The Hack Shows The Importance Of A Site Having Non-Crypto Revenue

in LeoFinance2 months ago

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I've been in crypto for years and it is clear how strongly I think it will be the future and is a great tool for dapps to not only reward users for their time and work but also let people feel like they own a part of the application. However that doesn't mean we should shun the financial tools of the best, ones which have already proven to work. Things like ad revenue and subscription fees have shown that they work to help a site thrive and when they are used in a way that helps the community and does not take advantage of them than it can create a program where everyone benefits.

The hack on wleo the other day is a good example of why we cannot rely solely on just crypto for a site. Leo is still secure but we have taken a hit that will slow us down weeks. If all your eggs are in one basket then you will have trouble in days when the market goes down or bad shit happens. But imagine if we had a lot of ad revenue coming in daily. The money would easily offset the loss.

The Advantage Of Daily Revenue

With money coming in from ads and other non-crypto sources think of what we could do to offset the hack. We could have an insurance fund in case shit happens which would encourage new investors to trust wleo more as they know their funds are safe. This money can also be used to pay content creators directly giving them two sources of income for one job. And on days when Leo is down people will still work hard as they know they are getting paid for the views they are getting.

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People Don't Mind Fees If They Are Spend well

I don't think people mind paying small fees or watching the ocasional ad if they know where that money is going to. With a site like Leo people know that the ad revenue is directly benefiting them and thus would be more likely to accept that those fees are not a big deal. People are not stupid and they know a site need to make money to sustain. It is not unreasonable to have a business make money as long as it is not taking advantage of it's users.

Why only use one tool when there are so many in the box? We need to not only keep up the ad revenue but figure out other ways to bring money in so people who work hard on this site can get paid well for their work. The hack slowed us down but the site is still very strong and with more revenue coming in we can really cover our bases and hit our stride for that next bull run.

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absolutely, it's just one use case and shows how we can't be reliant on a single point for the improvement of the coin. We still have the HIVE leo environment to fall back on but that doesn't mean we shouldn't continue to expand

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true but having had an insurance might have been even better.

something like nexus mutual might have covered the loss as well

I need to look up nexus mutual, insurance is getting important in this field.

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I'm generally thinking that diverse methods of generating income will be great if you ask me this will make it even more lucrative to be part of Leofinance and more people will find a reason to buy in and stay here. But then Khal is a revolutionist I'm sure he's working on it

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I think they have it in mind and hope to see more features in the future.

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Definitely true, hopefully more features will be added

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That's a good perspective and it makes me think of add revenues on Brave and how rewards work on publish0x. I doubt many would accept watching adds for a fund... I would do that but most of us probably won't. Having all sort of insurance policies like you mentioned can indeed increase the trust in LEO for investors.

Brave has been doing well over the months.

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