Hello everyone, yet another impromptu post about something that stumbled on my mind as I sit here awaiting my melatonin levels to allow me to fall asleep. In case you weren't aware, I kind of write most of my posts in one go. Some times I leave certain keywords in a small notepad to remind me to pick a topic up to make the post whole and I often also reread my texts before I hit post and for some reason still reread it again after I have posted. Point being I don't take a lot of time into writing and I kind of like it that way. Doesn't mean I don't appreciate those who put a lot more time into their posts, formatting, researching, finding the perfect images to fit into the post, some times original images as well, etc and I do curate it accordingly. I just personally like to get it out and then focus on other things like curating and engaging with the comment section while slowly moving into my other activities within and around Hive.
Okay, before I side-track which is usually the one side-effect of my freewriting let me get to the point of my post. Staking!
When staking? Can I delegate my POSH/GOSH? When passive rewards?
No to most of that, we haven't enabled the staking contract on the POSH token on hive-engine, and it's not just cause that'd cost another 100 BEE tokens (I think), but we didn't see a point in staking inflation. Why should people who stake or potentially lock up their tokens get free rewards compared to those holding them liquid?
I mean, I get why those doing it with Hive should and pretty much deserve, you're doing something with your token other than just collecting staking rewards. Curation and influence on the reward pool, resource credits, vests inflation, etc
and that's all great. There's plenty of proof of stake tokens out there, some have lock up periods, for some it takes very little time to unlock and for other it may be instant but if you're not doing anything special with it such as proof of brain that we have here on Hive or governance voting that some others do have then what is the point really?
There's something to be said about security and I do agree with it in terms of Hive power and powerdowns, but if someone manages to get your keys stolen I think your POSH tokens are the least of your concern. It's nice in that case that you have up to 30 days to recover your keys if you still have the previous ones (to lock the hacker who copied your keys out), and if you're actively delegating stake it gives you a few more days to reset it and not let the hacker off with too much. Though I think this 30 day limit makes a 3 month powerdown a bit unnecessary, maybe we should lower powerdown in a way where it takes 30 days to get out the same amount you can now but then the week after that you can get it all liquid at once? Anyway, I'm kind of side-tracking again.
In regards to POSH we've had some other ideas to introduce rather than staking. Considering we currently send payouts out daily, both in Hive regarding comment rewards from sharers and POSH from delegators and sharers depending on how they do with their tweets. It wouldn't be too difficult to scan people's POSH holdings daily and distribute some kind of "staking" rewards in the future. Not that we're mainly going to care about people's holdings, but I think it'd be time to consider that as well.
We've also been considering doing soulbound NFT's, a feature created by @rishi556 for hive-engine.com that would be a great thing for people who've earned a certain achievement within POSH and that we'd send out some passive rewards that way. Combining a lot of things I think people are going to like the additions to POSH even without the staking feature that many seem to ask about but we always tell them it doesn't exist.
For those who've bothered reading through my ramblings this far, here's a sneak peek at what we're planning on adding towards posh rewards in the near future.
- Rewards for holding POSH Pets NFT's, depending on what kind of attributes your NFT has, how many NFT's with rare attributes you have, possibly collaborations with other projects on Hive, there may be "bought back" posh rewards and other tokens to be distributed to NFT holders. This also means that exchanging NFT's between other people makes the rewards change ownership naturally so if you're getting 0.2 POSH daily for your NFT for instance, selling it off will lead to the new owner getting those 0.2 POSH!
With low trading fees of the NFT's and the price of the NFT minting all going towards the @poshtoken account (none to specific person's personal wallet) we're looking forward to see what kind of demand we'll see behind them.
