Day 6 - What Are The 3 Most Plausible Use Cases For The SNAX token?
There are many posts we can see in Steem blockchain. As upvote worth decides its visibility, we can not make a judgment on the basis of how much the post has earned. It could happen that a post is showing very high earning but the content is below average or may not even contain any valuable, useful content inside it. Similarly, it could also happen that a post has not earned even a 0.10 USD upvote in total does not mean that the post means nothing. That post could be a real gem in terms of its content and value addition to the ecosystem of Steem blockchain.
So in such a case, the readers(not followers) who really browse and read a lot of posts in Steem blockchain if find such a content which has not earned any income but that has great content and really valuable to the community, in that case, the readers can directly send SNAX token to that Steem user. That is where the SNAX token can really serve a genuine use-case. The author on the other side may feel motivated when he finds some gift in his wallet in the form of SNAX token from the readers. That can really boost the enthusiasm of the author.
It is very well known that the influencing part in Steem blockchain is the Steem power and to have more influence means to stake more STEEM. But it is also true that Steem power is like a locked in contract which can be withdrawn in 13 equal installments. Unless someone has really some specific and long terms target, one may not like the idea of staking and locking the STEEM. Some of the people really love liquid crypto assets all the time. So there may be a segment of users who are genuine investors in crypto but they do not prefer any locking of their crypto assets and such people may not have any significant SP in their Steem account. But they may be good readers in Steem blockchain and they may also be very keen to reward or tip off the genuine bloggers. But as such people don't have SP they can not reward them significantly in the form of upvote and even if they upvote that may seem like dust(owing to less Steem Power).
SNAX token can really solve this issue, one can keep SNAX tokens in liquid form all the time and can at any point of time send a tip to someone as a gesture to support the good work by an author. Further, that is not just limited to Steem blockchain. As Snax can be integrated to Steem, Twitter (and Youtube, Reddit, Instagram, etc in future). The readers from any platform when the read the content of a genuine author can send the tip to the author. Most importantly they don't need to stake any token to reward an author.
It is good to have a mechanism and a payout algorithm. The payout algorithm may vary from platform to platform and these are natural things. But from the end user's perspective, if the reward algorithm is too complex to understand for a naive user, they may shy away to join a platform. So too much complexity is a barrier to entry. If we make things simple, straightforward, then it makes the thing easy for new users to enter an ecosystem. I am saying this in the context of Steem payout algorithm. To be honest, I also took a lot of time to understand fully the concept of 75%/25% author/curator, SP, STEEM, SBD, sometimes the payout is in STEEM+SP and sometimes in SBD+SP and many more things. I am not saying it is bad, it may be wonderful and highly technical. But it is equally a setback when it will be gauged upon the mass adoption.
