As we announced a few days ago, the zing claimdrop for posh holders is coming to an end. POSH will have claimed roughly the same amount of zing in Hive as it placed into kickstarting zing and I gotta say for its first shot at this it did quite well. Zing has taken Hive by storm and there's countless of accounts making use of their Hive power by delegating to the project. We are really excited to see it and even more so of what's about to come with Zing!
As for POSH, it has already set its sights on kickstarting another project on hive, this time smaller but not necessarily by much. It's hard to say which is bigger or smaller cause they both have potential to outdo each other. The issue right now is funding, delegations to POSH aren't that high so it is not generating a lot of Hive and while it has received a lot of Zing for the Hive it did spend, let's just say it feels like it'd be a bit too early to sell any off considering Zing is quite young. Hive also hasn't been doing too great lately and most developers and freelancers are mostly interested in usd. :p
There's a few options, the one I'm leaning towards the most would be to move forward slowly. This next project plans on doing a retrospective airdrop to targeted accounts on Hive and thereafter a claimdrop similar to how Zing is doing, in the claimdrop posh holders will also be able to participate and receive an amount based on how much POSH assists on kickstarting the project.
This may be something obvious but probably worth mentioning anyway, by holding posh you are getting the value that POSH places into new projects. For instance, with Zing, POSH itself (which holds about 50% of all POSH tokens it has bought back from the markets) only received back about 50% of the Hive it placed into Zing, the other 50% went to the holders. I believe it was about 45k Hive which means that roughly 22.5k Hive worth of value in Zing went to holders of POSH through the zing claimdrop.
This is of course not financial advice to buy posh, one can easily earn it by delegating to @poshtoken or sharing on reddit (@redditposh). The next claimdrop will be similar, holders of POSH will receive about half of the value that posh receives in the new token for the new project.
Anyway, back to the options, 1. would be to start slow, posh would when it runs low on liquids sell of some zing for development or just wait for powerdowns from delegations and potentially a higher hive price. 2. Zing would get involved and also help kickstart the new project, the latter would make things a lot more complicated, though. I'm also not sure if people would like that idea as they'd want zing to focus on its own thing of course which is still in debt.
I think the best option would be 1., move things slowly starting with an air and claimdrop and see what the next steps are. The idea has quite a solid foundation already on Hive and what needs to be built may cost a nice sum but it's nothing compared to Zing so I think slowly but surely it'll do well. Maybe Poshtoken may also get more delegations from both posh holders and zing delegators knowing they could get early tokens from both projects by participating and helping raise more hive for it. The thing that doesn't "feel right" with option #1 is that it would dilute POSH's value it received from kickstarting zing even more, i.e. other posh holders would get more than the already generous 50% they received from zing if posh has to sell part of its zing to make this next step possible. Eh, we'll think of something better maybe.
Either way, just some thoughts I thought I'd write down. I'm quite excited for both projects but of course Zing is taking all of my attention lately. I also like how POSH was able to continue existing after pivoting from sharing slightly with Twitter making API costs unsustainable to still enabling sharing on Reddit for the time being and become a kickstarter of projects all of Hive will hopefully get value from. After these two projects are underway and doing good it will also be interested in opening up kickstarter opportunities for outsiders, i.e. community members being able to come to us with their ideas and needs to see how we can help. Quite exciting times ahead and I'm looking forward to see how things unfold.
Thanks for reading and being part of all of the projects mentioned above, I hope they'll go as well as they can for everyone involved and Hive as a whole. Now I need to go sleep and stop rambling. :D
I think the first option would be more effective, I mean Posh getting involved slowly, powering down some of its Zing and all the rest. But that would depend on what the price of Hive would be at the time. All the same I hope it does all work out nicely at the end. Thanks for the update.
Thanks for sharing what you are thinking. I appreciate the transparency.
Thanks for reading!
Its really good idea. The idea original idea getting reward by sharing hive at different media social was awesome . We can get rewarded on sharing and same time getting reward from it. We need more used case of posh and it was awesome to see ideas keep coming for it . Well done and looking forward to next project .
A great strategy to make projects collaborate. What you're doing alone with the projects you envision is what every project in the web3 space should be doping, but it is lacking. Finding ways to make projects collaborate would cause a better synergy and make the community stronger.
Looking forward to gathering more POSH and ZING ahead of the future.
Thank you for sharing your ideas @acidyo. Hope all your projects will be successful. I'm rooting for that!!
I hope to find out when the time comes and see if it is possible to make use of those posh that I acquired with the intention of winning Zing. Thank you very much for keeping us informed.
I really like these constant updates. It is good to see that Posh's next use will start soon after its Zing contribution ends. I'm assuming it's not gaming related haha.
Kind of but not the same. xD
Ooh, that's piqued my interest. Can't wait to hear more about it.
Hello friend, thank you for sharing this writing and I hope that all projects flow in the best way. greetings!
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Thanks for sharing your thoughts! I would go for option 1 as you already said: Zing should focus on its own (in my opinion).
I am really curious which other, new project posh will help kickstart 👀
This is a great Strategy that if well-implied will push the project forward. Thank you for sharing this
Sorry sir please unbanned Discord😢😢
And please unmute Holozing community 😢😢