December 4, 2023

Steelo Litepaper: vision through technology

With Steelo, the future of the creator economy is not just envisioned but actively constructed - a future where creativity, freedom, and shared success are not mere ideals, but the foundational pillars of a vibrant digital world.

Steelo Litepaper: vision through technology

Introduction and Overview of Steelo

Revolutionising the Digital Creator Economy

Steelo stands at the forefront of the digital revolution, uniquely designed to empower creators and communities in the rapidly evolving web3 era. It represents a transformative blockchain infrastructure, integrating cutting-edge technologies to redefine interactions in the digital realm. This platform bridges the long-standing gap between creators and their audiences, offering a new paradigm of control, engagement, and participation through blockchain's transparent and decentralised nature.

Addressing Market Gaps

Steelo's emergence in the digital space is a response to the existing market gaps, primarily the lack of direct and meaningful interactions between creators and their communities. It leverages blockchain technology to forge a closer bond between these two pivotal entities, offering creators unprecedented control over their content and engagements, and providing communities with a more immersive and interactive experience.

Dual-Token System: The Core of Steelo

At the core of Steelo's innovative framework is its dual-token system, a hallmark feature that drives both platform governance and creator-community interactions:

$Steelo – SteeloToken: Empowering Governance roles and Transactional utility

Transactions: It facilitates the platform’s CreatorToken transactions, aligning with Steelo's vision of a seamless, transparent and inclusive economic environment.

Staking: Users can stake their $Steelo to participate in SIPs, earning rewards for contributing to the platform's liquidity and sustaining its long-term value and utility.

Governance: SteeloToken is integral to platform governance via Liquidity Provision, encapsulating community participation and decision-making in the ecosystem.

$Steez – CreatorTokens: Enhancing Creator-Community Bonds

Empowerment: CreatorTokens are designed to strengthen the bond between creators and investors, offering exclusive content, community and experiences.

Engagement: Through CreatorToken, the platform embodies its commitment to elevating the creator's presence and fostering deeper community engagement.

Value Redistribution: CreatorTokens enable a regenerative economic model where value/transaction fees are redistributed to the creators and back to the community, ensuring a cyclical benefit and a sustainable creator economy.

Core Features and Technical Aspects

Advanced Consensus Mechanism

Our protocol integrates Polygon 2.0's ZkEVM side-chain CDK, offering an advanced, customisable layer 2 scaling solution. This technology ensures a secure, efficient consensus mechanism, vital to the platform's functionality. It also leverages Ethereum's Proof of Stake (PoS) validators, allowing Steelo to inherit the security and reliability of the EVM network, enabling the safeguarding of user assets and data. Furthermore, the adoption of Polygon's technology significantly lowers transaction fees, making operations on Steelo more economical compared to traditional Layer 1 solutions.

Smart Contract Innovation

Steelo's approach is designed to be future-proof, employing the Diamond Standard (EIP-2535) for its modular update capabilities, which negates the need for migrating to new contracts and ensures adaptability and longevity. Smart contracts, intricately developed in Solidity, are capable of handling a broad spectrum of operations, from governing the platform to managing intricate transaction processes. To facilitate a seamless transition from development to live operational status, Steelo has optimised the deployment process utilising established frameworks like Truffle and Hardhat, which are known for their robust security and efficiency.

Interoperability and Data Management

Steelo's design harnesses the synergy between Ethereum/Polygon, augmenting its financial ecosystem and underpinning a myriad of DApps. Incorporating Uniswap facilitates seamless trading, while the Lens social network fosters community interactions. Lido integration offers robust staking options, and Safe's security protocols ensure transactional integrity. Utilising Arweave/IPFS ensures immutability/efficiency. Complemented by Amazon S3/Firebase, this system secures data integrity and meets the dynamic needs of content, thus providing security and superior user experience.

Unique Selling Points

SIP: Steelo Improvement Protocol

Democratic Model: Steelo's governance is underpinned by the SIP system, embodying a decentralised and democratic approach. This model empowers $STEELO holders to actively participate in decision-making processes, shaping the platform's evolution.

User Empowerment: By allowing users to propose, discuss, and vote on platform developments, Steelo ensures that every member's voice is not just heard but can lead to actionable change.

Community First

Creator and Community Alignment: Steelo stands out with its innovative dual-token system. It aligns the success of creators with the investment of the community, fostering a symbiotic ecosystem where both parties thrive.

Dynamic User Engagement: The platform's dynamic profiles and vibrant marketplace further enhance user engagement, making Steelo a unique player in this industry.

Security and Compliance

Rigorous Audits and Monitoring: Steelo commits to a proactive security stance with comprehensive audits via OpenZeppelin/Consensys Diligence, real-time monitoring, and a dedicated security team, ensuring a safe and reliable platform for all users.

Regulatory Adherence: Aligning with global regulatory standards, especially FCA’s FSMA and EU’s MiCA, Steelo's security infrastructure is designed to meet the highest compliance requirements, ensuring user trust and platform integrity. This regrettably excludes the US (for now), due to their regulatory stance on non-US crypto services.

Steelo’s Vision

Roadmap to launch

2023-2024: Initial phases focus on solidifying Steelo's infrastructure, followed by closed alpha and open beta testing to refine core features based on user feedback.

2025: The roadmap culminates in a full public launch, including all 5 key app features and initial creator ambassadors, with a post-launch focus on scaling the platform and enhancing community-driven features.

Beyond 2025: Steelo aims to continuously evolve, integrating emerging technologies and expanding its global footprint. The focus will be on security, regulatory compliance, scalability, enriching the creator economy, and fostering a robust, passionate community.

Disrupting the Creator Economy’s Status Quo

Steelo embarks on an ambitious journey to redefine the metrics of success and value in the creator economy. It aims to establish a new standard that accurately reflects the diverse and multifaceted nature of art and content. This innovative approach transcends traditional measures, capturing the essence of creativity in its various forms and genres. Steelo's vision is to create a system where the value of creative work is recognized not just in terms of monetary gains but also through the depth of engagement and the resonance it finds within its community and the creator’s aura.

In this reimagined landscape, conversations around creator value take on new dimensions. Phrases like, "Did you see Joey Bada$$'s last movie? I knew I should've grabbed his $Steez sooner" become common, encapsulating the excitement of participating directly in a creator's success. The value of CreatorTokens becomes a tangible representation of a creator's impact and appeal, shifting the focus from passive consumption to active and meaningful engagement that feeds supporters.

Similarly, remarks such as, "Can't believe Jorja Smith is following me! Probably ‘cause of my Steelo portfolio" highlight the intertwined nature of creators and their communities within the Steelo ecosystem. Here, the value of a user’s portfolio transcends mere financial worth, becoming a badge of cultural insight and creative foresight. This symbiosis of creators and community fosters a vibrant and dynamic market, where the success of one feeds into the growth of the other.

In essence, Steelo is not just disrupting the creator economy's status quo; it is crafting a new paradigm where the value of art and creativity is gauged by its impact and connection, where creators and their supporters co-create the future of the digital realm. This vision propels the creator economy forward, towards a horizon where creativity is valued in its truest form, and every stakeholder has a share in its triumph.

Join us as we pave the way for a future that celebrates and elevates the true essence of creativity