A suggestion for the wizards of Steem-engine.
Watching LEO getting inevitably dumped got me thinking.
Could you guys offer Airdrops by unannounced installments as part of the setup process for new tokens?
Parts 2, 3 or 4 (or more, dealer's choice) dropped in daily or weekly installments; paid out based on amount held, maybe with a bonus for amount staked.
You'd have guys who reflexively dump every airdrop watch as the unannounced followup drops arrive and land on the people who bought their dumped tokens dirt cheap.
Even tokens with a single airdrop would benefit as there'd be no way to know if the single airdrop was the only one, or the first of many.
Some would still dump immediately, but others would hang on for 24 hours; others would hold out for a week.
Some would dump; miss the second drop, scramble to buy back for subsequent drops and discover that there were only ever going to be two.
Installments could be equal, tapering off, or even jack-potting.
We gamify the process and break some habits.
You'd want to keep total tokens accurate, so maybe hide installment tokens under 'Founders stake' (not inaccurate since the founder is distributing the tokens, you're just automating the process for him)
Steem-engine becomes a real easy sell.
Want to see your marketcap destroyed in minutes?
Launch on Ethereum, if not, come to Steem-engine.
What are your thoughts?
Would you like to see some more ambiguity around airdrops?
Are you somebody who dumps reflexively? Would this change your approach?
Would you be more likely to start a project under these circumstances? Would you airdrop by installments?
Anything I'm missing?
Wouldn't it make sense that airdrops are targeted?
For example, I found myself unexpectedly possessing SCOT coins for K-Pop. I have never shown an interest in K-Pop, or the K-Pop community. Why wouldn't I immediately trade it for SteemP, and use it to buy tokens in communities I am actually engaged and interested in?
I'm working behind the scenes with one community to put something like all this together. It seems pointless to me to airdrop our SCOT to all and sundry. PALCoin was airdropped to those who were engaged in the PAL community. It was targeted to a specific - and existing - audience. We plan to do the same. Those in the community are the ones who see the value in the token, surely?
The wider value is in the fact that whatever SCOT/SMT we have is operating on the wider Steem blockchain, thus the value is actually in $TEEM/SBD, the token only representing value within a microcosmic community, like a native token amongst tribe members within their little eco-system....?
Or am I missing something here?
Couldn't agree more. This would work hand in hand with targeting. You'd also get more for your K-pop tokens since those interested in K-pop would be less inclined to sell their own in competition; and more likely to buy yours to attract any future installments.
I never even heard of a K-POP, what the heck is that?
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Wow! First time I see like this
CAPS!
What a drama
!dramatoken
I wouldn't imagine flooding the market is considered a wise move in economic terms, is it not?
No, it isn't. That said, airdrops are starting a new market, rather than flooding an existing one.
I'm not suggesting projects airdrop more tokens, just that they break up the amount they've elected to drop, into a number of installments.
That is a brilliant idea!I don't ever dump my airdrops, however today after seeing all those LEO the thought crossed my mind for a split second, just because I knew everyone else dumps when they get a big chunk of free coins at one time. If the airdrops trickled in it would totally change the mentality. Nobody likes to dump things that are growing steadily in numbers. I don't think anyone thought of that idea yet, this is all just NEW STEEM to us!
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That's right. People dump because they know other people are going to.
We need to break that self-fulfilling narrative.
I held mine, just noticed the price drop, going to scrape up what I can to pick up some cheep!
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I don't think the problem lies with the airdrop announcement rather the tokens themselves.
If people don't believe in staking them, that's the first problem. Dumping only occurs when the user sees no value in keeping the token.
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Sounds like good fun for people who like trading. I'd just be looking forward to posts laughing about people raging about it XD
So I'm a bit of a quirk and consider airdrops gifts so I hang on to them til I feel like passing them on to other people (either randomly as more gifts or looking forward to a time where I can buy more stuff with them).
I think it would change the behaviours of some as the FOMO gene kicks in to override the Quick Profit instinct. Some will still dump, but probably not as many.
I think it is a great idea! The ambiguity of it would ad in the suspense and produce more positive energy to the platform. Thanks @mattclarke for an out of the box idea.
I personally think it’s fine. You will always have people sell and those that want take risk as well. I think it comes down to a project filling a needed space.
Tags are getting quite crowded. Some people use to really struggle to use all five they could. Now with the direction things are going you could easily use 10 and even for some that would not be enough.
It’s great there is new things going on and people trying to solve what they imagen the things to be like making their own platform. The short term issue is there just not enough of a population and things are getting more and more segmented.
