There's been some development going on with @poshtoken lately so wanted to update everyone on it.
We discussed in the last post how we might bring in a "delegation to earn posh" option. This was discussed and thought over for a while, as we initially wanted to keep earning $posh solely by only sharing hive links on centralized platforms to drive in traffic to Hive and get more readers to maybe join and engage on your posts. With that in mind the percentage of the daily issuance that will go to people who delegate will not be high. To begin with, no one should expect that it will be worth it on a monetary ROI level. As you can see by its price chart:
the average price the last few weeks after an initial "pump" by myself of a total of 60 Hive caused it to go to 0.12 hive per posh and then back down. Needless to say POSH is very illiquid, some who earn it either sell it on a constant basis or others just hodl with very few attempting to time and wait it out to place sell orders when they see some movements happening. Meaning even if you want to buy in and speculate on it it will be very difficult to do so on a larger scale unless you've been very patient and active placing buy orders in the past and picking up what gets sold. This type of tokens are very common when they're young and unknown.
With that said, the delegation option will make it a bit easier for people to "buy" into the token for long term speculation but it will be limited as the main issuance should still go to earners sharing Hive links onto Twitter and in the future possibly other platforms as well.
I believe this will be a good balance between people wanting to buy into it with delegations, early adopters who've earned $posh by sharing now seeing the daily issuance of 500 hive diminish a little in that regard and at the same time the Hive returns from the delegations being used to place buy orders onto POSH and burning the tokens from circulation. Which should be a win-win for both delegators and earners seeing the price possibly go up without even any great usecases for it yet, but we'll get to that.
Percentages are yet undecided, only thing that's certain is that the 500 POSH daily issuance to earners will drop as part will go to delegators.
$POSH PETS
An artist has been found for POSH PETS and hired for a test run. We'll be seeing the outcome of the first couple of pets (a cat and a dog) and if we're happy with it for the POSH PETS NFT we're planning on creating.
A tl;dr of POSH PETS as of the current ideas:
Users buy an NFT with Hive/HBD, the art is generated at random (we'll do our best to make this provably fair by using hive blocks mixed in the generation seed so you can trust the rarity will be as random and unaltered as possible) and upon minting you'll get to see the outcome of the POSH PET you purchased.
There will be a mix of different dog and cat breeds with different traits and accessories/clothes. Imagine a golden retriever in a shirt and tie or a cat wearing a Hive cap, etc. Them having different eye colors, different fur patterns, etc.
With the NFT, you'll be able to start earning POSH passively similar to delegating Hive to @poshtoken, the only here will be that not only will you earn a different amount compared to your POSH holdings, but it will also depend on what kind of NFT you have (or how many). Different traits in the NFT will give you more points to earn from the "staking". Another thing is that these POSH that are sent out to POSH PETS NFT and $POSH holders won't come from the daily issuance but will be be bought up with part of the Hive/HBD you purchased the NFT's to begin with.
More details on that to come, but one thing I want to make sure is known is that we'll also be paying off any amount of work that went into creating the NFT (such as the artist(s) and dev(s)) to make sure the @poshtoken project continues to be community funded and driven with no single beneficiary or middleman getting extra rewards or a cut from it. We'll attempt to be as transparent as we can in that regard.
We hope to showcase some POSH PETS NFT examples with you soon, so stay tuned for that and some more juicy announcements and possible collaborations! Until then the delegation option will soon come online so we'll make an announcement when that's ready.
If you have any questions about $posh or @poshtoken feel free to ask in the post, if you're not signed up yet make sure to head over to https://hiveposh.com/ - authenticate with twitter real quick and use hivesigner or hive keychain to connect both accounts to be able to earn POSH for sharing hive links onto Twitter with the #hive tag as the only requirement!
50% of post rewards being sent to @poshtoken for future development.
