Good Afternoon Scholars! Good Evening Scribes!
I have some exciting news to share with you all today! After hinting and discussing my plans to enable staking and curation within our beloved Scholar and Scribe community for a few weeks we have achieved our goals! It is official! The SCHOLAR and SCRIBE tokens have staking and curation enabled! Not only that- but those of you that have posted within the Scholar and Scribe community since I started it have also received a little airdrop to help us kick start things!
First off- The Airdrop! Each Hive account that has posted in the community has been issued 1 SCRIBE and 10 SCHOLAR! Do with them what you will! If you posted in the community multiple times you received the same as if you only posted once. I have done this deliberately to ensure we all start on an even playing field with our votes and curation. If you were involved in the airdrop- about 30 accounts were- consider yourselves invited to be the first wave of curators for our community! If you choose to stake your airdropped tokens you will begin rewarding content in SCHOLAR and SCRIBE, as well as continuing to earn those tokens yourself!
Below you can see screenshots of the reward pool for each token- given the responses I have received from people during discussions about the tokenomics I did not feel it was necessary to modify things from the outline I described in the initial announcement post for the community.
SCRIBE-
- This token will be author focused
- It grants 80% author rewards and 20% curation rewards
- It will be paid out 100% staked
- It takes 4 weeks to unstake and does not allow delegation
- The payout window for this token is 2 weeks
- It has a max supply of 1,000,000 tokens
- Staked SCRIBE mines SCHOLAR tokens
- Rewards pool adds 3.5 SCRIBE every 3600 seconds- with the supply capped at 1,000,000 tokens this gives us 30+ years of curation rewards.
SCHOLAR-
- This token will be curation focused
- It grants 30% author rewards and 70% curation rewards
- It will be paid 50% staked, 50% liquid
- It takes 2 weeks to unstake and does not allow delegation
- The payout window for this token is 1 week
- It has a max supply of 10,000,000 tokens
- SCHOLAR tokens are mined by staked SCRIBE
- Rewards pool adds 35 SCHOLAR every 3600 seconds- with supply capped at 10,000,000 tokens this gives us 30+ years of curation rewards.
Mining Contract-
The mining contract has been deployed as well. 5% of the total SCHOLAR supply is designated for the mining contract which will issue 7.61 SCHOLAR to 10 SCRIBE stakers every 4 hours. The 5% of the SCHOLAR supply covers 30 years of mining at this mining rate.
Loose Ends-
In my initial post announcing the Scholar and Scribe community and my plans for the tokens I mentioned holding 5% of the supply of each token in reserve. I had written this into the original tokenomics in order to have a way that I could build up the community account by offering these tokens in return for HP delegations or listing these tokens on the market in order to accumulate BEE, fund future development, or other options. As of now those tokens are still unissued.
I would rather not list these tokens on the market until our community is further along its growth path if at all. I am still considering using them to incentivize delegation to the community account though. I am hoping for some feedback from all of you that have been helping to build the community up by posting here before I make the decision. It is also possible we can leave them as they are and they will simply be added to the rewards pools. Any and all ideas of how to use this portion of supply will be considered! There is a lot we could do here!
A final note- you may see in the rewards contracts that a 1% beneficiary still exists for each of these tokens that will supply the community account if users do not use the scholarandscribe "app." We do not have the app yet so all posts will require the beneficiary! I did this in order to ensure that people who are not posting in the community but are still using the tag would be contributing to the community accounts growth anyway! It will be adjusted/removed in future!
I hope you're all as excited as I am to start curating and earning SCHOLAR and SCRIBE tokens for your creative writing content! We are really just getting started!
I hope in future we can look to solve some of the issues for longer form and serialized writing content on chain and look for even more opportunities for writers to collaborate and create amazing stories, poetry, and all sorts of creative writing! I hope we can find partnerships with other tribes and communities to keep bringing authors and readers together on chain and off! I am excited to get started!
Keep on writing Scribes! Get reading Scholars!
