Many have been asking questions regarding #gosh after the announcement, airdrop and starting the distribution of them as can be tracked on @poshthreads. So I figured writing a new post with how things work both in a simple way and a more detailed way for those interested so I can link back to this for future reference.
POSH and GOSH simply explained
POSH
When you post a tweet that includes a link to a Hive front-end and you use the #hive tag, @poshtoken will automatically detect it then place a comment under the post you shared.
If you are registered on hiveposh.com the bot will know who the Twitter account belongs to on Hive which enables the comment aside from POSH to also earn liquid Hive rewards if someone other than the sharer upvotes it.
Depending on your tweet's performance that day, you compete against everyone else to earn a daily issuance of 250 POSH, the Hive rewards if someone upvotes the comment are a bonus.
POSH can however be traded for Hive (or swap.hive) on hive-engine.com.
POSH on Reddit does not require you to use any tags, it will pick up the link in any subreddit and drop a comment under the shared post. We do however block certain subreddits from earning POSH if they are too close to Hive as it defeats the purpose of getting visibility to our ecosystem there. (for instance the r/hivenetwork subreddit)
GOSH
Similar to POSH, you can earn GOSH by sharing Hive links in Leo Threads (and soon other Hive short form content dapps/front-ends).
Here you also compete against other users daily depending on how your thread performs, but here we don't count amount of votes or reblogs (compared to Twitter's likes and retweets) but instead look for engagement and amount of rewards of both LEO and Hive.
You don't have to be registered to link your Hive account on our website for GOSH as it's all onchain within our ecosystem already so we know which your account is.
POSH and GOSH more detailed explanation and thoughts surrounding it
POSH
While we attempt to make it as easy as possible for the user experience there's quite some complexity in the back-end to how POSH operates. I'll try to go through every aspect and explain whatever I can with my non-developer mind.
When you make a tweet that has a Hive front-end link that we've whitelisted in it and the #hive tag, our bot will fetch it and place a comment under the link you shared.
Whether you're registered and have linked your Hive and Twitter account on our website at this point the bot won't care, but it is in your best interest to do so because else it won't know who to send POSH or Hive to which instead get burned or and the Hive respectively sent to the DHF.
The @poshtoken account places a comment notifying the author that his post was shared on Twitter, if the sharer isn't registered it will not mention anyone, if they are it will mention who the sharer is by his Hive @username. If someone else shares the same post and they also are registered it will edit the comment with an embed to the new Twitter link as well and edit in the username of that sharer as well. This is to prevent @poshtoken to spam a post with too many comments.
The rewards of the comments are sent to an account that liquidates the rewards, instead of @poshtoken receiving 50% in Hivepower and 50% in Hive/HBD it will instead receive all of the rewards of the comments as Hive (it posts the comment as 100% power up with beneficiaries to @reward.app). This is to make the process simpler without needing to power down funds and send those out later to sharers earning Hive rewards. This process also takes no fee so the sharers receive all of the rewards, only reward.app takes a small 1% fee of the rewards for liquidating.
For the daily POSH distribution, it is split as followed:
50% go to delegators (250 tokens) and 50% go to sharers (225 to Twitter, 25 to Reddit) the latter can be adjusted based on activity. For the sharers, you can imagine it this way, it calculates all likes, retweets, engagement of all eligible POSH tweets that day, who they belong to and posts them every 24 hours distributing tokens based on those metrics. Say for instance the tweets with the minimum of likes/retweets would get 0.1 POSH while the tweet with the highest number of likes/retweets/engagement can get more, usually 5-6 as there's a lot of eligible POSH tweets that meet the minimum requirement. This of course leaves out a lot of tweets that don't meet the min. requirement meaning that on a daily basis there can be over 600 tweets that @poshtoken comments on posts with.
Then there's also some calculating behind each comment depending on how popular it is. I think this is better explained with an example:
Say user A and user B share my post on Twitter, @poshtoken drops a comment under my post with both tweets embedded. I give the comment a 1 liquid hive upvote after payout for simplicities sake. Now before the liquid hive rewards are sent to the sharers, it will check each tweet's score: likes, retweets, engagement and split the 1 Hive depending on who got more. If user A got 90 likes and user B only 10 likes user A will receive 0.9 Hive while user B gets the remaining 0.1 Hive.
