Slothbuzz Token, An update! - It's HPUD, So Let get Buzzing!
Sloth.Buzz, an update, an overview, a dive into the token!
Well, as you're aware slothbuzz has been online for a little over a month, in this time we've had some awesome content passing through sloth.buzz! Soon we'll need to start a weekly, or possibly a daily curation post! We want to continue to highlight the BEST content creators on Hive, allowing them to build on their passions!
By joining the slothbuzz community and discord, we do some of the heavy lifting for you, from helping build a fan base, to streaming and promotion! Some of our community have been featured on CryptoRadio.FM already, some have utilised our streaming channels to further their reach.
Most continue to use #slothbuzz and the sloth.buzz interface to create and earn on Hive! Plus just like all other hive sites, slothbuzz rewards users for CURATING content, that's right! For those not too familiar with hive. You earn just by voting on the best content!
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Slothbuzz issues
So, let's address some things that may cause "red flags" for a new token or tribe on Hive.
First up, Token distro, and Voting.
All Hives sites are based on fair curation, to ensure the best content gets upvoted and highlighted to the community. With this in mind, Slothbuzz has several curation accounts. SlothBuzz and Slothbuzz Curator being the main two, with key supporters SlothlyDoesit and Patlebo holding a small amount each, after staking their majority shares into Slothbuzz/Curator accounts.
Now as you can see, some are staked/delegated via SlothlyD and Patlebo, the two OG slothbuzz users. After having issues with Tribaldex upon creating our outpost (the whole tribaldex went down and we had no access for several hours) we realised our initial calculations were off and the token distribution was far to high.
We seen the potential to have the token around the $.50-$1 mark, we thought, with the bear market, this price would be reasonable, especially with the limited supply we would be introducing, with only 6.9 tokens minted daily. Alas, the outage caused the supply to rocket to 8000 in the first few hours. As we had distro set a lot higher, not considering the possibilities for content to earning at an early stage. As soon as we could correct we did, but now were faced with an issue, 8000 tokens in the reward pool, and a daily distribution of 6.9 tokens. In order for the token to hodl any value we had to pull as many of those back in as possible or face liquidating more of the supply to keep a balance.
So we got to work, we could have just kept quiet, not told anyone about slothbuzz and grabbed them all that way, we thought we would make it into a bit of a competition, slowly opening the slothbuzz doors to other users. A few found us early, and started using the tag and site, earning slothbuzz tokens. The challenge was on, of course, we had a slight advantage, we had more voting power, and yes, we had to "abuse" (utilise slothbuzz best advantage) it slightly to keep things in our favour.
We were a little naive to the Hive systems, and not entirely sure how to get the tokens back to our wallets. They were there to earn for all. So we pushed content, daily, and started "self upvoting" a horrible tactic in Hive, but for this short period, it was needed. If all tokens had gone to creators for random content the token would have already collapsed.
Clawing back tokens we started to share more with slothbuzz users, and we noticed them dropping in the market as quickly as they could earn them, are we surprised? Not really when the buyback price is 3.9 hive, after all, we don't want the slothbuzz token to fail before it's even started.
How do we plan to progress from here?
As slothbuzz starts generating revenue we aim to have more buybacks and keep the token pushing forward. All these buybacks will be announced and done in a timely manner to allow the whole community to maximise their benefits.
We have a lot of utility to add to the token, yet we guarantee no profit or revenue of any sort for holding. We're weighing up the staking options, however, our main focus, for now, is bringing utility to the token, and community.
From using the token as a payment method for advertising (still to be confirmed) to creating NFTs using sloth.buzz website and token (again, work in progress). We're hopeful we can introduce some form of "listen to earn" with cryptoradio.fm also, whether this is a manual process for special events or an automated system is yet to be determined.
For now, we continue to push and develop, as explained, most tokens are now in "diamond hands" which could raise some red flags, with so few users holding so many tokens it would be easy to manipulate and dump.
It's been an interesting Day in Hive, some great posts from SlothlyD and Patlebo, check them out!
I've actually been sitting on this post for a couple of days, trying to decide if it was worth posting, but with the events of today feels like an awesome time to share it, especially with @patlebo mentioning it in his latest video!
The two main users of slothbuzz, have been around for years, working with many projects, and building a solid reputation in the space overall, all be it, we're still "new" to Hive. So, we have a lot of bridges to build and trust to earn, we're open and honest, so If you have any questions, feel free to join the discord and ask. Any red flags or issues you've spotted let us know, we'll try to explain anything.
We've recently onboarded some Discord "Buzzers" to help with communication there, hopefully, we can follow some of the awesome communities on Hive to push into events and other supportive programs to encourage participation with other users and the best content hive has to offer!
In conclusion, raise your concerns with us and seek answers!
Well, Thanks for reading, I hope it clears up some issues that I know I would be looking at as red flags for a new project.
Any questions, drop them below or join us on discord for quicker answers.
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| Sloth.Buzz | Discord | Streaming - Merch store |
| Delegate HP to SlothBuzz |  |  |  |  |  |
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| Delegate HP to SlothBuzzCurator | | | | | |
SlothBuzz is a community Outpost for Hive Blockchain, Helping small creators grow. $Slothbuzz token is used for Curaiton of Sloth.Buzz content. Please always DYOR before investing in any cryptocurrency and remember Sloth.Buzz does not provide any financial advice. All content is opinions of authors and not representative of Sloth.Buzz.
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