Any tips about creating a token ?

in DCooperation3 years ago (edited)

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I'm building the community @dcooperation long enough to think about creating a token.

I'm still learning about other token created and how they work. But, I would like to create a tribe. I mean a token with a front end.

Since the main idea is collaboration in @dcooperation. I would like to create a token to support collaborations on hive !

Then those collaborations can be even done in all crypto world.

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What type of collaborations I'm talking about ? :


Mostly by collaborations, I mean anything that's created with more than one author or creator. Could developers collaborate ? Yeah, by creating a useful application, by contributing to the code. Just like it's done in githut or other open source platforms. They can collaborate even between them in creating a useful application, or a bot or anything else. Even testing and reporting bugs is a collaboration between the developer and the end user of the product. So anything done on the platform could be considered as a collaboration.

I'm not a developer myself, and I know mostly content creators who joined the community. That's why we mostly collaborated in @dcooperation with videos. So, something like this was created by our members, and you may find more on the account of the community :

Usually, when people hear the word collaborations, they think only about videos. But collaborations could be done in the form of text as well. Even in the form of discussion or comments. For example, what I proposed here : The first POB collaboration with DCooperation !. Or any other ways of collaborations, like for example writing a text by someone and translating it by another and putting all that in one post.

I created many video interviews and this could be the best collaboration. But interviews can be also in form of podcasts, what's supported for example by @brianoflondon with Podping. It's possible to create written interviews as well. And we created a few in @dcooperation as well. Even mentioning others in your post when you write your opinion about what they said, that could be considered as a collaboration as well. Just like I propose here : Collaborative curation with DCooperation !. I mean to reward that.

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That's the main idea behind the token. Is to reward collaborations. To reward those who promote others. To make authors share their rewards with those who helped them. If that's not with beneficiaries from a post they talk about them, that could be at least by mentioning them and sharing some of their content and that will be a good promotion and everyone will be rewarded from that.


I'm sorry for the long introduction, but that's to explain my views on collaborations and what I mean by that. We really could reward those people who collaborate somehow by a token. The token that can be distributed among those who use the tag #dcc and that could be done manually. Not only by the token creator, but by all the community when they find a great collaboration to reward. That way we may motivate people to collaborate with each other more and to collaborate with crypto community as well.

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So, since I'm new in all this and I have no idea about what will going to happen in the future, I would ask from tips from people I know who already have an experience with creating a token or those who know how this all work. I already asked the team of hive-engine and learned a lot about token creation, and I'm very close to that. But I would like more tips from you. Because even content creators could be helpful in case they have ideas. We are all contributors after all, and we collaborate with tribes.

I'll be happy to hear from the two developers I know @leprechaun and @amr008 or @raulmz.

I'm planing to create a token first. Airdrop it ( distribute it among those who create collaborations with #dcc ). Then distribute it among stakeholders I trust, like @onealfa and others. Then put it in the market and then maybe even creating a front end to support collaborations.

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The questions I have for now :


  • What's the best total supply to choose for a token ?
  • How long the token should take to be issued completely ?
  • How much should be distributed in the airdrop ?
  • How much should the token owner own in % ?
  • What's the best Decimal Precision ? 0.001 like hive ?
  • Is it ok to just make it like hive itself, in all those ?

In this case I would like to know the total supply of hive, how mush is already in circulation and how much is staked ?

Any addition you have, please write about it. You may ask questions yourself or write your suggestions about how such token should be ?

I'll be happy to hear from all hive community !

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Inflationary, not deflationary.

I wish I understand that better. So, they explained to me that any token should have an inflation. It's like how much could be print in a year. So, that should be reduced always, like in hive for example. But in hive I just been told that we don't have a total supply, but just reduced inflation. But in tokens we have always to set that total supply.

So, accepting the fact that I have to set the total supply with the token and looking at what other tribes are doing. I see that they have a total supply that could be printed all during years. That's why I'm thinking, why to not do that in only one year. Like the total supply could be reach in one year. And only what's printed could be destributed after. Will that add the value of the token because it will be that limited ? But in the other hand, how the content will be rewarded in case everyone will sell. Or the market will not let such token desapear ?

I'm new in all this and I never created a token. That's why I'm asking maybe stupid questions for some, but for me without knowing that much about all this, is something important to know. I need to know as much details as I can, to not repeat mistakes of others.

Will be that considered deflationary, if the total supply will be reached in 1 year ?

In the end I see that most of the tokens may never reach the total supply. The same even about cryptocurrencies. Someone once counted that bitcoin will be all printed only by 2140 year or even later. Maybe that's why crypto and token owners prolongate always the time to reach the total supply !

Blackcoin had a model somewhat like this, you would mine Bitcoin, DASH, Ethereum or vertcoin and get paid out in Blackcoin for the shares you mined.

good idea! I dont know much about it but sounds cool! Eat !PIZZA
Excited.GIF

Thanks. More people will know about it when it's done. ☺

will keep an eye out for it!

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@clixmoney! I sent you a slice of $PIZZA on behalf of @stickupboys.

Learn more about $PIZZA Token at hive.pizza (1/20)

What's the best total supply to choose for a token ?
How long the token should take to be issued completely ?

This is relative. But see that a high quantity is recommended for total supply.
I think that it is necessary to understand where is the value that the token contributes and what mechanisms will be created so that the token absorbs value...

Have not you planned to organize an ICO?

Oh, ICO is good. Let's discuss that in discord please. I'll pm you about that.

Quite excited about your idea and I think it can gain value and good investments in the future.
Honestly, I don't know much about creating a token but I like the structure of POB as it has a "fair launch" and a long-term view to attract investors...

POB is a pure 100 Proof of Brain PoB token meaning that the only way the token enters circulation is through PoB rewards that are earned by posting and by curating content with POB staked. 1 token has been issued to proofofbrainio to enable staking. There will be no more POB tokens issued except through PoB rewards. Like bitcoin mining rewards decrease by 50 every 4 years.

However, if you want to follow this strategy, maybe it would be a good idea to reduce the period of "halving" to 1 or 2 years rather than 4 years. I think it is good for inflation to be reduced more quickly to give investors a further incentive to hold

Best wishes :)

Thanks for your feedback. I don't want to copy other tokens and still not sure that the front end is needed. Maybe this will be only a token that will rewards collaborations. I talked even with a few developers here and it seems that I have just to do it my way. It will be crazy a bit and maybe just an experiment, but it's better than doing nothing. I have nothing to lose anyway trying this. Maybe it will be valuble even if it's not following all the rules of investors !