Yes, it's me talking about POSH again. I feel like people underestimate it and the effects it can have for Hive and at times I feel a bit annoyed not more people support it considering it helps everyone's stake, by either sending it some delegations (to which they'd earn POSH in return) or beneficiaries every now and then if they feel they're making too much rewards, or in general rewarding the comments when others share your posts on Twitter. That's why I'm going to be a bit pushy about it until I feel it's getting some more attention that it could use.
Before I begin, it's not perfect and there's still a lot of room for growth and improvements, but here are some cool things about it you may not know about the project or that you may want to start activating yourself in.
Poshtoken had no premine
For a year or so before the token was created on hive-engine it was counting shares and leaving comments, every sharer was earning posh points which added up over time depending on how their tweets were performing. When the token was created, everyone got airdropped the points they had earned thus far and from then on the POSH tokens are shared 7 days after the tweets are created but it only counts the first day towards your earnings based on likes and retweets. The buffer is to give us time to remove users from receiving tokens if they've found to attempt to abuse it in various ways.
Fun fact; the bot that distributed the airdrop glitched out a bit and gave a few users twice the amount they should have received, missed out on a few and 1 of them received 3x airdrop, but luckily that one was a very small amount of posh. What we decided to do was to instead airdrop 2x to everyone, give the early birds a double bonus in the airdrop to make up for the mistake and reward them for having shared posts on Twitter before a tradable token existed. I did the second airdrop manually to make sure no error's occurred, that took me a while.
Ever since then, the account has been distributing 500 tokens per day to sharers.
Eventually we lowered the issuance going to sharers to attempt to grow the account so it would gain some value and stand on its own legs. Another reason was also that if someone wanted to speculate on the token it was near impossible to buy in a decent amount, you had to place buy orders, check daily if someone was outbidding you, etc, etc. You can now delegate to @poshtoken and earn 100 out of the daily 500 token issuance based on your delegation compared to everyone else. This gives you the opportunity to earn it more consistently in an investor kind of way while you know that the hive rewards it receives in return go towards growing the account so it can pay for development or token buyback. This brings me to my next chapter:
Poshtoken is community funded
All the rewards it has earned so far have been from post rewards of the daily posts, delegations from investors wanting some POSH tokens or random people sending it some beneficiary rewards to help the project grow.
We know rewarding automated statistics with post rewards is frowned upon in general but we felt it was alright to make an exception for this project given no one directly benefits from it aside from sharers and Hive in and of itself. When the project is ready and wants to grow more where more developers are needed we very well plan on making a proposal for it to fund it as voting up daily posts will become a bit unrealistic at that point, until then we want to prove its effects.
So far the only amount of Hive spent have gone towards developers, server costs and other various services such as website hosting, hivesql, etc, and our buyback program. Instead of adding the "braindead" staking formula on hive-engine where holders get inflation we figured a better way was to buy back tokens and in future additions throw out rewards to holders with certain conditions rather than just staking rewards, more about that very soon!
The way the reward distribution works is kind of cool
Talking with @rishi556 about the way it works some times can get quite complex and it amazes me not only how well it works but how complicated it has become on the backend. For regular users it is and should stay as simple as possible, of course, similar to Hive, but it's just funny when you go deep looking into it some times.
The other day we were for instance talking about how the comment rewards should get distributed between the sharers:
When someone shares your post, @poshtoken will leave a comment under the post with an embedded link to your tweet. If someone else shares the same post it will edit out the comment to include both embedded tweets. These show the amount of likes in real time so the author can for instance see the effects it may have had on twitter and possible viewers it could've gotten the author.
If the author now decides to reward the sharers with a Hive vote, the account will after 7 days take the rewards, send them through beneficiaries to @reward.app to liquidate them into Hive (100% power up to avoid complications with HBD being included), then after reward.app returns them it checks whoever got more likes/retweets and distributes the hive to those people IF they are registered on hiveposh.com. But, if the upvoter is the same person as the sharer, the rewards instead go to @hive.fund, similar to the rewards if the sharer is not registered on our website to link their twitter and hive accounts so we'd know who to send the rewards to.
