It's the update no one waited for, the monthly report for what this account's financial transactions have been up to.
Disclaimer: All this is done as an exercise to use the account's stake responsibly. This monthly report is fairly new and is something we're looking to improve in our future updates. The data can have other factors that may not reflect the accurate status of the account at the time of assessment but you can always backtrack what it's been up to thanks to the public ledger. We are not accounting professionals and this just a kicks and giggles hobby. The snapshots were taken within the 24 hours of the 1st day of August.
Note: The Hive used for contest and events had baseline budget so we just thrown in some numbers before we figured out how much we are going to spend for this month's community contests/events.
This is what the @hivephilippines account has been stacking. Anything it earns from a small share of the delegator's rewards is added to the @hiveph account.
The total rewards accumulated for the month of July will be allocated in: 88.642 Hive Total to Community Account/Staff/Community Rewards (30/30/40)
35.4568 Hive for the community games is the working budget for the month of August. 30% goes to the staff to incentivize the volunteer work they do. Not all staff members get a cut on the rewards. We have an internal policy where anyone can claim a stake in the staff reward pool if they really think they've done some work for the community. Staff members can also opt out from receiving these incentives.
How the HBD will be used is still open for debate. There's still staking interest rates, post rewards in HBD, and etc. We're just keeping things simple in Hive for now.
This will be a monthly activity and hoping it stays this way or improved in the succeeding months.
The post ended here. Move on.
Extended Input dahil hindi complete yung post pag hindi wala pa akong dinagdag.
30% of the accumulated rewards goes back to powering up the community for sustainability reasons. Staff rewards allocation was reduced from 35% to 30% and that 5% went towards adding more rewards to community events. Let's see the bigger picture from the previous report where it contains the accumulated rewards for the past 3 months and how much went back to the community account and members.
Hindi naman malayo yung income ng account from the previous report and things became more efficient when it comes to documentation and distribution. A lot of the things planned for the community gets realized 3 months after conception due to several reasons like walang time, it's all volunteer work, need ng data to support/justify this and that. But the goals have always been the same, make the community account grow for it to be more capable of supporting it's members.
I can't stress this part enough, "your membership is a privilege and not a right in this community", this means all the resources available to this community is readily handed to you just by having a label of a member. If taken lightly, madali rin yan mawala and it's really easy to take this stuff for granted after all, it's a group of unnamed users effort and resources to get this account to where it is right now, and if you as a member could not feel a sense of part ownership to contributing to this effort, madali lang talaga baliwalain yun.
The simple act of delegating to the community account (hivephilippines) supports multiple authors within the community and you also get a liquid payouts for your stake. It's a setup where everyone wins. I have never been a proponent of mandating any delegations to the community account, it has to be a volunteer act, that's more rewards are allocated to those that do bother in other forms.
We're slowly building up the Kaban ng Bayan just to support those actively involved with the community. 40% allocated to community events/contests can still change in the future and may shift to staff rewards or community account building.
This sort of flexibility is necessary especially during the bear markets when members tend to become inactive/leave. Directing it to staff incentives or community account powerups is investing on the long game when members comeback or new members are welcomed.
Everything seems like pocket change until the bull market comes and then one wishes they accumulated those pocket change with compounding interest. This bear market isn't so bad (coming from a generation where things were as low as 0.1-0.12$ per Hive) the woes of those that entered the ecosystem right now sounds meh from how I see things.
The only rewards you are guaranteed are the amount of tokens you staked into the ecosystem. Curation rewards, posting rewards, and promised rewards are always outside your control. It's wasteful thinking to focus on ideas where you have direct influence on your posting rewards (you don't most of the time), because curation here is mostly tied to how well you integrate yourself into the social ecosystem.
Here's a thought to ponder on, will the platform fail if it doesn't give you money? or will it succeed if it does give you money? as an individual, it's just the height of conceit to think one's existence directly impacts the future of a social ecosystem, it's not about you. There are more important things to think about and build on greater than whatever your wallet is holding.
Staff members from HivePH get allocated a large share of the community rewards because not only do they volunteer their precious time in building on others because they are engaging in different strategy on the same board as the rest of the players that play solo. Focus on efforts that uplift others around you because it's already programmed in the system that everyone wins from the inflation and you also get to keep the tips you hand out with 50% cut from your staked HP value.
Sinulat ni Adam~
Para sa ekonomiya.