LEOFINANCE.IO: Modelling as a Social Community for rewarding Engagement with Crypto

in LeoFinance2 months ago

I have been a part of Steem since January 2018 and later metamorphosed into Hive blockchain, there has been a challenge of retaining new users. This was so because most new users who are joining as content creators have no Power, thus, may have earn $0.00 as payout for weeks. I was in that shoe a few weeks after joining SteemHive. The introduction post earned some few cents and afterwards, the following seven to 12 posts were paying out as $0.02 or less.

image.png
source

That was enough discouragements to back-out. In fact, many had acked out for that single reason. I t took several weeks of dedication and engagement to begin to earn the attention of some whale curators then on my blog. A user like @Surpassinggoogle was very helpful then. What kept me going was be resolve to give my est to this chain and make the most of my time. Most importantly, I was driven to learn than earn.

However, as I grew on the chain and began to help onboard new user, I was able to guide them well to earn as much as $2 to $20 on their introductory blogs. With the creation of Hive tribes, onboarding new users has become more easier for me and I'm able to incentivice them with my second layer tokens till they settle in their choice niche in the community.

With the development of bots and auto curation functions, most new users got lost as some curators would follow auto trails to maximize their curation earnings. Thanks to the @LeoFinance community that changed the narrative by introducing the flat curation for LEO token.

As we stated in the official announcement about the linear curation curve, this is intended to level the playing field for manual and auto curation. It does not incentivize manual curation higher than auto curation, but rather removes the disincentive to manual curators. Under the old curation system, manual curators actually sacrificed rewards to auto curation bots who voted just a few seconds after a post was published. - source

While the intent of the introduction of the flat curation curve was to help encourage manual curation of contents while removing the disincentive to manual curators through the early voting of auto curators, my essence of my writing is pointing out the effect of flat curation on engagement of #leofinance contents.

FLAT Curation Curve, a Catalyst for Improved Engagement on Hive Communities

We all know the import of engagement when it comes to social media. Hive was lacking on this for the past years of its existence but there seems to be a turn around in the Leofinance community following the introduction of flat curation curve. In this new model of curation, a vote of 1 LEO on a native leofinance content, that is, a content (post and comment) created via https://leofinance.io/ would yield exactly a 50% reward to the author and 50% reward to the curator.

With this development, a curator is not afraid to drop a valued vote on a content irrespective of age as long it is within the payout window. Moreover, users like @Taskmaster4450le and @Onealfa.leo have dedicated their stakes to curating comments without fear of losing rewards. Below is a screenshot of comments on a post earning some tangible amount of LEO

image.png

It is imperative that there would be improved engagement in the LeoFinance community as stakeholders can give out rewards without fear of losing their 50% curation returns. Last week, close to 1k comments were recorded from the leofinance interface according to leostats. I am seeing a sharp increase this week as more users are getting involved. I'll be glad to number among the top commenters this week.

Flat curation curve is the new normal to community growth. While HIVE curation may still remain as it is, second layer tribes could take LeoFinance.io as an example to boost engagement in their communities.


Which communities do you think should adopt the flat curation protocol next?

Posted Using LeoFinance Beta

Sort:  

I remember when I first joined the blockchain which is know as steem blockchain then, I almost gave up . I received a huge upvotes from a whale and that motivate me to keep going till then and as you can see me now. Most times it is discouraging but one must keep motivated to keep going. So much new users have left the platform

Once you go LeoFinance.io, you never go back

Posted Using LeoFinance Beta

Hmm that is not how the saying goes I dont beleive but we will go with it.

Posted Using LeoFinance Beta

It can turns out to be true you know

Hmmm. A tempting statement you said which I am realising to be true

That is why the communities are so important. Other tokens can motivate users on hive and keep them going. Whether it be LEO, SPORTS, or whatever, when one is receiving upvotes from the community, it all tends to add up.

Posted Using LeoFinance Beta

You are right . Perhaps people who left didn't realise that

I add, most users are earning more $$$ worth of tokens cumulatively than HIVE on daily, weekly and monthly basis. I am a testimonial to that.

Posted Using LeoFinance Beta

yes most new users without power left this platform. Mentoring and supporting is very important

Posted Using LeoFinance Beta

You are right and many users was not Able to get that so they leave

Yeah, if you have some of them within your reach, call-out to them and encourage them to start engagement through the communities. I am aware that alongside LEO, other communities are also rewarding engagement hugely - CTP, SPORTS, LIST.

Posted Using LeoFinance Beta

This is the very reason I penned this post. With LeoFinance, the new users can have a footing via comments earnings which can accumulate to big amounts on daily basis.

Posted Using LeoFinance Beta

I am hoping that chart is passe. It is old news.

I look forward to the new one released this week.

We should certainly top the 900 comment level in a day.

Posted Using LeoFinance Beta

We should certainly top the 900 comment level in a day

I hope this is possible. Hivedapps presently tracks over 200 daily users on LeoFinance. I assume that each of the user makes an average of 5 comments daily, then 1k comments is feasible daily. I'm averaging around 15 daily. Would be glad to the days I used to do over 50 comments daily. Gradually...

Posted Using LeoFinance Beta

The introduce yourself post are your presentations card and let you present to the pool, but Right now is the lucky thing, well the comment give us the form of grow up slowly but sure that we are share and get feed back from the comunity members.

Posted Using LeoFinance Beta

Comments allow people to see you and what you are doing.

It is the interaction on a repeated basis that makes one stand out. It is hard to remember someone from a username and a profile picture.

Posted Using LeoFinance Beta

Comments go a long way to tell how much value you can truly contribute to a post. Some users would definitely follow your account the time they read your comment under their post and it makes sense to them. The engagement must be full of value.

Posted Using LeoFinance Beta

Yes I have to agree with this approach of moving to linear as it means that you can give a vote without fear of being penalised for being "late", and therefore by using your vote manually and getting 50/50, it then encourages you to get involved and engage with the original post. At least it has had that effect on me. I'm pretty much using LeoFinance on my phone and PC all the time now and very occasionally look back on PeakD for other content.

Also agree that the bigger accounts are a lot more engaged on LEO than they were on the main chain content and are scouring for content/comments and all users to support which is also great to see. Particularly important for onboarding and retention - it's awesome!

Posted Using LeoFinance Beta

I'm pretty much using LeoFinance on my phone and PC all the time now and very occasionally look back on PeakD for other content.

Very soon, you could write to other communities and also interact with posts from other community via the LeoFinance interface. There's something on build.

Particularly important for onboarding and retention
LeoFinance is covering everything crypto. In fact, everybody in the crypto space should use LeoFinance.

Posted Using LeoFinance Beta

Wow, that's a great development on being able to post to other communities too as I will definitely use it for my music in that case! Thanks for the information!

Yeah I agree that people should start using LeoFinance, although the trending page does need to have a bit more variation, seems to just be posts about LEO these days?

Posted Using LeoFinance Beta

With the engagement we're seeing on LeoFinance, I don't see why other tribes don't follow suit. There may be an exception or two I'm unaware of, but it seems to be doing a lot of good. 🦁

Posted Using LeoFinance Beta