That's right! Over the last two weeks we've been in negotiations with the HoboDAO, concerning the terms of a proposed partnership with Intrepreneur.Life. Today we are happy to announce that both parties have come to an agreement and this document seeks to present the reasoning & details behind this decision.
Overview
What is the HoboDAO?
The HoboDAO is a contest system that seeks to improve the rewards for quality content creators & curators, via human-curated daily contests, where the top 5 posts have the chance of winning various partnered tokens and/or a hefty upvote from @hobo.media.
Through utilizing their SP and SCOT token stake, the hobofund rewards quality content on a variety of topics, with we at Intrepreneur.life having been approached for our decided focus on entrepreneurial material, and more specifically - for our community's coverage of business & finance related news on STEEM.
Just as news agencies tend to cover a variety of core topics such as - technology, business, politics, science, health, etc, so too the @hobo.media seeks to support informative bloggers and independent journalists covering specific niches of interest here on the STEEM blockchain.
The HoboDAO is only going to partner with about five (5) communities, each covering a specific area of focus, such as the NATRL community for health, and now Intrepreneur for business & finance.
To find out more about the HoboDAO's contest curation system & how you can participate to win tokens as well as upvotes, see here - https://steemit.com/steem-engine/@hobo.fund/the-hobodao-contests-begin
How does the partnership agreement work?
Both parties participate in a token swap, where each receives a considerable amount of the partnered token, which can then be utilized to foster interaction and collaboration between members of both communities.
Partnership Terms
(i) Token Swap - 1,500,000 HBO for 150,000 INT
Due to difficulty in comparing the relative 'value' of tokens based on their ever-fluctuating prices on the S.E market, the trade was instead based on each token's max supply. With a ratio of roughly 10 to 1 (94 Mil HBO to 10 Mil INT), it was decided that the amount of tokens needed to be substantial enough to not only incentivize, but truly pose some benefit to the community members of both entities.
Thus it was settled that 1,500,000 HBO would be swapped for 150,000 INT, with the added stipulation that the ALL of the 150,000 INT would be staked by @hobo.media as a sign of good will (helps to keep token prices stable), while also allowing for hefty upvotes for members of their community who participate in their daily top 5 curation contest.
In turn, we at @Intrepreneur will hodl the 1,500,000 HBO and it will be incrementally gifted out to our quality content creators (eg. persons who consistently create Tier 3 posts,) who choose to blog specifically about the business & finance fields.
Please note that this is merely the niche of blogging that will be rewarded in relation to this partnership (ie these types of articles ALSO have the potential to earn some HBO on Intrepreneur.Life,) however it does NOT reflect or affect, Intrepreneur's existing policy on supporting entrepreneurial material in general, as previously described in our community guidelines' reward tier model.
(ii) What are HBO tokens used for?
HBO tokens are consumable/utility tokens that allow for entry into daily held curation contests on the HoboDAO. Each day the top 5 posts chosen by their Casters, (hobofund's decentralized team of curators), are rewarded with hefty upvotes from @hobo.media and/or various other partnered tokens like NATRL & NGA. Articles are submitted to the HoboDAO by sending 500 Hobo tokens to @hobodao with the address of your post or another person's post with at least 4 days remaining for curation rewards.
The Hobo token is a decentralized crypto-asset outside of the control of its original issuer and the valuation for the Hobo token fluctuates according to market demand.
(iii) Intrepreneur becomes a Senator within the HoboDAO
Senators are the largest group in the HoboDAO, and are responsible for creating the policies which the other two roles, known as the Casters and the Auditors, are then required to follow.
The system is managed in a democratic fashion, with Senators being called on as necessary to vote on new policies, to propose new project directives based on community suggestions, or when removing ill behaving or dishonest Casters/Auditors should the need present itself.
For more information on the HoboDAO & to keep abreast of both projects moving forward, see the links below;
https://steemit.com/steem-engine/@hobo.fund/hobodao-proposal-to-senate
https://steemit.com/steem-engine/@hobo.fund/hobodao-update-auditor-coordination
Discord
We at Intrepreneur are most excited to see where this collaboration leads for both projects, and we're optimistic about what the future holds for the STEEM blockchain as a whole moving forward.
Quest Update.
Due to the recent lack of participation, quests have been put on hold until January 1st, 2020. On that date, we will be sharing the very last quest which will be the biggest and best one ever!
Thank you to everyone who has participated in all the past quests and we look forward to inviting you to join us for our upcoming newly redesigned "quests" which will be more focused on curating/rewarding and even flagging other community members.
INT is cleaning up the streets, we understand that it is hard to find suitable material while searching through many spam posts and are doing what we feel is necessary to keep our community platform free of unwanted material.
There's a new account in town and it's name is @no-int-4-u. Anyone who has been previously abusing the platform will not be doing so from this point on as we are going to be making a much larger effort to reduce the amount of spam until it is completely gone!
For those of you that have made it to the end of this article, we thank you for your attention and until next time, PEACE!