- Soulbound NFT's along with achievements, we're also planning on adding POSH achievements soon, say you have the best tweet of the day or you've collected over 1000 likes on Twitter sharing Hive links, you may earn a soulbound POSH NFT that may get you some passive rewards for life! Soulbound NFT's mean that they can't be traded so they'll be stuck on your account forever, unless you for some reason choose to burn it to get rid of it I guess. :)
- Of course we're also very happy with people who've earned POSH rather than those who've bought them only, so if it's not something we're adding towards achievements you can bet that we may add more passive rewards depending on how much POSH you've earned. This is something we wanna do so that people take POSH more serious and think long term rather than trying to cheat their way into more POSH and get themselves banned. So keep in mind that while we appreciate people growing their #web2 accounts in the name of #hive and to increase its reach, we're not going to take too kindly to people focusing on growing their posh earnings through "lazy" methods such as spamming retweets and likes of other people attempting the same. If you're earning a lot of POSH unfairly you're just taking more POSH from other sharers and at the same time taking value from the reward pool once you trade it into Hive, so you both cheat other earners keeping it genuine and in a way steal from the reward pool since a lot of how POSH is funded comes from there.
Anyway, to get back on topic here at the end for a bit. We have feeless transactions on Hive, let's not limit ourselves to staking, I think we're all pretty accustomed to volatility in crypto lately seeing certain coins with massive marketcaps go up by 50-100% in a few days or a week, if something special were to happen with certain Hive tokens once Hive itself gets some more attention, it's just a bummer to lock people out of taking profits or trying to grow their holdings through trading if things like that occur. I think most of us are also quite experienced by now to not just dump anything in our wallets just cause it's liquid or to be blinded by "crazy APR" if you lock tokens up.
Thanks for reading, what's your take on this? Do you like staking of tokens if it's just for the locking up aspect in and of itself (without PoB)? Aside from security concerns do you see any value to it that I don't?
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I am not really up for the staking as well.
In the different tokenomics I am designing the last months, non of them has the staking and staking is considered just as an incentive to be done in specific moments, according to other marketing activities.
I see passive staking a mere inflation with no actual or real functionality!
So yes, I totally agree with your perspective and I am a happy receiver of POSH tokens
I think the way posh and now gosh work is super interesting, leaving them liquid, we have the freedom to choose what to invest in at a given moment. Therefore, not as a way to take advantage, but as a way to receive for sharing someone's cool post, we receive this "remuneration" that also helps us.
About the tokens and the stake, there is always a doubt, what can we do? Put in a pool, sell, swap or stake? Well, there's no shortage of options, but as you asked, sometimes it doesn't make sense, staking just to have a stronger vote and thus greater rewards. OK, but it would really be nice to have some other use, so I prefer tokens that give us some options to do some other out-of-stake action.
The planned news seems to be very interesting, and for sure the community will like it a lot!
I'm pretty excited about the new features coming. I can't wait to get a few of the NFTs. I'm sure there will be people using bots to have the best tweet of the day, but I think the team will be able to detect them easily, so no problem ;)
For me, not staking the token is not a problem. On the contrary, I think it's a great feature to be able to buy and sell it whenever you want. Of course, if I get my account stolen, my tokens might get stolen, but my tokens will be the last thing I think about at that moment haha.
This post was manually curated by the @vipservice project! Helping to grow Hive one vote at a time 😀
We never enabled staking for the VIP tokens although it was considered. Not necessary though because it just creates another layer of time delay to the tokens when they are unstaked.
Thanks for also providing a manual comment along with the message instead of those who just announce they manually curated something. :P
Of course I like any rewards I can get, but I don't understand all the economics of staking. I get that it takes funds out of circulation, but it needs to add value in some way. Some staked tokens allow me to vote and others to give out tips, but is that more than standard HP can do? I know it's all a big experiment and I'm interested to see where it goes.
I like that in Rising Star we can earn in various ways and you need to hold tokens to get some NFTs, but it does not involve staking. Some of it is more about getting people to spend to reduce inflation. Balancing such an economy is a tricky balancing act.
Dont worry, I usually side track heavy aswell when free writing... It never tends to stick to just one topic! Laughs I'd start with its a wonderfull day and end with why is it raining 😂😂😂
I kinda like the no staking on POSH and GOSH I upped my delegations for a while to boost the gaining of coins gotta make some of those GOSH tokens
Delegations have gone up quite a bit lately, I even added some from a few accounts. The times of easy delegation POSH rewards are long gone it seems, but at the same time that means there'll be more Hive for buy pressure on the token long term!
