I was meaning to write this post earlier but been quite swamped lately with zing and curation (have put a lot on my plate + got another contest with over 400 comments to evaluate soon (send help)), but we implemented some changes to POSH's token distribution so thought it'd be a good time to make an official post.
For some time, we wanted more delegations to hit the @poshtoken account as our need to curate with it increased with the increase of reddit activity. We increased our token issuance in an effort to lure in more delegations but this did unfortunately not do much (aside from my own delegations :P). We also increased the issuance to reddit shares and that's been going a lot better, on the daily posts people can see how much better their shares did compared to others that day and they received a proportional posh rewards based on that.
We are now however entering the end-game of POSH distribution. This means we are close to reaching the max supply of POSH at 1 million tokens with @poshtoken (through @poshtoken.wallet) haven't purchased back close to 400k of the supply.
Before I go into the next steps, I'd wanna discuss GOSH as well.
We've had a great launch of our POSH and GOSH activities over on @peakd snaps through the Hiveposh community: snaps/hive-197333
@shiftrox has stepped in to help and lead the way with curation there as well and we're building quite a nice "raid" of people picking up (mostly tweets at this point in time) to empower and help the reach as long as they're hive related.
Okay, I already sense I'm going to make this post way too long if I bring up every detail of our current operations, so let's just mention this as well.
@hivetrending helped us generate a bot that now also tips out GOSH to the snaps above, this may be used for snaps that do really well or some that may not do too well and you'd rather give them a tip than a hive upvote. Point being, GOSH is now being distributed alongside hive rewards and @poshtoken has already bought back over 50k with same tokenomics as POSH (1m max supply).
So what are our plans with the tokens?
For starters, POSH is going to provide liquidity for anyone who still would like to speculate or "donate" to the cause by applying buy pressure on the tokens which reward people for sharing hive content that's beneficial to all of us.
"If everyone profits off of it, no one wants to bet on it" not sure what the real saying is, but it's been quite clear over time that if it's not something people directly profit of, they're not willing to speculate or invest money in it because they wouldn't "feel" the difference as much. It's easier to invest in a token where there's only 20 holders because there's more upside and you feel early, etc, but if it's a fairly launched token that's hard to earn and helps the whole ecosystem, they're not as inclined because why should they be the ones to help out.
Either way, there's still been a few speculators over the years and more importantly, holders, people who've shared and helped hive along either with the growth of our activity and active userbase on Twitter/X or now lately with getting our front-ends constantly being shared on Reddit. For those, we're going to try our best to make sure that we make POSH and GOSH scarce and that they may get some profit off of their patience and altruistic investments.
Furthermore, once we've bypassed some liquidity issues we've had as of late mainly due to long powerdown timers, and once we've caught up with the prizes for our weekly reddit contests, we want POSH to start looking into more platforms to work well on. Bluesky POSH is a good start but it's kind of half finished right now.
Some more plans as to what's to come after that, but too early to mention here so let's cross that bridge when we get there.
For now, POSH token distribution has been lowered to only 50 per day to POSH delegators and 10 per day to Reddit sharers.