There's been some development going on with @poshtoken lately so wanted to update everyone on it.
We discussed in the last post how we might bring in a "delegation to earn posh" option. This was discussed and thought over for a while, as we initially wanted to keep earning $posh solely by only sharing hive links on centralized platforms to drive in traffic to Hive and get more readers to maybe join and engage on your posts. With that in mind the percentage of the daily issuance that will go to people who delegate will not be high. To begin with, no one should expect that it will be worth it on a monetary ROI level. As you can see by its price chart:
the average price the last few weeks after an initial "pump" by myself of a total of 60 Hive caused it to go to 0.12 hive per posh and then back down. Needless to say POSH is very illiquid, some who earn it either sell it on a constant basis or others just hodl with very few attempting to time and wait it out to place sell orders when they see some movements happening. Meaning even if you want to buy in and speculate on it it will be very difficult to do so on a larger scale unless you've been very patient and active placing buy orders in the past and picking up what gets sold. This type of tokens are very common when they're young and unknown.
With that said, the delegation option will make it a bit easier for people to "buy" into the token for long term speculation but it will be limited as the main issuance should still go to earners sharing Hive links onto Twitter and in the future possibly other platforms as well.
I believe this will be a good balance between people wanting to buy into it with delegations, early adopters who've earned $posh by sharing now seeing the daily issuance of 500 hive diminish a little in that regard and at the same time the Hive returns from the delegations being used to place buy orders onto POSH and burning the tokens from circulation. Which should be a win-win for both delegators and earners seeing the price possibly go up without even any great usecases for it yet, but we'll get to that.
Percentages are yet undecided, only thing that's certain is that the 500 POSH daily issuance to earners will drop as part will go to delegators.
$POSH PETS
An artist has been found for POSH PETS and hired for a test run. We'll be seeing the outcome of the first couple of pets (a cat and a dog) and if we're happy with it for the POSH PETS NFT we're planning on creating.
A tl;dr of POSH PETS as of the current ideas:
Users buy an NFT with Hive/HBD, the art is generated at random (we'll do our best to make this provably fair by using hive blocks mixed in the generation seed so you can trust the rarity will be as random and unaltered as possible) and upon minting you'll get to see the outcome of the POSH PET you purchased.
There will be a mix of different dog and cat breeds with different traits and accessories/clothes. Imagine a golden retriever in a shirt and tie or a cat wearing a Hive cap, etc. Them having different eye colors, different fur patterns, etc.
With the NFT, you'll be able to start earning POSH passively similar to delegating Hive to @poshtoken, the only here will be that not only will you earn a different amount compared to your POSH holdings, but it will also depend on what kind of NFT you have (or how many). Different traits in the NFT will give you more points to earn from the "staking". Another thing is that these POSH that are sent out to POSH PETS NFT and $POSH holders won't come from the daily issuance but will be be bought up with part of the Hive/HBD you purchased the NFT's to begin with.
More details on that to come, but one thing I want to make sure is known is that we'll also be paying off any amount of work that went into creating the NFT (such as the artist(s) and dev(s)) to make sure the @poshtoken project continues to be community funded and driven with no single beneficiary or middleman getting extra rewards or a cut from it. We'll attempt to be as transparent as we can in that regard.
We hope to showcase some POSH PETS NFT examples with you soon, so stay tuned for that and some more juicy announcements and possible collaborations! Until then the delegation option will soon come online so we'll make an announcement when that's ready.
If you have any questions about $posh or @poshtoken feel free to ask in the post, if you're not signed up yet make sure to head over to https://hiveposh.com/ - authenticate with twitter real quick and use hivesigner or hive keychain to connect both accounts to be able to earn POSH for sharing hive links onto Twitter with the #hive tag as the only requirement!
50% of post rewards being sent to @poshtoken for future development.
How does the delegation work? I have read the other post but I didn't quite grasp it yet.
Sorry for the many questions, but want to clarify.
No worries! Will probably make it more clear to other readers as well. Also FYI the delegation rewards haven't started yet.
That was a very complete answer and cleared my questions, thanks! I will follow and see how it develops but it got me curious about it, the strategy seems solid and bold to the point it might work very well.
Cool, and to re-iterate point 5; aside from paying for costs such as artists for the NFTs or development work for the minting and distribution of stake to NFT holders any other rewards @poshtoken earns from delegators or the daily posts or NFT purchases once costs are covered will remain withing poshtoken or to buy up tokens and burn them.
