Hi there,
Today I wanted to introduce an experimental project that I am working on, Steem Monsters Market Token.
This is basically a Steem Monsters (SM) market where you can buy your favorite cards like you will do on the other SM market (https://steemmonsters.com/, https://peakmonsters.com/, ...) the only difference is that by buying cards on this market you'll actually earn tokens.
How does it work?
Basically, the market is linked to a Steem Smart Contract (see the introduction of the Steem Smart Contracts), every time you buy a card from the market, the fees that the market gets to keep are rewarded to you as tokens, SMMKT tokens to be more precise (for example, if you buy a card for 1 STEEM, the market keeps 0.05 STEEM as a transaction fee, so you'll receive 0.05 SMMKT)
How can I earn tokens?
Your first need to register your Steem account on the Steem Smart Contracts sidechain, that's easy and only require you to sign a transaction with at least your posting key via SteemConnect:
head to https://harpagon210.github.io/steemmonstersmarkettoken/
click on "MANAGE TOKENS"
enter your Steem username in the appropriate field
click on "REGISTER ON THE STEEM SMART CONTRACT SIDECHAIN"
a SteemConnect window will popup, simply enter your credentials (your posting key is sufficient)
you are now registered!
How can I earn tokens?
- head to https://harpagon210.github.io/steemmonstersmarkettoken/
- look for the card you would like to buy
- press the yellow cart icon
- select the card you would like to buy
- press "BUY WITH STEEMCONNECT"
- a SteemConnect window will popup, simply enter your credentials as you will do for any other transfer
- that's it, if the transaction goes through you'll be granted with your tokens
IMPORTANT: only payment made with STEEM will receive SMMKT tokens. (I've not planned to support SBD payments)
What can I do with these SMMKT tokens?
The SMMKT has a max supply of 1,000,000 tokens, each token equals to a share of the market. The fees collected by the market are distributed across the token holders every 30,000 blocks, after this period the pending rewards are splitted and you can withdraw the amount of Steem that you have been rewarded with.
See my SMMKT balance and withdraw my rewards
To see your SMMKT balance, simply go to https://harpagon210.github.io/steemmonstersmarkettoken/tokens, enter your Steem username and click on "RETRIEVE YOUR ACCOUNT INFORMATION":
If you have SMMKT available you'll see them as well as your rewards balance
You can then transfer SMMKT tokens to a registered account, enter the amount you want to transfer, the username of the recipient, click on "TRANSFER TO" and fill out the SteemConnect popup with your credentials, you'll be asked to enter your active key to transfer tokens.
You can also withdraw your rewards, simply enter the amount that you'd like to withdraw, press "WITHDRAW REWARDS", and fill out the SteemConnect popup with your credentials, you'll be asked to enter your active key to withdraw your rewards.
More about the SMMKT token
The SMMKT has a max supply of 1,000,000 tokens, the only ways to get some are:
- buying cards via the above market
- receive tokens from the issuer account @smmarkettoken (via contests, giveaway, etc...)
- transfer tokens between users, after the tokens are issued to you, you are the owner of these tokens and no one else has access to them (like an Ethereum or EOS token)
- the issuance rate is halved every time half of the remaining tokens are issued (1x issuance rate from 0 to 500,000, 0.5x issuance rate, from 500,000 to 750,000, etc...)
- every time tokens are issued to your account, the same amount of token is issued to a list of beneficiaries account, @smmarkettoken and @sm-token (a @steemmonsters account).
Airdrop?
In 7 days, I'll issue, via the @smmarkettoken account, tokens to all the accounts that will have:
- upvoted this post: 10 SMMKT
- resteemed this post: 10 SMMKT
A few more words
Please remember that this project is first experimental, there might be some flaws, it was first designed to see how the integration of a Steem Smart Contract will work with an already live project (in our case Steem Monsters).
Even though in the beneficiaries a @steemmonsters account is setup, they are not involved at all in this project, it's just a way to support them.
Don't hesitate to reach out to me via discord (Harpagon#4087) if you have any particular questions even though it will be best to ask them via the comments :)
Nice! I can not understand the tecnical thing but I am impressed of everyone who put effort and time to make new things and experement at blockchain. Good Work !
I agree, time to make new things :)
Cool project if you want to market it better call it Transaction fee mining. How do you plan to grow other than using this token idea? Would be good to list it and link this post to the site and habe a domain name that a github page? But maybe I am getting ahead of myself-but those are some ways to grow :P
That's an experimental project, I don't know if it will grow or not, but if it does then I'll work on adding features, adding better hosting, etc... ;)
I think this is a cool way to test the sidechain. Looking forward to see the results!
me too!
Hi there @harpagon, this looks very interesting. I have registered on your site, and saw the transaction entry in Steemd (as per screenshot below), but I can't seem to open the TX itself. Is this a problem?
🙚 SteemMonsters: • Site • Discord | Steempunk.net: • Site • Discord | Chibera: • Site • Discord 🙘
It seems that the transaction explorer of steemd.com is down, I confirm that your transaction went through ;)
Yes, I have just found that I can't open any other TX in Steemd.com either. I've left a message for @roadscape on Steem.chat about this. Thanks for your reply.
Alright! Registered, upvoted and Resteemed! Exciting new coin! Following.
Seems interesting! I upvoted the post but cannot register right now due to being on my phone and it not being very friendly with this sort of thing haha. I’ll make sure to remember to when I’m back on the computer :)
I like this!!!
I am following you, upvoted, resteemed and registered on the site.
Interesting idea... is the idea that they can later be used to trade for steemmonsters cards?
Posted using Partiko Android
The only purpose of these tokens right now is having a share of the market revenues, the tokens don't have a monetary value (at least for now) but trading the tokens for cards could be a potential feature in the future!
Ok thanks for the info..Will check it out.
Posted using Partiko Android
I like this idea to have a reward for shopping. I signed up will check it out more later.
Very cool... I like this experiment and very interested in how it proceeds!
do upvoting this post and resteeming it give me tokens?
it will yes, just don't forget to register your account as explained in the post above
so I “registered” via steemconnect but the I have a balance of 0 even though I upvoted and resteemed and when I refresh the page I have to reenter my username, I am assuming that means I got "signed out"?
The tokens will be issued after the payout of the above post. Also, there is no logged in/out state on the website, you'll need to enter your username everytime
okay makes sense, now just because I am still a bit confused, if someone was to buy a steemmonsters card off steemmonsters.com will i still get rewarded the transaction fee? or will it be only on the website linked above?
only from the market above, steemmonsters.com run their own market so they keep the fees to do other stuffs (tournament prizes, etc...)
okay, so the general idea is in the future a project will be linked steem smart contracts and we will be able to get tokens and get rewarded? Similar to how kucoin works
Registered, upvoted and resteemed. Thanks for the opportunity.
upvoted and resteemed. This is awesome!