MEME Token and MemeHive Tribe
Almost a year ago I created the MEME steem-engine token. Today, I burned all the steem-engine MEME I had (transaction ID) and created the new MEME token on hive-engine.com (transaction ID). I also created the @memehive account (transaction ID) and transferred MEME token ownership to it (transaction ID).
My plan is to start a meme tribe on hive.
For anybody with MEME steem-engine tokens I am offering a trade-in deal during May 2020 for the MEME hive token.
Since there are a lot less hive MEME tokens than steem MEME tokens the ratio for trade is 10 (ten) MEME steem tokens for every 1 (one) MEME hive token. For example, 100 steem MEME tokens for 10 hive MEME tokens.
Here's how the trade-in offer works:
- Send your amount of steem MEME tokens to @null for burning.
- Reply to this post with a link from steemd.com for the MEME token burning transaction so I can see it.
- After I have verified the transaction occurred I will issue the hive MEME token trade from @memehive.
It may take up to 72 hours from the time of your reply to this post requesting hive MEME tokens for the hive MEME tokens to be issued. I will do it as quickly as I can but I can't guarantee there won't be delays. This is all being done manually.
The trade-in offer is only good from the time of this first posting through the end of May 2020 and is based on the steemd.com transaction timestamp. Any transaction with a June 2020 or later date will not be valid.
After the May 2020 trade-in offer ends no more MEME hive tokens will be produced until after the basic meme hive tribe is fully funded.
Even if all the steem MEME tokens are traded in that represents less than 10% of the total maximum hive MEME token supply.
Plans for the meme hive tribe:
Currently I have personally funded the @memehive account with 1,030 BEE tokens and I have an active open BUY order for another 70 BEE at 0.75 HIVE each.
The minimum basic tribe costs 2,000 BEE (1,000 BEE for staking and 1,000 BEE for SCOTBOT Initialization). There is also a rule about tribes staking one BEE token for every active account that stakes the tribe's token. Therefore, the current 1,030 BEE is enough to purchase staking and to cover 30 active staking accounts for MEME.
All that's left is to get 1,000 BEE more which costs roughly 1,000 HIVE. I've already started a full powerdown of both my @holovision SP and HP to help further self-fund the tribe. I've also issued 10,000,000 MEME to @memehive as my share of the trade-in deal for burning steem MEME. The price of hive, and thus the BEE token, has rapidly increased in the last two weeks. Hopefully what my powerdown can't cover for the 1,000 tokens for SCOTBOT @memehive selling hive MEME tokens will. Of course, having a trade-in offer means @memehive will be competing against anyone who trades in their steem MEME and tries to sell hive MEME.
It's not a question of if but a question of how long it takes to raise the remaining funds.
When @memehive reaches the 2,000 BEE goal the staking parameters for MEME will probably be set at a 28 day unstaking window with four payouts during that time.
For SCOTBOT settings for the MEME token this is what it will probably look like. The parameters might be changed a little bit. Anybody can also leave a reply comment to this post about their thoughts on this:
Author Curve Exponent: 1
Token Account: memehive
Promoted Post Account: token.fee
Author Reward Percentage: 45
Beneficiaries Account: token.fee
Beneficiaries Reward Percentage: 5
Cashout Window Days: 7
Curation Curve Exponent: 1
Downvote Power Consumption 200
Downvote Regeneration Seconds:432000
Issue Token? True
JSON Metadata App Value:
JSON Metadata Key: tags
JSON Metadata Value: meme
Reduction Every N Block: 10512000
Reduction Percentage: 5
Rewards Token: 5
Rewards Token Every N Block: 1
Voter Power Consumption: 200
Vote Regeneration Seconds: 432000
Vote Window Days: -1