This gets a bit more complicated if there's a self-vote on the comment, in the example above if user B has self-voted the comment as well his 0.1 Hive is instead sent to @hive.fund as we don't want people rewarding themselves with Hive from the reward pool for simply sharing content there, we'd rather see the author be in charge of that or other random curators. It's a bit similar as how constantly upvoting all your comments is frowned upon and we feel like being able to earn POSH should be the main focus rather than attempting to maximize Hive earnings with our service.
To avoid abuse we have a way to ban users from earning POSH & Hive, this means you'll still have your verified Twitter verification badge but won't be able to receive the benefits that come with POSH'ing and your potential rewards will instead be burnt. You can always appeal to be removed from the banlist after a while of course. We also have ways to prevent certain tweets from earning POSH & Hive as payouts of comments happen 7 days later and the POSH rewards are also sent first after 7 days: https://he.dtools.dev/@poshtoken?symbol=POSH this gives us some time to overview the daily reports of earnings to make sure no shadiness has occurred. The addition of being able to ban certain tweets was after bots such as Hey Wallet and Chaintip or whatever it's called became popular as they're infested by bots that bring close to no real value to the links and our ecosystem and users can cheaply fake a lot of Twitter likes/retweets/engagement which meant they'd earn a lot of POSH which only takes away value from the reward-pool and other sharers.
Okay so some thoughts regarding all this now.
Used well, POSH can be quite a powerful tool not just to incentivize sharing of content which in and of itself is quite unique but also makes it transparent. Sharing content from our ecosystem has been something not many have actively indulged in for years on this chain even though for many stakeholders that has felt like one of the few ways the content may deserve the rewards from inflation it is getting. Striving for genuine engagement and banning fake ones also means that the word of Hive is kept in good standings on #web2, as we know crypto is quite full of scams and rugpulls where more normies just like to bundle them all as "just scams". While we can't stop some people from using bots and fake engagement on their Hive link shares, we can at least not reward it.
It can also work as marketing tool for the authors themselves, when holding a significant amount of Hive Power and voting up the @poshtoken comment it generates an mini-reward pool for others to partake in to share the post by that author to earn some of the pending Hive rewards. Authors can this way get potentially more views to their posts while it also gives a further usecase to holding Hive power to be used this way.
Sharers can also share older posts that have already paid out, as long as you haven't shared it before then @poshtoken will work on it.
Another thing many don't think about is that for front-ends with potential adrevenue in the future this could mean that POSH is able to increase it. Take @leofinance for instance which is one of the only ones I know of that uses adrevenue on their main website. POSH activity may lead to it earning more revenue which goes back into buying LEO so which all holders benefit from. In the future we will hopefully have more front-ends do the same and share the adrevenue either with the authors, sharers or HP holders or a mix of them all.
GOSH
For GOSH it's quite similar except that instead of likes/retweets/engagement we focus mostly on engagement of threads and amount of hive and leo rewards they receive. This may be fine-tuned and adjusted over time.
One of the next steps for GOSH will be to also implement @dbuzz to enable #gosh rewards for sharing links in!
I wanted to talk a bit more about tokenomics, some changes we'd want to implement in the near future and other plans we have for both POSH and GOSH but I think this post got quite long already so I'll save it for another day.
We'd gladly hear your thoughts surrounding it, since POSH and GOSH is a community-funded project we're open to ideas on how to improve it. Big thanks to @rishi556 and @hivetrending for having more time to spend on the POSH project as devs lately who've done a great job at evolving and maintaining it. Make sure to vote for their witnesses if you value their contributions!
Thanks for reading and the excitement surrounding the project!
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Thank you for the detailed explanation @acidyo. I've been really distracted by RL dramas, but need to say thank you for Posh. It's not only been a great incentive for promoting our Hive blockchain and some talented bloggers,but also made me realize the value of marketing my own content.
The POSH token has being doing so well and as much as I hated doing it, I turned my POSH earnings into fiat.
So...not only can we use it to help with our growth here on Hive, but also help with RL crisis!
That's just my little POSH story, will have to get going with threads & GOSH 😉
I'm glad it was able to help out with your situation, hope the drama de-escalates soon as I'm currently busy with irl things as well and really wish I could spend all time on hive instead. :D
Thanks @acidyo, looks like the tide is turning, although I don't want to say it out loud, just in case those gremlins come back! Wish the same for you... I've REALLY missed not having more Hive time!
