You are viewing a single comment's thread from:
RE: Experimenting with PALnet - First Impressions
Dear @crimsonclad, @stortebeker
In this case, promoting a post with PAL isn't actually buying upvotes... it's burning those tokens (taking them out of circulation by sending them to null to help reduce supply)
Are those tokens really burned? Seriously? I'm not actually sure how does it work with promoting posts on Steemit.
And one more question: is "PALnet promoted tab" any different from Steemit promoted tab?
Yours
Piotr
Yes~ the promoted tab that you are asking about does indeed burn tokens; PALnet's promotion burns the PAL tokens and not only displays promoted posts on the tab, but interleaves them into other feeds, so the promotion feature is about more about getting seen than it is the return. On Steem front ends, the promotion also burns, but there's little to no use of it these days for a pretty logical reason... why would I burn the Steem to get seen on that tab, when instead I can send the Steem to a bid bot and then actually try to earn it back on the post via the bot vote? Getting seen a lot of the time is a bit more secondary, but because of trails and frontrunners bid bot voted posts may even hit hot or trending as a bonus. It's completely changed the community usage of the system, for better or for worse, because when you look at it that way, it makes sense.
The MinnowSupport community voting account automatically sends a portion of the PAL tokens sent to her to null, and distributes the rest to her delegators. This was specifically done to help a) reduce the supply of PAL, and b) to help distribute the supply of PAL, while c) helping people build Steem without a direct "ROI" gambling style promise. We are hoping to shape the features on PALnet to work in similar ways to Steem, but to help them achieve a different set of results through a different community focus.