Value Plan activities happen in countries where we have willing community members to develop activities and broaden our reach. There are some countries where we simply can't operate. The number of countries is expanding. The fact that we got into this Monaco race is monumental as it is; last year about half the participants were cut. We are showing Hive as a brand and promoting it as a place to build on. Aside from the focal points of the car and other activities we also have a strong b2b infrastructure and numerous invitations to conferences, which we never had before. We spoke about this before.
The impact mostly lies in the promotional reach for Hive. Until recently, VP had regular onboarding out of scope because at its inception there were stakeholder concerns over the value of users who are not investors. That is now picking up and we are finding many onboarding gaps, so much so that the conference platform which you see above had to be made. It is now being used for other activities.
VP has a minimum of $1,200,000 annual budget, or 10% of all current hive inflation expected for 2024! (including all author and curator inflation.) Is the DHF decentralized when a few individuals (some of whom are witnesses and large stake holders) control the decision making for spending 10% of the entire blockchains' inflation?
A potential investor may wish to know if the VP (marketing) team is qualified and how effective their prior experience managing such budgets has been? How is their performance measured and what was the criteria (governance) used to select the Value Plan Team besides surpassing the return proposal in the DAO?
The lack of transparency in evaluating the effectiveness of past VP sponsorship performance in adding value to Hive is a cause for further concern. The VP is sponsoring those who are willing to develop activities in countries where you can operate but how effective is this versus just reaching out to people over the web and running virtual events? I understand your 'monumental' appreciation for rally cars but is that the best place to reach out to movers and shakers in the web 3.0 community? How does the impact of spending $100,000 on a rally car compare to spending $100,000 on another sport sponsorship?
Is purchasing T-shirts, physical banners and sponsoring select minor events in an expanding number of countries the best use of funds versus buying clicks where we know the viewers are already interested in web 3.0? How much expertise and budget is available for promoting Hive online? I'm sure we've tried this but when was the last time and where was it tried? Have we tried again? Are you using an online marketing professional who has experience in web 2.0 advertising and promotion? Again what is the selection criteria of that individual?
I am just asking questions that any potential investor doing proper due diligence would ask. This is called the value plan which implies there is value, how so? Considering Hive used to be a top blockchain project and is now sitting in the mid 300's for market cap, we have to wonder, is putting 10% of all inflation into the hands of a select group of individuals who may not be marketing and financial professionals appropriate?
I say this as professional in evaluating budgets, making financial plans and helping with the management of large sums of money. I've also managed e-commerce advertising campaigns and evaluated them over a number of years so I know how difficult this can be. Are we able to get a performance report and future evaluation criteria from a proposal asking for 10% of all inflation? If not do you require help making one?
I hope you can at least understand the need for such a thing.
Let me address these separately in a post if you don't mind.