Proof of Brain Tribe Early Evolution - Lessons Learnt
Only a week ago, the Proof of Brain Tribe was born. The aim of the tribe was to have the fairest token distribution possible.
The token spread was through the ProofofBrainio account holding only 1 token initially and upvoting content to spread the initial tokens out via POB! When I first saw this tribe and the plan for the token dispersion I was very intrigued and started using the tag.
Initial returns for posts started out around 4000 POB per upvote from the ProofofBrainio account and I was pretty optimistic knowing that the token would be distributed to early adopters pretty evenly.
The shock was that there was a flaw in the distribution model and this was jumped on by an account. This account staked the first amount of tokens rewarded (not a large amount) but this gave them some initially enormous voting power for POB. This account then self-voted a comment, resulted in a 32k payout. Once staked this payout sent this account to the top of the richlist and meant the ProofofBrain accounts initial vote with 1 POB sent returns for all other POB posts to close to 0.
This is obviously a flaw that has been identified and apparently fixed in the code for future tribes. The team has also decided to try and address this situation by back-dating rewards and sending these out to posts and the account that received the 32k initial payout has agreed to unstake and return the 32k POB to help the tribe continue. Without this generosity I don't think the tribe could have survived with any value or meaning as this one account had the power to vote and receive significant rewards.
Post payout after 7 days and curation and author rewards are 50/50. Proof of Brain Token Whitepaper
I am keen to see where this tribe now goes and how other new tribes can learn from the issue that POB has encountered. I'll keep earning, posting and staking to support another fledgling tribe. Check them out and earn rewards by using the #proofofbrain tag.
Thanks for reading.
I am a little disappointed that some people got over 2000 POB payouts but mine was reduced to 0.37674381 POB. Oh well I have some more coming in now. Its all good fun!
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I think in the first week only the community owner upvotes got 4000 POB worth .
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There were a lot of larger payouts meant to go to early authors but the large payout, once stakes, removed most of the rewards from these initial posts.
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I get it but this people who have staked the tokens aren't voting yet?
Their upvotes must be worth a lot right?
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Because of the problem, the reward pool had to be slowed down, but manual distributions are being made to make up for people who had payouts shrink. The reward pool will be sped back up to normal speed in a few days and things will be back to normal. For now, you are actually earning more than your payouts show because you will be receiving a distribution to make up for the payout that you missed out on.
Thank you for your reply, I appreciate the explanation. I am enjoying the ProofOfBrain community so far!
I actually was lucky to get my reward early and stake it. I never did any self-voting. I think my posts are going to be the least rewarded, this week. I am voting reasonably good articles. They have to be longer than two paragraphs. I am not voting up D.Buzz but I am not flagging anyone unless its something really bad like phishing and things down at that level. Self promotion is fair game. John a dull boy", repeated over and over. If you haven't got flagged by hive users before you wont likely be flagged by me.
sound like a good tribe to join in. but don't really undertsand all the technical stuff around it.
nice that they have been fixing the flaws.
Posted Using LeoFinance Beta
Thanks for this explanation! I just heard of POB a few minutes ago - I appreciate a consideration for fairness in token distribution, so I'm excited to watch this Tribe.