The death of a HE Token...
I have been a faithful follower and user of the SPORTS token since its inception a few years ago... I am a sports guy and I trusted that the community behind this HE token would develop and become something worthwhile, that's why , since the beginning I have been accumulating SPORTS token to be able to expand my voting power in said community.
The reality is that, compared to other communities, SPORTS has a spectacular social mass but its token has very little added value.
Every day there are hundreds of posts related to the world of sports, the vast majority of them dedicated to classic sporting events such as soccer... but very few related to the personal aspect of the possible author as an athlete, which is my case...
Anyway, and as I have already said, I felt identified with this community and I continue to use its tag in my running posts... however, I think that this token in particular, like many others, has its days numbered, if its developers do nothing to prevent it.
I think it will end up dying like many other similar Hive-Engine Tokens, most of them generic, like PALNET or NEOXIAN or ASH (RIP already) if nothing is done and, as @acesontop wrote a few days ago, the creation of a token or a new community is not only limited to replicating another new blogging interface... You also have to give something different or improved for someone to decide to engage with it.
As I have already said, my nature makes me be enrolled in that community but I do not see the need to stake these tokens and neither do I see a greater utility than selling them and transforming them into HIVE, LEO or even CENT to prevent their value, if it still has some, is diluted over time.
For more information, I enclose two interesting charts on how SPORTS is languishing over time.
The one on the left is about my SPORTS STAKE since the beginning of the year, as you can see, a permanent increase...
The one on the right, the value of my sports stake versus the same time, towards the underground...
Need I say anything more?
This happens with many other HE tokens and communities, possibly I will make a more extended post in the future to show you which TOKENS are worth staking with and which others are simply better used for increasing your HIVE Power...
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https://twitter.com/thecryptorunner/status/1501140866462892033
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You make a good point.
Many of these tokens started with a good intention or purpose. It seems, though, that there is much more work involved to make these tokens have value than simply creating and distributing tokens.
Look forward to your post about which tokens are worth staking 🙂
Well, I guess you have to offer anything more than a frontend in order to success...
Hard to keep a community like @leofinance alive. That's why many others are failing.
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Why not copy and replicate the likes of Leofinance and Splinterland? Get some pool running for SPORTS staking, come up with means of burning the token, get #SPORTS trending on Twitter to attract outsiders, HIVE community is always ready to jump in and push any project worth pushing forward. Ask the community for ideas...
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exactly
#CENT is doing much better, being a generic tag but with better tokenomics and Liquidity products. At least, it has the tools to be sustainable in terms of price
SPORTS in my opinion have been the most disappointing of all, we are looking at a token related to sports in general from soccer, tennis, swimming etc, you would expect such token to perform well and even pull in new users for HIVE if the economy around it is attractively presented.
I think I have over a million or close to a million of them lying around worth almost nothing. I had so much faith in SPORTS but that faith seems to have run out, am not one that complain around here but SPORTS is worth complaining about.
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yep, it's really a pity
I think the best time to sell HE is in the bear market so you can get more Hive for them
I am not going to wait for that, selling already
The biggest thing missing from most of these tokens is they have zero buy back or little to no use case. Without either one or both of these things does the token really have any value? In a way yes if the community is strong but even a strong community is not enough. I have a feeling a token like SPT is going to bombshell once the airdrop stops.
Community tokens are nice but there needs to be a little more guts to them.
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Agree but LEO and CENT are doing great as a community tokens as well
There's a lot of use cases with LEO and cent has prided themselves on Liquidity pools which is holding that value nicely.
That's sad indeed. SPORTS has a lot of potential but you're right, without use cases, it's bound to die
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Sports appeal to a large mass of people but I agree that the development and use cases are lacking right now. I was hoping for a little bit more happening after the diesel pools were added but not much has happened. I remember the proposals and how it wasn't that hard to pass in the beginning but it got harder and harder to pass over time.
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Maybe you can put it to use.
Example: with the proceeds from this post, buy a sports Nfts and raffle it among users who have more than 1 million staked sports. That gives the token a utility
Example 2: Host a tournament on splinterlands or @lucksacks.com and make it exclusive to those with 10 million stakes, or have to pay for access on sports
I don't know a couple of examples that come to mind so suddenly but there are many other ways. And also you do not need to be the developer of the token, it is enough to have it.
Sorry for the rambling.
!PIZZA
Great ideas, but I think this task belongs to the developers and not to the users
You are probably right, but if you already have a lot of tokens it is a way to give them value.
It’s all about incentives right now coins go to people who post and they either selling it or waiting to sell there’s no incentive to hold or buy apart from wanting to earn more of said token
If you wanted to Jack the pumpamentals just put a major tax on people who post to sports without using their front end so you limit the amount of coins going into circulation without proving views for the site
It drives an incentive to use the sports site which drives up views which drive up the need to spend tokens to get more views and the income from ads can be used to buy up supply
Adding more swap pairs righr now sports has like 3 you’ll need pairs with things like UDST, HBD, BNB, Matic and the like making it easier for liquidity to move in and out of sports
Then finally Jack push more inflation towards those pools to keep people in them
Look at creating betting markets that burn some of the supply