Topping up the faucet
Proposal Information
Proposal description:
*Over the past few weeks, the amount received from the faucet has dropped significantly. This has resulted in quite an amount of users complaining that the faucet rewards are not satisfactory enough, and not worth all the trouble. Due to this observance, I had made a discussion post prior to this proposal. See Topping up the faucet and changing the claim period?. The general consensus is that topping up the faucet slightly is not a bad idea. There has however been a split divide when it comes to how much this top up should be; Some finding a starting amount of 10 $ in HNY being a valid start with the new faucet distributions, whilst others fearing that this might be too high and that it could negatively impact the price of Honey. One final remark is related to the length of each period, being 48 hours. Based on discussions I propose to top up the faucet enough so that each user gets a value of 0.0057 HNY, which roughly equals to 6$ per 48 hours. This is an increase of roughly 2x as of now. EDIT: I’m adding a poll where you can choose how much HNY you would like to get in $, per week, as a start from the faucet. Do note that this will drop off as 5% is taken from the faucet each distribution. Do note I write on a weekly basis in the poll, this does NOT mean that the faucet will payout once every week. It’s just a metric being used to figure out how much every user would get every week in HNY from the faucet, regardless of the period time.
How much HNY should the topped up faucet give as a start, on a weekly basis?
- 0$ in HNY per week as start distribution
- 5$ in HNY per week as a start distribution
- 7.50$ in HNY per week as start distribution
- 10.50$ in HNY per week as start distribution (Current faucet rewards)
- 15$ in HNY per week as start distribution
- 18.75$ in HNY per week as start distribution
- 25$ in HNY per week as start distribution
- Other (please explain in comments below)
- Abstain
0 voters
Proposal Rationale
The reason to top up the faucet is to attract potential new users to 1Hive. Users might be more inclined to opt into the faucet knowing that the reward has nearly doubled. Furthermore, as the price of HNY increases the rewards received from the faucet add up, potentially being more than the initial value. By keeping the 48 hours period, users are more often exposed to 1hive.org, as they have to visit more often on a monthly basis. The new amount distributed sounds like the sweet spot to me, as by not bumping the reward too much, growth can remain organic.
Expected duration or delivery date (if applicable):
-
Team Information (For Funding Proposals)
Names, usernames, and/or relevant social links for team members (Twitter, Github, 1Hive Forum, etc.): Rayne
Skills and previous experience in related or similar work:
None
Funding Information (For Funding Proposals)
Amount of HNY requested:
Not really sure what to put here actually, if this is how much HNY is required to top up the faucet, it is equal to 163.55 HNY. If this is about funding for me coming up with the proposal, I would say 0.
Ethereum address where funds shall be transferred:
Faucet address, which I think is 0x967ebb4343c442d19a47b9196d121bd600600911
More detailed description of how funds will be handled and used:
The funds will be used to top up the faucet, resulting in a higher payout per user.
Let me know what you guys think!
EDIT: Polls have been closed, due to the fact that some suspicious accounts have been voting on the highest amount, I think it’s logical to go with 15$ a week. Meaning that the faucet will start with a payout of 4$ in HNY every two days. This equates to a top up of 123.52 HNY, as the total amount in the Faucet will equate to 257.2 HNY. On the first distribution this means that 0.05 * 257.2 HNY will be distributed, equating to 12.86 HNY, over 3215 users. (=0.004 HNY per person).
https://1hive.org/#/proposal/21