in #hive-1679223 months ago

One of the most talked about issues on Hive is effective distribution--how best do we allocate scarce resources (hive) amongst active users on the network. Content creation has been the driving vehicle used to distribute the hive token and depending on the camp you belong to, this is either an efficient or wasteful means of allocating resources.

I am one of the many people who believe in SocialFi, so I support the reward system on Hive, nevertheless, I also think it is relatively inefficient. There isn't a corresponding exchange of value. It is gamed to some degree and doesn't reflect the quality of time and content put into the system and I blame hive Dapps for this problem.

For Hive to become a more effective Blockchain, Hive Social Dapps need to be efficient and creative with their tokenomics. Unfortunately, Hive dapps haven't figured out how to monetise these things to reduce their dependence on the reward pool, thus giving out more value than is received from their users via their content and engagement.

My simple solution to this problem (or an alternative), alongside running a socialfi platform is to have a task based platform/dapp, where a sizable part of hive inflation is allocated to people who perform certain tasks and provide verifiable results. This way stakeholders know that hive is going into courses that directly benefit the chain. Think of as Hive development Fund, but for (promotional) tasks.

Back in the day, there was a dapp called steemGiG, where people perform certain tasks and earn upvotes or tokens. This was years before Zealy, and they were successful in the short run. I can only imagine what they could have become if they persisted. Nevertheless, a platform like steemGiG would be valuable to the Hive ecosystem.

The model of allocating Hive's inflation to tasks performed on or off chain for the benefit of the Blockchain can be coded into the layer one (although not necessarily) it will help stakeholders get more value for their money.
These tasks can be suggested and voted upon by the community and the top ranking tasks get more allocation from the reward pool and dislodge those tasks that do not meet the threshold.

The other option would be to have a dapp like stemGiG on hive again. This kind of platform will have both internal and external appeal. Those who want to leverage the hive community can bring their project campaign to the Blockchain, buy hive or the dapp token and distribute to the active participants. So it can be as popular as Zealy if implemented properly.

The major benefit of having a task based reward model is that it removes any gray area or quarrel around the subjectivity of the value of content. For instance, with content creation there are many gray areas and many do not see eye-to-eye when it comes to what constitutes a good post. With tasks, the objectives are set and the participants know what it is they are supposed to achieve.

Also, those who do not want to engage in the speculative game of posting and waiting to be upvoting (because there are no real metrics on hive to gauge the quality of a post), can simply perform these tasks and earn rewards. This is a better implementation of the proof-of-work concept.

What are your thoughts on the topic? Share with me in the comment section

creator: ahmadmanga

Posted Using InLeo Alpha


Well, it might be a step in the right direction.
As much as it'll help assure rewards for value contributed, I still think the natural tendency to get discovered should still be allowed. Once it becomes a pure "input = output" thing, value naturally fizzles out over time. It becomes a game of who can finish up more tasks "supposedly adding value".

I agree...a healthy mix wouldn't be least until we have the numbers in our favor to run a proper social media platform.

Although there are some inefficiencies, I also like SocialFi Trust and Hive Rewards a lot. Which is really awesome.

yeah... there is nothing wrong with the way things are setup per. I just think it can improve.