GOSH Announcement and info + airdrop

acidyo (82)in LeoFinance • 2 years ago

Alright, hi everyone, apologize for the late announcement post regarding this, irl's been weird lately.

With the popularity and improvement coming to Leo Threads and its UI we wanted to help support the movement and after a few good suggestions by stakeholders like @taskmaster4450 and @khaleelkazi we decided to move quick with a variation of POSH to support link sharing/promotion on threads and possibly more #web3 platforms in the near future.

What is GOSH and why?

We wanted to create a new token for this initiative, while I understand some people's concerns that too many tokens isn't a good thing, we think that it won't hurt the POSH project due to its size and the way the tokenomics will become over time. The name GOSH came from a suggestion by @nonameslefttouse who has often been great at coming up with names for projects after failing with his own username, thanks buddy!

With POSH the main idea is to generate traffic and potential new #web3 users on #hive so the whole project is built around the value it brings by sharing content on #web2. We felt that sharing the distribution of POSH towards a more "in house" initiative of users already on #web3 would weaken the vision of POSH. This is why we decided to go for a new token and also because aside from threads we can see it being used in other ways in our ecosystem, but more about that another time.

How will GOSH work?

Similar to POSH it looks for Hive front-end links shared in Leo's Threads, then it comments under the shared post with a link to the thread, letting the author know that his post was shared. This enables the sharer to earn some extra Hive + LEO if the comment gets upvoted (say from the author for instance wanting to thank the person sharing his post) but then depending on how the thread performed compared to all other link-sharing threads that day it'll give the potential to also earn GOSH.

To instantly liquidate the comment rewards we'll be using @reward.app which has Layer 2 tokens already integrated meaning it should be able to liquidate both LEO and Hive which will be sent to the sharer after payout. Keep in mind that certain rules similar to POSH will apply, i.e. if the upvoter is the same as the sharer the liquid rewards will instead be sent to the DHF/null.

Airdrop

We're going to be doing an airdrop to POSH holders, while it's going to be a small airdrop to give everyone else still a fair chance at earning GOSH early on by actively using Leo Threads, we felt that POSH could use some more "usecases" and value since due to the way it works it has always lacked buy demand. Not to mention that it's also quite a copy of POSH so it only felt deserved that it receives some of the new token airdropped to its holders. We're thinking of airdropping about 10% of the tokens to POSH holders at a certain snapshot yet to be announced, but rest assured that most of your activities ever since @poshtreads was created will be earning GOSH and possibly Hive from the comments as well. What we mean with 10% is if POSH and GOSH had the same supply and issuance, GOSH will start at 10% already issued on the first day towards POSH and from there distributing 500 tokens per day, POSH is at around 500k supply right now so the airdrop will be of around 50k GOSH (while a lot of it is on @null or @poshtoken.wallet (bought back POSH). This will keep things fair for everyone new to the "sharing economy" but give those who've earned and bought POSH a little extra incentive to keep holding with possible more rewards coming down the pipeline!

Ending note

Similar to POSH we will also be looking into supporting GOSH in the same ways we have POSH, which means placing some buy pressure from things like curation and post rewards and also look to continuously evolve the project if need be. Big thanks to @hivetrending for moving so quick and efficient with GOSH to support the big movement of hivers threading and bringing twitter activity to the chain.

Those delegating to @poshtoken will also be receiving some GOSH delegation rewards once we set things into place which will make it more rewarding to delegate to the project which uses all of its rewards to either pay for development or place buy pressure into its token(s).

If you have any questions please feel free to ask, I'm a bit busy these days but I'll try to answer them as soon as I can.

We'll try and post more exact info soon on airdrop snapshot date, exact amount of tokens to be airdropped, what will happen to the rest of the supply, etc. Stay tuned and thanks for reading!

Posted Using LeoFinance ^Beta

#gosh #leo #threads #leofinance

2 years ago in LeoFinance by acidyo (82)

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poshtoken (83) 2 years ago (edited)

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