This was really helpful @acidyo it answered half of the questions that i have been willing to ask about posh, you breaking it down and simplifying it to bits, is amazing.
I have been finding it very difficult to link my Hive and Twitter account, I tried signing up at https://hiveposh.com. several times. I don't know if i am doing it the wrong way though.
Could you login and share a screenshot of what it looks like in the upper left corner?
ohh sure would do
Thank you for this. Hope it clears out the questions some people have regarding the mechanics especially of the #gosh token.
This is awesome! I always thought that we can only share fresh articles. Glad to know now that poshtoken works with older ones too.
Thank you and kudos to you for all that you do.
I think that you are all doing a great work!
I will start delegating to @poshtoken as well, since now I better understood the way it works.
A couple of questions: I have verified on POSH with my twitter account, but I do not a huge follow on my Twitter. Is is worth the case anyway to post there?
Where can I read more about the Tokenomics of POSH token?
Thanks for such efforts you guys and girls are doing!
I'll make a new post soon about history, current and future plans for tokenomics.
It's worth it, especially if you start following users you follow here on Twitter as well, which should be easy to do if you check the profile pages of certain hiver's who are registered you can just click on the twitter icon and get to their twitter profile. So that way you can grow a genuine following there too and mix in some non-hivers it gives better value to your shares.
that's amazing! Besides, I do not want to sound intrusive but I have been designing tokenomics for a lot of projects (even currently) and I would love to be involved in the evaluation if more developments will be required.
Great. I will give it a shot! Thanks for the hints
I could give you one of the bullet points of the next stage of "artificial" tokenomics that we're thinking of deploying to hear your thoughts on it.
I don't mind it being public as it's already been discussed shortly in the past and we're pretty open about things anyway.
Basically, poshtoken's expenses aren't much and due to the way it operates and what it attempts to do (bring traffic from web2 to hive) it has been allowed by most stakeholders to earn a share of post rewards on automated daily posts which is not something I would be for in other cases but given the transparency we've strived for with POSH and since there's been no pre-mine/team allocation I think there's value to be gained here this way for stakeholders. Similar to how @hbd.funder comments bring some value to hbd stability and profits back to @hive.fund I deem it a bit similar to it.
On top of that we eventually started the "delegation for part of posh issuance" feature so we now have 2 income sources, curation rewards and post rewards. After paying for developers, maintenance costs the rest of our funds go towards @poshtoken.wallet which buys up POSH (now also GOSH) from the market. This isn't to be confused with @null, we're not burning these tokens the way a lot of POSH has been burned either by users not being registered but still eligibly POSHing or certain banned users still attempting to game the service and their potential tokens going to null.
With these bought back tokens we have other plans, but before I get there I have to mention that when we first created POSH we set a limit of 1m tokens. This was years back when we thought SMT's would exist on Hive by then or "layer 1 tokens" that we'd move over to. Right now we're at around 550k tokens issued out and before things start getting close we've decided the best move forward would be to start decreasing the amount of issuance where before we hit 1M the issuance of "new tokens" stops and instead during the decreasing issuance of new tokens we inject tokens we've bought back since into the distribution.
Say for instance if currently there's 500 daily tokens coming out, 250 to delegators, 250 to sharers, every week there'd be 5 less being distributed. Then for instance once the daily issuance is at 250 tokens and decreasing every week by 5, we'd start injecting 2.5 "bought back" tokens into the distribution so it's instead decreasing by 2.5 every week but some of it isn't pure inflation.
This would create a layer of distribution of tokens we've bought back, people holding would still hold and not really know any better, those selling would then sell into a second wave of buying back tokens from our program. Over time making it even more scarce and valuable with new additions as usecases, possible new sinks and needless to be said deflationary in nature.
We'd also want to do more things with the website, give people a reason to check it out a few times per day, get some adrevenue going which would help on not just relying on the hive reward pool for buy pressure and in general build more things on top of the token. We think that the token is quite unique in the way it has been distributed and the fairness of it all, where the first airdrop only went to people who've been sharing hive content before the token existed and everything having remained community-funded with the main goal of supporting the hive ecosystem with potential traffic, adrevenue (in the future) and of course potential new users and investors.
A lot more plans for the website but I'll save that for the actual post, let me know your thoughts if this is a feasible idea or if you think there's some issues down the line with it.
A quick chart that could visiualize issuance with A being the regular new token issuance and B being bought tokens being injected into distribution:
A couple of questions to make sure I am on the right track.
