1k POB staked goal reached
One of the more recent communities in HIVE that came out is the Proof Of Brain tribe. As it is fairly new, I think having 1k POB staked is a huge milestone. It is currently a growing community with plenty of activity. You can see that my POB staked is now over 1k now after staking 44 POB in this transaction.
What is (POB)?
POB is the Hive Engine token for the Proof of Brain community. The POP whitepaper has stated this token can only be minted by making posts/comments and curating content. When the token was launched, there was no extra tokens airdropped to people and the founder.
The design of POB token is inspired by Bitcoin, Hive, and LeoFinance.
One of the things that makes POB different from the other tokens on HIVE is the tokenomics. The inflation model is based on Bitcoin so after four years, the amount of tokens being produced will be cut in half. At the same time, it has a similar linear rewards model like LeoFinance so you get half of anything you vote on and you won't give up some of your POB to early voters.
Why I like POB?
The major reason why I like the POB token is because it is a general tag. So it is inclusive and allows a large variety of content from crypto, games and even movies.
Another reason why I really like the POB tribe is because of the how the balance structure is spread out to include many different people. As it has a linear structure, I think it also incentivizes people to upvote comments and encourage engagement.
In one of the recent posts by @amr008, he has analyzed the data happening in POB over the past month here. In the picture above, the top two earners are community accounts and it is being spread out between the rest of the tribe competitively. So there is no specific whales taking up a huge majority of the created POB tokens.
Like I mentioned in the previous section, the inflation of the token will be cut in half and every token before will be worth more. So if I continue to stack, I will have a sizable amount due to the decreased supply a few years from now.
How do I get POB?
- Author rewards
- Curation rewards
- Comment benefactor rewards ( Means someone adds you as a beneficiary for their posts )
- Token benefactor rewards
Besides making posts, there is another way to get Proof of Brain and it is through Hive Engine. So you can always convert your earned POB into HIVE or buy more POB to increase your own stake. I suggest you stake the POB though to get more rewards because you can earn POB by voting on content as well.
I think the current price action of the chart shows how people see the future of the tribe. There just isn't enough POB on the open market so the prices just keep going up. As of right now, a single POB token is worth $0.623 and the volume in the past 24 hours is $1,757.
As of right now, I think the best ways to earn POB is to make posts and comments. In fact, the engagement project run by @amr008 rewards people with POB upvotes when they make comments on the POB front-end. Of course the competition is quite tough over there right now and you may need to leave a few to qualify as the top 25 commenters that day. In the picture above, you would of needed 4 different comments to make the list.
At the same time if you don't have time to curate POB content, you can delegate it over to @amr008.pob as part of the Engagement Project to receive dividends instead. As of the latest dividends report, the current APR is 339.8%. As he makes posts generally daily, he adds the author rewards to the total pool to increase the APR after taking his cut.
So to summarize, I like POB because of the following points.
- for general content (inclusive)
- linear rewards structure (encourages engagement)
- community (spread out to many people and not concentrated)
- tokenomics (halving cycle reduces inflation in a few years)
The only downside I see right now is that there is no use case. I have heard of talks to revamp the current front-end so its not the general HIVE condenser front-end. I believe the funds for doing this will be paid using the pob.funds account which has been accumulating the taxed POB tokens.
Please feel free to leave a comment if you read my post. If you have any questions, feel free to ask and I will do my best to answer.