Your project needs miner tokens!
@aggroed recently released a new post describing an overview of how to start your own tribe using Steem-Engine:
https://steemit.com/steem-engine/@aggroed/a-beginners-guide-to-starting-your-own-tribe
But before anyone even considers making their own token economy, STOP! Think about your future tribe's long-term future and how to most effectively leverage the tools at your disposal.
Above all, think about implementing a miner token into your token distribution's inflation plans. This can only fortify the strength of your future platform!
Wait, why would I need miner tokens?
Projects that do not implement miner tokens neglect to use all of the tools available to them to enhance the experience of the community.
Here are 5 quick reasons to implement some form of mining into your token's inflation:
Additional project funding. So maybe you'll sell some tokens. Great. Ok, well why not double up on that funding to give your project another boost. Mining tokens are essentially selling a derivative product on your tokens because they are dependent on your tokens value. Sell the tokens? Great, but you might as well also sell the "hardware" that generates the tokens too. Project funding generates the value for your community's token. The less you have, the less options you have to generate interest for your project. You only gain more options and flexibility with project funding (ex. creating sinks, and etc. to give your token value)
Miner tokens attract dedicated stakeholders in your project. If your stakeholders are more vested in your platform as they would be with a long-term investment in mind (which miner tokens are), they will do all the more to make your platform succeed.
Miner tokens help to lock STEEM up. While aiding in the overall value of STEEM (which helps you), miner tokens also specifically lock up STEEM supply in your project (which additionally helps you). A token holder only has the ability to sell tokens, and will want a return on his investment thereby driving down the value of the blood circulating throughout your platform. A token holder who also owns mining tokens will have optionality for their exits, and will also be far less likely to exit the miner. Likewise, different settings on the tokens and the mining tokens unstaking can place you in greater control and with more options when it comes to designing a system that slows down investment exits.
Miner tokens can change short-term users into long-term investors. Along the lines of point number two, the way people approach your project will change. If YOU create a system that encourages long-term investors, you will help to encourage others to think of the long term. This is especially the case with hundreds of new communities that are sure to come and increasingly become competition in the zero-sum game for attention.
Miner tokens have no additional input costs for investors beyond their initial capital expense. Not only do they NOT become outdated by some next generation hardware, but one could sell these tokens again for almost the price they got them at. With no need for electricity input costs, this becomes mind-blowing in the world of crypto investing. To not offer this opportunity to your community is to deprive your project audience of a way to become more excited about your platform.
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Haha it's funny timing that you're posting this now, I just talked to Aggroed and team last night about adding mining tokens to my upcoming release. They're planning on automating the process soon, but I did it manually through discord.
Your points are many of the reasons why I decided to add miners onto my upcoming tribe release. It adds a layer of value to the users, investors and to the project itself. Raising some capital through miners is a fantastic way to get the ball rolling -- especially in creating a sink for the token by launching a token-specific bid-bot like minnowsupport for PAL. The hard part is figuring out how many to sell and at what price.
Exactly! I'm glad to hear you'll be adding a project that will be implementing miners. We definitely need more. If not for the tribe, definitely for steem as a whole.
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I have to say I am pretty addicted to miner tokens at the moment lol. I plan on hitting my steem goal of 50k powered up and then at that point everything else will go into steem-engine for miners and buying low cost coins when they seem over sold.
Can't wait to see all the new sites about to launch.