Hey NaturalProducts Community, You Asked and We Listened...
We had a great post from NaturalProducts member @botefarm and we wanted to respond. We value feedback and suggestions. Some feedback we can do something about. In this case we did.
Here's a link to @botefarm's original post- A Call To The @naturalproducts Team.
Essentially, if we paraphrase, what the post is saying boils down to getting a return on holding NATRL as well as the return on curation rewards. We'll attempt to address it in two ways; functionally through the system and systematically through the community.
Let's address the easy part, functionality.
When we first initialized the settings for the token we decided to establish a 60% reward for authors and a 40% reward for curation. We thought that those settings would help to incentivize authors to create posts through the front end using the #naturalproducts tag. We've now moved the author/curation reward to 50/50. That moves the needle to the middle for creating posts and curating posts.
More on functionality - Proof of Stake(POS)
We've also just had Proof of Stake(POS) initialized on the token so that you can now earn NARTL tokens by staking NATRL tokens. It's a simple way to earn a return. When you post through the front end the default rewards pays-out in staked tokens. Keep powering up more NATRL tokens to earn a portion of the POS pool. We've set it so that 10% of the daily rewards pool is set aside for paying out on Proof of Stake.
From the community
We're looking to the community for your effort in the following:
- curation
- commenting
- voting
- posting
Continued engagement and upvotes. That's all. That's what drives the token economy. Burning tokens also helps to remove them from circulation. Use that "Promote" button to help boost a post and burn tokens at the same time. We take those tokens and add to them to burn. It's all to help.
We'll continue to run contests and reward community members for their efforts and contributions. So keep engaged, stake those tokens, comment and invite new members to post on #naturalproducts.
You can also join the curation trail at https://beta.steemvoter.com/explore/guild/naturalproducts
We hope that answers your call!
Keep Connecting Naturally
Become a supporter
Become a supporter. We're looking for like-minded individuals to help support the #naturalproducts front-end project through delegations. Your delegations will help to support contributors and the further development of the front-end. Your support will also allow us to help ensure that the quality of content is high and consistent with the expectations of the community and industry and that posts are rewarded.
You can use these custom links to delegate Steem to us:
30SP, 50SP, 100SP, 250SP, 500SP, 1000SP
Join us in #naturalproducts on https://www.naturalproducts.today!
The NATRL token is a utility token specific to the NaturalProducts.Today site (based on Steem) used for curation, rewards, and contest promotion. The token price is market-driven and may never have any value.
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Thanks for this post!
👍
And for pete sake buy NATRL... if you buy it we'll burn the equivalent !!! And if you stake it you will start to earn. Just mention us and how much you bought and well add it to the burn notice and give you a hearty mention!
What time frame are you considering for the buys? And do you mean that one need to make a post to earn for the staked tokens (10% PoS) or just staking is enough?
I'd say that splitting rewards in 50-50 ratio is a little late amendment. Initially, I had bought NATRL tokens under the impression that it's 50-50 like all other tribes. But when I discovered that it's 60-40 against curators and there is 10% beneficiary reward to tribe operators, I unstaked all my tokens. However, I ended up buying and staking more than that due to falling prices. Although I was expecting a drop in prices as reward structure was not in the best interest of investors, I didn't expected such a drastic fall. But prices are doomed to slash when investor interest is not taken care of and other tribes are comparatively more rewarding. After all, it's the investors that give value to any token, not the product or quality of posts. I had a hunch that sooner or later, such measures will be taken if this tribe wants to be comeptitive enough.
It's rather strange that some one had to point out such an obvious thing to you but I appreciate that you took note of it and appropriated the suggestions offered. Hope more measure will be taken to make the NATL token and tribe stronger.
Thanks for the comment... we had made a conscious decision on the rewards and were upfront in our launch post that it was temporary and would be reviewed...
Based on the feedback we changed it, sooner than we had thought we would. The beneficiary is set so that we can continue to add features and cover some minimal expenses.
Since launching, because of that beneficiary, we have been able to add the POS reward to benefit community members that stake their tokens. Allowing us to add that feature was a direct result of that.
We are looking towards the long term ... coming and going, ups and downs are to be expected over the short term.
We will contribute back rewards on purchases going forward.
I don't know what justification you found reasonable to effect this change ...but wait. I see that author reward percentage is still unchanged and set to 60%!
IMO, it's not the best use of beneficiary rewards. You could have set it at the outset too. 10% POS reward isn't going to encourage investment for the sake of staking because if a passive investor doesn't author or curate, 10% staking reward isn't going to safeguard her original investment.
Despite you offered a higher author rewards, there ain't many authors and sometimes I don't find any post to curate even though I upvote each and every post published on this platform (what's curation?!). So if there ain't many posts to curate, it's difficult to even earn that 40% share of POB reward allocation. So you may even argue that you need to increase author reward share! But no doubt that if you want to encourage staking and curating, you should increase curation rewards / PoS rewards ...and that's what you did to some extent.
The better use of beneficiary reward would be to find some real use cases for NATRL token and to expand the community at a higher rate than the set inflation rate for NATRL token. If you fail to expand this community at a minimum to match its growth rate with your rate of inflation, the only way to arrest the token prices is to decrease your token inflation rate to the rate of expansion of this community.
So would you like to drastically decrease the inflation rate for NATRL while putting gigantic efforts to expand the community?
I don't see this any logical but just an excuse to defend and presume that everything is going on as expected.
Any details? BTW, this is not going to hold token rate at this moment. Because you get only 10% as beneficiary and inflation rate is 2.7 times higher than that. So unless we see a regular 17% growth in the community, even all your beneficiary rewards if used for buy back won't be able to hold the token rates.
And you skipped to answer this:
In case you didn't understand, the context for the above question is your statement:
Thanks for your concern!
..thanks for your post, sounds interesting..will check it out soon..really curious about the ‘natural’-part of your project..what could be this ‘natural’??..anyway, up..follow you..
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