FAQ

-- What is Crate? --

Crate is a song launchpad on the Base blockchain. We allow music to be tradable with instant liquidity by allowing artists to launch song tokens on a bonding curve.

-- What's the point? --

We believe that streaming models are broken and that artists should be able to earn money with uncapped upside. Fans should be able to listen to music for free, and if they want to support the artist, they can buy tokens and are incentivized to do so.

-- How does it work? --

In crypto, bonding curves are a way to control the price when there isn't a lot of liquidity. The price goes up as the token is sold. This pushes traders to buy songs early.
When the bonding curve is complete and 80,000 tokens are sold, the song is then launched on Uniswap where it will be tradable on the open market.

-- What is a song token? --

Song tokens are fan-powered, memecoins that represent attention. We took the problems of music NFTs (no liquidity, unit bias, and closed platforms) and fixed them. As of now, song tokens don't provide any utility. However, we are open to exploring fun perks such as token-gated song comments and social features.

-- How do artists make money? --

Artists have the ability to buy tokens first at the cheapest price. We recommend not selling the token too early (don't rug your fans). Also, we are experimenting with giving artists 0.5% on each trade from the bonding curve .