Decentralization within a community does not necessarily translate into a chaotic community, but a full self governing community with self given rules and repercussions for faulting the rules as opposed to a central authority dictating the rules whether or not they are agreed upon by the community.
Proof of Brain community on Hive is revamping or has revamped and I can’t help but see a super potentially prosperous project ahead of us, if my thoughts are correct that is. So a new community/token or community token has sprung up, VYB(verify your brain - Vybranium), from what I understand, it is a sister community for the ProofOfBrain community with few twists.
These twists are the potential ingredients with the ability to take the economy of the community to the next level. VYB is literally encoding holdn as a culture into the community, you’re literally holdn VYB tokens till you decide to unstake and forfeit the benefits of staking from that moment, putting the account in a temporary blacklist.
By bootstrapping the Proofofbrain community, proofofbrain stakers were airdropped the VYB community tokens staked. I literally woke up to 2,300VYB staked into my wallet.
The proofofbrain stake holders who received the airdrop are mostly the die hard holders and believers of the proofofbrain community, they held the token go through many trials, also watched it drop in value from over 0.3$ to less than 0.08$ as the community went through difficult times. Certainly it is safe to believe that majority of the tokens are in the best hands with a diamond handed mindset.
One of the major bones of contention that plagues the Proofofbrain community is Downvotes, some people believe it should exist, others don’t for several genuine reasons. There were also several conflicts that stemmed from “self votings”, some people believe it shouldn’t exist, others believe it should based on several valid reasons.
However, some of these options weren’t feasible given the present configuration of the communities rules, hence, VYB community sprung up with the idea to offer a sister network that satisfies the ideals of the other side of the community by configuring the community with the desired rules of playing. VYB community will have no Downvotes, or SelfVotes.
Hodlers Paradise
Another twist in VYB’s tokenomics is that author and curation rewards from the staked tokens will also be automatically staked. So by this, accounts will continue to get powered up till they decide to unstake. Think of it like holding a retirement token in an account, the account is continuously fattening itself over time over tons of account holders, accruing value.
Automatically, sell pressure on the VYB will be reduced to the bare minimum, sellers will majorly constitute of buyers or speculators who buy from the market and intend to take advantage of market swings, other sellers will come from those who are willing to unstake to exit the community.
Certainly there will be other perks to holding the VYB token down the line so that the community can attract more participants irrespective of its value in the market which I suspect will become high in time. Will VYB community be the hodlers paradise?
In conclusion, I’m all for these experiments, we need to employ top notch sustainable, valuable and scalable tokenomics that will be valuable that will be fair and will benefit every level of participant through several forms of testing, trials and errors. If peradventure this VYB experiment has a loop hole, we will rethink alternate solutions and keep iterating till we get it right. This is the power of a community.
Will it work? Will it not? Only time will tell, if it does, then other communities could incorporate few strategies and get traction faster, and if it doesn’t work, we will learn and move on. Certainly there are other tokenomic features and market factors that contribute greatly to the health of a token, but if we can fix from within first, other external factors will follow suit. I’m just saying, I’m all for these experiments. Cheers to the entire proofofbrain community.
Kindly visit the VYB community account for more accurate and updated information about the project. Thanks for reading.