Hive Power Up Day | Monday 1 August 2022 - investing in ListNerds
Opposite Hepworth Wakefield Gallery, West Yorkshire, UK (June 2022)
Hive Power Up Day
I'm powering up to 67,000 Hive Power (HP) today. I'm aiming for 72,000 HP by 1 January 2023 and 100,000 HP by 1 April 2025.
I've recorded a couple of extra goals for passive growth:
- HBD - rewards and 20% interest.
- EDSM and EDSMM - both mine EDS for twenty-plus years at 200 EDS each year. EDS is an income token, paying liquid Hive each Monday.
There are about 10,000 EDS mini miners (EDSMM) available at 1 HIVE each (36% variable yield), each one offering 480 opportunities every 24 hours to mine EDS (28% yield).
Savings and Investments Plans
My focus has been building a portfolio of tokens that provide passive income (I read somewhere that millionaires have an average of seven passive income streams 😁).
I'm moving into the next phase of investment now: I have a couple of small short-to-medium term investments; I'm looking at delegations to curators that will help with Hive growth and retention, and, over the second half of the year, I will be exploring extending the range of witnesses that I support.
My first major investment in this phase is Listnerds - see below.
Portfolio
| Token | August 2022 | Target | By | Notes and Plans |
|---|---|---|---|---|
| Hive Power | 67,000 | 100,000 | 1 April 2025 | 01/01/23: 72,000 |
| LEO | 5,000 | 5,000 | achieved | delegated to @meowcurator, LEO income |
| HBD | 712 | 1,500 | 1 April 2025 | 20% HBD income - organic savings |
| SPI | 10,785 | 10% of fund | achieved | growth token HIVE dividends Sundays (@spinvest) |
| EDS | 2,438 | 3,000 | 1 April 2025 | 28% income token HIVE income Mondays (@eddie-earner) |
| LBI | 5,000 | 5,000 | achieved | growth token LEO dividends Saturday (@lbi-token) |
| CL | 1001 | 1000 | achieved | income token LEO income Friday (@lbi-token) |
| EDSM | 50 | 50 | achieved | EDS Miner 20% return sold out (@eddie-earner) |
| EDSMM | 500 | 500 | achieved | EDS Mini Miner 20% return (@eddie-earner) |
Notes SPI - Starting fund: $13,000; Value 31/07/2022: $162,418 Disclaimer: I am part of the SPI leadership team and run the Saturday Savers Club on the @eddie-earner account.
New Investment - ListNerds
SPinvest subscribed to ListNerds, a content discovery platform on the Hive Blockchain, as another income stream for the SPI fund. I became involved because I signed up to a free subscription in support. I had been put off from subscribing before then because of the branding, although I had seen numerous posts about it.
I've spent six or seven weeks learning about ListNerds. I'm still working out my plans for it, but it meets my investment criteria and has great potential as a second layer project on Hive:
Background to ListNerds
ListNerds is part of the CTP family. Previously it was a safelist for multi-level marketing: you signed up to read emails from bone fide marketers, safe from scammy links. Early in 2022, it was launched on Hive, with the new model tokenising sending and reading and responding to emails and creating new opportunities for content discovery.
ListNerds is a Web 3 enterprise built on top of Hive and offers the opportunity for multiple businesses or permissionless jobs, one of which can be your own Hive blog.
ListNerds is already demonstrating some nice models: one daily mailer is building a lovely conversational relationship with responders through a daily post, a couple of short videos each week and, occasionally, a gently controversial post. Some mailers are promoting newcomers to Hive, bringing them to a wider audience, and others are promoting communities, with links to newsletters, contests and daily challenges.
Opportunities for Creatives and Onboarding
ListNerds has a growing community of writers and graphic artists and it has barely tapped opportunities for growing an audience. You can grow your own people business, too, with teams that you support and which contribute to your income. It's a great channel for bringing new people to Hive, there's lots of structure, lots of resources including a helpdesk together with a low cost of entry. I haven't investigated it yet, but there could be synergy between ListNerds and the onboarding programme run by @ocd.
Development Plans and Egalitarian Features
ListNerds has a experienced team of people behind it with a range of skills including that rarest of unicorns, a developer. There has been a lot of development and more planned for the future. ListNerds is in the early stages of its life cycle with all the implications of that. As with most innovations, though, early adopters will be at an advantage long term.
