Introduction
HoneyComb is a locally installed service for interaction with the Hive blockchain that extends the work done by the hive developers and their work with hive-python. It is the distillation of my work on OpenSeed,ODESI,and my integration work with the GODOT game engine and Qt. Its purpose is twofold:
To allow access to the benefits of Hive without requiring large additions or reworks in application frameworks such as Godot, Unity, Qt, etc.
To give all creators access to the hive blockchain through a set of standard descriptors for a NFT-like interface. These descriptors then can be used by any interface or application connecting to Hive. It also facilitates the ability to share files on ipfs, or privately between clients for more sensitive content.
The project will include two versions of HoneyComb:
The full version, which includes a UI to create, upload, and purchase items.
A stripped down version to be distributed with projects that use HoneyComb to connect to Hive. This stripped down version won’t include the creator tools and will check for the existence of the full version of HoneyComb before launching.
Creator Tools
One of the most important non-technical aspects of using cryptocurrency or blockchains is the idea of personal sovereignty. To be completely in charge of your own data, your own money, your own fate. In the pursuit of this sovereignty we also need to consider personal responsibility. HoneyComb has been designed from the ground up to give creators full control and responsibility over their items, while giving everyone an easy to use market place for these items.
As the service grows we plan on adding more features suggested by our creators and will continue to adjust things to make the project even better.
Monetization for Creators
Definitions:
Base Rate: The base rate is the amount for which the creator is selling the default product. It is also the rate from which the reshares will be calculated.
Special Rate: Special Rates can be added to a file for special conditions, such as extended rights or special versions.
Reshare Rate: This is the amount shared by the creator to those who help redistribute the file at purchase.
Example:
An artist creates 3000 units of a track they have just produced, and sells the item for the base rate of 1.00 HBD.
The initial sell gives the artist 1.00 HBD or 100% of the profits.
Subsequent sells will see a (x * 0.00001) deduction in the profits, which are shared out to previous purchasers.
In the end if all 3000 units are sold the last track will sell at a loss of 0.03HBD or 0.97HBD.
Further information:
The Reshare Rate is set less than the minimum amount of HIVE/HBD transferable to further ensure that HoneyComb remains running on as many systems as possible. A ledger is kept on both systems (the creator of the file, and the sharer of the data) and paid out once the minimum threshold had been exceeded.
The amount shared and thus lost to the creator will never exceed 20% of the total profit, any purchase beyond this threshold may not receive any share of the profits for future sales.
Reshare rewards are calculated and distributed at sale if these two criteria are met.
- The previous purchaser is currently running Honeycomb at the time of the purchase.
- The previous purchaser’s HoneyComb client verifies the existence of the file.
The creators client will keep a record of the purchase made (backed up by Hive) and will continuously rotate the reward pool based on the two criteria above.
Multiple purchases can be made for an item, but the reshare reward pool will not increase based on the number of purchases.
The reward amount is set low to encourage users to purchase things they like, and to avoid “gaming the system.” However, HoneyComb is designed for sales of limitless copies of an item, opposed to the rare collections that most NFTs provide. This distinction means that everyone will benefit from the long tail redistribution of an item.
For re-sellable items such as rare-afied art, ingame items, etc. HoneyComb will facilitate the deletion of the item from the sellers account once the buyer’s client sends word that it has received the file. If the seller has bought multiples of an item, the deletion will only occur when the last item is sold.
At re-sell the original creator will receive 5% of the sale and the new owner will receive the reward pool profits from subsequent sales if any remain in the supply.
HoneyComb's Long Term Sustainability
The main purpose of HoneyComb is to decrease the overall cost of creating and maintaining products created by Vague Entertainment while also creating a bridge for other developers to follow in our path.
The long term goal for HoneyComb is to create a vibrant ecosystem for digital media that honors the ownership and sovereignty of its participants.