For example:
User A shares post of author X, User B also shares post of author X.
Author X votes up the comment with 1 hive rewards.
User A received 30 likes on the tweet while user B received 20.
User A will earn 0.6 Hive while user B earns 0.4 Hive.
@rishi556 wanted to add even more complex features to it but I figured keeping it simple at this point and distribute it similar to the POSH tokens would be enough. xD
@poshtoken has added some new stats recently
They can be found in the post about posh rewards going out daily to each and every tweet, I'm happy to see how many have registered so far!
Make sure to tell your fellow hivers to register if they are successfully sharing tweets but not receiving posh or hive rewards because they haven't bothered linking their accounts for a minute.
For you speculators out there, this just means a lot more POSH is being burned from distribution rather than going to people. :p
Other various things you may want to get involved in
At @ocd we have a few initiatives where we curate great posts that have been shared but there's another addition we've added lately which seems only few users are taking advantage of which is nominating posts for curation "through @poshtoken comments".
What this means is that you share someone's post on Twitter first, then when @poshtoken drops the comment with the twitter embed you link that comment to the POSH Curation compilation posts. Our curators will then not only check the post for possibly curating it, but also on the comment and how well it was shared. Here's it's important to keep in mind that you want as big of a reach on Twitter as possible, of course, so tag the post properly and well, not just #hive and go. Depending on how well the tweets do, we give the poshtoken comment a vote so you get liquid Hive rewards after a week sent directly to you from @poshtoken:
This is what it looks like when poshtoken distributes the hive rewards based on how the tweets performed and unfortunately sends the rewards to hive.fund if the other sharer has not linked their accounts on hiveposh.com:
This is something we invite anyone to participate in, just keep in mind you are not allowed to nominate your own posts for curation in the @ocd compilation posts. If you nominate others I'm sure they're bound to nominate you at some point + you can still earn Hive and POSH for your tweet either way.
Ending words
Alright, to keep this post a bit on the short side for now, even though I'm sure I've missed some things, I wanted to write a little about the near future of POSH.
We're working on creating a framework for profile pic nft generation on Hive and at the same time launch our POSH PET NFT with it. Meanwhile the @hivecreators team are doing some amazing work on redesigning hiveposh.com so that's also something to look forward to and hopefully have the NFT page included on there soon.
We're excited to get those things finetuned and launched because shortly after that we want to add a ton of utility, sinks and all kinds of cool things to POSH and the NFT. I won't say too much now but if everything goes as planned it's going to be quite a lot of fun. :)
Thanks for reading, see you in the next post!
I'm very excited about Poshtoken. Because it will increase Hive's recognition on Twitter and therefore on Web 2.0. We all have a role to play in this.
As you said, it would be better to keep it simple because many people, including me, may find it hard to understand 😂.
I'm curious about a lot of things that are going to happen in the future and I'm ready to be involved. Just tell me what I can do for poshtoken 💪.
Just using it is fine and soon hopefully visiting the redesigned website more often to support other Hivers on #web2 :)
Cool. I'm going to keep using it, and I think I need to start promoting other people's posts on Twitter as you mentioned. That would be good for them and good for me.
That's a great idea :)
Twitter is an annoying platform.
definitely ! but it’s nice to propagate the Hive spirit by sharing well built article and to rally and bring the cream of this falling platform ^^ there’s some interesting people, like everywhere I guess :)
True but unfortunately that's where the people are, we'll be adding more web2s in the future so you can posh on your favs like pinterest or tumblr
I'll stick to Hive :)
Don't worry @deathwing, you build on Hive. We got this xD Not everyone has to POSH!
cool
I think that users underestimate POSH because they see it as a simple token reward. Of course, this is also the case, but when the NFT POSH and the staking mechanism are launched, then there will be a rush to buy.
Then, reading the final part of your post, it seems that there are also other news in the works 😁
Hope so!
