The Real Story - [LeoFinance Challenge] - Part 3

While this part is stand alone in the sense that I won't go into any major details about Hive or Steem like I have done in my previous parts, I still recommend reading the previous parts as well to get a better picture of things and to understand more about my experience. This is the last piece of this puzzle.

You can find the previous parts here:

The Real Story - [LeoFinance Challenge] - Part 1
The Real Story - [LeoFinance Challenge] - Part 2

I know that it is not fair to compare Hive with LeoFinance and truth is that LeoFinance wouldn't exist without Hive. Comparing the two doesn't really work and even though it's not likely to see Hive change things to be more like LeoFinance, I personally think that LeoFinance is what Hive should have been, or should become, but I know the chances for that to ever happen is slim. Hopefully, more communities will solve this going forward.

LeoFinance is outstanding in various ways and Hive and other communities have much to learn from the success of LeoFinance. Perhaps even more importantly, influential users and leaders have much to learn from LeoFinance and I truly hope they will take certain things into consideration going forward..

What Makes LeoFinance So Good?

In the last part I talked about the 50/50 rewards we have on LeoFinance and that curators can vote on whatever content they want, whenever they want, and still split the rewards with the authors.

The 50/50 split is according to me, the best approach for several reasons. One of the reasons is that it's easy to understand for everyone. We all know that LeoFinance is crypto- and finance related, but LeoFinance is appealing for literally everyone, as people in general are interested and eager to learn new things and share their experiences with other like-minded people.

One could say that the niche of LeoFinance is narrow, but that's only when you compare it to Hive for instance, which is not niche-oriented at all. The truth is that you can talk about crypto- or finance for years and the limitations of content are non-existent.

It might be difficult for an author to come up with new ideas for content, but being on LeoFinance doesn't make it harder like some might think at first glance. In fact, it can actually be very easy to get new ideas and produce content on LeoFinance, even though it's crypto- and finance related content.

You Just Need To Ask The Right Questions:

This is obviously just to give you an example, but in January this year there were 2000 different cryptocurrencies. In other words, 2000 articles if you make things easy for yourself, or, if you look at the bigger picture, it is 2000 topics you can produce tons of content from.

However, the 50/50 rewards are important because it makes things easy for everyone. Curators doesn't have to compete with other curators for the best curation rewards and there is no need to spend a single second in an attempt to learn how to maximize curation rewards.

Each token that are being distributed has an impact on the whole community, and platform, so having an easy to understand distribution obviously plays in our favor. Everyone can easily understand how the distribution works, which makes things fun and interesting even for the average users.

Tokens Are Spread Far And Wide

One of the biggest problems with Hive (and Steem) is that 'the rich gets richer', and that the same authors are on top of the trending pages on a daily basis. Many of them multiple times per day. (Hive has improved regarding this and this is not as common nowadays as it was previously.)

This is something the majority of the users have raised concerns about for years, and like I mentioned in Part 2; Hive is not easy, so competing for rewards with well-known authors are difficult as it is. I would say that it is almost impossible to end up on the trending pages as a newcomer on Hive and even though people might never aim to do that, they still want to feel like they have a chance.

Once they realize that they are not likely to ever end up on trending and they realize that it is actually difficult to be rewarded on Hive, most of them give up. They give up after being filled with anger, despair and the feeling of being overlooked.

So, it's not likely we will see them again once they are gone.

That being said, this is where LeoFinance excels, shines and impress the users. We have already established- and well-known authors on LeoFinance. We have wealthy Lions, but they are not taking over the popular posts or are being picked by LeoFinance curators frequently, so even though they earn rewards due to their audience and the support they have aquired, (like everyone else), they are not being rewarded heavily just for the sake of being rewarded, which is more or less what we have seen for years on Hive and Steem.

This obviously encourages people, but it also shows people that anyone can be rewarded on LeoFinance for their content rather than for who they are. Just look at the curator's picks and see exactly what I'm talking about. We have new Lions with minimal stake being curated and being picked by LeoFinance curators.

This is motivation for all the new authors.

On top of that, we have engagement and good leaders. Whales and other wealthy accounts work together with lesser accounts in an attempt to increase engagement and to encourage, inspire and motivate others. We see users reward comments frequently which boosts the engagement level, but it also encourage users to participate and to be involved.

With all these things, we strengthen the community, making a sturdy foundation to build on, and that is the most important factor for the success of LeoFinance according to me.

Posted Using LeoFinance ^Beta