We have seen plenty of tipping bots on Hive. The first one that I used was ENGAGE, then came along WINE, LUV, PIZZA, LOLZ or PGM. There are probably others that I'm not aware of.
The idea is simple, you need to stake some of these tokens to be able to give tips to posts or comments in this currency. You can enter the command up to 10 times a day and often the reward given depends on the amount of tokens that you have staked. Sometimes the number of times that you can call the command is correlated to the amount of your stake.
Tipping bots are a nice way to show recognition when you don't want to use your hive voting power. It's perfect to reward comments on your post for example.
The problem with tipping bots is that the economic system behind them is often not really sustainable. For the person running such a bot, there are not many advantages. Of course, he can sell some tokens but then the number of tokens printed through the commands is kind of unlimited and it often becomes necessary to set some stake increases for the commands. In a nutshell, it's a delicate construction and it's not really a big money maker for the people running them.
A brand new Tipping Bot
There was a post yesterday about a brand new tipping bot. You will say: Do we really need one more tipping bot? I would say yes because this one is different from all others...
First of all, it's the first tipping bot that is actually linked to a tribe token, the CTP token. This means that it doesn't come as a pure tipping token but is included in a whole ecosystem.
One more use case for CTP
When you stake CTP you can earn curation rewards by upvoting posts with the CTP tag and now you can also use the !CTP tag to actually tip people with the same stake. Staking CTP has now one additional use case!
Sustainability of the project
Most of the traditional tipping tokens have to increase the stake levels regularly to fight the price decline of the token. With the CTP tipping bot, the people who run the bot can actually make it pretty sustainable.
The project that is run by @blainjoines, @jongolson and @elianaicgomes is working as follows: They have set up a new hive account called @ctptips. This account has been fueled with a delegation of 20'000 CTP tokens by the project owners. In addition, it has more than 3'000 CTP tokens staked and above 3'000 CTP in liquid form. These are all tokens that have been either owned by the project owners or even bought on the market. No new tokens were emitted for this tipping bot.
I suppose that the account will start to give upvotes on CTP tagged posts to earn curation rewards. These curation rewards will fill the account and be distributed as tips. If the calculations are accurate, the project can refinance itself neatly simply with the curation rewards of the account.
Even people not interested in CTP might want to stake the token
Even for people who are not really familiar with the CTP token, this is an opportunity and an incentive to stake tokens. They can give up to 10 tips per day in a token that has quite a stable value. Even for them it could make sense to increase their stake in CTP.
For the existing token holders, it's one additional use case and one more reason to stake CTP. They can now tip their friends and the people commenting their posts without any additional costs.
One more thing that I like about this tipping bot is that it comes without spamming the comment section on posts. The tips are directly sent to hive-engine without creating a comment below the post.
The CTP ecosystem is probably one of the most interesting in the Hive-Engine world. CTP is among the oldest tokens on Hive-engine. Compared to all the other projects that you can find there, it has a lot of use cases and the price is pretty stable.
Let's connect ! You can find me on these platforms: