You may be familiar with Hive's Decentralized Autonomous Organization (DAO) the DHF. It stands for Decentralized Hive Fund and it's a pool of money that gets fed with 10% of all newly minted HIVE. The funds are used to finance projects that improve HIVE in one way or another. Some projects require development, some are more geared towards creating awareness and all are voted on by the community.
If a project is voted past the minimum requirement called the return proposal, it gets funded, if it doesn't get more votes than the return proposal, it doesn't get funded.
image source: touchandchange.net
As you can imagine (or may have witnessed with your own eyes) this mechanism can sometimes be complicated, involving politics, campaigning and sometimes hurt feelings and digital warfare. It is what it is.
On the very first episode of Hive Thrive, during the Q&A segment, @blocktrades made a suggestion about an alternative method of requesting funding for a project: pure upvotes.
You see, content creation/curation on HIVE receives the largest amount of newly minted HIVE tokens, a whopping 65% compared to only 10% that goes to the DHF.
So it makes sense to come up with initiative that add value to the Hive ecosystem and tell the community about them by making posts. Hive citizens will find your posts and upvote them, creating a stream of income for your project. If you'd like to take this a step further, you can help providers create a HIVE account and pay them in $HBD, thereby creating a healthy, circular economy.
Budget
Figure out how much things are going to cost. Let's say you want to put together a HIVE meetup in your city. You're going to need a venue, maybe some snacks, some promo material. Let's keep this example simple and say this is your budget:
| ITEM | COST |
|---|---|
| Venue | $200 |
| Promo material | $100 |
| Snacks | $100 |
| Panning and production | $100 |
So you now have a budget of $500 to put together an event. You can now start talking about it on HIVE and web2, discussing what you aim to get out of the event and what value it adds to the ecosystem.
Hive citizens will start finding your content and upvoting it, thereby fulfilling your project's budget requirements.
You can also start finding (or creating HIVE suppliers)
Hive Suppliers
By teaching folks about HIVE and helping them create a HIVE account, you can use the funds you raised for your event to pay them directly for their products or services. You can also have other suppliers, for example, a bartender at your event that attendees can pay using Keychain or soon maybe even a Hive debit card. By doing this, you are showing people how alternative, parallel economies work and you're doing it LIVE!
Because of this idea, I've created an account called @hivefunded, which is the beneficiary of 100% of the rewards from this post. The first event I'm going to put together is a crypto meetup. I'll share more information on this as the idea matures, but basically I want to educate people on a few topics such as
- How blockchains work
- How to self-custody
- The importance of building parallel economic systems
- Ways to monetize your craft on HIVE
What I hope to achieve is a recurring event that brings new crypto curious people to HIVE and helps develop a little HIVE hub in my neighborhood. We talked about this concept with good ol' Buttcoins and Starkers a while back.
Post here. Video below.
Anyway. This is an experiment. We'll see if it works.
Thanks for reading and supporting.