Recent Updates and Progress
We've been working diligently on developing VIMM 2.0 and refining our proposal based on community feedback. Here are links to our recent updates, starting with our proposal revision:
VIMM Relaunch Proposal Update: Simplified Plans and Lower Budget - Important changes to our proposal, including simplified membership options and a reduced budget.
VIMM 2.0 Prototype: Exploring Potential Features - Our initial announcement of the VIMM 2.0 prototype and the features we're exploring.
VIMM Dev Log: Exciting Progress to v0.1.0 - Details on our implementation of a Single Page Application (SPA) architecture and other improvements.
VIMM Dev Log: Progress Update to v0.1.30 - Our latest update, including UI/UX improvements, chat functionality enhancements, and technical upgrades.
We encourage you to check out these updates to see the ongoing development and refinement of VIMM 2.0, as well as how we've adjusted our plans based on community input. Your feedback and support are crucial as we continue to build the future of streaming on Hive!
Remember, you can try out our latest prototype at https://vimm.tv and join our Discord for discussions and more frequent updates.
Thank you for your continued support!
Bringing VIMM Back
VIMM is one of the pioneering platforms on the Hive blockchain standing alongside other early adopters like Splinterlands and Actifit. We originally started in 2018 as a streaming platform that rewards people that actively build their channel and engage with their viewers. This proposal aims to relaunch VIMM with a sustainable and growth-oriented approach.
A Timeline of Struggles Leading to Our Fall
In August 2023 a catastrophic distributed denial of service (DDoS) attack known as HTTP/2 Rapid Reset hit the Internet affecting both large and small companies including ours. This resulted in a $50000 bill on our Amazon server leading to its shutdown. Despite confirming the attack was malicious and being promised a refund by September 11th we received no communication from Amazon through September and October. In October we were warned of account suspension for nonpayment despite having an open support ticket. We backed up our database and planned to move to a new host.
In November 2023 Amazon finally confirmed a refund of $54635.56 but increased the bill to $123500 with unexplained charges. Despite providing evidence from Google and Cloudflare we received no response. We then proposed a plan to cover initial server costs estimating $350 per month for operations and $500 total monthly expenses. After our February 2024 relaunch user numbers dwindled to 65 down from pre-attack levels exacerbating our financial strains. We sought community support through Premium Membership subscriptions Hive Power delegations and increased beneficiary contributions.
By May 2024 we fell more than $200 short of our monthly hosting payment. Despite covering the deficit ourselves we needed ongoing community support. Despite efforts to boost Premium Memberships and witness votes the financial strain was too great. On June 3 2024 we announced the cessation of operations on June 8th due to insurmountable financial challenges imposed by the attack and its aftermath.
Doing it right
While Vimm has always been perceived as a "fun streaming project" the reality has been quite different. For the past six years we have been tirelessly finding creative ways to keep the platform running leaving no time or resources for growth. Vimm has always been a labor of love worked on during our own time as everyone involved balanced it with their full-time jobs. This meant that any time we dedicated to the platform was time taken away from our families hobbies and other personal interests.
Here's a list of everyone who has contributed to VIMM over the six years it has been online along with the reimbursement they have received:
| Name | Amount |
|---|---|
| @chiren | $0.00 |
| @ddrfr33k | $0.00 |
| @devmarvel | $0.00 |
| @foreveraverage | $0.00 |
We only want to relaunch Vimm if we can commit to doing it right by taking it seriously and actively aiming for growth in users and revenue streams. It is not practical to set up a Decentralized Hive Fund (DHF) proposal that only covers one developer and operational costs which would require renewing the same proposal every three years to avoid shutting down. This approach would be more costly in the long term. A proposal is only worthwhile if it aligns with our long-term vision. Neither Vimm nor Hive will benefit if we lack the ambition for growth and improving our revenue streams.
VIMM 2.0
Properly Reward Consistent and Quality Streamers
To ensure the growth and success of Vimm it is crucial to properly reward consistent and quality streamers.
By providing meaningful incentives and rewards for high-quality streaming content we aim to create a similar impact on Hive. This approach will not only motivate streamers to produce better content but also attract a larger audience to our platform. Consistent and fair rewards will help us build a thriving and engaged community ultimately contributing to the growth and sustainability of Vimm.
Revamp the Website
Vimm has often lacked the “liveliness” found on other streaming platforms. When scrolling through those platforms users are presented with many options that make the experience more engaging and dynamic. It’s clear that Vimm needs to step up its game to appeal to a broader audience.
To address this we plan to revamp the website to make it more vibrant and interactive. This includes enhancing the user interface providing more content discovery features and integrating engaging elements that keep users entertained and involved. First impressions are everlasting and the one or two live streams displayed on our homepage didn’t convey an active community. This is something we were always forced to push further down the priority list but now we will finally make it a top priority.
Gamify Streaming
We’d like to gamify streaming to make it more rewarding and engaging. By introducing claimable options for consistent streaming we aim to create an experience that incentivizes regular participation.
To enhance this we plan to establish partnerships where partners can provide additional rewards to our users. These partnerships will not only offer more value to our streamers but also generate revenue for Vimm. Additionally we will introduce a premium membership option offering extra perks that could prove profitable for users if all rewards are claimed within a “season.”
