How to create a Tribe and what goes into it. A guide for the curious.

in #hive4 months ago

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Ok, so, making a Tribe on Hive-Engine can be a little convoluted. I'm looking into hiring some developers to make a specific tribe onboarding website to focus on this and make it easier. Until then I'm gonna make this post and walk you through it.

Why would I want to make a Tribe?

Have you seen Leo? 1 dev and a little effort over the last year and they've created a multimillion dollar market cap coin. It's unlikely you're doing that well with your day job.

Why don't I just use Hive?

Hive is great, but if Hive moons unless you're one of the top 100 people on the platform it's likely not life/wife changing money to you. If you're a token holder in a Tribe and the Tribe does well then it's far more likely to have a direct benefit to you.

Does this help or hurt Hive?

I think Tribes are overwhelmingly positive for Hive. It's creating all these mini teams focused on bringing people to Hive. Tribes sit on top of Hive and literally post to the Hive blockchain and get rewarded in Hive and other Tribe tokens. It's just helping to give more incentive to bring people here.

What's Hive-Engine?

Hive-Engine is a decentralized layer 2 smart contract platform built on top of Hive with an independent P2P/Witness system operating 35 nodes in a network.

What can Hive-Engine do?

Well, it's a smart contract platform. So, it can make tokens and empower them with various off the shelf, no code, smart contracts. I think we make programmable money.

Which Contracts exist?

Fungible Tokens
Non-Fungible Tokens
Airdrop
Claim Drop
Mining
NFT gamified Mining
Diesel (Liquidity) Pools

Future Contracts

Per Token witness system (pay a fee to people promoting or building the network)
Per Token DAO (public funds from token inflation)
Per Token Proof of Brain (ongoing distribution of tokens through a system of voting posts)

So, What's this have to do with Tribes?

Well, back in the day I got frustrated with the distribution of Steem. I paid a dev to make a clean version of Steem so I could launch my own. The day that it was ready Ned strolled on into Steemspeak Discord and told Fryst that he was going to launch "smart media tokens." These would be tokens that would distribute like Steem could, but that individual users could create, sell, and distribute differently than how Steem got out there.

After waiting a while, a sale, and a chain fork, it was obvious Steemit wasn't going to deliver. So, while talking about Hive-Engine @yabapmatt had the great idea of just building a layer 2 token solution to the problem. So, we hired @holger80 and he built what's affectionately known as Scotbot. It's a tool that can distribute tokens just like Hive distributes them, but it's based on your staked token distribution in addition to rewarding Hive. Now that @eonwarped nailed the witness system for Hive-Engine he's working on Hive-Engine smart contract smart media tokens. No more separate bot and sharing keys. It'll be a smart contract on Hive-Engine.

Not only that, but Eon was the one to figure out how to rewire Condenser to accept Hive-Engine tokens. Condenser is the program that runs steemit.com and hive.blog. Eon forked it, and then got it displaying Hive-Engine token balances instead of Hive token balances and BLAAAMO; Tribes were born.

Wait, what's a tribe?

A Tribe is a website (fork of Condenser) that uses a Hive-Engine token which is distributed by Scotbot to simulate Hive's Proof of Brain Distribution.

Ok, This is a little complicated, but if I make a token, form a tribe, and have some success there's a chance that the few hundred dollars of BEE that I bought can turn into a multi million dollar market cap coin... How do I make one?

Before we get truly started you have to understand there's usually two phases that we have to be concerned with.

  1. Token Launch
  2. Ongoing token distribution

A token launch considers things like:
How many tokens will we issue to start?
How many tokens is the whole thing capped at?
How much of the initial supply will we sell?
How many tokens are for team members?
How many tokens are for bounties?
How many tokens are in reserve?
How many tokens are for founders?
How many tokens are for marketing?
How many tokens are for operations?

For ongoing distribution you want to consider:
How much inflation will this token have?
How much (what percent) of the inflation will go to Proof of Brain?
How much of the inflation will go to staking?
How much of the inflation will go to Liquidity Pools?
How much of the inflation will go to mining?
How much of the inflation will go to a personal/group slush fund?
How much of the inflation will go to a DAO?
How much of the inflation will go to bounties?
How much of the inflation will go to other marketing tools?

Once you have some idea of those kind of things then the next step is to actually go through the steps to make the tokens, turn on the features, get the website functional, and start shilling.

Tribe Creation Process

Ok, this process has 7 steps. If you get stuck find me in Discord: https://discord.gg/whqnzqT

STEP 1. Make a token

https://tribaldex.com/tokens/create

The name, symbol, and max circulating supply can't be changed after you make the token.

