This addendum has been created to address all of the questions we have received throughout the preliminary time frame leading up to our proposal going live on September 14th, 2020. We hope this provides any answers you may be looking for.
Where does the money come from for proposals?
The funds in the Decentralized Hive Fund (DHF) are exclusively held for projects and programs that are made for the advancement of Hive and the Hive ecosystem. The DHF currently has funds already in it and is replenished from the daily production of our cryptocurrencies with a portion being allocated to the DHF. Funds not utilized remain in the DHF and accumulate, increasing the total available.
What will the HiveTips proposal money be used for?
The coder costs, full-time coding (8 hrs a day) for 12 months, and part-time for an additional 12 months.
All coder hours are recorded on timesheets and audited prior to payment.
24 months of target market online advertising.
24 months of servers.
Third party APIs.
Incidentals (which includes third party API costs as required for new platforms).
Why does this project have such a high cost?
The detailed business plan presented won’t cost the community a single cent from the rewards pool. Some projects in the past were funded with delegations worth millions of dollars. With the money made from the delegations combined with a predetermined percentage paid to them from product and service usage, they were able to fully fund their projects.
Examples:
SteemPress currently takes 5% from post rewards and will vote on users of their application and collects curation rewards to help fund their progress.
3Speak currently takes 11% of post rewards and will sometimes vote on its users to help pay for the housing of videos and fund their movement.
DTube currently takes 10% of post rewards from its users to help keep their platform alive and well and moving forward.
Actifit currently takes 5% of post rewards from active users to help fund themselves and their application.
We want creators on Hive and users of HiveTips to receive their maximum rewards and will take zero 'off the top'. HiveTips is all about making Hive mainstream by providing a use case scenario and demand for HIVE through the gratuity features it offers.
How can we have faith that you'll use the funds appropriately?
Our proposal shows that business ethics, investing and trust must be mutually shown and proven.
We have invested well over $30,000.00 USD cash to date, (not counting our work invested by the team at FullAlt as shown in Annex B) and we will invest more along with the DHF HBD funds.
We want to set the pace and lead by example.
Our proposal shows that the DHF is not 'free money'.
We have given a model for accountability, tracking, timekeeping, and auditing that can all be put on the chain.
How will HiveTips help the Hive ecosystem?
Adds a tangible use for the 300+ million HIVE that is on the open market.
Strengthens and adds features to appeal to a wider audience.
Makes HIVE more accessible to the general masses.
Makes HIVE more visible to the general masses.
Makes HIVE more useful to the general masses.
Taps into the multi-billion dollar marketplace of direct rewards/tips/donations.
A minimum 24-month marketing action plan to promote Hive on an unprecedented level.
Expansion to include new sites and platforms with the user numbers and the need for a tipping feature.
Helps build up the needed momentum to put HIVE and Hive ahead of its competitors in the cryptocurrency kingdom.
Why is HiveTips focused on the mainstream market instead of existing Hive account owners?
The value of currencies on the open market such as BTC, HIVE, etc are all dependent solely upon DEMAND. There are currently some 4.5 billion people on the internet who make up the mainstream. We want to tap in to that number with HiveTips.
What is the potential outreach if we make HIVE available to the mainstream?
Please see the chart below:
We have managed to tokenize three of the internet giants and we have full intentions of adding more.
How many people are responsible for running HiveTips?
Should the Hive user base be larger before this project gets released?
Outreach along with tangible use cases is what brings in more users. For a tree to grow, one must plant a seed and nurture that seed. For a garden to grow, one must plant multiple seeds and nurture its growth.
Why is HiveTips a browser extension?
The current practices for tipping have shown that the two most commonly used models are browser extensions and websites. The choice to go with a Chromium browser extension (Chrome, Brave, etc.) and Firefox, was to make your desktop browser into your user interface (UI). Trends are forcing the website option to become obsolete.
Does HiveTips plan on going mobile?
We have plans to create a mobile version of HiveTips, but such an option for Android and IOS takes a fair bit of coding and testing prior to release. These options are covered in the proposal figure.
What other platforms will HiveTips be on?
We want to include the community in helping decide which order of priority before stating a definitive outlet to tackle. We know that with input from the thousands of current active Hive users, we can choose the best paths to take.
Will HiveTips be limited to only tipping or will there be other options added to it?
In the future, we will be adding features to meet all the market needs and updating them as we get feedback from users of HiveTips.
What if I have proxied my vote to someone?
Even if you are proxied to someone else that has already approved the proposal, your stamp of approval states that you also believe in the product and vision. All of us are what make Hive a thriving community.
Why is the proposal listed as $2,000 daily?
The current DHF has 5,300 HBD available daily. (HBD = $1)
Of that 5,300 HBD, less than 1,300 is being used on a daily basis.
The HiveTips proposal is capped at $256,000.
HiveTips will be funded up to the $256,000.
Once it reaches $256,000, the proposal for HiveTips will be withdrawn.
What edits have been done to the proposal post to date?
We have adjusted the links to the proposal for voting to make approvals easier.
Small edits to the text - I.E. recommendations, more specific wordings, etc.
Added the video overview of the proposal to accommodate people who prefer video over text.
It will be once we ensure that Hive has a strong foothold in the gratuity arena. Our first and foremost priority is Hive. Once we attain a competitive edge on the market, we will contribute the repository to the Open Source Movement.
Where can I get HiveTips installed onto my browser(s)?
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: Chief Executive Officer (witness 3 years running)
: Chief Development Officer (witness 4 years running)
: Chief Marketing Officer (witness 3 years running)
: Chief Visual and Graphics Artist
: lead developer and coder for HiveTips