Original｜Odaily Planet Daily (@OdailyChina)
In the early hours of August 6, the live streaming platform Sidekick, which focuses on the "LiveFi" concept (translated by Odaily Planet Daily as: live streaming with cryptocurrency), announced the establishment of the Sidekick Foundation and the launch of its token K, aimed at supporting the ecological development of content creators. Subsequently, Binance Alpha released an announcement stating that Sidekick (K) will be launched on August 8. Upon hearing the news, users who had previously interacted with the project through online live streaming and content engagement were thrilled, hoping to earn a significant profit. Odaily Planet Daily will provide a brief analysis of Sidekick's token issuance and the LiveFi track in this article.
Sidekick Token Economics: Total Supply of 1 Billion, Community Incentive Distribution 20%, Initial Circulation Ratio 11.13%
According to Sidekick's official announcement, token K is the native utility and governance token of the Sidekick platform, used for tipping, subscriptions, unlocking exclusive content, participating in governance, etc., aiming to build an on-chain live streaming economic model centered around the concept of "attention as an asset." Specifically, the main functions of the token include:
- Real-time gifting: Use K to instantly tip creators or send gifts, enhancing interaction between creators and viewers based on on-chain operations.
- Premium membership: Unlock exclusive live streams, VIP chat rooms, and early token distribution; staking K tokens can provide more content access and privileges.
- Staking and subscriptions: Stake K tokens to increase exposure, unlock rewards, and join loyalty programs curated by creators.
- Creator monetization: Streamers can earn token K through tips, subscriptions, and rewards, and can initiate token threshold activities and exclusive airdrops.
- Creation proof rewards: Active content creation and community growth will earn K token rewards, promoting the development of the creator economy.
- Governance: K token holders can propose and vote on platform upgrades, incentive models, and the future direction of Sidekick.
Overall, Sidekick's future product development direction combines attributes of paid communities like OnlyFans and live streaming platforms like TikTok, with token K having certain consumption scenarios and governance token functions.
K Token Economic Model
Specifically, the total supply of token K is 1 billion, with an initial circulation of 111.3 million (accounting for 11.13% of the total). Token distribution includes: ecological growth (20%), long-term community incentives (20%), liquidity incentives (4%), foundation (16%), advisors (5%), core contributors (15%), and investors (20%). Shares for investors, advisors, and core contributors will be locked for 12 months, followed by a linear unlock over 24 months. The initial circulating supply of K tokens is 111.33 million (accounting for 11.13% of the total token supply), including:
- Ecosystem growth (6.883%);
- Long-term community incentives (1.5%);
- Liquidity incentives (2%);
- Foundation allocation (0.75%).
Additionally, according to Sidekick's official disclosure, after nearly 4 months of operational development, the platform has evolved from its original product prototype into "the world's first LiveFi platform"—a vibrant, creator-driven ecosystem, where:
- Total active users: over 147,000;
- Monthly active users: 57,000;
- Number of registered streamers: over 1,000;
- Average interaction time per active user: 37 minutes.
From the perspective of user scale, the Sidekick platform is relatively small, and the overall economic system of the platform operates inefficiently; however, from the average interaction time of active users, the platform shows relatively high user stickiness. (For comparison, a stay duration of over 2 minutes in Douyin live rooms is already considered good data, of course, the scale of platform creators and user numbers are not comparable).
So the question arises, is the LiveFi track really established? Can its core concept of "attention as an asset" hold up?
Can Sidekick ignite the LiveFi concept? Currently, it remains questionable.
In the rapidly changing narrative and concept-filled cryptocurrency market, the concept of "XX Fi" is emerging endlessly, from past DeFi, GameFi, SocialFi, to this year's InfoFi, which gained fame with Kaito, and PayFi, which became popular with stablecoin payments. It is not an exaggeration to say that, like the previous NFTs, "everything can be Fi."
However, the establishment and sustainability of a track cannot rely solely on a fabricated term, but rather on three key criteria:
1. What is the capacity of the track? In simple terms, can it support multiple projects or even different sub-sectors?
2. How sustainable is the wealth effect of the track? Can a track attract more liquidity through concepts and narratives, providing users and platforms with a continuous wealth effect?
3. Is there irreplaceable value in the track? Does a project within a track possess necessary value that meets user needs? For example, the payment needs of PayFi, the profit-seeking and marketing needs of InfoFi, etc.
From the Dune data dashboard, it appears that Sidekick's current development is still in its early stages, making it difficult to serve as evidence for the sustainability of the LiveFi track.
As of August 6, the live streaming tipping revenue (streamer income) on the Sidekick platform was only $103,700; on August 5, the tipping revenue was around $3,100.
Platform Revenue Chart
Specifically, looking at the on-chain tipping user stratification model, among approximately 8,200 tipping users, a staggering 80.9% spent less than $5. In other words, if your tipping amount on the Sidekick platform exceeds $5, congratulations, you are already above 80% of users!
Tipping User and Amount Statistics
Furthermore, from the perspective of live streaming creators, according to X platform user Rita (@Mimoo 1201), who previously made statistics in May, the top 5 users on the Sidekick platform's live streaming leaderboard mainly focus on interactive actions like chain scanning and trading, lacking the true mainstays of live streaming platforms—top tipping users and the best atmosphere creators.
In summary, the LiveFi concept of Sidekick appears more as a hype for cryptocurrency projects rather than a new direction for the crypto track.
Of course, based on current information, the development status of a project and the performance of its token price often do not have a necessary correlation, and whether token K can replicate the upward trajectory seen with previous tokens B and C on exchanges like Binance will still depend on the willingness of the project team and market makers, as well as the market's recognition of its future development path.
At that time, Odaily Planet Daily will monitor its specific market performance alongside market users.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
