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RE: HOPE TOKEN - important question: WHY and WHAT FOR? [join discussion]
If there's a way to integrate the tokens to work similar to steem, it will be great. Just like neoxian city, holders will have the power to reward others via upvotes. I think this is a good usecase, else, it will be hard to prevent it from being another pump and dump token.
That said, I don't think having a community token is a bad idea, while I'm not a fan of creating too many (useless) tokens, I think hope token will be great addition is the community stands by it.
Hi @joelagbo
Thanks for dropping by buddy, but .... I'm not sure if you've read part "general idea" above in the post. Your comment makes me believe that you actually didn't :(
Cheers, Piotr
Uhm, I did. Just suggesting an alternative way for distribution which will give holders an advantage, automatically.
Yes, I understand you @joelagbo. Because if it isn't done like you suggested, how will distribution then be done in the future and automatically @crypto.piotr?
Because at first, we(PH-Members) would be airdropped some HOPE tokens and then, it will have some value whenever we vote. So, the more HOPE tokens you have, the more curation rewards you will get from holding HOPE tokens. I think that's the only way we can have a sustainable future and which will lead to price appreciation of the HOPE tokens.
hi @menoski, @joelagbo
There won't be automatical distribution. I will use that token to reward group of PH core team members on montlhy basis. Based on level of their engagement.
And since demand will be coming from using part of beneficiaries - this way all involved will in a way receive piece of those "beneficiaries" for themselfs.
It's all about managing supply, encouraging people to hold during initial period and creating demand. If I can achieve those 3 things - then I would not expect price dump.
I don't understand that part. I think you're looking at LEO tokens (and similar ones) as a point of reference. Which is not the case here.
Let me give you an example:
let's say that I would see that you engaged in 100 quality comments within month of April. You would then receive 100 HOPE tokens.
You won't be staking them. You won't be receiving any interest for holding them. The only reason to hold will be: to profit more assuming that price of HOPE token will increase. And it will, assuing that amount of beneficiaries will be increasing.
At the same time, 30% of all beneficiaries would be used to buy-back HOPE tokens from the market.
You own't be receiving any HOPE tokens for curation. We won't have any separate platform. We will still operate here on Steemit.
Hopefully Im making some sense,