Testnet FAQ

Music Protocol is a blockchain technology fueled by the $RECORD token that manages music intellectual property. Its first product, Music Bond ($mbUSD), tokenises financing agreements backed by future music royalties. This lets accredited investors securely and transparently participate in the music industry while keeping their positions liquid. Unlike traditional real-world asset investments, $mbUSD offers access to one of the most profitable segments of the music industry.

Music is a closed asset class, inaccessible to most investors and lacking liquidity due to market complexity. Music Bond addresses this by creating an onchain system with a single token, $mbUSD, offering broad access and enhancing liquidity for both traditional and crypto investors.

All Music Bond underlying financing agreements are onchain, allowing precise tracking and transparent management. Music Protocol is undergoing all necessary regulatory approvals to ensure the highest level of security and transparency for its users.

The assets underlying $mbUSD are all tied to the music industry, specifically cash flows from streaming royalties and other digital channels.

Investors can buy $mbUSD tokens to earn yields from Music Bond financing agreements. The yield they receive can be estimated based on the underlying financing agreements, though it may vary depending on capital supply and the variability of the yields themselves.

Music Bond $mbUSD will be denominated in USD. Over time, additional tokens will be issued to provide investment coverage in different currencies and focus on specific royalty cash flows with more tailored risk profiles.

The $RECORD token serves multiple purposes within the Music Protocol ecosystem. It's set to be the native token for the Layer 1 blockchain used for broad music IP tokenisation. Additionally, $RECORD is key in the governance of Music Bond ($mbUSD). Holders will enjoy exclusive privileges, such as priority access to liquidity pools that function as Automated Market Makers (AMMs) for $mbUSD and other financial tokens issued on Music Protocol.

This app is the first version of the testnet for $mbUSD on an EVM environment and includes only basic functionality for purchasing tokens. The user onboarding process is straightforward: users mint native ETH and gnUSD+ on the Plume Test Network and then swap their gnUSD+ for $mbUSD on the Music Bond dApp. Additional features will be gradually added to the EVM testnet, allowing us to progressively explain and test all the operational and technological flows of $mbUSD.

1. Get $ETH and $GOON:
   Click here + Connect your wallet, select ETH, and click the [Get Tokens] button. You will receive ETH in your wallet within minutes. Once received ETH do the same procedure for $GOON

2. Swap $GOON with $gnUSD:
   Click here + Connect your wallet and follow the instructions. 

3. Swap $gnUSD with $mbUSD:
   Click here + Connect your wallet and follow the instructions.