Why HF21 Is Good For The HoboDAO!
Why HF21 Is Good For The HoboDAO!
Hardfork 21 has made some significant changes to the Steem blockchain and your personal experience as a user. Author rewards have been reduced and even the total amount of rewards available to content for both curators and authors has been reduced in support of a fundraising feature allowing for projects to vie for economic support.
Perhaps the largest change, however, is the new 20 STEEM curation threshold set on posts and comments. This threshold is designed to prevent whales and really anyone from spamming the blockchain with posts and comments to self-vote. Now, all posts and comments below 20 STEEM will experience a reward penalty and every post and comment above 20 STEEM will receive a reward bonus.
You might find this to be a frustrating turn of events. It does now require people to work harder at building a following and causing their content to become viral throughout Steem. In this new environment, resteems might become increasingly valuable and crucial to the success of a post, and the amount of authors will likely shrink as receiving rewards through curation becomes more convenient.
Talent is essential in the world of this #newsteem, and this is good for the HoboDAO project. From the beginning of our project, the HoboDAO was intended to reward hard working, talented content producers through a daily curation contest. Our community's pooled Steem Power and coordinated active participants provide an avenue for quality content producers to build their reputation.
The Hobo Fund will reward every new follower (having 50+ SP in their accounts) with 50 HBO each starting from today. We will build up our followers so that the contestants can have their content shown to many people, real people and not just bots. Many accounts have 10,000+ followers, but often times a large amount of those followers are simply bot accounts. The HoboDAO will be accumulating a real audience and will be putting before these curators top quality work via our contest submission system.
On top of that, our winning contestants for our daily top 5 will receive rewards from the HoboDAO. The first 33 contests we have will give out these token and curation prizes:
1st Place - 100% Upvote / 5000 HBO / 100 NGA / 100 NATRL / Trendo Upvote (Possibly more tokens...)
2nd Place - 100% Upvote / 2500 HBO / 80 NGA / 80 NATRL / Trendo Upvote (Possibly more tokens...)
3rd Place - 100% Upvote / 1250 HBO / 60 NGA / 60 NATRL / Trendo Upvote (Possibly more tokens...)
4th Place - 100% Upvote / 625 HBO / 40 NGA / 40 NATRL / Trendo Upvote (Possibly more tokens...)
5th Place - 100% Upvote / 312 HBO / 20 NGA / 20 NATRL / Trendo Upvote (Possibly more tokens...)
Our sustainable model will allow us to regularly reward the top five contestant submissions with a 100% upvote from the HoboDAO and Hobo token rewards. Here are the sustainable rewards for our daily top 5 submissions:
1st Place - 100% Upvote / 5000 HBO / + Potential Tag Specific Upvotes
2nd Place - 100% Upvote / 2500 HBO / + Potential Tag Specific Upvotes
3rd Place - 100% Upvote / 1250 HBO / + Potential Tag Specific Upvotes
4th Place - 100% Upvote / 625 HBO / + Potential Tag Specific Upvotes
5th Place - 100% Upvote / 312 HBO / + Potential Tag Specific Upvotes
The HoboDAO reward system is powered by its partnerships with other community tokens such as Engage, Natural Products, Trendo and others. It is also powered by its many delegators known in the HoboDAO system as Delegation Miners that mine rewards in the form of Hobo tokens by delegating to the HoboDAO main curation account: @hobo.media.
Why Care About Owning HBO tokens?
The daily contest and reward system operated by the HoboDAO is fueled by the utility token HBO, which is used to satisfy submission fees for entering your content or someone else's content that has at least 3 days remaining for curation (upvoting) the content.
The submission fee for entering a daily contest is 500 HBO and it will be sent to the Steem account called @hobodao. Sending tokens to this account is similar to burning tokens because this account requires all Casters, Auditors and Senators to agree and sign for tokens to be transferred out of the account.
The @hobodao account will continue to accumulate the submission fees and will not be able to release these tokens without a signature from all members of the HoboDAO. While it is possible that one day all members of the HoboDAO could in theory coordinate to redistribute the spent tokens, it is highly unlikely for that level of coordination to occur. This means that the HBO token will be a utility token with a deflationary state.
The main curating account @hobo.media will have its Steem Power locked up with the requirement of a majority of its Senators having to agree in order for a power down to occur. This means that as the @hobo.media account continues to curate content, its upvote value will only continue to grow stronger as the delegator pool grows and curation rewards accumulate.
The more Steem Power this community managed account accumulates the more in demand the HBO token will become as more and more people seek to submit work to the HoboDAO daily contest system.
How To Obtain HBO?
You can mine HBO tokens! There is a growing number of people participating in the HoboDAO mining process on the Steem blockchain. But, what exactly is the mining system for the HoboDAO? Let's get into how you can mine Hobo tokens and why some people are attracted to doing it.
The HoboDAO has a unique reward system called Delegation Mining. Currently, delegators are being rewarded with 500 Hobo tokens for every 5 SP delegated, but on 9/01/2019 rewards will be 250 HBO every 5 SP delegated, and continue to halve again the following month.
Don't have a lot of SP? Not a problem, with as little as 5 SP delegated to the HoboDAO (@hobo.media) you can join in and start being rewarded in HBO tokens despite having a small amount of SP.
Become A Hobo token Miner:
Delegate 5 SP to HoboDCC HERE (250 HBO Month Reward for 9/2019)
Delegate 50 SP to HoboDCC HERE (2500 HBO Month Reward for 9/2019)
Delegate 100 SP to HoboDCC HERE (5000 HBO Month Reward for 9/2019)
Delegate 200 SP to HoboDCC HERE (10000 HBO Month Reward for 9/2019)
Delegate 500 SP to HoboDCC HERE (25000 HBO Month Reward for 9/2019)