The decimal precision, how many decimals will appear after your token, can only increase.

The website can be edited later. It'll be there along with a place to put a square image for the tokens page as well as a brief description of what your token is doing.

Creating a token burns 100 BEE.

A note about Securities

Hive-Engine is an American site. It's a company and regulated by US Law. There are carve outs for decentralized exchanges operating in the USA, but securities are not allowed.

What makes something a security is up in the air. You need to talk to an attorney about it. Google the Howey test and start reading up on this stuff. The main question though is are you offering profits of your business to others through this token. If the answer is yes you're still able to list the token on Hive-Engine backend, but it will be removed by the Hive-Engine.com front end. We don't have a license to trade securities. We're slowly working on opt in KYC and accredidation forms so that you can trade privately held securities, but at the moment that's not allowed.

Anyway, make sure you're not offering profits of your business to others as a starting point.

STEP 2. Issue one token to yourself here: https://tribaldex.com/tokens/manage

I know it's a little silly. I should make some edits to the UI, but this is the step for now.

STEP 3. While here: https://tribaldex.com/tokens/manage click the button on the right that says "enable staking"

When you do this it will prompt you to ask how long and in how many events would you like the unstaking to be? Generally people want their posts to be rewarded for 1 week, and it takes 5 days to fully recharge your power. So, if you want 1 week for post rewards and 5 days for recharge it's frequent that people make the unstaking process 1 week. You could technically do 5 days as the shortest amount of time, but I'm recommending weekly here.

Steem/Hive unstake in 91 days over 13 weeks. Some people argue this is too long. I have generally chosen 6-7 weeks in 6 or 7 transactions, but it's up to you. You could do 7 days in 1 transaction if you wanted, but that would be the minimum I would suggest for people (unless your window is shorter than 7 days for post payout).

Enabling the ability for tokens to stake costs 1000 BEE.

STEP 4 Enable Delegation

While you're still on this website: https://tribaldex.com/tokens/manage you'll now see a new button for enable delegation.

Delegation has a pop up like staking. How long do you want it to take to undelegate. The same restriction is here that there was for unstaking. You want to make sure that the undelegation time is longer or equal to the time it takes to recharge the power of your token. That means the minimum undelegation time is 5 days. I would encourage a week.

You must burn 1000 BEE to enable a token to stake.

STEP 5: Scotbot

If you remember back up the post we use a bot to distribute your token. In the future you may or may not choose to use the bot as we switch to the smart contract version, but this is your only choice for now.

To use the bot you have to give it a variety of permissions. If you let it then it will issue tokens. If you don't want that then you have to make sure there's a steady supply of tokens in a pool on an account it does have access to or it won't be able to distribute.

So, to start when you're logged into the account with the token you have to grant the account @tokendistributor the posting and active authority. That takes two separate clicks and two approvals through Hive Keychain.

Step 6. Settings

This is the hardest part of making a Tribe. There are a lot of settings and a bunch of them are fairly technical. The PAL tribe has been used as a guideline for many so I'll just drop what we did with that token here.

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Enabling Scotbot costs 1000 BEE. Editing it later costs 100 BEE.

Optional Stuff

Nitrous: Creating a website

The Tribe itself is actually optional. The forked version of condenser we call Nitrous.
So, if you want your own website then you want "Nitrous." You can do the rewards distribution just through tags. So, technically this is optional. However, most people that go this far go ahead and create their Tribe token.

For Nitrous you'll need a domain name, a rectangular (long and short) logo, and a square logo. We spin up a server and you point your domain to it.

1000 BEE Cost

Proof of Stake:

If you want to provide extra reason to stake your Tribe token then you may want to involve Proof of Stake. Proof of Stake is a way to slowly dilute people that aren't staking the token. If you own the token and have it staked your earn more of the token. If you own the token but don't stake it then you don't receive token inflation and your stake is diluted over time.

1000 BEE Cost

Miners

You may want your token to be minable. There's now a couple of ways to do this. If you want it fairly simple and straight forward you setup 1 or two new tokens that have staking and scotbot enabled. Now we can setup a reward pool from your inflation such that owning and staking Token A will provide you with inflation from Token B. You can setup more than 1 miner so that there's an incentive to get early more powerful miners.

These miners cost

You can also do this through NFTs and even gamify the process there.

Message in Discord for pricing

Liquidity Pools aka Diesel Pools

You can create pools that trade your tribe token vs other tokens. In the near future you can setup contracts to reward people that provide liquidity.

1000 BEE creation fee for the Diesel Pool contract
Separate fee for the ongoing rewards

Custom Work

If you want custom features we can build them. The price we charge for Dev time is $150/hr.