To tell the truth, I have staked stakable tokens in the past without thinking too much about it, simply because it seemed like a better deal. The only currency I have a clear staking purpose is HIVE. I'm just following the long-standing practice of powering up HIVE.
I need to learn more about POSH and GOSH.
Yeah with Hive it makes sense, both security and that you can use your stake in many ways, I'm mostly against those who just offer "free rewards" in terms of locking up your tokens through staking. Seems a bit pointless that way.
I do think the 13 week powerdown is what will help with adoption for the masses as it is like an extra security feature. I get why so many hate it, but I actually am in the opposite camp. Staking teaches you discipline and there is nothing better than seeing your stake grow as it is like a game within a game if you get my meaning on this.
I think this point I was trying to make here would still retain the current security while removing the need to wait for 3 months in total: https://peakd.com/hive-167922/@acidyo/re-edicted-rrri4e
I’m honestly meh about staking. I don’t really mind whether a token is stakable or not. There are always alternatives to passive income like dividends and the likes(Or the soul bound NFTS in this case). Not to mention that volatility itself gives you earnings in the traditional way.
Where I do get bothered about staking though is when the unstaking or powerdown period is painfully long. It robs you of opportunities to take quick profits in the heat of pumps, like you mentioned.
Seeing that you spend time and make efforts to add value to the Hive ecosystem means a lot. I'm a big fan of POSH / GOSH tokens. Though both of them are perfect incentives for people to make some noise via Hive content, GOSH represents the unity of the Hive ecosystem for me.
Waiting for all updates on both tokens to support and make returns via their sustainable systems.
Once again, thanks for your contributions man ✌🏼
From my observations, didn't people stake different tokens for numerous reasons. I began staking some tokens of recent because of their front ends, I don't really bother about the rest. I wonder if that's a bad thing.
I guess it's safe to say that it aids general growth
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No not necessarily since I assume most of the tokens you're talking about (which have front-ends) have proof of brain/curation enabled. In that case it's fine, although I would like to see some tokens enable curation without forcing you to lock up your funds while at the same time making sure the same tokens can't be abused by double-voting, etc.
This may take some time but it isn't totally impossible.
Generally, staking doesnt usually work out for the best if you are looking at a long term horizon in crypto projects. Many of them completely rugpull, you miss the window on the price spikes and then you also have the supply dilution factors due to reward schema.
Overall there are few projects that have done staking correctly. Usually its just a gimmick to get people to lock up their tokens so others can sell into the low liquidity pumps it creates.
Hive made me like staking tokens because I realised here that there are more use cases to staking that the traditional method of earning some crazy APR/APY. For me, staking tokens for the sake of earning more tokens is not an enough incentive to do it. Looking forward to soulbound NFTs :)
Posh pets are back😀
Say, is your acidyo dragon(is it a dragon) logo gonna be a pet?
I would love to have one😍
This profile pic is the Pokemon mew in its shiny (rare form) which is the color blue rather than pink and is from some random artist I don't remember the name of anymore. It's also laying on a bubble which isn't always easy to notice.
POSH pets are still on and we're working on making sure they'll be as perfect as they can since they'll be immutable and stay that way forever once they're minted. Also working on some other things regarding it which may take longer for it to be released and hopefully better cause of that.
Now that you mention it, u do see it.
It does have a striking resemblance to Toothless spouse in How to Train your Dragon (the female nightfury).
~ Me (just made it up😂😂)
I guess, I think you shouldn't really overthink on how to make dem perfect, if they're unique and represent posh, well they're gold aren't they?
Dope and marvelously imperfect😀🔥🦊
Oh ye it's not so much that we're stuck on the artwork, although we are changing some things there too, mainly colors.
It's more about it bringing as much value to hive and potential buyers as possible so we're checking that everything available is taken care of so it'll be a project that'll last and give a lot of utilities to users.
I see, aight... I'll wait
One nice thing about timelocks is that it allows accounts to be recovered without incurring losses. I always like the idea of a Power Cooldown where powering down would be like an instant skill in WOW. You can get X% of the money unlocked instantly and then the "skill" goes on CD for a week or whatever. Could even shorten the CD to 1 day.
