Have you ever wondered what Steemit 2.0 would look like?
Our main focus right now is to continue finding people who want to get involved with our community. We are now giving our members the opportunity to earn/purchase their stake in the future of BuddyUP. We are going to do this by rewarding members with our BUDDYUP token (BTS asset) whenever they complete various features on the BuddyUP discord server.
We believe that this will help newer users get rewarded for their efforts and it’ll also give them a stake in BuddyUP for the future.
BTS asset?
Some of you may be thinking what on earth is a BTS asset, so I’ll briefly explain what and why by first explaining something else.
You are currently on the STEEM blockchain, reading this post, and you have tokens in your wallet (STEEM, SP & SBD). These tokens were created and sold to members so that STEEM could grow. We don’t currently have the ability to create our own tokens on the STEEM platform, but it is in the works and before long we will be able to create our own tokens; Smart Media Tokens (SMT).
To briefly get your head around what an SMT is, I’ll use Ethereum as an example. Ethereum gave us the option to create tokens on their blockchain, which are called ERC-20 tokens. These tokens can be used for a variety of different things. You can visit this hyperlink to get a better idea of what these tokens are used for. Eventually, we will have the same opportunity to create tokens right here on the STEEM blockchain and it’ll create great opportunities for the morally correct to grow.
Back to BTS assets… there is another blockchain called BitShares. This network is built on similar technologies as STEEM and yes, you guessed it… they let us create our own tokens. The main thing to consider when creating a token is what the utility of the token will be.
Why do we want to create a BTS token for BuddyUP?
Our first reason for making the token is so we can reward our members for getting involved in the community. Everyone needs some form of incentive and now we can give members a token for their time and effort. They can also feel more invested in BuddyUP by having a part of the community in the form of a token.
Secondly, we are going to use the BUDDYUP BTS token as a springboard into our SMT creation. Now hold on… I may have just lost you there, so I’ll break this down for you to understand why you’re going to want to hold onto the BUDDYUP tokens you earn and purchase.
We are going to make an SMT when it eventually arrives and when we understand the way it works with the blockchain, we will roll it out to all the members of BuddyUP. It’s going to be thought out and executed to the best of our ability to ensure a healthy and positive growth for the community.
We want to use the BTS asset as a learning tool, to figure out how to implement it in our current system. As well as this, we are also going to offer an investment deal for anybody who is invested in BuddyUP via the BTS asset. This deal is going to help grow our SMT into a significantly valuable token for any member of BuddyUP to have.
If you hold onto your BUDDYUP BTS token and continue to earn and stack up your rewards, you will be given the option to trade up your BUDDYUP BTS tokens for a higher stake in our SMT. We are still working out values and how much of a percentage you’ll receive of the SMT for your BTS stake, but this will be the plan. All you have to focus on now is earning and staying active on BuddyUP, so you can grow your stake in the SMT.
How do we earn?
Members will be able to earn the token from using various features on the server. For instance, you may drop by to the #post-spot channel and share with us what you’ve been reading as usual. If you leave your BTS username at the end of the message, you will receive 0.2 BUDDYUP in your BitShares wallet.
We have a progression of unlockable features on BuddyUP for a good reason. They all require higher levels of engagement and effort, which results in increased improvement for the members taking part. With the introduction of the token, it’s not just your mental improvement that’s increasing, it’s also the amount of BUDDYUP tokens you hold.
We are all about genuine engagement and interaction amongst our members. These principles won’t change and we will continue to reward members for their involvement indefinitely. All that has changed, is that we can now reward you all with something that will increase your standing with BuddyUP in the future.
More BUDDYUP BTS results in a bigger stake in the BUDDYUP SMT token.
More BUDDYUP SMT results in a higher vote on Steemit 2.0.
Steemit 2.0 = Our BuddyUP application on STEEM for the genuine and engaging members of the STEEM blockchain.
Earn those tokens and keep engaging.
BitShares account?
Difficulty level 2/10. If you’ve set up a STEEM account, you’ll have no problem setting up a BTS account. Nevertheless, I’ll give you the steps below so you can get set up and start receiving your BuddyUP tokens.
Head over to https://wallet.bitshares.org/?r=calum-am (Full disclosure: this is my referral link for BitShares)
Navigate to the Create Account page. You may need to click the drop-down menu in the top right corner and click 'Create Account'.
- Decide on your username and write down the hard copy of your generated password.
I recommend writing this down and storing it in a safe place. If you have a USB/SD, create a text file and store the password in there. This way you can attach the storage device every time you need to enter your password and you can eject the device after you've copied the password. This is a safer alternative to storing a text file on your desktop.
Follow the instructions to finish the process and then verify your account through your email. Verification will be required so you can start receiving the BUDDYUP token.
Put your BitShares username at the end of your POST POOL entries and start earning BUDDYUP. Messages without your username will be ignored for token rewards.
You can find your BUDDYUP tokens in the dashboard and you can navigate to the market to buy tokens, by clicking on the trade option towards the end of the row. In this screen, you'll be able to invest in BUDDYUP directly without having to earn tokens through the community.
All of these transfer will need to be approved by myself or others on the whitelist. This is to prevent disingenuous people from buying a substantial stake in BuddyUP without being actively involved in our community.
What do you think?
We have streamlined the server over the last few days so that newer members can hop onboard easier without being overwhelmed by our variety of features and channels. It will now be easier for any new user to get involved and get rewarded in BuddyUP. Once you've shown that you are active and engaging, the depths of the BuddyUP ocean will be revealed and you'll have more opportunities to improve and grow.
I'm looking forward to the future and I'll be updating you all about the statistics, the roadmap, and the figures, for our progression moving forward. Look out for a post through the week which will highlight the next steps for our BUDDYUP BTS asset. Until then... start earning your tokens in BuddyUPand don't forget...