If im getting this right, if more than 1 user poshed a particular post and the poshbot-generated comment is voted by hivers, the reward is shared based on the performance of tweets?
If this is so, then it is really an awesome feature.
Exactly, and if one of them is one of the voters their rewards will go to the DHF to avoid selfvoting comments (earning posh should be enough in that case, rather reward others sharing your posts)
Has it always been like this or this is a new feature?
Was implemented recently, defeats going around downvoting selfvoters :p
That's a very thoughtful, brilliant and cool feature.
Edit: what if I posh a post that has been poshed before and whose poshtbot generated comment has already been voted by hive users? Do I still get to share in the rewards if my tweet performs well?
I believe so yes, will have to check exact details with @rishi556, best guess is it will determine how much you get based on the tweet's performance within 24h to still get a share of the comment rewards before they pay out.
All right. Please do let me know when you get the details. Thank you.
Yes I even POSH, bro! 😄
I remember when we got the points turned into hive-engine tokens and then we got them a second time, double the fun!
Just checked and I'm 94 on the rich list.
https://he.dtools.dev/richlist/POSH
I need to UP my POSHness. I do have a Buy order on hive-engine in the top price position so maybe I'll move up a dozen spots if I'm lucky. 🍀
While I wait, let's share some
!PIZZA
I've bought way too much tokens XD my airdrop was only 1600 I believe
What an interesting summary regarding the utility and use of the posh token, let's hope it gets enough buzz to get many of those who are passing up these rewards to sign up.
I for one was unaware that I could delegate the posh so I'm already riding on that.
It sounds really interesting. However, I don't use Twitter 😅
Why not start? I wasn't using it before Hive neither, mostly started because I wanted to drive some traffic towards hive and been growing steadily since. It's easy to get going by just looking at some Hive lists for users you follow here and follow them there and many may follow you back.
Hmmm... Surely it would mean more traffic. But does the posh comment send to the retweet directly? Well, I'll figure it out and see what happens then.
I just shared this post on twitter for instance, soon you'll see poshtoken comment with an embedded link to the tweet:
Now if someone else had shared it I could've thanked them by voting the comment up and they'd receive the rewards along with earning POSH depending on how well the tweet did.
I see. Thanks for the info on this.
It doesn't do anything on Twitter, it just places a comment under the hive post you shared there. You just need to include the hive post link and the #hive tag in the tweet and be registered to receive rewards.
It feels really good sharing other people's post on Twitter especially when it involves amazing content that attracts other people attention.
I've tried it in the past, but I can't quite understand how it works. I tried several times and a few times it worked, especially in the first period of the token's life, then something changed and I was no longer able to manage it well. Surely the problem is mine that I do not understand English well and there will be something that is escaping me
Hmm, just give it a try now, share this post with at least the #hive tag and the bot should add your tweet with the others.
There's been some glitch we haven't been able to nail down yet where it ignores certain users for some unknown reason but it only affects a small % right now and we're working on figuring out how to solve it.
Thanks for the reply, in the tweet I put the #hive tag before the post link. Let's see what happens
Very good!!! I did exactly as per your advice and it worked. Thanks so much Mr. @acidyo
Yeah!! It has been working for second time! (follows a screenshot of the second post executed as per your suggestion) After this your suggestion, everything started working perfectly again. Thanks again
I didn't really see it until @taskmaster encouraged me to. @acidyo, thank you for this and for letting us know how powerful POSH is.
So many cool things! I'll be honest and say that there were some things I didn't know about but I'm happy I learned something new today! Also, I'm looking forward to the new face of hive!
I use #proofofshare every day but no one sees it since it is not a twitter link, I am posting to Gab. I still use it though since I am trying to direct people to our platform from another. My throughput is low but I'm trying passively.
I hope we will soon get to a point where poshtoken is fine-tuned and we can start looking to include more platforms that make it possible through API's, etc, such as facebook and possibly other smaller ones. As many as possible would be great to be included.
what's Gab?
