During our Beta Testing Phase we have learned alot and have decided to focus on our core business model which is rewards distribution when People Exert Effort. Our “Pee Theory” states that, If a person exerts effort to receive the rewards whether it be points, credits, discounts or cash they tend to value the rewards more highly than when they are simply given rewards for no or little effort. We developed an internal off chain points system that allows users to be rewarded for doing different tasks on the platform. The rewards are a fixed amount for all users and not based on staking. This equitable rewards system could be thought of as a “minimum reward” for efforts. People who perhaps have greater skill in content creation or social skills could potentially earn greater rewards through community interactions such as viewing, commenting, likes etc. The minimum reward could increase or decrease as needed for velocity or if inflation exists due to an over saturation of the currency on the markets.
Stish Credits the rewards points system will be automated to convert Stish Credits into Stish Crypto for user accounts which have an Ethereum wallet address added. Stishit will soon provide a temporarily wallet address for all new users that join the platform to help with this. It is temporary because users will be encouraged to create wallets that are super secure using META MASK or My Ether Wallet or a hardware wallet or by creating their own node and generating their wallets directly from the network. For those new to Crypto Currencies, Stishit will provide an easy way to get started earning Stish credits and an easy way to receive Stish Crypto Currency.
Stish Crypto Currency was developed on the Ethereum blockchain. Non-Exchange generated ether wallets will generally work with Stish crypto currency. To use Stish you will need a wallet that you own and have access to the private key. Many exchange Ethereum wallets like Coinbase etc are controlled by them and generally you will not have access to tokens sent to these wallet addresses. We will work to enhance our exchange listings but have decided to list Stish on Radex.ai so that new users can easily learn one exchange that is easy to use and has low fees for trading!
Let’s Talk Numbers and Business.
By putting everything out in the open we feel that speculators looking at our platform should have even more trust for our brand and what we are building not only now but in the future. Things need to be clear and communications must exceed expectations set forth by the community.
In the original white paper we laid out plans for a smaller amount of rewards based distribution. We also were simply using Stish as a proof of participation token. People could buy whole tokens that represented their stake in the Upvote bot for Steemit. With flagging rampant and many members becoming annoyed with the community development of Steemit we decided as a group to shift our whole focus on building our own community and currency around our own fair and equitable rewards based social platform.
Let’s first look again at the original white paper’s numbers:
- See The Stish Token On EtherScan https://etherscan.io/address/E743b591A9fbF593Ff2214c4B3B7c9Bf1122431A
- The Name Of The ERC-20 Token Is: Steemish
- The Symbol Of The ERC-20 Token Is: Stish
- The Amount Of Decimals Is: 0
- The Amount Of Total Created Steemish: 10,100,000
- Supply And Demand Economic Model With Advanced Utility Functions
- No Pre-Mined Tokens
- Hybrid Centralized and Decentralized Build (The Future of Crypto).
- This Crypto Will Be Sunset and The New Crypto Will Be Air Dropped To Existing Addresses Holding Stish. We Will publicly announce this update across all platforms.
Now Let’s Look At Stish2.0 Numbers:
- See The New And Improved and More Secure Stish2.0 Token On Etherscan: (Link Coming Soon!)
- The Name Of The ERC223 Token Is: Stishit
- The Symbol Of the ERC223 Token Is: Stish
- The Amount of Decimals Is: 4
- The Total Amount of Stish to be created is 100,000,000
- The currency relies on 2 economic principles. One being the supply and demand principle and the other it the Quantitative Theory Of Crypto Currencies.
- There were no pre-mined or pre-determined distributions accept those listed in the founders fees section.
- Stish is built on the Ethereum blockchain while Stishit is a hybrid off chain on chain solution to crypto currency rewards distribution.
In A NutShell!
- Over time as people exert effort to earn Stish crypto currency and circulation decreases with increasing demand through multiple utility functions that will continue to be developed and tested, that there will be a market/or markets developed for the trading of Stish due in part to the large amount of distribution.
