Why HF21 Is Good For The HoboDAO!
Why HF21 Is Good For The HoboDAO!
Hardfork 21 has made some significant changes to the Steem blockchain and your personal experience as a user. Author rewards have been reduced and even the total amount of rewards available to content for both curators and authors has been reduced in support of a fundraising feature allowing for projects to vie for economic support.
Perhaps the largest change, however, is the new 20 STEEM curation threshold set on posts and comments. This threshold is designed to prevent whales and really anyone from spamming the blockchain with posts and comments to self-vote. Now, all posts and comments below 20 STEEM will experience a reward penalty and every post and comment above 20 STEEM will receive a reward bonus.
You might find this to be a frustrating turn of events. It does now require people to work harder at building a following and causing their content to become viral throughout Steem. In this new environment, resteems might become increasingly valuable and crucial to the success of a post, and the amount of authors will likely shrink as receiving rewards through curation becomes more convenient.
Talent is essential in the world of this #newsteem, and this is good for the HoboDAO project. From the beginning of our project, the HoboDAO was intended to reward hard working, talented content producers through a daily curation contest. Our community's pooled Steem Power and coordinated active participants provide an avenue for quality content producers to build their reputation.
The Hobo Fund will reward every new follower (having 50+ SP in their accounts) with 50 HBO each starting from today. We will build up our followers so that the contestants can have their content shown to many people, real people and not just bots. Many accounts have 10,000+ followers, but often times a large amount of those followers are simply bot accounts. The HoboDAO will be accumulating a real audience and will be putting before these curators top quality work via our contest submission system.
On top of that, our winning contestants for our daily top 5 will receive rewards from the HoboDAO. The first 33 contests we have will give out these token and curation prizes:
1st Place - 100% Upvote / 5000 HBO / 100 NGA / 100 NATRL / Trendo Upvote (Possibly more tokens...)
2nd Place - 100% Upvote / 2500 HBO / 80 NGA / 80 NATRL / Trendo Upvote (Possibly more tokens...)
3rd Place - 100% Upvote / 1250 HBO / 60 NGA / 60 NATRL / Trendo Upvote (Possibly more tokens...)
4th Place - 100% Upvote / 625 HBO / 40 NGA / 40 NATRL / Trendo Upvote (Possibly more tokens...)
5th Place - 100% Upvote / 312 HBO / 20 NGA / 20 NATRL / Trendo Upvote (Possibly more tokens...)
Our sustainable model will allow us to regularly reward the top five contestant submissions with a 100% upvote from the HoboDAO and Hobo token rewards. Here are the sustainable rewards for our daily top 5 submissions:
1st Place - 100% Upvote / 5000 HBO / + Potential Tag Specific Upvotes
2nd Place - 100% Upvote / 2500 HBO / + Potential Tag Specific Upvotes
3rd Place - 100% Upvote / 1250 HBO / + Potential Tag Specific Upvotes
4th Place - 100% Upvote / 625 HBO / + Potential Tag Specific Upvotes
5th Place - 100% Upvote / 312 HBO / + Potential Tag Specific Upvotes
The HoboDAO reward system is powered by its partnerships with other community tokens such as Engage, Natural Products, Trendo and others. It is also powered by its many delegators known in the HoboDAO system as Delegation Miners that mine rewards in the form of Hobo tokens by delegating to the HoboDAO main curation account: @hobo.media.
Why Care About Owning HBO tokens?
The daily contest and reward system operated by the HoboDAO is fueled by the utility token HBO, which is used to satisfy submission fees for entering your content or someone else's content that has at least 3 days remaining for curation (upvoting) the content.
The submission fee for entering a daily contest is 500 HBO and it will be sent to the Steem account called @hobodao. Sending tokens to this account is similar to burning tokens because this account requires all Casters, Auditors and Senators to agree and sign for tokens to be transferred out of the account.
The @hobodao account will continue to accumulate the submission fees and will not be able to release these tokens without a signature from all members of the HoboDAO. While it is possible that one day all members of the HoboDAO could in theory coordinate to redistribute the spent tokens, it is highly unlikely for that level of coordination to occur. This means that the HBO token will be a utility token with a deflationary state.
