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Celody And Stakedy Colored IOTA Token On DevNet

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Summary Argument: Celody tokens are now able to be generated and used in a production setting. This article explains how to generate tokens, use them inside of celody.com and stakedy.com, and transfer them to the IOTA DevNet as colored coins.  127 tokens
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Celody generates a private key for you to access withdrawn tokens. If you lose this key, you will lose access to your tokens. So keep it safe! Celody does not store these keys.

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     Celody.com and stakedy.com are both original products that are exclusive to the IOTA ecosystem and use the IOTA token. Celody is a music powered world full of A.I. generated people. Stakedy is a solution to media bias where posts are made accountable through token staking and slashing.
     The Celody token is generated by listening to music. Simplistically, you can think of this as "proof of music". On either celody.com or stakedy.com, just tap the play music button and this should start the token generation process. After listening to the music stream for a certain time period, the tokens should appear in your session. In addition to listening to music, there are other ways to get tokens, including music curation and artist song submission.
     Tokens can move in a basic circle, from Celody to the IOTA Tangle and back to Celody. They start in a session on Celody. Sessions are impermanent, only last for 24 hours, require no wallet downloads or extensions, and assume no previous crypto knowledge. To store your tokens beyond 24 hours, move them from your session into a Celody wallet. A Celody wallet is internal to the celody.com website and includes a 2FA security mechanism. Once in a wallet, you can then withdraw the tokens to the IOTA DevNet. All tokens are fungible, so 1 token in a session can be moved as 1 token into the Celody wallet which can be moved as 1 token into the IOTA Tangle. From the IOTA Tangle you can move the tokens back to a session inside the website.
     Tokens are used throughout Celody and Stakedy. Inside Celody, tokens are used for elections, voting, playing games, interacting with digital people, rewarding musicians, and more. On Stakedy, tokens are used for staking and slashing posts. A key feature of Celody tokens is the 24 hour session expiration, which means that tokens not withdrawn to a wallet must be spent or lost. Since only a certain percentage of tokens can be withdrawn, this provides an incentive for using the Celody token inside a session and not hoarding it.
     Celody and Stakedy are early projects. Limitations are currently in place to protect users and ensure ongoing development. Because the IOTA DevNet is not a production environment, breaking changes can wipe out tokens during a reset. For this reason, there is only a small number of digital assets allowed on the DevNet. Any tokens transferred from a Celody wallet to the DevNet should be considered experimental. Don't bridge any tokens that you are not willing to lose. This limit will be eliminated after the mainnet migration.
     Celody runs in parallel to the Tangle and connects using a bridge. Think of Celody as a connected side-chain. The goal is for there to be a simple code swap of the bridge after coordicide. Any tokens stored in the internal Celody website wallet should be immediately available to be withdrawn on to the coordicide network after the migration. So tokens held in the Celody wallet should be secure both during both the testnet and mainnet phases.
     Celody believes in decentralization over centralization. Currently, Celody uses the IOTA 1.5 Mainnet to record the decentralized music submission process. The quorum details and votes are stored in the Tangle and can be audited. Also, the tokens can be bridged to the decentralized DevNet and used for other purposes outside of Celody. In the future, the goal is to announce more features of decentraliztion.
     Celody has chosen IOTA for several reasons. First, IOTA is pioneering original cryptocurrency concepts. Celody prefers in originality over fast-following clones. The vision of an Internet Of Things isn't just for physical machines. The A.I. people inside of Celody can be seen like digital agents inside of IOTA's vision. Second, IOTA has proven its resiliency over the years. The fact that it has been attacked, recovered and is still progressing, speaks volumes. Third, the IOTA community has been the most supportive and open to Celody's development. Hopefully, the support will continue.

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