End goal will be to both speculate on the token and future usecase for outside buyers, the NFTs and their potential usecase and to make it more profitable for people to share Hive links on their centralized social platforms. My vision would be that influencers will want to sign up for POSH just to share their Hive posts or others, whether new or old to their audience to earn POSH which in the end just brings more value to Hive and its holders. Everything up to that point will just be bonuses and other things to do with POSH but who knows what doors it may open along the way.
I'm thinking about adding a way to opt in for the POSH rewards from delegations, though. There may be some investors who just want to help POSH reach higher prices as it may directly mean more traffic to Hive and aren't interested in hive-engine tokens so they may not opt in for those rewards.
Will probably be something like you delegate and leave a comment if you want to receive POSH rewards.
Totally awesome!
just bought 666.5 tokens in support of your initiative and project. I hope to see it succeed and more engagement happens across the blockchain! :D
I love the idea of an NFT earning POSH ❤️ Do we get a new choose if we want a dog or cat???
when are you expecting to implement the delegation feature?
Dev said "soon". :D
Hi @acidyo!
I am one of the creators of the RU community, and the sole manager of the @ru-trail account.
@qwerrie gave me your question and his answer to you from Discord, and I can answer any other questions. On the merits of your question, @qwerrie answered exactly the right thing.
RU is a non-profit project, we do not pursue any other goals except to welcome and support Russian-speaking users on Hive (only Russian-speaking users and their blogs). @ru-trail delegates receive monthly payments (80% of the curation profit; all other funds go to support posts in the community, for example, using Ecency), but by coincidence they are also the majority of our bloggers (there are very few Russians on Hive). The votes of @ru-trail depend only on the efforts invested in creating the post and other standard principles of publishing on Hive. I personally check every post in the community. Also @ru-trail supports comments in Russian (usually 3-5% upvote) — perhaps that's what you noticed because most of the comments are also written by our delegates (and I can easily refuse this). There is no question of any sale of votes or votes for the delegation — it was the principled position directly stated in the announcement of the community.
I always listen to other people's opinions, and if necessary I am ready to change the voting policy.
Thank you for your attention.
It is really interesting that through NFT, one can start earning POSH passively like giving hive to @ poshtoken. Waiting for the POSH PETS NFT example.
Definitely keen on getting both a dog and cat Posh Pet!!
I'd buy a POSH pet!
😺
How well does POSH work with PeakD links?
It should work flawlessly, there's some hiccups here and there which the dev can't really explain except knows it's the Twitter API that's causing the issues, but I don't think it's missing a lot of posh eligible tweets. The requirement is solely a link from peakd, hive.blog, leofinance, ecency (more in the future) and a hive tag for it to work which can be confirmed with the poshtoken comments that send rewards to the sharer if they're connected on the website so we know who is who.
More power to you and @poshtoken, @acidyo!
Posh pets with laser eyes!
Hi @acidyo ! I'm interested in sharing some of my Hive blogs on twitter. I'm pretty new to Hive and would love more information about Poshtokens, without having to log into hiveposh.com. Are there any other resources that you can point me to so that I can learn more? Thanks!! :)
Hey, yes, this post should be up to date on most things of how posh works right now:
https://peakd.com/hive-174578/@acidyo/dollarposh
welcome to Hive! :)
Amazing, that's exactly what I was after! Thank you!!! :)
Interesting, haven't earned a posh before, well I blame it on the Twitter ban in my Country having to use VPN most times is a pain in the ass, not to even mention the security risks involved.
Notwithstanding, I do sense some better days for this project, considering the design of these NFTs you mentioned, it all brings back value to the POSH TOKEN... GREAT STUFF!
~~~ embed:1458169260816015360 twitter metadata:eWJhbmV6a2ltMjZ8fGh0dHBzOi8vdHdpdHRlci5jb20veWJhbmV6a2ltMjYvc3RhdHVzLzE0NTgxNjkyNjA4MTYwMTUzNjB8 ~~~
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
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STOPCheck out the last post from @hivebuzz:
Wow, this is great. Good job as well @acidyo and @poshtoken
Think I have finally found the first NFT projects I can buy into. Fingers crossed as to what the minting would look like.
Can I earn posh by sharing on reddit and instagram too? I have an important profile on reddit and a medium profile on instagram.
How can I get Weedcash Network links to work for Posh?
Please DM me about it.
Saludos @acidyo, tu post contiene informaron de interés, en lo personal, me sirvió de inducción.
I'll check it out but just FYI many send me promotion ideas and it's usually not something I think are worth pursuing that much, especially after a professional marketing approach didn't really return any substantial results after receiving a lot of funding.