The main curating account @hobo.media will have its Steem Power locked up with the requirement of a majority of its Senators having to agree in order for a power down to occur. This means that as the @hobo.media account continues to curate content, its upvote value will only continue to grow stronger as the delegator pool grows and curation rewards accumulate.
The more Steem Power this community managed account accumulates the more in demand the HBO token will become as more and more people seek to submit work to the HoboDAO daily contest system.
How To Obtain HBO?
You can mine HBO tokens! There is a growing number of people participating in the HoboDAO mining process on the Steem blockchain. But, what exactly is the mining system for the HoboDAO? Let's get into how you can mine Hobo tokens and why some people are attracted to doing it.
The HoboDAO has a unique reward system called Delegation Mining. Currently, delegators are being rewarded with 500 Hobo tokens for every 5 SP delegated, but on 9/01/2019 rewards will be 250 HBO every 5 SP delegated, and continue to halve again the following month.
Don't have a lot of SP? Not a problem, with as little as 5 SP delegated to the HoboDAO (@hobo.media) you can join in and start being rewarded in HBO tokens despite having a small amount of SP.
Become A Hobo token Miner:
Delegate 5 SP to HoboDCC HERE (250 HBO Month Reward for 9/2019)
Delegate 50 SP to HoboDCC HERE (2500 HBO Month Reward for 9/2019)
Delegate 100 SP to HoboDCC HERE (5000 HBO Month Reward for 9/2019)
Delegate 200 SP to HoboDCC HERE (10000 HBO Month Reward for 9/2019)
Delegate 500 SP to HoboDCC HERE (25000 HBO Month Reward for 9/2019)
Hi @hobo.fund
It's great to see that you're optimistic about hf21. This fork indeed "has made some significant changes to the Steem blockchain" and I'm wondering how will users behaviours change.
I tried to find any info about it and I couldn't. Any chance you could share link with this information being publicly shared by Steemit Inc?
OMG. How it that stop whales from self-upvoting ? This Im still not sure and I would love to know.
I wonder what will be "penalty" for not reaching 20steem in rewards. It's pretty much not possible for regular users to ever reach that much without using bidbots. Wouldn't you agree?
Right now I think that the only content creators will be either those who do not care about rewards at all, or those who are wealthy and for that reason they are in "rich peoples club" (whales seem to support mostly each other, in hope of getting solid upvotes in return).
You said that "it does now require people to work harder" -> my impression is that most users (I've read tons of comments) already struggled with lack of visibility. Building followerbase for new users will be harder than ever. For those without $$$ ... goal hardly possible to achieve.
I wonder how many small users will still be on Steemit before this year will be over.
Upvote on the way! Catch :)
Yours,
Piotr
Hi @crypto.piotr my apologies for such a late reply.
Apparently, the threshold has turned out to be $10, which is quite a bit higher than 20 STEEM at the moment...
So, previously, people were buying large amounts of SP to upvote only their own content. This is unappealing to many of the members of Steem, so the penalty to rewards below $10 does effectively require everyone to upvote in a more social way. Very few whales even have a $10 upvote, so now th whales even have to coordinate with each other.
This is bad news for many smaller bloggers, no doubt about that. I would not say that #NewSteem is necessarily a better Steem. However, for the HoboDAO project, the changes were beneficial.
See, now more than ever, people need to congregate into large communities and delegate to human-powered curation programs. That is exactly what the HoboDAO is, so #NewSteem might not be a good change for most bloggers, but it is very good for the HoboDAO.
I actually protested the changes before they happened, but once they went through I accepted the changes. I thought the changes would be bad for Steem, but I knew it was good for our project the HoboDAO.
I encourage the bloggers that are struggling due to the changes to get involved in the HoboDAO, because this system has a much better potential for helping them grow and profit than for them to just try doing it alone.
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Dear @hobo.fund
The same day August 27 after reading publications about the new HF21 I made a post, Active .- "Hardfork 21" _. Inactive
One of my comments was as follows:
And with many friends I have on the platform they have told me that they will leave.
I will continue creating and trying to improve, but at the same time encouraging others to continue is not easy and much less for the situation in the country where we live in Venezuela. because it is very unfortunate to create quality content but that is not seen and not being seen is not rewarded.
That happens to many.
Greetings from Venezuela a country that fights for its freedom.