The vast majority of Hive Hub spending will be related to facilitating workshops and events at Hive Hubs. Each Hive Hub will make a proposal for each event it plans to run, and if at least 4 out of 7 Hive Hub Committee members approve, the money will be sent to the Hive Hub to help run the event.
The Hive Hub Committee can only spend by assigning a budget to Hive Hubs that are actively carrying out workshops at least once per month. The majority of the budget will go toward workshops run at the Hive Hubs.
The Committee can also assign a budget, on a case-by-case basis, to Hive Hub Coordinators who are setting up special events at the Hive Hubs, such as:
- Side events for local crypto events
- Collaborative sporting events where other cryptocurrency communities or relevant communities are invited to take part
- Investment or business conferences happening at the same time / nearby
- Hackathons
- Other digital freedom or cryptocurrency-related events
Example Scenario
A Hive Hub wants to run a workshop.
It needs funds for:
- Hive-branded merchandise
- Signage
- Local and digital marketing
- Educational materials
- A small giveaway for each attendee (for example, a free drink or snack)
The preferred method here is that each attendee receives a small amount of HBD that they can spend at the workshop. This allows them to experience how a user can earn, spend, and obtain cashback for using HBD.
A typical expenditure at a Hive Hub, where the event is expecting approximately 20 guests, will likely be around 200–300 HBD for the event. This will typically be split into:
- Merchandise and signage: ~30%
- Digital and physical marketing: ~30%
- HBD giveaways to attendees to test spending their HBD: ~40%
Why This Is Sustainable
By running regular initiatives or workshops at Hive Hubs, the new flow of users will naturally increase revenue to the business. That revenue is what can be used to repay the requested funds back to the Hive Hub Initiative, making it a cash-flow-neutral initiative. What goes out to Hive Hubs should come back to the Hive Hub Initiative at the end of the year.
Let’s say that the Hive Hub runs 10 such events per year. The total inflow to the Hub would be approximately 2,000 HBD per year.
Since the Hive Hub would experience:
- a revenue boost from this funding,
- workshops, and
- the additional organic spending that results from Hive-based activity at the Hub,
it should be expected to pay back the 2,000 HBD at the end of the year in order to maintain Hive Hub status for the following year.
There may be exceptions to this. However, it is the responsibility of the Hive Hub Committee to document their justifications for any such exceptions.
Payback Requirement
If the Hive Hub experiences increased revenue due to the Hive Hub Initiative and the workshops carried out at the location, then it should be expected to pay back some or all of the money that flowed into it — or forfeit its status as a Hive Hub in the next funding round.
Return funding should be paid back to the Hive Hub Initiative account on Hive, in HBD.
KPI Requirement
Hive Hubs MUST have clear KPIs in their proposals before they can receive funding, so that the results of the spending can be easily reported back to the community via monthly Hive Hub Coordination live shows.
This initiative is supported by:
Be sure to check out our other posts: https://ecency.com/@hivehubs/posts
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What about rent for locations if I may ask?
This is a great program. This is a basic indicator every organizer should achieve to determine the efficiency and effectiveness of each program submitted to Hive Hub.
I agree with every point mentioned in this review post.
The most important thing is that each application must verify the validity of their data as organizers (verified users).
Hopefully, this program will encourage more users to promote Hive and engage in creative development activities through workshops and seminars.
I'm interested in this support program...
Finally there's an initiative like this. It's great for those who need funding and has clear KPIs in plan. Looking for great events and result coming out of it.
Amazing we neeed more business intiatives on hive.
Love how organized and fair this system is. It really encourages accountability while still supporting local Hive activities. Excited to see more Hubs grow under this model! 🙌