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I have always liked the 13 week powerdown as a secuirty feature, and I liked your suggestion that we have the option to pay a penalty to power down faster, but also understand that these two asks are the athithasis of each other. I just think options are important in a free community. We could opt out of this ability to pay a fee for a faster powerdown if we feel it's a security issue, and opt in if it's a sn issue we can live with and are willing to take the risk.
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but what if someone copies your keys somehow and gets everything you own in 1 day you happened to be on vacation?
Depends on the amount of unlocks required.
I was coming from the angle of Hive with 13 unlocks total over 13 weeks.
Could even do something like 30 unlocks in 30 days.
I think custom timelocks are going to be a thing one day.
I was thinking more about something that both would keep security the way it's now but also shorten the powerdown.
I.e. 1/13th every week for 4 weeks the way it's now.
After 30 days you can't recover your funds anymore anyway with account recovery
So the 5th week of the regular powerdown would instead get you everything/the rest liquid.
so ~7.7% weekly for the first 4 weeks, then the rest ~70% on the 5th week.
If you've already lost it after 30 days it doesn't make a difference than the hacker gets everything all at once past the point of no return.
This totally makes sense to me. Best of both worlds (speed and security)
One drawback I see is the villain getting richer faster and potentially more powerful faster if they reinvest their loot in Hive. As I'm not sure that ever happened, I'm also not sure that this reluctance is relevant.
Actually, that sounds like a good way to go. What does @blocktrades and the other whales think?
Sounds pretty solid to me honestly.
I never thought about bending the mechanics around the 30 day window to recover accounts.
Seems like the way to go.
This I think is the best suggestion I have seen so far on this topic.
Loved the NFT ideas 😍 Will that work for GOSH too or just for POSH?? Have you thought on creating a swapping pool between GOSH and POSH??
We'll have to see regarding GOSH :)
Same goes towards pools, that combo could be a good idea!
As a newbie, so many things I need to understand about Hive and other technical terms. I need to understand more about what Staking means. :)
Lol been there or rather I am still there 😂😂
hehe, we're in the same boat then.
I believe that staking helps to maintain a more balanced and diversified economy (example pimp, leo, sps, dec, among others.)
Because there are daily trading that the person can "win" in high or low.
And then there's staking, where the person theoretically earns a fixed "percentage" on a variable income, or a "benefit" for believing in the projects he/she is staking, and as it takes a few weeks to redeem/days depending on the project, it brings a security for the market in general.
For example, if all banks had all people wanting to "rescue" their money at the same time, it would probably lead to a financial meltdown.
Congratulations on the great post and reflection!
I think you may have used the worst possible example there, lol.
Thank for your sharing. Your post make me expand of my mind so much. Nice🙂
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staking seems to help for sure. If you are active among token tribes then sure that is going to b helpful.
If you are not active then sure you can delegate the tribe token.
I do stake tokens daily if not possible then sure I do try to do that weekly.
Now I am more in concert with my hive power now. trying to build it slowly.
great post as always, good to see your more often.
have a great day and weekend 😃🙏
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@acidyo is really doing great job. To my understanding, curation is done base on what you've spelt out here: Attractive images, well formatted content, well organized post and other good things that are considered. For me, I agree that sometimes what is deserve of me is what I get on my post. If I wanna reap more it means I must put my effort in my input of content creation which is my focused. Thanks for updating what's going on.
Did you accidentally comment on the wrong post of mine?
Sorry 😔 for missing what I was trying to mean.
Just didn't seem to fit with the topic of this post so wondered if you accidentally replied to the wrong post.
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Just gimme cute pets
At this point I think I still need to read more about staking and locking up of tokens so I don’t look dumbfounded when topics like these are brought up🙈
In some ways I like tokens being locked up, as it discourages new Bees from impulse selling. Many of them tend to sell low, buy high, and these are usually the people who can afford to do so the least.
There's also some temporary security to the price if enough is locked up, but I agree that I would like to be able to take advantage of sudden market changes.
Speaking of staking, I know of one exchange where you collect staking rewards even if you have a sell order open on those coins. I love that!!! It's helped me to confidently collect rewards while flipping coins to grow my holdings :)
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Nothing. It just let out a little wine.
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