Airdrops and Claimdrops

These are possible, but we're still building front end tools for this. If you'd like help please contact us in Discord.

More Contracts Coming

As discussed there are additional smart contracts that will be made available that Tribe owners can adopt and use for their tokens. The goal is to make the off the shelf options for Tribe owners powerful community building tools.

Tribe website redesign

We'll be starting our Tribe website redesign soon. We want to mix in NFTs, your own dex, and a few other tools in there.

Whew, that was long...

Anyway, if you made it here I'm assuming you're considering making a Tribe. If you have questions come find me in Discord. There's new tribes that are starting to pop up and I think with the additional features it's gonna be exceptionally awesome. Gimme a buzz.

If you like what we're doing support our work

Buy BEE/WORKERBEE/FARMFARMER/MYTHICALFARM tokens
Start a tribe
Shill projects built here
vote our devs for Hive and Hive-Engine witnesses
Donate dev time or money

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We talked a while ago about adding ads contract into the tribe. That what we would like to do in a Aeneas.Blog

Any update regarding this?

Is that possible we see Tribes in the Leofinance design style?

H-E is SMT. What you need to do next is talk to wordpress and wix, if they could integrate reward distribution mechanism (via plugin? ) then web 3.0 will be born

I've heard of some Wordpress plugins that allowed people to post onto Steemit from their Wordpress blog. That was back before Hive Blog. Are you talking about something like that or something more integrated than that, something more sophisticated than a simple posting plugin?

Something like toolbar under every post, so wordpress website owner would create own token, readers would buy it and vote on posts, just like it is on tribes now. This way instead of 1 (condenser), H-E would have 1000's of different frontends (wordpress templates)

That would be cool.

Too complicated for the average user, but interesting for programmers and techies.

Funny, I was just thinking about looking into this. What would you say is the minimum investment capital one should have in order to stand up a token vs a tribe...or are those terms interchangeable?

What happens if h-e just disappears with people's tokens like s-e has?

H-E is not decentralized I believe so they can't do that? Or Am I wrong?

No idea. I hope it's not possible again.

 4 months ago 

a token is 100 bee, or $30. A distributing token can be anywhere from $100 + a free bot service to a thousand dollars of stuff.

You probably want a team to do this with. It can be a grind and having a few folks around you can help.

If I don't have a team, is that a service that Hive-engine offers?

 4 months ago 

lol, no. Find a couple of friends, give them some tokens, and meet every week. Pimpin' ain't easy.

ok, I get it now. It's just that...

I have no friends.
😟

Just kidding. I got like 2. We can do this.

I appreciate your answers. I actually remember a twitter conversation we had a while ago. I'm pretty sure it was before Steemmonsters. I asked you about what ended up being NFTs. You mentioned that you were working on something at the time. It's cool to see how these ideas have blossomed.

We have arrived. Finally. lol

Can a token earn inflation of it is not tied to a tribe?

Is a security the same as a share as seen in the stock market? Better question than that would be is Steem Power (SP) or Hive Power (HP) considered to be like a security or a share or a stake?


I'm asking because I've heard people make comparisons between these terms before and I've especially heard the term "Stake" used to describe SP and HP.


And I've always thought that stake was similar to securities and shares. I know just because something is similar does not mean they're the same thing.


But it just makes me wonder as we have HP in our wallet, as the HBD and liquid Hive coins increase in value, that then increases the HP value and the overall value of your wallet.


That to me parallels how when Disney increases in value, your individual share increases in value as well. So, is a stock market share or security just slightly different than liquid Hive, HBD, and especially HP?


I may be considering making my own tokens and tribes someday. I feel like I have a lot of research I need to do. I probably wouldn't want to make a coin that was like a security.


But I just want to make sure I know how to distinguish between what might be a security and whichever things are currently not considered securities according to current laws in America.

Perhaps you can read this post for more info about Howeys test for securities...

https://www.findlaw.com/consumer/securities-law/what-is-the-howey-test.html

But does it make a correlation with how HP works?

No it doesnt. Hive is not a security in my own opinion.

I don't disagree. John McAfee was talking about Bitcoin is not a security. After watching the videos where he explained it, I adopted his views on Bitcoin. I would imagine that Hive and many if not all true cryptocurrencies either are or could have been not a security like Bitcoin is not.


But my question is not in regards to what cryptocurrencies are not. We can say that they are not securities. Some or most of them probably are not actually securities.


But my question is in if the law in the United States as of right now view Bitcoin, Hive, and other cryptocurrencies, as securities, shares, money, assets, items that could be taxed, etc.