The biggest issue is going be diversity of distribution. Many would say Steem is very top heavy. Yet if you look even when people are given coins for free over the short term like Palnet. You will have people who want sell for an easy profit.
Than you have buyers who end up with a large stake and things not being as diverse as many are trying to solve for. In a year from now when the buyers have been buying the entire time it will be interesting to see how things went down for these other platforms trying to solve that issue. It's just an issue crypto has early bird gets lots of coins and once something is proven you have a massive amount of people all fighting over the remaining crumbs.
I think transparency is more important than trying turn airdrop into a guessing game. I could tomorrow make my own platform and coin but airdrop over next year 100 quadrillion coins. First starting off with only a million and aggressively increasing that once the first month has passed. That would sure not make investors very happy who bought at 2 cents a coin.
True, yes undeclared inflation is a great way to deter investment; the unannounced extra drops would need to come from a declared allocation, like 'Founder' or 'Development' or some such.
Playing games keeps airdrop recipients on their toes, but playing stupid games keeps investors away.
We need to stop treating recipients like investors. They're potential hodlers until they're hodlers.
LOL, a caption for the Adelaide Steem meetup - thought I recognised some faces there :D
Excellent thoughts and ideas Matt!
Personally, I'm in for the haul and have staked (as @krunkypuram) my WEED, PAL, LEO tokens - got tokens coming out of my ears, nose and now, backside too!!!!!!!!!!!!!!!
Another good turn out it looks like, Matt.
This is an old one, light's been crap over Winter so nothing recent. Twelve at the last meet, though; so we're muddling our way through :)
I don't trust steem engine token governance fully, so i wouldn't be interested in trading in them. I only like to trade things that I know and trust in, don't mind getting stuck long term. Just the way i trade though.
It is fairly centralised in a lot of ways; but that also has advantages. The devs are definitely big picture types, with a long time horizon, so I'm more than happy to get behind it.
Will you be jumping in on SMTs?
I just staked all of my Leo after I found out that I had it on steem-engine. I have no reason to sell it, so might as well hold it.
I support this great Idea!!!
What is the LEO
and what this do in the @steemmonsters blog?
LEO is a new token on Steem-engine. It's a tribe for discussing finances and investing.
They recently airdropped their tokens, 1:1 for staked PAL, which is a great idea.
Still being sold pretty heavily, but it's a move in the right direction.
Thanks. But next time (and always) try to promote the new by the linking on it (for example if I - I would put the url on the article introducing to read about inside the "LEO" word in my post :)
Gamifying the drops is a grand idea - the #hodlcrew will likely always do well 😁
I dumped most of my LEO tokens because they were worth quite a bit of Steem and channeled that into @contestkings tokens, which were also worth a lot of Steem. I staked the rest though.
I wasn't aware of the airdrop and it was a pleasant surprise when it was in my Steem-Engine account.
Most tokens will be staked from now on.
For me there is so much change in the crypto space I can't keep up - which is fantastic, but also confusing. Change is uncertainty, uncertainty is risk with out having a clear handle on the fundamentals of a token, it hits me in the extreme risk/high reward bucket - - therefore instinct is to sell. i.e.
If I see an airdrop and see it's worth Steem, this is my first loyalty and it goes straight into Steem.
If I knew the airdrop was coming had some more time to chew on it, it would make a difference - I like your idea, don't airdrop in just one run. although I imagine it is a lot of work finding all the names in the community and pushing the tokens out...I still think better to do 2 or 3 times at least.
Just trying to think out of the square - eh..I'd even push it further and say if you have airdropped and your a founder holding onto a chunk, but made the mistake above and the price has dropped, give the original airdroppies a chance to buy back their airdrop at the rate they sold it (with a screen shot from blockchain what they paid) might be worth a think.
Nice photo
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I stake everything that comes my way. I even stake tokens i got from curation that i had no airdrop for, e.g. splintertalk token. I have sold some Pal and Leo though but it is just rewards from curation. The airdropped tokens i have staked.
Btw @mattclarke, i am looking for investment opportunities on the steem chain. I actually wrote a post about it. I am mostly focused on steemmonsters presently but it is not enough. I have some spare steem that i do not want to power up. I was directed to you by @tarazkp. I am hoping that you'd give me some pointers.
I recommend buying BETA tokens off the market, and holding them for as long as you can.
https://steem-engine.com/?p=market&t=BETA
which tokens would you recommend?
BETA
Otherwise, ENG is excellent. I don't see either of them dropping.
I think BETA has a bit more upside potential, so best to focus on that.
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