It is not about what people do with the HNY, though many will add liquidity to the Farm. It is about gaining exposure in the space, creating a buzz, and sending a massive wave through the community at this volatile time. A float under 25 Million is considered a low float, this would also allow the team to open up the faucet a bit more, utilize additional tokens for marketing, and gain more than quadruple the participants. However, it is the best move at this time, HNY is a utility token, the price trend at 25K is continuing to downtrend per its value. What problem is there with competing, I’m sharing a move to rival Uniswap and give Honeyswap and the x Dai Stake chain a huge amount of publicity and advantage. Market the effort and gain 250K wallets, build out the Farm and contend with the big bees - time to contend!!!
Its a utility token, it is going to find its level of value regardless of the float!!
an airdop of 100 HNY is around two million, the HNY should have a float of around 25 million. The farm should be expanded not contracted. Your sarcasm isn’t appreciated. Nonetheless, you are correct it is a brilliant marketing plan! Uniswap already proved the validity of my argument, is that who you work for??
The Uniswap airdrop was a game changer for me because I felt I was rewarded for trying something out and I didn’t know that it was going to happen. It was something that your avg. Joe has not done before and made me feel like it pays to be on the cutting edge. I sold 300 of my 400 UNI for about $2000 and then kept 100 only to trade it for some other alt coins. Bottom line I dumped the coin because Uni is so big I didn’t need it for governance and the community is well established. I do like being apart of the HNY community and it is fresh and new so having more HNY is something I’d like to have because I want to stay for the long haul.
With that being said, I think that an airdrop is a good idea but it doesn’t seem like the majority of people think it is. I have to agree that having a lot of HNY all of a sudden wouldn’t do much good if the plan is to just dump it but if there was some other type of qualifying metric to receive the airdrop it might be worth looking into to generate a buzz for people in the community and for those outside.
I think your correct, receiving the UNI was also like appreciation, after contributing many transactions, it was also perceived as a thank you or gratitude. Almost like Uniswap was saying thanks to the early supporters. That perceived emotion generated a widespread buzz through out the community, and it still is “we’re chatting about it right now.” Honeyswap should perform the airdrop, and add tokens up 21million, trying to make a utility token something more than it is, kind of pointless. I think just the early wallet holders up to 15K, why an additional requirement, the idea is to create an immense frenzy among the community, bloggers, youtubers, journalists, etc. Can you imagine what people would say, Honeyswap just airdropped 20K to every wallet to early investors. The entire space would hear about it, it would be a total frenzy, bees flying in from every direction. The community would grow so completely my guess is 500K new wallets in the first month. It’s the great decision; however they don’t seem to posses the mental capacity or clarity to put it into action, and see beyond their own short sightedness. Either way by the end of 2021, the competition will increase in the space, and they are likely to bee blown away by more aggressive thinkers and producers. That is why I’ve continued to write that, “the murder hornets” are coming and they’ve been known to devastate hives!! They should hire me as consultation and to perform marketing, however they most likely stick to their plan that is need of reconstruction!!
Also, first the pot needs to be adjusted to around 25 million HNY, and then the first two airdrops snychronized through marketing to drop about 3-5 million HNY in both airdrops. The second airdrop is marketed with the first to gain the majority of the community. The farm should be built out and the project should expand exponentially. The increased supply allows the Honeyswap team to do much more, the airdrop allows the exchange to be branded, and become more “popular” which will also cause the price to increase, honestly I think they should add fifteen different farms with competitive incentives, defi seems to be growing irrationally. However, I think a custom NFT select per thousand is also a great idea, added to different areas at different times! It could very well be that I am absolutely very correct, and a wise philosopher once said, “those who are in the valley see not as those who are on the mountaintop.”
In other words, you see according to your experience, and your current situation at the moment, and it is very possible that your not seeing the full picture. I don’t claim to see it all, yet what I do see and know to be true, remains true!
In your mind, what makes honey a utility token?
If there was an airdrop I would like to ensure as few people from this community get it so it covers as diverse and audience as possible. Maybe take a snapshot of some desired main net address holders such as dai on x date and then require they claim on honeyswap. What ever we decide If we made it so you weren’t getting the airdrop Would you still support it then?
