|Let’s get right into it. There are new writing tokens here on Hive!
What’s the point of these tokens?
To create an incentive system that’s custom tailored to creative writers and their curators. The current HIVE payouts are okay, but Scholar & Scribe aims to improve upon it.
What can I do with these tokens?
If you have either token staked, they act like Hive Power. Your votes on Scholar & Scribe content will pay out more SCHOLAR or SCRIBE based on how many you have staked.
How do these tokens pay out on posts?
✒️ SCRIBE favours authors (writers), and rewards them 80/20 (compared to HIVE’s standard 50/50). So if people who hold SCRIBE vote on your post to the tune of 10 SCRIBE, the author will get 8 SCRIBE and the voters split 2.
SCRIBE also pays out every two weeks (vs HIVE’s one week). If a post is 10 days old and the HIVE has already paid out, you can still vote on it to reward the author with SCRIBE tokens!
📜 SCHOLAR favours curators (readers), and rewards are 30/70. So if people who hold SCHOLAR vote on your post to the tune of 100 SCHOLAR, the author will get 30 SCHOLAR and the voters split 70.
SCHOLAR follows the HIVE standard and pays out every week.
How do I get these new tokens?
1) Earn them 💰
Around thirty early adopters were airdropped 10 SCHOLAR and 1 SCRIBE each. If you earn votes from them for content posted in the Scholar & Scribe community (⚠️ be sure to use the #scholarandscribe tag too! ⚠️), you’ll start to see both tokens appear in your Hive Engine wallet when your posts pay out. Remember that SCRIBE takes longer to pay out!
2) Mine SCHOLAR ⛏️
All holders of SCRIBE are entered into a mining lottery to earn SCHOLAR. Get your hands on SCRIBE, stake it, and you’ll build up SCHOLAR!
3) Buy them on Hive Engine 💱
At the time of writing this post, the tokens are so new that they’ve not yet settled on a price. Make a bid, keep an eye out, and help us with price discovery!
Will these tokens be worth anything in the future?
A token’s price depends on a lot of things, and the spirit behind Scholar & Scribe isn’t one making gobs of cash. Rather, it’s to tweak the existing HIVE model of token sharing for creative writing content. The end goal is to provide web3 writers (and readers) with the means to make a living, so S&S is also not entirely dismissive of creating value!
The best way to create this value—I believe—is to fuel the experiment with a passionate community that creates great work.