If you have a Steem-Engine Tribe, there are some things you should know about the transition to Hive-Engine.
You will be able to move your Tribe to Hive, there are a few options.
If you choose to stay on Steem-Engine, there will be no changes required to continue to operate as you always have.
If you want to use Hive-Engine, you will need to migrate your tokens and pay new fees to use Hive-Engine.
While this feature is not available yet as Hive-Engine is not available yet, we do know some of the details already.
There no longer will be an ENG token, it will be replaced by a new token called BEE. The BEE token will be pegged 1:1 to Hive and will be the only token accepted to pay Tribes fees. Existing ENG will continue to be used for Steem-Engine functionality.
Typical Tribe will need to buy around 4,300 BEE (cost 4,300 Hive / $1,300 USD) to migrate their Tribe to Hive-Engine.
It will be your responsibility to air drop tokens to your user base on Hive-Engine matching the liquid and staked tokens that exist on Steem.
ENG has already lost the majority of it's value, I can't see it being worth anything in the near future as a result of these changes.
At this point, I'd rather just wait out Hive Media Tokens (or whatever they will be called) and migrate to a first layer solution. I firmly believe Hive will have them out far before Steem does and I even doubt Steem will ever launch SMTs at this point to be honest.
The reliability of Steem-Engine and Tribes has been really poor and I can't see paying the fees over again for the same level of service.
Will you migrate your Tribe to Hive-Engine?
What are your thoughts of these changes?