The proceeds of this post will remain fully locked for 3 months within the photochain fund, as previously communicated.
@elizacheng @trincowski @apnigrich @gems.and.cookies @melinda010100 @anhnghn @isabelpena @zoricatech @elemarg25 @adinapoli @ireenchew @ainie.kashif @failingforwards @nineclaws @iamjadeline @nelinoeva @alechi @ninahaskin @qwerrie @kamrunnahar @wakeupkitty @ervin-lemark @olgavita @farm-mom @heartbeat1515 @frce24 @brittandjosie @maddie30 @zottone44 @kattycrochet
Here we are, with the first report of the Photochain Fund. As announced in an official post about 6 months ago on the owner account @davidesimoncini, at the beginning of January I decided to introduce the Photochain Fund, by definition "a set of addresses useful for collecting value, in the form of supported tokens or cryptocurrencies, and mainly intended to support the project and to further reward the participants in the Photochain Challenge". As announced in the official post that I invite you to read
the Photochain Fund is a project based on the collection of funds obtained through different methods, and on a partial division of the proceeds among all contest participants, following the rules communicated in the official post mentioned above.
We have reached the month of July and, as the initial regulation of the PF foresees, the second quarter of collection has ended, the one that went from April to the end of June. The collection is small, and you can see it from the screenshot of the Bitcoin and Litecoin wallet which also includes the tokens. However, we have collected a small sum thanks to the sharing of the value of the Photochain posts. What does it consist of?
Starting from the end of last January, the @davidesimoncini account started donating 20% of the proceeds of each post to the Photochain account. From March to this part, we have decided to reach the quota - which will remain unchanged for the moment - of 50%: translating into simple words, every reward earned by the author of the official weekly post of the Photochain edition will be sent half to the fund Photochain itself. The reward method is and will be set regularly as a liquid 50% in HIVE or HBD and a 50% that will be retained in the form of HIVE POWER by Photochain, attempting in the future to have enough power to start a curation program.
The amount raised for this quarter is 5,142 HBD, while the balance in HIVE has remained unchanged, except for some changes due to interest rates.
And now it's time for the calculations. As announced in the launch POST, for the moment 40% of the total will be retained, while 60% will be divided equally among the competitors.
60% of 5,142 is about 3,085. With 31 total beneficiaries, I decided to round up to reach the sum of
0.10 HBD each
which will be sent in the next few days.
Considering that all the beneficiaries are more or less active on the chain or in the contest, once again I will carry out the transactions without requiring prior confirmation. I will make one exception for the user @frce24 who seems to be no longer active on the chain. If you wish, you can request the sum now or later by commenting on this post.
All those who participated in the editions finished before 30 June 2021 will receive their share. Those who participated in the editions completed afterward will re-enter the distribution of the funds raised in the next quarter.
Distribution .... How do I get the prize?
For this second distribution, I have decided that I will automatically send the prize to everyone. However, since the rules say a different thing, I invite you to get into the habit of claiming your prize right now. To do this, you simply have to go to the comments of this post and leave one that says: "I want to receive the award." From the next distribution, this step may become mandatory, as written in the official post. If so, those who do not claim their share will have to wait for the future availability of funds to receive it.
Some Important Additions
I have two notes to make.
1. First, the division of funds. To overcome the problem of having to reward even participants who are no longer active in our unofficial community, each quarter only those who participated in Photochain in the editions ended in that quarter will be rewarded with liquid funds. Participants in previous editions will still retain a right on the portion locked inside the Photochain fund. As written in the official post, if the project ends, the funds will be unlocked through a power down. At the present time, we do not have an additional control system to establish how much goes to whom: if the project will end soon, the funds will be liquidated equally among all participants; if the project were to continue for a long time to come - and raise funds in greater quantities - then we will try to insert a more merit-based method.
2. The second addition concerns the introduction of a donation method through ERC20 tokens IN TEST PHASE. Since making small donations on the Ethereum network is practically impossible due to the very high transaction costs, I decided to create the same wallet using the second layer offered by the MATIC network and the BINANCE SMART CHAIN network. You can find the guide and instructions on how to use and connect to the network through Metamask AT THIS LINK.
BE VERY CAREFUL AND AVOID TAKING ACTION IF NOT PROPERLY INFORMED.
The addition of the second layer MATIC and BINANCE SMART CHAIN - and its use - is in the experimental phase, so I do not have the possibility to give any guarantee on its use. The possibility of losing the entire sum sent exists and must be taken into consideration. I also invite you to consider that, being the blockchain a relatively new technology, there is always the possibility of being able to lose the funds sent. Unfortunately, since I am not in any way involved in the transfer or validation process by the blockchain, I cannot take any responsibility for the loss of part or the entire sum.
Each fund raised is subject to the transaction fees necessary for moving from the home address of the funds to the exchange, the transaction fees for the swap on the exchange, the expenses necessary for the transfer of funds between the exchange and HIVE and, to date non-existent, the expenses of the HIVE blockchain. If the funds are too small and their movement results in the approximate loss of more than 50% of their initial amount, the funds will remain frozen until the following quarter.
the amount of the share of this second quarter will be distributed in the next few days. At the moment I don't have algorithms to automate the process, so the sending of funds will be done manually. Please be patient, the distribution will finish within the next 10 days.
I hope I have been clear enough. Many concepts are not simple, but I invite you to ask for explanations or to make clarifications if you have doubts about it.