This approach will create a more dynamic and interactive streaming environment encouraging user engagement and loyalty while driving growth and sustainability for Vimm. It will also provide us with new revenue options through partnerships and make our premium subscription more valuable.
Appealing To Other Streaming Platform’s Users
To broaden our reach and introduce more users to Hive we want to appeal to users of other streaming platforms. An excellent example of this approach is @foreveraverage's initiative with @dagamers a platform that posts Twitch streams on Hive. This initiative which @chiren joined enables streamers to interact with the blockchain even without using Vimm.
We aim to implement a similar feature in Vimm allowing streamers from other platforms to post their content on Hive. Additionally we will seamlessly integrate Twitch streams into Vimm's discovery features and directory. This means viewers will be able to browse streams in one unified directory regardless of the platform used by the streamers. This integration will help us attract a larger audience and introduce them to both Hive and our streaming service. By providing a seamless way for streamers to connect with the blockchain we can foster a more inclusive and expansive community.
WEB3 Sponsorships
Despite having the perfect target audience for WEB3 games we’ve never been able to properly partner with them. Our streaming platform screams blockchain but due to limited manpower we weren’t able to properly begin partnerships.
We’d like to finally explore partnerships with WEB3 game developers and platforms. These collaborations would not only provide valuable content and rewards to our users but also open up new revenue streams for VIMM. Additionally WEB3 games would be introduced to Hive motivating them to explore the communities and other options available on the blockchain.
Budget and Funding Allocation
Daily Funding Requirement: 325HBD/day
Budget and Funding Breakdown:
- Server Costs: $800/month
- External Services: $500/month
- 2 Full-Time Developers: $5600/month
- Part-Time Developer (UX/UI): $1400/month
- Part-Time Community, Marketing and Social media manager: $1400/month
- Marketing and Hive onboarding: $500/month
Except for the 2 Full-Time Developers, all other costs will start kicking in from the second month: see edit.
Additional Considerations
We recognize the importance of maintaining financial stability and ensuring that all operational needs are met. Therefore we have allocated resources to cover potential operational costs that may arise during the project. Our strategy includes prudent financial management and a reserve fund to handle any necessary expenses.
- Part-Time Developer: This role will focus on UX/UI design and graphics, ensuring that our platform is both visually appealing and user-friendly.
- Community Manager: This individual will manage and moderate our Hive community and Discord server, organize community events, and highlight excellent content creators to foster a vibrant and engaged user base.
- Marketing and Hive Onboarding: The budget for this will be used to facilitate account creation and educate users. Our goal is to create long-term active users for Hive by providing them with the necessary tools and knowledge.
Furthermore, we will establish a dedicated account to support VIMM's long-term sustainability. This account (@vimm.dhf) will accumulate and retain funds exclusively for VIMM's use. In the event of VIMM's discontinuation, any remaining funds in this account will be returned to the DHF.
Path to Self-Sufficiency
Premium Memberships
We have 2 membership models (monthly):
- 1.99 HBD: No ads
- 9.99 HBD: No ads, infinite replay storage, custom emotes, custom sub tiers for your subscribers
Advertising and Sponsorships
Incorporating advertising and sponsorship deals will be a significant revenue source. VIMM will partner with brands and WEB3 game developers to offer targeted advertising opportunities. Sponsored streams, banners, and video ads can generate substantial income while promoting relevant products and services to the audience.
Season Pass
Season passes will reward streamers for their efforts by unlocking additional rewards at each completed level. This system will motivate our streamers to increase their streaming activity while enabling us to form stronger partnerships by incorporating partner rewards into the track. We might even create entire seasons themed around specific partnerships.
Revenue Sharing with Streamers
The revenue-sharing model used by the majority of apps on HIVE will be a source of income for us. In addition to traditional beneficiary rewards we have various options such as donation, subscription, and gift tools providing multiple streams of revenue-sharing income. This not only incentivizes our streamers to produce high-quality content but also motivates us to continuously innovate the platform making these features as attractive as possible.
Open Source Commitment
To ensure the longevity and impact of our work, we plan to open-source parts of our codebase. This initiative will allow anyone with sufficient technical knowledge to recreate a similar application for the blockchain in the event that VIMM ceases to exist.
Edit 31/08/2024
Based on community feedback and our internal discussions, we've made some adjustments to the proposal:
Simplified Membership Models: We've reworked the membership models to make them simpler and have removed the idea of tying voting weight to them, as suggested by @nonameslefttouse. The new models are:
- 1.99 HBD/month: No ads
- 9.99 HBD/month: No ads, infinite replay storage, custom emotes, custom sub tiers for your subscribers
Consolidated Positions: We combined the Community Manager and Part-Time Marketing and Social Media Manager roles into one position, reducing the cost from 2000 HBD/month to 1400 HBD/month, as suggested by @guiltyparties. This change helped lower the HBD/day from 360 to 340.
Further lowered the HBD/day to 325/day: Initially our budget was set up as if we needed every position and service right from the start. This was based on existing proposals we used as benchmarks. However, in reality, we won't need all these positions filled or services paid for on day one. For example, marketing isn't necessary when we're getting things up and running.
Except for the 2 Full-Time Developers, all other costs would start kicking in a month later. We know this is still an estimate, and some costs might come a bit earlier or later, but this feels like a more honest reflection of what we'll actually need and when we'll need it.