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RE: More detailed info on #posh and #gosh

in LeoFinance2 years ago

I could give you one of the bullet points of the next stage of "artificial" tokenomics that we're thinking of deploying to hear your thoughts on it.

I don't mind it being public as it's already been discussed shortly in the past and we're pretty open about things anyway.

Basically, poshtoken's expenses aren't much and due to the way it operates and what it attempts to do (bring traffic from web2 to hive) it has been allowed by most stakeholders to earn a share of post rewards on automated daily posts which is not something I would be for in other cases but given the transparency we've strived for with POSH and since there's been no pre-mine/team allocation I think there's value to be gained here this way for stakeholders. Similar to how @hbd.funder comments bring some value to hbd stability and profits back to @hive.fund I deem it a bit similar to it.

On top of that we eventually started the "delegation for part of posh issuance" feature so we now have 2 income sources, curation rewards and post rewards. After paying for developers, maintenance costs the rest of our funds go towards @poshtoken.wallet which buys up POSH (now also GOSH) from the market. This isn't to be confused with @null, we're not burning these tokens the way a lot of POSH has been burned either by users not being registered but still eligibly POSHing or certain banned users still attempting to game the service and their potential tokens going to null.

With these bought back tokens we have other plans, but before I get there I have to mention that when we first created POSH we set a limit of 1m tokens. This was years back when we thought SMT's would exist on Hive by then or "layer 1 tokens" that we'd move over to. Right now we're at around 550k tokens issued out and before things start getting close we've decided the best move forward would be to start decreasing the amount of issuance where before we hit 1M the issuance of "new tokens" stops and instead during the decreasing issuance of new tokens we inject tokens we've bought back since into the distribution.

Say for instance if currently there's 500 daily tokens coming out, 250 to delegators, 250 to sharers, every week there'd be 5 less being distributed. Then for instance once the daily issuance is at 250 tokens and decreasing every week by 5, we'd start injecting 2.5 "bought back" tokens into the distribution so it's instead decreasing by 2.5 every week but some of it isn't pure inflation.

This would create a layer of distribution of tokens we've bought back, people holding would still hold and not really know any better, those selling would then sell into a second wave of buying back tokens from our program. Over time making it even more scarce and valuable with new additions as usecases, possible new sinks and needless to be said deflationary in nature.

We'd also want to do more things with the website, give people a reason to check it out a few times per day, get some adrevenue going which would help on not just relying on the hive reward pool for buy pressure and in general build more things on top of the token. We think that the token is quite unique in the way it has been distributed and the fairness of it all, where the first airdrop only went to people who've been sharing hive content before the token existed and everything having remained community-funded with the main goal of supporting the hive ecosystem with potential traffic, adrevenue (in the future) and of course potential new users and investors.

A lot more plans for the website but I'll save that for the actual post, let me know your thoughts if this is a feasible idea or if you think there's some issues down the line with it.