Token

in Ecency2 months ago (edited)

Most Ecency users know about history of our Points and how after rebranding we gave it placeholder name as Points. Since 2nd layer tokenization is still being worked on by multiple teams on Hive, we had extra time to work on our website, apps and add more functionality. Work on improving use cases, which in this post we want to give you an update about state of Points ("your entry to Token").

ecen_token.png

Supply

Total fixed supply: 1,000,000,000

Mining/minting allocation: 65%
Incentive, referral, bounty programs: 15%
In-app purchases: 10%
Reserve: 5%
Team allocation: 5%

Current state

Circulating supply: 360,056,955.134

Top 10 holders:
@roundbeargames
@lebin
@noel83
@melinda010100
@tempravis
@btscn
@circa
@mcoinz79
@janton
@gamer00

Economics

We have decided fixed supply to make sure system is self-sustaining, so with time demand and supply equation would find equilibrium. Points are minted just by using Ecency apps or by delegating to HP to @ecency, so everyone who uses either Ecency website, desktop or mobile app, already knows how earning works and how fun it is.

Once max supply is reached, pool allocation is recycled. How this works?! Currently every time user uses Points to promote or boost their content, points are sent to reward pool reserve and after max supply is reached those points are sent back to reward pool which is minted by users again, token cycles in system. Some similar token-economics usually add small fee to burn and lower the supply, which might be interesting to analize in future. Now, we wanted to decentralize this new rewarding system but on-chain SMT or other solutions were not ready or mature enough that gives us smart contract functionality. But since current Points system is great for distribution of our actual token, we are not rushing this decision and do what's best for growth, plan long term.

Use cases

Points can be used for Promoting content which will promote content across the feeds to all Ecency users. Boosting content is getting limited boost to content in form of curation/vote. Gifting is to basically tip or transfer Points to another user. Now we are working on next use cases which we thinking might help us gradually decentralize and establish our token that's both sustainable and widely used.
One of such use case that we think will excite everyone is Community points and have your own community standout, as more people post in your community from Ecency the more your community account earn Points, that way you can use extra rewards to organize giveaway, contest and manage, grow your community.
More on other use cases later, there is one more which we think will take this into next level. Stay tuned.

Earn now

  • Earn Ecency Points now by using Ecency apps.
  • Refer friends to earn even more, referral link example: https://ecency.com/signup?referral=ecency
  • By delegating HP to @ecency account. Delegation rewards daily Points, for example 1000 HP delegation mints out ~100 Points daily. Delegation also helps us to onboard more users to Hive which we have been doing for few months now, successfully.

Learn more in our FAQ: https://ecency.com/faq

https://ecency.com

iOS https://ios.ecency.com
Android https://android.ecency.com
Desktop https://desktop.ecency.com

Do you like our work? Support Ecency proposal:

Ecency: https://ecency.com/proposals/141
Hivesigner: Vote for Proposal

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Wow! Community POINTS sounds really exciting! ♥️

It is, wait for more details, it will come out really soon! 😊

Thanks for the larger delegation reward! That's really awesome to see!

The techie guys and gals behind the scenes at @ecency are spoiling us with all of the upcoming bells and whistles -- but we don't mind! 💯

@ecency I'm gonna be teaching how to use ecency to the Bulgarian community from scratch very soon as I've tried to do in:

This post

to show them and to use different futures of @ecency @dapplr @peakd by me sharing the rewards from the post with some of them.

But still for many of them is very complicated to operate on the network.

img_3051.png

Thank you, you are doing great job working with Bulgarian community. 👏
Would suggest to create series of posts dedicated into 1 Dapp and then move on to another dapp. Adding all dapps into single post is overwhelming for new comers, platform is already complex as it is. Our job is to make things easier but show-case all options user has. Keep up the great work! 🙇

Thank you for the suggestion I’ve done this already as well.
How to join the Hive and use different apps in:

This post

3. Shows them how to use all the apps

And create posts from there by video instructions.
Start from:
@peakd
@ecency
@dapplr


Screenshot

img_3059.png


And directions to gift-givers 3.1
Because most of the newcomers can’t create the #introductionpost correctly and I don’t have a chance of knowing someone is joining so they will have to have some RC to operate in the system I’m gonna start from scratch today actually with all of them.

Ah right, we will add soon referral page and notification so you know if someone is joining with your referral on Ecency, it should help you to onboard and guide them into your community.

@ecency sounds good..

Also think about working on the sliding side of Voting transaction.
I’m trying to make 25% very hard...

img_3050.png

I’m struggling every time to hit an exact % I want.
Way easier with @dapplr model.

img_3049.png

ok, we will consider improving that.

@ecency
Another thing the community page link is not clickable...

img_3061.png

Also let’s make a direct contact somehow so I can report everything I know, as of working problems around the app.
And so on..
That would be great 👍
Namaste 🙏

ok, we will see if we can linkify those details. For direct contact, feel free to use discord or telegram to reach out @good-karma.

Wow this is really a great new 😀🙏🍻.

Well there be a internal system where we can buy and sell tokens? E.g to other users where ecency maybe take a fee or will the token be on HE?

Right now you can buy with pegged price from in-app purchases reserve with HIVE, HBD and Fiat currencies (from mobile app). For Selling as mentioned we are working to decentralize the system, smart contract is required with current solutions we cannot do that. Two options, 1. wait for 2nd layer smart contract which couple teams including blocktrades team mentioned will be working on. 2. add erc20 token wrap which is in our roadmap.

So the in-app purchase will stay with the new tokens coming? :D

Cool, gotta learn about ERC20 then xD

In-app purchase will be as it is for Points and Points are gateway/entry into Token. Due to regulatory reasons, direct purchase of crypto tokens are not allowed from PlayStore and AppStore. But it will be possible to quickly convert/buy token from wallet page with HIVE and HBD until reserve for that pool is available, after that, no more purchases, tokens will be circulating inside and only purchase from market will be possible.

this is exciting and I look forward to having more details about it.

I support Community points. That's a good idea to form some basic fund for community functioning. 👍

Right and many communities organizing contest and encourage their members more... More details will follow soon, exciting times for growth of communities.

!discovery nest




This post was shared and voted inside the discord by the curators team of Discovery-it in collaboration with Nestedneons community.
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great news! we are also waiting for the new token name

Is there a way to personally refer a friend to ecency? Not a generic new user link?

yes, this is your referral link https://ecency.com/signup?referral=zo3d. We are working on adding notification when someone joins with your referral link so you could welcome them.

This is amazing! I just st did a walkthrough on the mobile app a couple of days ago but I didn’t know this was going on. This is puts ecency o er the top for me. I already really enjoyed using this app

Help @ecency I have used ecency point's to advertise and I tried advertising twice, each time the transaction went through, but I don't know if you received the right information to promote my link, I am confused with how im supposed to enter the username/permlink

My username is @natepowers than how do I add the link https://hive.blog/hive/@natepowers/hive-campaign-sam-tripoli-cash-daddies,
please help

Hi, you should add link as username/permlink format and it will be picked up by our system automatically.

I'm a bit confused, will current point hodlers receive an airdrop of the new ecency token or have will they a special discount on the new tokens?

Goal is to create bridge where you can easily convert from website and mobile app. We won't remove Points, but add ability to convert points to token and it is bit like an airdrop as well.

ok so hodl points then gotcha :D