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RE: Brainstorming Subscription Sinks for SCOT Tokens & Tribes
I think you could probably get close to the same affect with a subscription model, the only difference I could see is it creates a bit of a chicken and the egg problem. People won't sign up if the return is bad and people won't delegate if it isn't profitable. It has the potential to be a lot more work to try to convince people to delegate or subscribe and to be constantly trying to balance that out so that both sides stay happy, whereas with the bidbot script, the vote value and the token values basically act like a peg within a + or - 10% spread.
I think there's certainly a way to get a working subscription model though, I'll think on it for a bit and let you know if something solid comes to me.
Yeah that makes a lot of sense. I thought about how you can further incentivize the delegation side of the spectrum which should lead to more subscription interest. I came up with the idea of diverting a small portion of the inflation pool to specifically be split to delegators. This would allow a baseline return for all delegators. Then the subscription “payouts” would be icing on the cake.
The bid bot model makes a lot of practical sense and I find myself gravitating toward it. I like the idea of venturing out with something like this though. I appreciate your input greatly, thanks for taking the time and let me know if you come up with anything else as well 🙌🏽
Really interesting idea. I do like the idea of just having a base minimum as a "verified author" vs promoting posts which I typically don't bother with.
I do as well. I think that I’m going to run a voting bot in the beginning similar to Minnowsupport and then add in a second account/delegation pool to do a verified author subscription service. It would be cool to also include some sort of tab for “curated content” which could just be content by these verified authors.
Then becoming a verified author could mean that you get some sort of set upvote on your content, but you also get attention and marketing for your content — which is just as important imo.
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I think it probably helped that we had nearly 2 years of community building and delegation built up before we made this switch. We started with a higher base delegation than most might be able to.
I do think this would be a more consistent sink because of the set frequency and size of the fees to be burned, but clay has a point about getting it rolling.
Having an existing community/delegation definitely would help getting off the ground.
I agree on the consistency and I think I’ve landed on the conclusion to start with a bot model similar to minnowsupport (which, fortunately enough, Aggroed released a post just recently that Steem Engine now offers such a service) and add the subscription sink in later. Probably running simultaneous to the voting bot but on a different account. Then you get 2 sinks. The model could run similar to SBI and could also focus more heavily on attention/marketing rather than purely upvoting.
Thanks for your input, I greatly appreciate it :)
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The only thing I would consider is limiting the number of auto-votes the account does for the subscription. With any of our auto-vote, we had a lot of spam prevention built-in.
It would serve to make it 1-3 posts/day or maybe even something like 5/week. Inspiring people to try and trigger those votes on their higher quality posts first if possible. Quality over quantity seems to get the better manual curation I think.
That’s a good point. I was thinking 1x a day, but I kind of like that idea of 5x a week to inspire better content. The subscription would also have some stricter rules on content production - probably some general guidelines on length, quality, etc.. If those are violated then the subscription would get terminated and the user would be a new member to the blacklist.
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As the originator of our Blacklist, I remember when we as a team decided to add quality requirements to our control of the old free upvote system.
Just be sure to have some fairly clear rules, and still leave room for a 'at our discretion' too. With them paying, you can probably be a bit more loose than we were for the free upvote too.
Ah so you’re well versed in all of this. Thanks for the tips! I’ll definitely let you know if/when I implement all of this!
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