Lately, I've been thinking about my monthly retention initiative. The program started in July 2023 and has been running for about one year. Each month, I give out ten delegations of 500 HP each. For the new Hivers, this doubles their HivePower or even more, increasing the weight of their votes.
Why This Was Started
The program began with a few goals in mind:
- Support bloggers who recently joined the network and have stayed active since joining
- Encourage our community to publish posts in the "C/Hive Pizza" on-chain community
The hope is that someone who joined Hive in recent months and has stayed active can benefit from an HP boost and feel appreciated and noticed.
I also hope people who receive this boost can pay it forward and nominate other new bees.
How Things Are Going
Some regulars participate monthly by nominating people to receive the delegation. I appreciate all of their help in finding people to support.
With my most recent monthly winners announcement, I was impressed by the replies. I saw a lot of positivity from both participants and nominees, and new relationships were formed within the group.
Five winners are chosen each month. Only one instance has had more than five entries submitted. While this makes judging easier, I hope to receive more entries. Maybe the entrants are checking the number of submissions so their time invested in writing the nomination post never goes to waste. That would be understandable.
The market value of Hive has dropped significantly since we started in July 2023, so the 500 HP doesn't hit as hard as it used to.
What's Next With the HivePizza Retention Initiative
First, I intend to keep the monthly program running.
I'm thinking about scaling this up and what that would look like. What if we reviewed every new Hiver who joined three months prior each month? And what if we handed out HP delegations to those who stuck with it and haven't cashed out yet?
I could help write some code to create the monthly list of accounts to review, and I could ask around for sponsors to increase the size of the prize pool. Early on, some generous individuals offered to contribute prizes.
"Hey Hiver, we see you. You've been active here a while now, and here's a boost to help you distribute stake in your corner of the network."
Other programs, like Hive Power Up Day (HPUD) and Hive Engagement League, have helped with retention in the past. Organizers put a lot of time into these contests and prizes. Shout out to @traciyork, who ran the HPUD festivities until life got in the way.