Skyhitz Documentation
Welcome to the Skyhitz technical documentation. Skyhitz is a decentralized music platform powered by the Stellar blockchain, featuring sustainable tokenomics with the HITZ token in post-exhaustion distribution mode.
What is Skyhitz?
Skyhitz is a music streaming and investment platform where:
- Listeners pay small HITZ fees to stream, like, and download tracks
- Investors stake HITZ tokens to gain equity in music entries and earn ongoing rewards
- Miners bring external music onto the platform and stake as initial stakeholders
- Verified Artists set non-dilutable equity on their uploads and earn ongoing rewards
System Overview
Post-Exhaustion Model
The HITZ token supply is fully issued (~20M of 21M max). The system now operates in distribution-only mode:
- No minting: Supply is exhausted
- 1:1 staking: Fee paid = stake amount
- Treasury distribution: 0.05% of treasury distributed daily
- 12-year curve: Bitcoin-like sustainable emission
Single Contract Architecture
Skyhitz runs on a Skyhitz Core Contract (Soroban):
- Records all user actions (stream, like, download, mine, invest)
- Manages HITZ token staking for equity positions
- Handles fee collection and treasury management
- Distributes HITZ rewards to entry pools
The HITZ Token is a Stellar Asset Contract (SAC) with the Core contract as admin.
HITZ Token Economy
- HITZ Token: Used for all fees, staking, and rewards
- Max Supply: 21,000,000 HITZ (fully issued)
- Decimals: 7 (1 HITZ = 10,000,000 stroops)
Two Revenue Streams
-
Escrow (Performance-based)
- Generated by micro-spend actions: stream, like, download
- Fees go to Treasury
- Increases entry's escrow value
- Used for proportional reward distribution
-
TVL (Total Value Locked - Equity-based)
- Generated by equity actions: mine, invest
- Fees become stake in contract
- Grants proportional ownership and reward claims
Quick Start
For New Users
- Start with Tokenomics & Rewards to understand the economic model
- Read User Action Flows to see how actions work
- Learn about APR Calculation to evaluate investment opportunities
For Developers
- Review the Stellar & Soroban Contracts documentation
- Explore the Contract Source Code
- Check out the GraphQL API documentation
For Platform Operators
- Understand the Treasury Bot System for automated distributions
- Review Deployment Procedures for contract updates
- Study the APR Math for monitoring platform health
Key Features
HITZ-Only Economy
All platform activity uses HITZ tokens:
- Stream a song → 0.1 HITZ fee
- Like a track → 0.2 HITZ fee
- Download → 0.3 HITZ fee
- Mine a track → 1.0 HITZ (becomes stake)
- Invest → 3+ HITZ (becomes stake)
Staking & Ownership
Mine and Invest actions require staking HITZ tokens:
- Stake is locked in the contract (1:1 with fee)
- Grants proportional ownership in the entry
- Enables claiming rewards from the entry's reward pool
- Ownership percentage:
your_stake / total_staked - Can unstake at any time
Artist Equity (Non-Dilutable)
Verified artists can set non-dilutable equity when uploading:
- Up to 99.9% artist equity
- Never diluted by fan investments
- Supports collaborations (multiple artists per entry)
- Separate claiming from staker rewards
Example:
- Artist sets 20% equity on upload
- Entry earns 1000 HITZ in rewards
- Artist claims 200 HITZ (20%)
- Stakers share remaining 800 HITZ (80%)
Treasury Distribution (Bitcoin-Like)
The Treasury bot automates reward distribution with rate limiting:
- Treasury holds HITZ from fees and recovered funds
- Daily: Distributes 0.05% of treasury balance
- Distribution proportional to entry escrow (engagement)
- Creates 12+ year sustainable emission curve
Emission Timeline:
| Year | Cumulative Distribution |
|---|---|
| 1 | ~17% |
| 4 | ~52% |
| 8 | ~77% |
| 12 | ~88% |
Fixed Supply
HITZ token has fully issued supply:
- Max supply: 21,000,000 HITZ
- Current supply: ~20,000,000 HITZ
- No more minting possible
- Rewards from treasury distribution only
Documentation Structure
Tokenomics
- Rewards Overview: Complete guide to the reward system, actions, and claiming
- User Action Flows: Detailed flows for all user actions and treasury operations
- APR Calculation: How APR is calculated and what it means
Backend
- Stellar & Soroban: Contract architecture, storage, and methods
- GraphQL API: API schema and resolvers
- Algolia Search: Search indexing and synchronization
- R2 Storage: Media storage and CDN
Frontend
- App Structure: Application architecture and navigation
- Player: Music player implementation
- Search & External: Search and external music integration
Operations
- Treasury Bot: Automated reward distribution system
- Deployment: Contract deployment and upgrade procedures
Getting Started
Use the left sidebar to explore different sections of the documentation.
If you're new, we recommend starting with:
- Rewards Overview - Understand how the system works
- User Action Flows - See detailed flow diagrams
- Stellar & Soroban - Learn about the smart contracts
Key Concepts
Actions
All user interactions are recorded as actions with difficulty levels:
- Stream (difficulty 1): Listen to a track → 0.1 HITZ fee
- Like (difficulty 2): Like a track → 0.2 HITZ fee
- Download (difficulty 3): Download a track → 0.3 HITZ fee
- Mine (difficulty 10): Bring external music to platform → 1.0 HITZ stake
- Invest (dynamic): Stake more in an existing entry → 3+ HITZ stake
Fee & Stake Model
Fee = base_fee × difficulty
For staking actions (mine/invest):
Stake = Fee (1:1 ratio, no oracle)
Staking
Equity actions (mine/invest) stake HITZ directly:
Stake = Fee Paid
Example:
- Mine (1 HITZ fee): 1 HITZ stake
- Invest 10 HITZ: 10 HITZ stake
APR (Annual Percentage Rate)
APR shows projected annual returns for stakers:
APR = (reward_pool / total_staked / days_elapsed) × 365 × 10000
Returns are in basis points (10000 = 100% APR).
Claiming
Stakers claim rewards proportional to their ownership:
Claimable = (your_stake / total_staked) × staker_pool - already_claimed
Where staker_pool = reward_pool × (100% - artist_equity%)
Claims can be made anytime and don't affect your stake.
Platform Statistics
Track these key metrics:
Token Metrics
- Total Supply: ~20M HITZ (fixed)
- Treasury Balance: Available for distribution
- Daily Distribution: 0.05% of treasury
Entry Metrics
- TVL: Total HITZ value locked in stakes
- Escrow: Total HITZ from engagement actions
- Total Staked: Total HITZ staked by users
- APR: Annualized return rate for stakers
- Reward Pool: Available HITZ rewards
User Metrics
- Actions/Day: Platform activity level
- Average Stake: Typical stake size
- Claim Frequency: How often users claim rewards
Support & Resources
- Documentation: You're reading it!
- Contract Source:
packages/api/contract/ - API Source:
packages/api/ - Frontend Source:
packages/solito/
For security issues, email: security@skyhitz.io
What's Next?
Choose your path:
📊 Understanding Economics → Start with Rewards Overview
🔧 Technical Implementation → Start with Stellar & Soroban
🎵 Using the Platform → Start with User Action Flows
🚀 Operating the System → Start with Treasury Bot