Also it would have to be large enough to create excitement but at what cost?
UNI did 12,000 addresses at $1,400. The equivalent would be 67,000 HNY that’s almost 3x our entire token supply. I am not sure that’s something I can support at this time. We don’t yet have an issuance policy. That has to come before we even think about an air drop imo.
Look. that’s what it is, accept it, just as you can not turn a buick into a tesla, neither can you make HNY into anything other than what it is, it should be utilized as such to fund growth and brand/popularize the product. After, with due diligence it is possible, and likely that it can gain value, and be perceived as a value token. However, the actual value is likely to occur in the distant future, if the appropriate actions are conducted in the early stages.
I’ve already made it clear that it is a great marketing move, however the equivalent isn’t the idea/concept/or thought! Neither is ruling out early supporters because they brought a “excellent” idea to the forum. You guys need to lose control, its like you have your fists clinched around the HNY so tight, that it is bound to be overtaken by competition. Better to make a great move, and let the chips fall where they may, however the supply needs to be increased to up to 25 million first. 25K is maybe your problem, it isn’t yearn finance and won’t ever be yearn. The coin most likely will not ever reach such a height in price, accept it for what it is, and rationally build on the platform! The necessary steps need to be taken first, and then aggressive actions in marketing - however broad and elaborate marketing similar to that of Uniswap, only smarter and more effective. Good benchmarking is not copying, it is looking at what others have done and going miles beyond an effective strategy. Also, please deduct your bitter and resentful attitude, do you not perceive that I am trying to help, or are you so entirely jaded that you fail to perceive the simplicity of brilliance?
An airdrop, if appropriate, would be wasted if it went out before the issuance policy was settled and Honeyswap had enough liquidity for traders to use.
Your post contains 86 words and none of them are an answer to my question.
e: to be a little more charitable, I went and looked up the dictionary definition of “utility token” (which, apparently, exists!) and sure, I’ll agree that to some extent honey fits that definition.
But I’m not understanding why you think diluting existing holders of the token to essentially nothing and airdropping the new issue to everyone will help anything at all. Can you explain the “brilliance” in this to me, an apparently dim bulb?
Like, I guess I don’t understand why it being a “utility token” as opposed to any other sort of token matters. In your example, is a Buick not also a car which can get you somewhere? Buicks and Teslas fulfill an identical requirement; one just happens to do it better and is more expensive. Buicks wouldn’t become more valuable if ten of them were dropped into everyone’s driveway… and people wouldn’t need more cars than they do today, either.
As stated before, an issuance policy is needed first. You are more than welcome to help contribute to the formation of the projected issuance
A buy back progam should be considered soon to help HNY would be appreciated
All of the profits from 1Hive projects (just Honeyswap currently but Celeste soon) are converted into Honey and deposited in the community treasury.
The dynamic issuance possibly will also likely be set up to increase/reduce the supply in the community pool to target a ratio of total token supply. So if revenues are higher than outflows, the total supply would decrease over time.
(warning, not set in stone yet, but this is the idea that luna is converging on)
You cannot change money supply as you want. You would have to increase number of coins of all holders accordingly (either you devaluate its value). If this is feasible… i agree that counting with 0.0000x HNY is annoying.
On the other side, airdrop for new people coming (not current members) makes sense as a promotion. 100 HNY is just enough (could be less). Let’s make it as a competition (or airdrop to all) with a wide spreading thought-out promotion. However, the project should be prepared in a good shape in order people have great experience and HNY are spend effectively. Eg. it would be good to simplify bridging (so your grandma can do it easily) and simplify get started info.
LOL, sounds good cupcake!
nop, don’t recommend it. The price will go higher, just give it time, we just need to create a need for people to come in with new projects. Giving without any merit will only sink it more.
The price is irrelevant, the object is to compete and effectively market. I think we are considering two very different vantage points. Long term value versus short term price, honestly I’ve stopped debating this topic. I think the project has a lot moving in the right direction, and key points that should be addressed in the near term. Guys, I respect your opinions, feedback, and participation; however, I don’t want to debate the airdrop topic, what I consider a brilliant marketing move - the project is not prepared for at this time! Also, the topic is pointless to discuss, if I don’t reply to these posts any longer, that is why!