The original founders and early adopters of the platform received Stish to say thank you for their efforts. The original amount distributed was 1,000,000 Million Stish divided up based on the time period in which you join and the leadership roles members took within the formation of the community and other social portal. We can not grow this micro crypto economy alone and we are thankful to everyone who creates content, comments, welcomes and recruits others and generally wants to be part of a special group of people set out to build a serious non corporate sponsored community with member’s best interest at heart! With the expansion of the currency we will also airdrop an increased amount of Stish2.0 Crypto to all holders of Stish original.
We will reserve and distribute upon creation no more than 5% to existing holders of the original Stish tokens!
Future Development Costs:
- Some have said that 5% future development costs are a bit cheap. Keep in mind we are a hybrid build with different costs structures when compared to other offering. We will be running somewhat like an electric co-op in that we are not making loads of money unless we are successful and we essentially just want to cover operational costs and transaction costs etc with our first raise from the token event. This gives us incentive to work hard and do great work.
- We prefer to never sell members data for marketing purposes. I personally have invested over $10,000 USD to date into the website and will continue to fund operations until the platform can stand on it’s on. The website has over 1000 man hours of development and counting. There is a lot invested and some websites have us valued fairly well based on traffic and users. We could monetize the website with advertising alone and do well, however none of us really like ads.
- We will reserve 5% for possible future sale to cover development/or legal costs.
- Our ultimate goal with marketing is to acquire new users who will add value to the community and currency. Ideally we will add members that create content and exert effort who value their time in a way similar to the way people value their time in the real world. We would expect there to be some who think their time is worth more than others and that this will create some trading opportunities between different groups of people from around the world. As a whole we tend to see people demanding increasing wages for their time in the real world over time. So as more and more people move to the online micro crypto economies we think that this same value pattern can be applied to Stish Rewards.
- The addition of quality members will cause natural and organic growth of the platform. We can advertise through various marketing channels online. Some of the competitive channels will be used such as Facebook, Twitter and other social media platforms. Our target market are those that are already adjusted to social media but are perhaps frustrated with censorship of those platforms or the violation of privacy etc. We can look to existing people involved in crypto currency also.
- It is wise to work to build our telegram platform and discord platform for recruiting new members and discussing the platform and the benefits that users can receive. Part of our marketing will actually be educating consumers on basic economic principles and helping them understand how crypto currency in general has value and especially how Stish has value. We will need to market and educate new users in areas such as creating wallets, buying Eth or other cryptos, trading and selling crypto currency, blogging and micro blogging tips, how to use Stishit to monetize other social media platforms.
- Marketing can be done through our affiliate program or referral program to be developed
- We can run contests with bonus Stish distributed for those that sign up or write posts on other platforms or create videos! This is my favorite marketing approach for many reason but mainly because it focuses on helping members and user acquire more Stish and grow the platform themselves. A grassroots movement can be successful where millions of USD spent on advertising might be a waste in getting users attention.
- The old saying is true, It is hard to beat word of mouth advertising! Stishit needs all members to have an incentive to grow the community naturally and organically over time. One way they have this is because they receive Stish crypto for their efforts and want to generally trade this Stish for another Currency of Fiat at the highest price possible. In order to do that there needs to be a large amount of people holding the currency and there needs to be varying levels of values on time. So there has to be people who value their time and varying values to create a trading situation that benefits all parties involved.
- This doesn’t mean that some actually value their time for an unequal amount. If could simply just be that the cost of living in their country is lower than others and they can afford to trade their Stish at a lower price than other countries. The down side to this model is that over a long period of time a prosperous country could acquire a dominant share of the crypto and stabilize the value so that trading values are not as likely to have big swings in the later years as they do in the early times.
- Essentially people that get in early with Stish have the greatest risk but also the greatest opportunity for trading profits and if they choose to hodl should see a steady reliable market over time as distribution supplies dwindle depending on the utilities we put in place that could have an effect on velocity and re-circulation of the currency which is important for a long lasting token.
