Planning My New Token
I've been doing a lot of thinking on and off about the tokenomics of the Hive-Engine token I plan to create. I don't want to rush things. I want to offer value and stability, so it needs to be balanced. I want it to be appealing to as many people as possible, which means the design is something you just don't rush.
(Created with ChatGPT)
This isn't a whitepaper. Not yet. That's coming. This is more just me voicing my thoughts and opinions out loud. It's also an opportunity for those reading this to provide feedback.
Token Supply
My plan is to limit the supply to around 100,000 tokens, of which 70,000 will go up for sale and 30,000 will only be paid out to delegators. This way those who'd rather buy into the project can do so, and those who'd rather use their HP to delegate can also share in the project.
Token Sales
The general idea will be to sell the tokens in tranches that double in price each time a tranche sells out. All HIVE will be powered up to curate the community I plan to build. Once all tokens are gone, then the HP will continue to increase and those who got in early and still kept their stake will watch their payouts continue to increase. It's nothing fancy, but it doesn't need to be since the goal is to reward those who helped me build up the HP of the @nectarbytes account to curate the community I'm going to build.
Comment Incentives
I'm considering taking 50% of all tribal tokens the account receives and selling those for HIVE. The fund from this will then be used to reward commenters in the community with weekly or monthly HSBI raffles. As with everything else, it would start small but continue to grow and eventually give out some nice rewards to those who actively participate.
I still have a bit of time before I officially roll out the token and publish the whitepaper, so let me know what you think of the idea.
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I never really understood why selling tokens in tranches is a good idea?
Some tokens have never sold out because of that, if the price increases with each tranch.
Not that you wrote that :D
I think this is a good idea, ofc you have to get some tokens staked before it will be meaningful :D
The general idea behind tranches is to increase HP faster as each tranche sells out. It also establishes a price floor of sorts until they sell out, because anybody who wants to sell will try to do it just under the tranche price.
For the tribal tokens, yes, you're right. I've already started delegating some of my own to @nectarbytes to start building its own stake.
I appreciate your feedback! 😁
!BBH
!PIZZA
!ALIVE
So its because you dont want to set the floor price? :D
You could also talk to some of the tribal creators for delegatings in and half of it will be burned until the delegation run out. If possible, not sure if anyone wants their token to be sold off xD
You are welcome :D
It's not really about setting a floor price. It's to try and aggressively build HP early on to curate the community. There's really not a good way to set a floor price and build HP quickly since maintaining a buy wall would take away funds that could be powered up.
Fair point :D
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I wish you the best of luck. Adding a token definitely adds to the complexity and visibility of a community. I think that is part of the reason The Pub struggles a bit, but managing a token isn't something we were looking for after the dumpster fire of BRO.
Thanks! I plan to have the token name be kept separate from the community and just focused on helping @nectarbytes powered up to help avoid any issues. I don't blame you for not wanting to create a token for The Pub.
Nice plan, I think it should workout well with the limited mintage. I hope it does awesome! Great idea!
!BBH
!PIZZA
!LOL
Thanks! I appreciate it! 😁
!BBH
!PIZZA
!ALIVE