Rewards are shared by voting, and the size of the vote you are able to give is determined by the size of your stake of the governance token, LISTNERDS. Mailers have to achieve a threshold of votes to receive a share of rewards and anti-social actors can be downvoted. Rewards are shared equally between everyone who achieves the threshold on the relevant day: rewards are not shared according to size of stake or to size of the vote received.
I really like the equal shares for everyone who achieves the threshold (votes to the value of twenty points). It helps to create wider distribution of the LISTNERDS token and more opportunities for new entrants to grow their stake, rather than wealth becoming disproportionately concentrated in a few accounts.
Redundancy
A key metric for looking at the health of the project is the distribution of LISTNERDS across the ListNerds community:
This chart is produced as part of a weekly analysis by @mypathtofire. If the community is growing and doing well, I would expect to see a gradual reduction in the percentage of ListNerds going to the top ten stakeholders, and a movement towards a gradual increase in the percentage going to the long tail outside the top fifty stakeholders.
The chart shows this isn't happening yet. We've also seen an increase in the amount of LISTNERDS distributed per mail from 436 on 21 June 2022 to 1,121 on 22 July 2022 indicating a reduction in the number of mails that are achieving the threshold to qualify for a share of the rewards. There could be a number of reasons for this, one of which is redundancy in voting patterns by stakeholders.
Voting redundancy is where mails receive voting values many times larger than the threshold required to trigger a share of the rewards. It's an example of the Tragedy of the Commons, where behaviours that make sense in individual terms (in this case voting for a narrow range of mails) deplete and impoverish the community (the Commons) overall.
I've voted on approximately 250 eligible mails in the qualifying five weeks, only 14 of which have reached the threshold for rewards (see notes below). I employ a wide voting strategy, where I distribute my votes to as many different people as possible. If I receive several eligible mails from the same person in the same timescale (usually 24-36 hours), I will select the best one for my vote. I generally only vote on multiple mails from the same person if I have excess votes after distributing votes as widely as possible.
Using Community Voting to Promote Growth
This voting strategy takes time but to me, as an investor, it is critical to the sustainability and success of ListNerds. I have an interest in seeing the community grow and the creation of many permissionless jobs with wide distribution of wealth because it will make the project sustainable.
I would be interested in hearing which voting strategies other 'Nerds employ. For example:
- Do you only vote for your team members, regardless of the number and quality of emails?
- Do you prioritise newcomers for support (usually with a blue reputation below 100)?
- What do you do about plagiarism and other anti-social behaviour?
I'd love to hear your thoughts in the comments below.
Gentle Suggestions
ListNerds is in its early days and there's lots to do. Here's a couple of suggestions that might help:
- Reporting There's an absolute plethora of information sources for, by and about ListNerds. Even while writing this post, there was a conversation going on in Discord about scrolling back to find something someone said. How about a short weekly report on the @listnerds account with latest updates, any problems and what's happening about them and information about development plans under now, soon and later headings.
- Community Meeting The CTP team provide lots of opportunities for engaging: this idea is for a community led meeting to discuss anything of interest to community members. For example: what we mean by anti-social behaviour and how to tackle it; or what our priorities are for ideas for development. One suggestion is for a Saturday or Sunday 8pm UTC (9pm BST) meeting, maybe once a month in the voice channel in the CTP Discord. Let me know your thoughts and any alternative suggestions in the comments.
- Branding This is a suggestion for later as time has already gone into the branding and making changes at this stage may not be the priority. However, the branding put me off for four months and I'm only here by default, so it's worth mentioning. Among other groups of people, I wonder if the branding speaks to women, the decision makers for 64% of financial and spending decisions in families and who form 96% of the multi-level marketing industry in the UK.
Notes
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"... only 14 [mails] have reached the threshold for rewards ..." There was a period when the counter was broken, but it appears to be working now and ticking over at 1 mail every few days.
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ListNerds White Paper Includes rewards for staking which were not covered in the discussion above.
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ListNerds review by @raj808 Discussion of latest developments and helpful list of ListNerds pros and cons.
Thinking About Joining ListNerds?
If you decide you would like to try ListNerds, please consider using @spinvest's referral link: Click HERE to sign up to ListNerds under the SPI team.
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