We would prefer to reward members rather than huge corporations for grass roots marketing projects!
We will set aside 10% of all Stish2.0 Crypto Tokens for marketing rewards contests, spiffs, bonuses, perks, etc. Some people will create videos in exchange for Stish crypto or create viral memes etc while others might only accept fiat. We will opt to increase circulation and do business with people that get our community and appreciate the value Stish has whenever possible.
Tokenization Of Our Stish Credits Rewards Pool:
This section is where the real complexities of the budget and financial allocations reside. Let’s be very clear and upfront that the rewards pool funding is a very cheap way to distribute the currency to as many people as possible and also encourage the overall growth of the platform. When people have some skin in the game they tend to perform better.
As members join and start to do work by interacting with the community through comments and writing blog posts which in turn helps drive more growth, they feel empowered. We have a theory called PEE that has been tested.
This new found ability to earn some rewards points and turn those into a tradeable Crypto Tokens called Stish is very enticing. The desire to earn rewards doing things that people normally do for free on other platforms anyway is exciting. Members will often brag on other social media about how great their experience is and will write articles about the platform.
This concept of rewarding people for work is nothing new. Just the works these people are doing is for themselves not some huge corporation. Most capitalist free markets are really incentive based markets. The Micro Economy of stishit works off of some of those same principles.
When members of Stishit write articles, comments, make friends, refer new people, and more they earn rewards points we call Stish Credits. Users can exchange them for Stish Crypto Currency. The exchange rate can be adjusted as needed to curb how much Stish is being created from the rewards program. The rewards program is a fantastic way to get the word out and grow a social network. This could have been placed under marketing but we like to be transparent and describe what we are doing and why.
This will allow for some new people not very familiar with crypto currencies to earn some points and trade those points for real world blockchain based crypto currency called Stish.
By tokenizing our rewards points we in effect create a community full of eager participants wanting not only for themselves to succeed but also other members of the community. This might be the only time in all of our lives that technology has allowed for such life changing innovations and we hope that you will be a part of it all.
We Will Allocate 50% of Stish Crypto For The Rewards Pool!
We and many other have invested large amounts of time and money into developing the currency platform. We have a huge road map that we would love to pursue over the next several years. We believe we are finally at the point that shows proof of concept and have worked out most of the bugs with the system thanks to so many early adopters testing things out. We think it is time to take things to the next level. We will need to raise at minimum around $100,000 to finish development and cover operating costs, cover some legal costs, and cover the transaction costs of the initial distribution. We will need funding for placement of Stish on exchanges such as Poloniex, Bittrex or others. We will need to pay a few developers for some advanced coding and also pay some marketing companies in a fiat currency. It would be awesome to hire a few people full time and have the funding to guarantee wages for several years. $100,000 will allow us to ramp up and get the ball rolling. Once we are successful at this stage and people are satisfied with our efforts we could do a second raise if needed or simple sell some Stish directly not via a crowdsale or Token Event!
Stish Token Event Will Be Automated!
- As stated above we have a minimum that we need to raise in order to take things to the next level. We have decided to off Stish2.0 at deep discounts.
- We will allow 1000 Stish to be purchased for 1 Full Eth! That is 250 Stish Crypto for 0.25 Eth which is a bargain beyond bargains. You are welcome in advance!
- The smart contract will allow you to send Eth directly to it and receive Stish Crypto in return automatically.
- We will also allow people to connect via metamask to make Stish purchases via our website.
- We will put a limited amount of Supply on Radex.ai to allow people to buy on the exchange.
- We Will also allow for a slow 3 day waiting period for old fashioned Fiat currency transactions for Stish. So people can buy Stish through our website with credit or debit cards!
- We Will Offer 10,000,000 Stish 2.0 up for sale for a limited time at basically angel pricing with no minimum purchases for all who want to be a part of this amazing journey! That is 10% of total supply.