Had a conversation the other night with another hiver who went something like "why do you call out project's for doing something "bad" when you're doing so much self-voting yourself?" which, you know, annoys me a bit. Not just that it's not technically true but to think I'd be that dumb that I'd get myself in the attention of others who will most definitely try and turn every stone to find dirt on you when you try and break up their voteselling/trading/etc. Their go-to was the automated poshtoken posts and comments that we've had to rely on lately to generate some liquidity for our redditposh activity so I figured I'd make a post addressing what's going on there and at the same time provide some stats of how things have gone so far.
If you're not aware of poshtoken and what "nonprofit" means there from my perspective, here's a quick rundown. The project was launched fairly, meaning there were no tokens or hive rewards going to the founder/creator just for having created it. There were however rewards going to devs and sharers for participating in the project, this doesn't exclude me as I have participated in it myself too, meaning I have and could continue earning rewards from it much like anyone else has the equal chance - I think that's still considered running a project nonprofit.
I have not paid myself for the countless hours that's gone into coming up with new features, coming up with how the distribution of rewards occur and all other things that used to work back when twitter still allowed us to operate on there - something I plan on doing differently with Holozing. I.e. there I will be counting the amount of hours and effort that's gone into creating it and eventually when the project does better I'd send myself some rewards similar to how developers and other contributors have been getting.
Okay, so what is the state of posh right now. The main rewarding mechanism currently is earning rewards for successfully sharing hive links on reddit. You can easily track this by checking the
@redditposh comments, it mentions what post got shared under the shared post with an embed to the reddit submission and then it also notes who the sharer is if they have connected their reddit and hive account on hiveposh.com. This means that when someone registered shares a hive link on reddit and it does somewhat well there (gets upvotes, engagement and potentially drives traffic towards the shared hive post), we also have curators looking through the comments to give them hive rewards on top of the daily POSH rewards as depicted in the
@redditposh posts.
Now where is the liquidity issue that's been forcing us to vote up
@poshtoken posts and comments?
To make sure to give shareres all of the rewards in liquid form we have
@redditposh send beneficiaries to
@redditposh, this is a service that works much similar to
@redditposh but compared to reward.app it does not take a fee for liquidating rewards (1% to 0%). This is to keep the project nonprofit.
With the increase in people using redditposh lately and getting better at it, i.e. some posts doing this well as highlighted by
@x-rain:
We've been making sure to properly reward these shares with upvotes, as much as we have been able to with our voting power from ocdb and some times zingtoken as this is something that benefits the ecosystem as a whole. 17,000 views on one of our most popular front-ends. However our liquidation service has not been able to catch up with all the activity, i.e. there's been too many rewards for it to liquidate them fast enough and unstake the hivepower to send out the rewards. This is why we've been trying to generate extra liquidity to send its way so that redditposh can catch up on the missing rewards which currently sit at around 3790 hive.
I asked
@hivetrending for some help to fetch some stats on how much rewards redditposh has sent out so far since sharing activity not only took off but got a lot better over time.
Top earners so far:
4204.883 davideownzall
2513.981 loading
2411.743 theworldaroundme
1683.443 dkkfrodo
1527.617 tsnaks
1109.906 x-rain
1070.793 blkchn
916.115 oldmans
507.139 mauromar
316.007 guurry123
246.928 uwelang
148.034 hive.fund
146.992 wissenskrieger
131.719 kur8
128.263 agrante
Total Hive sent out to everyone from redditposh: 21355.962
Now how much does this equate in traffic? It's kind of difficult to fetch that data, but if you follow
@x-rain you can check the weekly contests where sharers share some of their best shares and how much impressions they got on reddit while also checking how they did on our two front-ends that count views. Sharers can also earn delegations from poshtoken and some hbd per week.
The reason this is important, and I'm sure the sharers can weigh in on this is that learning and getting good at sharing hive links on reddit takes a lot of dedication, time, effort and trial and error. Once you learn the tricks and start finding subreddits that don't just instantly ban you or your shares cause it's "an unknown blogsite" it can be one of the best places to attempt to bring traffic to our ecosystem and is currently one of the most effective ways of doing so.
Thus poshtoken, redditposh and other projects involved in our ecosystem can be considered similar to projects like hbd.funder/hbdsabilizer or buildawhale burnposts/comments. While they do reward people participating in it, anyone can get involved and the outcome is that it brings traffic to our front-ends which is supposed to bring value to all stakeholders of Hive.
Now while poshtoken is nonprofit for me, that doesn't mean I can't profit off of it in different ways, but all these ways are ways that anyone can participate in fairly. For instance I could buy POSH tokens and speculate that maybe this will go up at some point in the future if it gets some kind of utility or if we go back to buying up some tokens to retain their value for sharers and supporters of the project. I could also participate in sharing again alike others and potentially earn some hive and posh by having a hive link do well on reddit.
Point is that I'm not earning from POSH in a fee-based way, I'm not taking a fee for every transaction or upvote or liquidation or that I'm sitting on a stack of POSH that I gave myself because I felt entitled to it for creating the project. Lastly it also doesn't only benefit a small group of people but those actively doing "good" for hive as a whole.
Anyway, thought I'd make a quick post explaining the current pending rewards and lack of liquidity which we hope catches up soon so redditposh can send out rewards as soon as they get paid out while at the same time maybe squashing some rumors or whatever may be spreading because I care enough to try and point out when I see projects going outside of curation.
