HOPE TOKEN - important question: WHY and WHAT FOR? [join discussion]
INTRODUCTION
Many of PH (project.hope) community members are already familiar with my idea of launching our own HOPE token. Many of you already understand the general concept of this community token and we've discussed its token-economics (business model) and during those brainstorming sessions, @karamyog and @nomad-magus asked me a very simple yet extremely valid question:
if we have hive/steem, why would one want a PH token?
Below, I will share my 3 reasons and explain each one. But I will start by explaining the general idea behind the HOPE token.
GENERAL IDEA
Let's start by explaining in a few sentences the general idea of community HOPE token.
My assumption is that people who read this publication are most likely PH members and are already aware of Project.hope business model. You can read more about it here:
PROJECT HOPE ECONOMY EXPLAINED [2021]
In short: all authors publishing their posts within our community are setting up beneficiary to @ph-fund and those funds are being used to cover various expenses and are allowing us to continue on a steady growth.
I would like to build a model, in which our community members are being rewarded with HOPE tokens based on their level of commitment and engagement. At the same time, a large part of all received beneficiaries (let's say 30% of all liquid steem) would be used for buy-backs and burns. Which in return would create demand for that token.
It's almost like creating a company which is paying their employees some BONUSES in the form of company shares, while at the same time using a significant part of revenue to conduct buy-backs from the market.
It's nothing new and I'm sure most of you are aware of such a business model.
REASON 1: WHY to launch HOPE TOKEN instead of using STEEM?
Till today, I've been using part of those funds (beneficiaries) to support financially (with STEEM tokens) a group of several most active and engaging members. However, this solution had its own challenges and I didn't like it that much.
After all, other crypto projects (like Ethereum, Solana, various of DeFi etc) are also rewarding supporters and community members for their efforts with their own native token, instead of providing them with ETH, bitcoin or stable coins.
There is a reason why those crypto projects are trying to attract supporters and investors while providing them with an opportunity to earn if they invest in a token and hold it.
Even with miners - they get rewarded in native tokens for doing some "work".
CASE of HOPE TOKEN:
In OUR CASE, I want to reward people who participate and who invest their TIME and ENERGY (instead of money) and who hold to that token. Assuming that its value will grow in the long run.
I strongly believe that the HOPE token price will increase with time. Assuming project.hope will grow in voting power by attracting more delegations and expanding the current curation trail. So HOPE token will allow those who earn it to profit from the growth of our community.
Hopefully I'm making sense so far.
REASON 2: PERSONAL CHALLENGE
We all need ways to stimulate ourselves from time to time. One way to do it is by setting up long term goals and trying to achieve them. Right?
I've been involved in building Project.hope for almost 3 years already. And as much as I enjoy what I do and I love being part of such an amazing community, it is simply NOT ENOUGH anymore and I'm craving for more.
As PH, we have managed to build a strong team of people sharing similar interests, values and often goals. And I think now it is now the right time to BUILD SOMETHING TOGETHER.
Especially since I've realized (after having discussion with several of our members) that others often feel the same way about it, and the idea of launching our own HOPE token is very popular and many of us would like to try and see where that path takes us.
REASON 3: BONDING, LEARNING and BUILDING TOGETHER
We've already achieved a lot as a community. I would say that our biggest achievement is the fact that most of our members share a strong SENSE OF BELONGING.
Wouldn't you agree?
On top of that, within the recent months, several of our members were deeply involved in promoting other crypto projects like RobiniaSwap and WOX-defi. We've learned to collaborate together on another level and we all got some useful experience in the process.
And now it's simply time to use that knowledge and experience to launch OUR OWN TOKEN.
I'm very excited just thinking about all the work that is ahead of us. Knowing that we will learn many things together and share experiences with each other. Knowing that this will only build deeper engagement and trust between our core team members, building an even stronger sense of belonging and strengthening the current bond between me and those involved.
LAST WORD
Those are the 3 main reasons behind me working hard towards the idea of launching a HOPE token, and as you may have already noticed - it is not at all about attracting investors and raising money. My agenda is absolutely different.
I've mentioned already that I care about building a "sense of belonging" within our team. I see it as the foundation for Project.hope and I strongly believe that launching a HOPE token will bring us together even closer.
RESTEEM and SHARE YOUR FEEDBACK
I would appreciate every feedback, so spare several minutes and read through this post carefully. I read all the comments. Always.
Yours, @crypto.piotr
@project.hope founder
check out our community: https://steemit.com/trending/hive-175254
Good job! You just got yourself a 100% upvote from ACOM. Enjoy!
