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RE: I created a token on steem-engine.com!

in #steem-engine6 years ago

Haha I remember we were talking at the Hevré in Kraków and I was joking around saying I would create a @jeffjagoe coin that I would disperse to people based on their upvotes on my posts..... now @aggroed and @yapabmatt made it way too easy and possible for that to became a reality.... but for now I will stick to issuing STEEM Food Tokens (FOOD) for participants in my weekly restaurant review contest :D

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I remember!

I've also seen your FOOD token, you are early on the list, nice one :)

Still figuring out what to do with mine. Will probably use some engagement metrics but not sure what yet. Can't see them every having any value but what the hell :)

I'll be after some FOOD at some point too ;)

Haha I’m going to write up a little “white paper” at some point and at the end there will be a legal disclaimer where I say they are meant to be of no financial value and are similar to getting a digital sticker... but I guess it’s up to the market to decide what the real value is

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Yeah. I read this in the steem-engine discord:

.. Token Value * Supply of Token = Amount of Goods and Services

... you can manipulate supply numbers over time by creating the token, which doesn't immediately issue any, only issuing a small amount to start and issuing more over time. This is a strategy you can us if you'd like the token price to appreciate. In this case, release new tokens slower than you gain new products and services and the token should in theory go up in value.

So it seems that the strategy is to provide a service. Well at the moment, I'll be the one issuing tokens and providing the service, so I'm not sure exactly how it works really :)

Good luck, if you learn anything that could be useful then let me know.

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