RE: New Advertising Payout for SportsTalkSocial.com
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Any ideas where the funds will be used? I am guessing we will sit on it for now but I am guessing we need a proposal before figuring out where these funds should be allocated.
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I'm completely open to how they will get used. It will just come down to whatever proposal(s) that get put forward get to the 51% mark.
I think @chekohler has some great thoughts about their usage in LP. I was thinking of proposing using them as more liquidity rewards for the swap.hive pool itself but adding a second diesel pool with swap.btc and then having @sports-gov add liquidity against swap.btc/SPORTS would be an interesting use as well.
Sounds like a proper model, you won't need to do buy backs and burns then, if you have a HIVE/SPORTS and BTC/SPORTS pool that rewards users then you can simply use the revenue from ads to keep encouraging a bigger pool
The bigger the pool, the more tokens are pulled off your order book, the more tokens pulled off the order book and paired with other tokens, the bigger amount of buys and sells can be executed with less slippage
In theory it should also improve the price with less tokens hitting the market,
What's going to be tougher, though not a hard call right now, is the decision on LP rewards for new pools. Do we split the 1M/year of SPORTS for swap.hive LP between Hive/BTC pools, add additional inflation pools for BTC or take from other areas like content rewards. Right now our inflation looks like, in approximate terms:
8M - Content (4M author / 4M curation)
1M - LP Rewards (swap.hive)
I was originally planning to do 1M for the DAO but after finding the DAO could take on the role of @sportsprojects I think it will have plenty of funds available to it for us to issue on an as needed/desired basis. Any approved projects will still essentially be new coins on the market since they've been locked up before but it won't be coming from newly issued coins.
I've not been in the portal for tribes yet but I imagine a lot of these contracts will be configurable on the fly for future changes. I'm sure there's going to be continuous new features for tribes to take advantage of and tribes will want to be able to adjust as needed. I'd like for us to stay right at that 1B/year area myself but as always will defer any changes to the proposal system.