IMPORTANT note for @everyone:
I've received already few questions about progress behind launchign HOPE token and some of you were asking about some sort of timeline.
Process of launching HOPE token will take some time. I would not expect that we will do that earlier than 2-3 months from now.
I want to do it right and there are few different related topics, which I would like to discuss with every single Project.hope core team member (around 30 people). Collecting feedbacks, making adjustments and moving to another related subject - that will take time.
The most important for me is on which blockchain it will be built ?
We decided that Tron Network would be the best solution. Especially since it's quite well integrated with Steem blockchain
First of all I would like to say that hope token is the good idea this will help in the growth of the community.
And we have good Community which help in the growth of the project. I am eagerly wait for the new update.
With the help of the token we can increase the delegation of the community and we can grow more bigger.
There's really no doubt that @project.hope community has really impacted our lives positively as a member of the community and I also love the fact that this same community is found of rewarding people's effort for taking their time to create good quality contents and engagement within the community. This has really helped most of us go a long way in the world of cryptocurrency, Blockchain technology, business/entrepreneurship and even other top trends in our world technology today.
I have been part of the community for the past 3 years and I am very happy to say that @crypto.piotr has really used @project.hope community to change my life because I would have gave up being a content writer due to the fact that good quality contents were not rewarded back then on Steemit except you are fortunate to have some whales visit your blog back then. It's really great that I now have that enthusiasm to write or post my contents on Steemit today because I'm highly optimistic that with Project Hope community on Steemit, there's definitely Hope for every aspiring writers out there to earn rewards for their effort or work in the community. This has also led to one of the reason behind people joining Steemit because they definitely believe that they will be rewarded for their effort through Project Hope.
Today, I am now than kind of person feels incomplete for the day whenever I don't create articles or engage on other people's posts. All thanks to @project.hope for building this in me and I'm also very happy with the friends I made in the community starting from @josevas217 @lupafilotaxia @franyeligonzalez @fucho80 @crypto.piotr @carlos84 @carlir @samminator @sandracarrascal @tfame3865 and many others... It's really nice knowing everyone of you and I definitely hope we will all continue to be part of this great community ❤️.
In summary and conclusion, I strongly agree with the opinion of creating Hope tokens as this won't only go a long way to develop our community, but it will also go a very long way to build the strong bond between us.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕❤️
I always love your comments @hardaeborla
Thanks again for taking the time to share your thoughts with me. It is greatly appreciated
You're always welcome @crypto.piotr ❤️💕
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,
Greetings, the reasons you state for which you decide to launch this project are well founded, the arrival of the HOPE token undoubtedly fills us with a greater commitment to each of the users of PH, because it is the currency of the community, together we can make this project crystallize and be a real success.
You have my full support for this project.
Hello friend @crypto.piotr, sorry for participating late in the discussion, I think your reasons are very valid and justified, I think that the creation of the token will allow the community to reach another level, it will undoubtedly encourage the commitment of its members, the token will motivate them to increase their participation, not to mention that it will leave us with a good learning throughout the process of creating the token.
hello @crypto.piotr,
It's certainly a big question that's not easy to answer, but here are my reasons:
as a member of this community and having so many benefits, it is important for me to strengthen the community.
for me it is important to strengthen the community and this can be achieved by creating an internal market that allows us to have a healthy and constantly growing internal economy.
To have an internal economy it is necessary to have our own money, a token gives us the possibility to have our own money and our own internal market, that would be the first reason to be part of a great challenge and obtain the benefits of an internal market.
the second reason is to be part of a great challenge, I think most communities eventually stagnate and this makes people lose interest, so being part of a great challenge gives us a great motivation to gain experience in developing internal economies of communities in blockchain, it is certainly a great privilege to be part of this challenge.
the third reason that motivates me is the gratitude towards a community that cares about its members, this community is growing little by little and each time it gives us better opportunities, that is why one way to thank the community is to give my best to see our community strong and growing.
in conclusion the possibility to gain experience in creating an internal market for a community that I am very grateful to is much more important than just getting a % of an investment, those are the reasons why I would like to support this token.
Thanks for dropping by @trabajosdelsiglo
I'm glad to see that you're supportive towards this idea.
It seem that we're both on the same page on that topic :) glad to hear it
Indeed. Baby-steps :)
Cheers, Piotr
Hello, I absolutely agree with the reasons you state, the growth of the community stems from the joint activity and commitment of all team members, so this boost that the community will receive with the launch of Hope token will be highly valued and appreciated For all of us.
I reiterate my absolute support for this new project.