Project Update

Hey everyone! Been a great few weeks for The LOLZ Project so I figured I'd better get an update out to talk about it!

More Fun with @lolzbot

Have you noticed anything different about @lolzbot? We have added a new twist to our bot that we hope you will like.

The last line of our comment always said "Use the !LOL or !LOLZ command to share a joke and an $LOLZ." That was (and still is) good to help new users understand how to use the LOLZ command, but we feel that we can probably mix it up a little now that LOLZ has been around for awhile.

So now the last line rotates between a few different lines to help folks learn about LOLZ Defi and LOLZ Dividends.

But we didn't stop there. Now every time you use the LOLZ command there is a chance you might get tipped some LUV or PIZZA.

We even dropped our favorite triple combo "!gif !LOLZ !MEME" command in there to give you a wall of fun!

We are starting to save up some PGM and BEER to be able to give those tokens out soon too. Who knows, we may even PIMP slap you some time in the near future!

This new code is also going to be used to rotate some promotions from our partners as part of LOLZ Ads in the near future. More on those plans in a future post.

New Token and Frontend In Our Future

We have mentioned before that we had plans to make LOLZ stakeable and make it a tribe. Well, we have been reconsidering that plan. Frankly, we like the balance we have created with the LOLZ token and LOLZ Defi and don't want to mess that up by increasing the inflation rate by turning it into a tribe.

So does that mean we have given up on the idea? Oh heck no! That isn't how we roll at The LOLZ Project.

So rather than risk screwing up the LOLZ tokenomics we have worked so hard to create, we have decided to create a sister coin (two actually) and build a tribe around it. The new tribe won't just be about jokes, but comedy, memes, funny stories, games, and more. Basically a one stop shop for all things fun on Hive.

While we are still working out the details, we are planning to create the new token and a mining token. We will be selling the mining tokens to fund the new tribe to allow staking and eventually delegation of the new token. We are also planning an airdrop of the new token to our LOLZ holders too so keep building those stacks!

Keep an eye out for future details. We have some learning to do yet on exactly how to manage a tribe and reward pools as well as setting up a mining token. But it is coming, be sure of that.

THGaming Collaboration

Maybe you already saw this post from @thgaming, but the LOLZ Project has teamed up with @thgaming! We scored a big THGAMING delegation in return for a commitment to contribute to there diesel pool.

In addtion, I (@captaincryptic) traded all my LOLZ for THGAMING (and some BEE) to add even more upvoting power to our THGAMING and BEE curation bots. And more curation power means more tokens for our users and more dividends for our holders! Please don't take this move as me selling out - I want my tokens back - so I have been increasing my delegations to farm more LOLZ! I'm not just the owner, I'm also a customer! LOLZ

We are working to build more collaborations and can use your help! If you happen to be chatting with @raymondspeaks, or @enginewitty, @thelogicaldude, or any of the other tribe owners - put a good word in for us!

Now Holding Requirements

As we posted in our last update, on June 1 we increased our holding requirements for using the LOLZ token. The new holding requirements are as follows:

While we never say never regarding increases to our holding requirements, we are pretty confident that we won't need to do any more increases for quite some time if ever.

New Restrictions on Use

As we have mentioned, The LOLZ Project has joined several of the other tipping token owners to address abuse of the tokens. One thing many of us have agreed on is that there are some users that are abusing the tokens by creating "contests" or other games that are just intended to create comments where the participants can tip each other in the comments.

While we support the idea of using the tips in games and contests, we feel the degree to which some have taken it crosses the line into abuse. Users are not just tipping one, or two tokens, but whole walls of tokens in one comment.

So to address this misuse we at The LOLZ Project have decided to limit the number of other tipping commands that can be used with LOLZ to just one other command. So you will be able to use !LOLZ with !PIZZA, or !BEER, or !LUV ... but you won't be able use it with !PIZZA !BEER and !LUV.

Two exceptions will be allowed. The !GIF and the !MEME commands will not be counted towards the limit since these two commands aren't really tipping tokens and we think they compliment the LOLZ token.

We will be implementing this change in the coming week so please plan accordingly. BEER has already made this change, and LUV and HBITS will be implementing it in a few days.

As we have said before, if you are using our tips as a way to benefit yourself you are on slippery ground.

Ending Token Buy Backs

As you likely know, we are creating two automated posts each day to share the LOLZ Farming details. Until now, the HBD earnings for those tokens have been used to first pay the LOLZ server costs, and then to buy and burn LOLZ tokens by building a buy wall.

Because the market for LOLZ has been pretty solid, and the earnings pretty weak, we have decided the buy backs will have little impact on the market for LOLZ token and that those earnings would be better used to help develop The LOLZ Project.

As such, starting with next weeks posts, all HBD earnings form the automated posts will be used to pay bills and support development. The HBD earnings from previous posts has been used to create a buy wall, well maybe a buy step, to help prevent major sell offs. Those funds will remain until/if the wall is hit.

To-Do List

We made a little bit of progress on our To-Do List, but have started adding some items too.

• Add new tokens to LOLZ Curation
• Add new tokens to LOLZ Defi
• Add HIVE delegation to LOLZ Defi
• Work on more collaborations with tribes
• Start daily LOLZ Contest
• Create new tokens
• Setup new frontend
• Restrict use of multiple tipping commands

LOLZ Free For All

What would an LOLZ Update be with out a LOLZ Free For All? You can earn upto 3 LOLZ in this giveaway!

• Drop us a comment below (1 LOLZ)
• Tag a friend in your comment (1 LOLZ)
• Re-blog this post and tell us you did in the comments (1 LOLZ)

About the LOLZ Project

The LOLZ Project is an engagement project with the mission of spreading laughter and joy on the Hive blockchain. Hive users can use the !LOL or !LOLZ command in comments to share a clean joke and tip the author an $LOLZ token.

Help Support the LOLZ Project

Here are some easy ways you can help support the LOLZ Project -

• Use the !LOL and !LOLZ command often to tip fellow Hive authors.
• Upvote and re-Hive our posts. All rewards will be used to help cover server costs and increase curation value.
• Delegate Hive tokens and HIVE to earn LOLZ Farming rewards.
• Follow @lolztoken and participate in our airdrops, contests, and giveaways.