By "stakeholders" do you mean "Delegators to Poshtoken account", "Token Holders", or there is a group of "Token Creators" that are getting tokens here?
What tokens (coming from what streams) are burned?
I see it. And I went to see that every day, on average, around 100 Hive are buying Posh Tokens. Where are these Hive coming from? Curation and Post rewards? Can you be more specific on what Curation and what Post are you referring to? Only PoshToken account posts?
I think that there is a lot of feasibility here. Let me know about my questions above, so I understand the "entering" and "outgoing" streams, and I will share some ideas
Must've said that wrong, I mean it's been generally acceptable that the daily @poshtoken posts get rewarded with upvotes, there haven't been people downvoting them or bringing them up as an issue as they understand this is how we partly fund the project and give the token value which in and of itself brings value to Hive. Since there's no one unfairly getting value this way due to the project not having had a pre-mine or allocation I've personally felt this to be an okay way to fund it and help the token price which in turn continues to incentivize people to grow their twitter reach when sharing Hive links, etc.
There are certain tokens that have been burned, these exist in the @null account, however tokens we've bought back exist on the @poshtoken.wallet account. These have been bought with Hive from post rewards and curation (delegation) rewards.
Yes only the @poshtoken posts and its curation rewards, although in the near future we may change how/what we upvote with the account.
So outgoing Hive streams are:
Incoming:
and as I said, if it were any other automated posts getting post rewards I'd usually be against it and downvote it myself but given the nature of POSH I think this funding has been crucial to maintain and grow the price of POSH which in return incentivizes more people to join and later potentially even bigger influencers when they realize they can earn some crypto for sharing good Hive posts on their web2, potentially even create an account themselves to share their own posts.
So over time, the more people have registered and started using POSH, the less tokens each and every person has been able to earn and the less have been burned, we do monthly stats of this as well which dalz provides.
Since we're closing in on the supply cap and there's yet to be a more "web2 income stream" such as adrevenue I believe that starting to slowly over time decrease issuance would have the desired effect of increasing the price of the token due to scarcity and at the same time more and more people joining and competing against it. Same goes for GOSH but that one just started out and is still in the infancy stage of issuance, but we thought to keep the tokenomics same for that one as well since we're yet to build proper sinks, utilities and usecases for POSH&GOSH to instead keep token issuance constant and hope demand comes from the sheer amount of users participating.
So yeah, I'm no expert in tokenomics but if say in a year or two no new tokens are being issued and the only ones being distributed are those who we buy back (hopefully not just from straining the post and curation reward pool by then) it should positively affect the token's value even if nothing new has been added as to what to do with it or growing the posh&gosh ecosystem.
ok. I see.
So, I will start from some considerations:
1. the @null account has more than 80k POSH tokens, meaning that across the lifetime (threee years more or less) more than 8% has been burnt.
I see that the burning mechanism burns all the POSH tokens from users not correctly registered. If possible, I would cut this one since some bots can start spamming to get the POSH tokens sent to the @null and then diluting the rewards and discouraging other users. You can eventually recirculate these tokens to the Genesis wallet. In this form you will not burn tokens for users negligence.
Token anyway, can be burnt to keep the deflationary process, but token burnt has to be done for other actions, like creating a small pool to incentivize the non-correctly-registered users, really registering and getting a small part of "null tokens" afterwards. In this way, you would incentivize people to register to POSH.
Example:
https://ecency.com/posh/@poshtoken/posh-1677103200199
49 "null entries", for a total of about 30 POSH tokens into oblivion. That's more than 10% of the distributon. It's a heck high/killing burning rate.
2. Reducing the token payment is correct. You will decrease the selling pressure and in that way price can slowly start to climb in value because you will keep buying it day by day.
If you add this to the change in the "POSH to null" behavior, I think that you have 50% of the solution already here because you can immediately reinvest the small treasure POSH will accumulate every day in the other activities you mentioned.
With bullet point 1 and 2, you may recover 30POSH that are not going to be burnt and reducing the daily incentive to 250 instead of 500. So the saved from burning POSH tokens will be likely the half, and you will be saving 280 tokens in total, 15 just from the Post distribution side.
If summed to the buy-back and the following point, I think we almost got a solution.
