I have a bigger and more important post to go out soon about some new activities regarding POSH, but wanted to get this update out real quick due to a distribution change going out just now.
We've been focusing quite hard on getting @redditposh more active and with the help of @x-rain and many wonderful sharers we've been seeing a lot of progress there lately. The current distribution of POSH is 100 tokens per day to sharers based on how well their shares did, these can be checked via its comments or on the daily automated posts that get shared.
We've also been hosting contests where the sharers share their analytics which can't be observed by outsiders to win extra HP delegations and now also HBD. This has meant that we've had to leave hivepower staked to be able to delegate along with voting the posts a bit higher to generate extra incentives for the sharers.
While this is using the post rewards to generate rewards, it is being done without a single individual or entity profiting off of the rewards, instead they're going to people who are helping send traffic to our hive frontends. As you can imagine, bringing new users here to read content may lead them to check out what Hive is, what the rewards mean, etc to potentially create an account and become active here. On top of it all with 2 frontends, @peakd and @ecency adding view counters it's been refreshing to see the effects good shares have had on upping the traffic shared posts get - as you can imagine this could also be a great combination with experimentative things like ads and ad revenue generation which @peakd is testing currently.
Anyway, instead of just relying on post rewards, we'd want to encourage people who want to support this activity further to delegate to @poshtoken which manually curates shares and soon other initiatives as well which attempt to bring value to our ecosystem. For a long time, delegators have been earning 250 POSH per day based on the amount they delegate, this will now change to 1000 daily.
More info on this, POSH is currently at 770k tokens issued out of a max supply of 1 million tokens. Throughout the years, POSH has also bought back tokens from the market, i.e. delegators or sharers selling POSH they've earned and is currently holding over 250k tokens on the @poshtoken.wallet.
Again, since this is all to provide value to hive as a whole, we will be changing how distribution works once the supply limit is hit. Once we reach 1 million tokens, we will start distributing tokens we've already bought back once from the @poshtoken.wallet account to delegators and sharers. At this point this will start happening at a much lower rate and decreasing on a constant basis.
Example: from this post forward there'll be 1100 POSH tokens issued daily, but once the supply limit is reached, we won't be issuing new tokens, but rather tokens we've bought back over the 3 years of its existence. We will then lower the amount that goes out on a daily/weekly basis. For instance on the first week we may issue out 1100 tokens daily, while on the 2nd week we may issue out 1150 tokens, and so forth. All the while we will continue to re-buy tokens from the market over and over.
This artificial change of supply shock/halving is meant to make POSH more valuable to reward those who've supported the project and held for a long time which at the same time have supported Hive getting more traffic and recognition.
Either way, if you want to support the initiative, now is probably one of the better times to do so, with 230k tokens left to be issued, this means approximately 7 months left until we hit the max supply of 1 million POSH.
If you want to verify what's being done with the funds, how the account curates, etc, we post some posts on @poshtoken now and then about transparency of fund usage along with other side-projects connected to it such as @redditposh and our reward liquidator @nomnomnomnom (which takes no fee).
PS. We're also working on some other automated ways to check when hive links are shared on other platforms, some newer up and coming ones that are API-use friendly. More about that soon thanks to @hivetrending working on it!
Thanks for reading!
