Thank you all for the feedback on my last post. I am going to respond on this post.
Initial low inflation, then removed completely. Advertisers need to buy the coin to promote their content and the coins don't get burned. Instead, coins go in the reward pool, and the reward pool is distributed through stakeweighted voting.
Yes, good tokenomics. I'll probably separate the components and make them configurable.
Counting comments... counting words... Something that tries to manage engagement/attention... votes on comments. Proof of link sharing on other platforms? How does one gauge engagement.
Engagement is an interesting metric. Depending on the objectives of the token creator and how they want the tokenomics to work, the task of determining "engagement value" can be left entirely up to proof-of-brain or be partially determined by the aspects you mention; and then multiplied by PoB, to keep the human element in the equation.
Leaving out human input will expose the token to abuse.If it's word count, it encourages word padding; if comment count, it encourages spam commenting, etc.
Thoughts...
- It ideally rewards effort/work/quality in some way. How? Not sure. I would lean against word count, or posts or comments though, as that incentives jibberish. I've seen that with a Telegram crypto where you "mine" bases on posts (hitting the enter key).
- Regarding inflation, isn't that reflective of the market value...something not set but resultant of market forces? Or are we talking the emission rate which can effectively be the monetary policy, which in turn affects inflation. I personally favor a set, fixed finite quantity of tokens emitted at a set rate. If the quantity is infinite, ok as long as the emission rate is set and predictable (not subject to temporary whims and fancy).
Yes, I mean emission rate. Thumbs up on initial distribution plus a fixed emission rate. This will be one of the token types available on HAT for sure. In fact, the core HAT token I'm playing around with has properties like this.
Airdrop initial distribution. Fixed emission rate to reward people running nodes, which means as the token supply grows, actual inflation (new emissions as % of total supply) goes down.
Remove the ability to upvote your own content and farm the rewards pool. Whales have no incentive to upvote the content of other users because they make more money using their voting power to vote for themselves. There is a massive power imbalance here, the same users posting the same garbage onto the trending page every single day and it makes Hive look terribly spammy.
To complement this, make it so curation rewards are more of a reward than an afterthought. Actually reward people not just for upvoting any piece of content, but quality content. To me, quality content is the lack of grammatical/spelling errors, it's the length of the post, how many words there are, does it offer value to the platform?
Agreed. I am also of the opinion that self-voting is counter-intuitive if it's concurrently linked to the distribution of rewards.
An argument could be "self-promotion for visibility" but that is solved by Native Ads, where you use the tokens to buy visibility without influencing the distribution of rewards for everyone.
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Hive Attention Tokens (HAT) is a sidechain I'm working on.
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