3. To incentivize the "buy-back", you can also create some small programs of content curation. Like I said about @ecency Boost program and like also @pgm-curator curator is doing, you send them tokens and if the post is deserving it get the chance of getting curated by someone. You can make people sending POSH tokens so you will have an "automatic" buy-back. To create this feature, and avoid exploitation of the system, you can ask for a minimum of POSH staking (with no APY, just to prove that they believe into the project and they support it by staking the token.
I gave a look at the POSH distribution and they are quite small (correctly, according to total and circulating supply). I would then avoid blocking too many tokens otherwise you would have the opposite result, so if you decide to go for this way, I would evaluate a minimum lockup of 1 POSH (for example) and a number of POSH to be sent to the account of a reasonable number to obtain (potentially) a curation. Based on how much flexibility there is on the smart contract of POSH we can also create a dedicated gamified way to make this to work.
4. Creating this new environment you mentioned would be definitely healthy. It would allow you to sell some marginal (at the beginning) features and creating buying pressure. In line with my idea of Curation (bullet point 3). You can also create some games (like the one from WIN on the TRX blockchain) to be played with POSH tokens and evaluate partnerships with other gaming guilds here.
Also small monthly subscription can help in keeping up the buying pressure.
For the moment, these are the first ideas I have. Anyway, I am interested in keeping the conversation up and running. Even on a call if you feel.
I can also share a "numerical" proposal but I will need to study deeper the ecosystem and getting some average statistics
let me study what you wrote and deploy some evaluations.
I will revert here
OK so this is my formal introduction to #POSH & #GOSH, after signing up with my Hive & Twitter accounts, and I have to say I love the concept. I will make an active effort to share my Hive and LeoFinance blogposts on Twitter with the #hive & #leofinance hashtags.
Rewarding engagement and sharing is just another layer of passive income that can be earned from Hive in addition to delegated HP income, $HBD staking in Hive Savings @ 20% APR, staking $LEO & delegating LP out, as well as earning $HIVE, $HBD, & $LEO from tips and creation.
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thanks for this mega summary!
Got my airdrop 🎉🎉🎉 dumped some, placed an order for POSH. Now, send it!
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Well detailed information concerning wonderful projects , keep up the great work.
Great explanation for all those who want to know the technicalities.
For me I know that I earn posh if I share a Hive post on Twitter and earn gosh when I share a Hive post on Leo Threads!
Thats enough info for me hehe.
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Nice moving forward, That would be interesting. It will trigger some engagement for sure.
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Is there some sort of lag between posted a thread with the
#goshtag in it and when the thread is noted in the report?On Saturday March 11th I posted several threads with the hashtag, but I didn't see my name included or it appeared for a fraction of threads where I included the hashtag. I'm wondering if I did something wrong or if there is some detail I missed.
It's too late for me to upvote this post, so please accept this slice of !PIZZA, a bit of !LUV and some !LOLZ .
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@acidyo, @magnacarta(1/1) sent you LUV. | tools | discord | community |
HiveWiki | <>< daily
Did you include any Hive links in the thread?
Links were from LeoFinance and Ecency. Only links to domains using Hive blockchain.
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hmm they weren't announced in the daily poshthreads post the day after? Could you link me to the threads?
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~~~ embed:1628895909239980033 twitter metadata:MTg4NDc3MTkxMnx8aHR0cHM6Ly90d2l0dGVyLmNvbS8xODg0NzcxOTEyL3N0YXR1cy8xNjI4ODk1OTA5MjM5OTgwMDMzfA== ~~~
~~~ embed:1629227445449551872 twitter metadata:NzgxNTIzNTQyMTUyMTg3OTA1fHxodHRwczovL3R3aXR0ZXIuY29tLzc4MTUyMzU0MjE1MjE4NzkwNS9zdGF0dXMvMTYyOTIyNzQ0NTQ0OTU1MTg3Mnw= ~~~
The rewards earned on this comment will go directly to the people( @ifarmgirl, @celi130, @shiftrox, @sacra97, @noakmilo, @joydukeson ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
https://leofinance.io/threads/@ifarmgirl-leo/re-leothreads-uaz6fgig
The rewards earned on this comment will go directly to the people ( @ifarmgirl-leo ) sharing the post on LeoThreads.
https://leofinance.io/threads/@acidyo/re-leothreads-2ajlxyfqo
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Thanks for the explanation.
What is the elaboration of GOSH?
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Cool 😎
Thank you, very well explained. Now it is much clearer to me :)
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