Many times, laws can be not right. So, if they were to say Bitcoin or Hive was a security or something, they would most likely be inaccurate. But I still want to know what the laws are even if the laws are wrong. Many laws can be wrong. I just want to know ahead of time what I'm getting myself into as life goes on.

Okay i probably dont have enough knowledge to answer this question. But last time I checked, in U.S, Bitcoin and Ethereum are not securities, this is what influences my judgement in saying Hive is not a security based on the grounds that they are decentralized with no person or company in control of them. I guess theres more to it tho...

We will find out soon I think. I'm following the SEC vs Ripple lawsuit. I believe this will provide a lot of clarity in the U.S.

Cannot wait.

This is really great and helpful! thanks for writing this up!
To others here, this is definitely something i want to do. I don't have the tech knowledge yet, but if anyone wants to collab on a tribe I'm interested. I have ideas and graphic design skills and money to contribute if working with the right person/people with the right idea :D

I have an idea @junkfeathers, that would encourage people to bring their best content on here. What do you think?

Yeah is discord best for you to chat? you can hit me up there

Yep I'll hit you up

This is fantastic, I have at least two token projects that I am working on for the moment. The most recent thing is the Canada community, and we are discussing what kind of token to launch. Thanks for this detailed guide, I posted the link and also tagged you in that recent post. Keep up the great work!

A Canada community and coin sounds like a great idea. Speaking of good ideas and all, that reminds me of another idea somebody had. I've heard a man name Steele talk about an idea of having county-level cryptocurrencies.

your token project is it on Hive? are you building a Tribe?

I had no idea that it was so complicated to build on the Hive Blockchain (or any platform for that matter). Really interesting piece that makes it known how much work really goes into a site like this!

Posted Using LeoFinance Beta

Thank you for this, do you know what was the weirdest thing today I was thinking “damn I’m going to have to ask one of the olders to help set up a tribe” - this is so concise and when it’s all written out like this it makes it seem so much more attainable! I think will start with the community project first and really build that then work towards this goal would do it now if I had the fundage. Also incredibly helpful to understand just how bad it was before 🥴

I've been researching how to do this for hours, and I see it as a chance for this article to be published 1 hour ago. I read it with pleasure and learned everything I was curious about. Thank you very much for the information you provide.
Sedatabase is coming soon ... :)

Are diesel pools always a thing or is that recent??

This is amazing and just want i have been looking for thank you so much :D i'm sure i will be contacting you very soon :)

Question: was leo built with thus infra?

Thank you for the indepth explanation, will bookmark this one. Want to sit back and relax to be able to take this in.

Will it be possible to add things like 'triggers' to Hive-engine? Like automated buy and sell options I mean.

Trigger A: sell 1000 Tokens BZZZZ at 0.00348 Margin 1.97 percent
Trigger B: buy 1000 Tokens BZZZZ at 0.00236 Margin 2.0 percent

Set Duration 30 days. [OK]

You could offer this with a percentage. Hive-engine gets 2 percent for the automation service. Trigger minimum set at 'n' to further prevent it from flooding the system.

And another thing I thought of: conditional markets. Tokens becoming a little bit smarter. Maybe an auction like smart-contract. Could be used for all kinds of products and services, but also for Tokens and NFTs.

Instead of the lowest offer, only a raise in the next sell offer would get to the top. Sold to the highest bid, after a certain amount of time.

And maybe add a smart limiter, like only a sell offer can be made if the seller owns at least a certain amount of the Token.

Anyway, just some thoughts triggered by the Hive-engine. Have a great one!

Thanks for posting!

Would be curious to compare the settings of the various tribes.... is that information publicly available or easily accessible?

Great you think this would be good to work with the dapp I want to create Beatzchain I would like to get a hip hop community on Hive and bring it up to something where they can post content producers can sell beats and artists can use marketing tools. Or do you think I shouldn't have to bother using a token.

 4 months ago 

100% need your own token.

finally, a post that how to create your own token,tribe! I have read it all, understood less than half and bookmarked it!!! :P

Posted Using LeoFinance Beta

Nice bro!
I was searching for this.
My question is that I have seen many tokens has an intial value upto 1 cent. How they do it? What it is backed up?

Posted Using LeoFinance Beta

Am glad you have this great idea, hope there is authentication for it

Really interesting stuff, will bookmark it!

Quote "Life/wife changing money"

Not going to lie I found this line very funny. Great post, might just have to see what I can do 😉

Thanks for the nice article, I'm looking forward to learning more about this in creating my own project.

OK, I think you inspired me, you made it look so easy!!!

Just wait the skatehive token, community and tribe will shake this blockchain so damn hard !

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