Gab.com
Would you care to explain @acidyo? xD
#tagpolice
Tags are kind of useless now with communities so I joke around with them some times.
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~~~ embed:1548556561823387650 twitter metadata:Q2xvdWRzeXN0ZW04M3x8aHR0cHM6Ly90d2l0dGVyLmNvbS9DbG91ZHN5c3RlbTgzL3N0YXR1cy8xNTQ4NTU2NTYxODIzMzg3NjUwfA== ~~~
~~~ embed:1548569461875408897 twitter metadata:U3RlZW1hZGlffHxodHRwczovL3R3aXR0ZXIuY29tL1N0ZWVtYWRpXy9zdGF0dXMvMTU0ODU2OTQ2MTg3NTQwODg5N3w= ~~~
~~~ embed:1548667306250833920 twitter metadata:aGl2ZV9kYXRhfHxodHRwczovL3R3aXR0ZXIuY29tL2hpdmVfZGF0YS9zdGF0dXMvMTU0ODY2NzMwNjI1MDgzMzkyMHw= ~~~
The rewards earned on this comment will go directly to the people( @acidyo, @zullyscott, @kenny-crane, @claudio83, @alokkumar121, @steemadi, @soychalbed, @hive-data ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
@steemadi, you not going to have followers for too long if you spam share hive links like you have been, mate.
yeah but I wish otherwise 😀
BTW,, Follow me on Twitter,,,hhaahah
hope,, hope,, hope
It's an amazing token, will be sure to delegate to it.
Wow, que interesante. Estoy registrada... Trataré de emplear este bien recurso
Now, I understand more on How poshtoken works. Thank you for sharing this.
PIZZA Holders sent $PIZZA tips in this post's comments:
@kenny-crane(1/5) tipped @acidyo (x1)
Please vote for pizza.witness!
I think I get it now. Thanks for the deep explanation. I've linked my account a long time ago so all I need is to share other people's post that I find amazing. Fantastic.
Yea just don't forget to use the hive tag as well!
Sure. That's very important.
Well it's one of the requirements for the bot to work :P
Oh! I get it. Thanks.
Lol. I just had a bird eye view on tags of this post. They made me laugh. Hehe.
I understand about tokens and their working quite slowly. I didn't understand everything and so I have some questions.
Where are we supposed to register ourselves for posh tokens?
In the later part of the post it is told that someone commenting on the posts being shared on Twitter would get the hive reward??? Who will get the reward actually? Someone who comments on the Tweet or the post on Hive?
Hi Amber, go to hiveposh.com and register or link your Twitter and Hive account.
After that, you can share your post or other people's Hive post on Twitter with proper tags and don't forget to include #hive on your tags for the bot to recognize and if you get some likes and interaction on your Tweet, you will earn $POSH tokens.
Additionally, you can check this post for the info on sharing other people's post on Twitter for a chance to earn $HIVE. You can also see samples of tweets there that have been upvoted by OCD curators and will get liquid HIVE after 7 days.
I will share this post on my Twitter
Hi @acidyo, I love what @poshtoken is doing. I think poshtoken's future is very bright, exciting, and fun, and from my personal experience, it helps me a lot. Thank you for giving us poshtoken, have a nice day ahead.
I think I've been sharing a lot of posts on Twitter with people who aren't registered on the hiveposh.com site, because I don't remember receiving rewards for nominations and I know they've been taken into account @acidyo
Well let's just say that my main intention to help is satisfied.
When reading the post the distribution of Hive among the sharer is interesting but I have once link my account to hiveposh.com but never received any token. If anyone know how I can check if my account being registered?
oh, That's how it works.. 😁😉
cool system! Thanks for the breakdown..
pls feel free to enlighten me about anything. 😊
just a test
I can't wait to see how posh Poshtoken will be
I am still understanding how posh works and how great is that initiative, I have one question, I see that the project publishes every day the amount of token won by each user. When is published there the user receives the same amount of token on the same day? It is just because some posts show that I received some tokens, but my wallet doesn't change for a while!