This is probably just a crazy throwaway idea, but I wonder if having a Hive Power faucet could act like a kind of "gateway drug" to lure people into the Hive ecosystem ?
The idea started with a question I asked myself which was "what if non-Hive people were allowed to upvote posts ?" and kind of developed from there.
What is the point ?
The idea I have in mind is that if a non-Hive person saw a post (e.g. from a link in some other social media platform) they might want to upvote it. Especially if there was a small reward for doing so.
But setting up a Hive account (even one of the InLeo "light" accounts) is a bit of a faff. Could there be a way to make the process even easier ?
The concept is that upvotes would deliver very small amounts of HIVE or HBD (or even LEO), which could be recorded for that person and eventually redeemed. But redemption would need a Hive account to be created - probably a Light one.
The whole idea is that it is really an onboarding process broken down into incremental, easy-to-follow steps that can be done over time with no pressure.
I'm not a developer or coder, so the ideas I'm presenting here (if adopted) might need work to make them happen !
What would it look like for the user ?
For the user, they just want to do an upvote. So the process has to be hugely simple.
What would happen would be that the user would go to whichever front end(s) this was implemented on and do an upvote. Or maybe it could be functionality built into Hive Keychain, I don't know.
It's the act of upvoting when not logged in which triggers the process. They'd get a login option, or an option to get their earnings as a faucet - put into a wallet that's held for them to cash out later once a threshold is reached.
To create the faucet wallet, they'd just create a unique user name and password. That's all; no email address or anything personal (yes, I know we're missing a marketing opportunity, but I think we'll get more traction by demonstrating security, transparency and respect for privacy right from the get-go).
On subsequent visits, when they want to upvote, they'd need to log in with their user name and password, and then have a limited number of votes in a day - possibly with a requirement to stay on the post for a set amount of time before they are allowed to vote, just to encourage them to actually read it !
The login screen would give us an opportunity to present them with some static text extolling the virtues of Hive and some of the most attractive opportunities in it, and a brief outline of how to create an account (or links to it), as well as a dashboard showing their current stack.
The earnings might be in HIVE, HBD or LEO, and would be typical faucet small stuff but at a level which encourages them to create an account and cash out (or even better, join Hive properly) when they hit an achievable threshold. I'm hesitant to give out HP, because it feels wrong to have a threshold and then surprise users with another 13 weeks unstaking time.
There would probably also be a need to complete some kind of Captcha or similar when logging in that's good enough to defeat AI's, to prevent bots milking the system.
What would be going on behind the scenes ?
The key thing that would be going on behind the scenes would be that each user would effectively have an account created for them. The user name and password could probably in reality be a Keychain login.
Here's the clever bit. If we do the maths right, the holdings in these wallets wouldn't earn any APR interest (we give that as an incentive to create the account....).
But while held, the interest would still be earned, and passed to the project. Each wallet would always deliver some interest back - that's what the threshold is for, and of course there will always be a percentage of people who never do cash out ! HIVE in user's wallets would actually be held as HP to earn interest, and the project would need to hold liquid HIVE to pay out for any redemptions.
The earned interest would be used to make the project self-funding, covering the cost creating accounts for users when they reach the threshold, the administration and support of the project. I'd also love to see the DHF repaid for any HBD advanced to cover development costs.
So is this a crazy idea ?
I can think of all kinds of advantages for a scheme like this.
It gives non-Hivers the opportunity to upvote, it generates a little additional income for Hivers posting content, it brings Hive to a wider audience, and it creates a super-simplified onboarding process.
But I recognise it also has some issues. Someone would need to put in the effort to code it and create the essential pages the users see. Most importantly of all, we would need to market the heck out of it. We might even need to tap the DHF to borrow funds to cover the cost of put ads up in Brave, places like Publish0X, etc.
So what do you think ? Is this crazy, or something which might work ? What have I missed out ?
Posted Using InLeo Alpha
It is a crazy good idea 😁 Have often thought that if only it were possible to get all the people from my other social stuff to vote on Hive, life would be pretty good!