RE: Seeing Things: Pareidolia in My Collage for LMAC #128
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why the 20% beneficiary?
Does the community only vote if author sets a beneficiary to the community?
We have shut down Project Hope due to this abuse. Please reconsider this rule, if this is a rule.
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Hi @azircon, a pleasure to see you inquiring about the LMAC community.
Indeed we ask our community members to set the @lmac account as 20% beneficiary in their posts. It is important to note though that all beneficiary and curation rewards arriving at the lmac account are redistributed entirely to the participants of our weekly collage contest. This can easily be verified by checking the transaction history of the lmac community account. No cut taken by the community management. I didn’t look into the details but I guess this was different with Project Hope.
Hope this helps to dissolve any concerns at your end. Let me know anytime if you have further questions re the economic structure of the LMAC.
Cheers!
(I’m currently in a remote area with very limited bandwidth, hence my responses may be delayed.)
If all the benefactor rewards are being distributed then what is the point of setting a beneficiary, why the mandatory rule? Basically the community members are paying the commmunity members with an intermediary. What's the purpose of that?
I haven't investigated any abuse, or making any accusitions towards LMAC community. I am saying however, we have bad experiences with this beneficiary set up in the past. It can easily be turned into a voting circle and that has several negative outcomes.
In the following weeks I will keep an eye of the voting pattern and will let you know if I find any anomaly.
PS @shaka Why do you self-vote?
Absolutely, so let me clarify. The benefactor rewards are not just redistributed to all contributors (that would indeed make no sense) but instead enter the prize pool of our weekly collage contest and then are distributed to the winning participants . I’d like to point out that we are applying a rigorous multi-level approach in determining the winners to exactly prevent any abuse as good as possible: a five membered jury ( four permanent seats plus one weekly rotating community seat) are nominating 15 finalists each week. Finalists are then ranked in a community poll (in which all Hive can participate) to determine the winners and thus the actual distribution of the prizes , i.e. the benefactor rewards. The more participants in the poll the more robust the outcome obviously, so we would very much welcome larger accounts like yours participating in this poll.
We have around 180 - 200 contributions each week to either our collage contest or the LIL, a user generated image library which we offer as a service to all Hive. As you can imagine, this requires intense curation and also comes with actual costs to host our service. A service which we believe adds great value to the Hive ecosphere. All posting rewards which my account (@shaka) receives for the two weekly contest announcements (New Challenge & Winners) go to the @lmac-operations account and are used to run our operations and cover our expenses: 20% go to our three moderators, 30% to our developer, ~15% are reserved for hosting our web service and ~35% are accumulated to build our operational reserve. Supporting all this with my own vote is something I consider appropriate use of my stake. In addition to these two posts from my account, our weekly contest cycle comprises two more posts from the @lmac account (Final Poll & Top Picks LMAC trail). Posting rewards from these two posts, which I support with my vote too, either go to the contest prize pool (@lmac), our operations (@lmac-operations) or directly to the three top picks.
So this is the flow of rewards into and within the LMAC. It's all supposed to be fully transparent and verifiable. If you are committed to have a closer look yourself we would actually more than welcome that. If something doesn’t sit right with you I would be the first who would like to know. In fact, your inquiry already prompted us to consider publishing regular accounting reports (e.g. once per month with posting rewards either going to null or the DHF) so that nobody even needs to dive into transaction histories to follow the flow of rewards within the LMAC. We will look into this as soon as I’m back in my normal environment in about two weeks.
Hello @azircon,
I wanted @shaka to respond to your question directly. I joined Hive (and its previous incarnation) as an older person and so the technical aspects of the platform are sometimes daunting for me. However, I am clear about the value that Hive, and LMAC as an extension, have for many, many people. It is not just a place to have fun, or invest. It is an economic lifeboat.
My participation in LMAC goes way back to maybe the 3rd or 4th round. The community allowed me to play at creating art (I've never been very good at this). After a while, LMAC started to grow and it was obvious that new members of Hive (especially those with limited language skills) found this community to be a ramp that allowed them to have a foothold on the platform. And, Hive was an essential source of income for them.
I became committed to seeing this community succeed. Basically, I'm a cheerleader. I comment on and upvote as many posts as I can, nominate finalists for the weekly prize, and answer/refer questions when these arise. Of course, I still enjoy being an active member of the community and creating collages whenever possible.
Artists do have an edge here, but I've seen artists who didn't catch on. If someone tries hard and makes a collage that 'speaks' to us, they have a shot at being in the final round and winning a nice prize. All of Hive votes on the finalists, so the outcome is never certain.
I know this response doesn't directly address your question (@shaka did that), but I hope it gives you an idea about the spirit of LMAC.
Regards...