
- Design, develop and implement the Chirp network;
- Maintain Chirp network’s infrastructure;
- Perform updates;
- Work on future developments and expansions of the network;
- Participate and implement governance decisions;
- Earn $CHIRP rewards for performing these actions.
Telecommunication Partners
Third parties that partner with Chirp Network to provide infrastructure access to support communications, outside of the immediate reach of the communication signals and technologies directly provided by Network Keepers.
Relevant roles:
- Expand network utility;
- Create awareness and credibility for Chirp’s network.
Token Holders
All above mentioned stakeholders and other agents (such as speculators) that have $CHIRP on their digital wallets.
Relevant roles:
- Maintain attractiveness of the token;
- Participate in the governance process.
Unleashing the Power of Web3
Web3 represents a shift of the internet to decentralized networks that are owned and managed by its participants across the globe, as opposed to centralized operations that are managed by a handful of organizations. Blockchain technology is the main enabler of Web3.
Observing our stakeholder map, there are two main stakeholders that are key to growing network demand and supply: Network Users and Network Keepers. By unleashing the power of Web3, we align their incentives to participate in the Chirp economy, respectively by using the network and by providing coverage for it, sharing the value created by Chirp.
This is why we are committed to building a community from scratch, to bootstrap this growth and incentivize participation and coordination among the different stakeholders. Being a decentralized network, we also perceive our stakeholders, particularly the Network Keepers, as local leaders in their physical communities, promoting growth for the demand side of the network. This is why we are designing tools for them to participate in the network as effective local business developers for Chirp.
Bottom line, we’ve designed an Economy that is self-sustained by its stakeholders and that will thrive on that basis. Participation will be key.
Are you ready to embark on this journey that will take the Internet of Things to the next level? It’s time to pick your role. chirptoken.io
