Community-based ways to use KickCoins on KICKICO
Introduction
Every time a project successfully completes fundraising, we perform an emission of cryptocurrency on our platform. Generation is 8% of the total amount collected from the project’s fundraiser. Due to the generation process, the volume of KC will grow on the cryptocurrency market. In order to prevent KC from becoming another useless altcoin, we made our coin useful in multiple use cases. The thing about KC that is so special is it has the ability to do what normally takes 3 different altcoins to accomplish all on one platform!
Some fair questions to pose are: “What is the use of the currency, why is it created, and where will it be used?” Kickonomy is a platform that will become the stage for a plethora of projects to successfully collect funds from contributing users. The users fund the projects via KickCoin, and the KickCoin is what the projects receive upon completion of their fundraiser.
These kinds of service I divided into 2 groups. You should pay only with KickCoins for all of them, and they are all different. I’ll publish the pricelist later. I’m sure that offering all these kinds of services and options will create a great demand for the KickCoins on the exchanges.
For authors
Payment for a review
The current count of projects on KICKICO is 150 and rising. Although there are 150 projects currently, only about 15–20% are at the stage to be considered deliverable and complete. The remaining projects throw a few paragraphs together and think that they are ready to deliver and launch.Recently, I was asked to check out an “ICO Company”. It didn’t have a white paper; the project included a single image and a description that was shorter than the introduction of this article. With the project lacking crucial information and displaying little design effort, I gave the author a critical review in which I explained it was missing too much information and needed better design for it to be presentable. I suggested how to fix the project and promised I would review the project again after the changes were performed. Instead of taking the constructive criticism and trying to improve the project, the author became offended and replied that he believed that he had done enough work including anything else was too much information and not important.. That experience in particular, led me to the development of incorporating a review service on Kickonomy. The review service will allow an author the opportunity to receive consultancy, feedback, and help in the process of company development. The author will use KickCoin as payment to obtain those services. . Community members and authors will choose platform officers to provide the review services. We will speak more about this in the future as our platform continues to grow.
Draft moderation
We will incorporate draft moderation that all projects must undergo before they receive approval on the platform they will get feedback from the platform community which will contribute to the company’s development. In order to eliminate companies which are not ready to be reviewed, as well as jokes, tests, and trolling (they also occur), there is going to be a low fee (just symbolic), part of the fee will be allocated to a quality-checking moderator.
Moderation before launching
Every company will have to go through moderation before being launched. Initially it will be implemented by platform officers, then moderation will be performed by those who are chosen by community as well as by company advisers.
Paying for smart-contract deploy
The creation of smart-contracts will also require a fee. The fee incorporated with smart contract creation is determined based on the level of difficulty of the contract. Deployment will be implemented automatically, which makes the fee a necessary requirement. However, the platform will receive KickCoins and deploy them at its own expense.
Guarantee of getting into our digest
We will create a digest of the most interesting companies. Later, they will be formed automatically based on community votes. There will be different types of digests: daily, hot, new ones (which are just launched), community choice, editor’s choice, week’s best, etc. There are also paid places for companies that pay for the spot with KC. The fee will be formed by an auction’s results. For example, if there are 3 places, they will be given to the companies who made the highest parlays. All of that will depend on which companies will be launched on the platform. Thus, if there are a lot of launches, the demand for KickCoins will be growing on the market.
Payment for translation and proofreading services
This is my favorite point. I have to give thanks to the Bitcointalk community, because its members helped us to translate the content of 6 companies into 3 languages. All of these companies are now ready for launch. It was done manually, but later there will be a need for dozens of languages, which will require some task management automization. That is why we are developing a bounty-function for our platform. It will work the following way: an author is going to order a translation and sets its price in KickCoins. This money goes to escrow, where it will be frozen until the work is done or the order is cancelled. If someone accepts the order, this text will be on the company’s account or it will be sent to the author by some other means. The translator receives the payment in KickCoins. This serves several useful functions. It increases demand and utility for KickCoins, while also encouraging community participation in the Kickonomy. It inspires me a lot.
Payment for creative content
It is similar to the previous point, but here we’re talking about a higher level of content. Visual assets, video assets, voice overs, and advertising materials are critical for a project that wants to get noticed. An author can make an order, KickCoins will be frozen and then the author can accept work with one of the specialists in the community who’s bidding on the work. , As it was mentioned above, it develops demand for KickCoins gives community members a way to find clients and make money.
Payment for the services of community advisors
It is important to understand that an important service is being discussed here, not an avatar. Who are these “community advisors”? They are people who have a good reputation on the platform, and they have participated in many well-funded projects to prove their experience and responsibility. But that alone is not enough for someone to become an advisor. They will be chosen by election (process will be discussed later). Advisors will be experienced individuals who also are supported by the community. Because of the strict criteria, there will be a small number of advisors Their principal duty is to review projects, but they will also take part in regular meetings of an advisory board as members of the community, ensuring that the voices of the users are being listened to by the development team.
Autobounty
Bounty programs work really well for ICOs but they are difficult to control manually. We will create a bot that will follow the bounty actions you set as criteria: sharing on social sites like Twitter and Facebook, or blogs on Medium, Steemit, Golos, etc. There will be the application, a link to the order, and a button which for the author to ‘give the prize’. There will also be everything that you need to launch a bounty campaign: choosing required activities and setting up your KC bounty ewallet. The author will be able to approve activities judged to be high-quality or reject some activities that don’t meet the standard. Autobounty system will be an invaluable function that will help lots of projects overcome informational isolation and gain the awareness within the community, which an indie-company has an intense need for in the early stages.
For community
We’re creating an informational platform. It’s not a simple community, but an active, self-organizing one that we’ve created a range of services for. Nothing limits anybody on the platform. All of these services are optional, including paywall and all the rest. We do not push users. There is only one exception, and we believe you’ll understand why we’re doing it and find that we’re being very reasonable.
Election of community advisors
It is clear who advisors are, but how are they elected? If someone pays a company 5000 ETH, can they become advisors? Sure, but it’s not enough. If voting is done by by bots, it won’t be relevant. The reputation is the key point and the price of KC is the same for everybody. There is one argument against it: people don’t like to spend money on voting if they can’t vote for themselves. I strongly disagree with that. They will vote if they feel strongly about the community. There will be fewer voters, but the ones who do vote will be those who care. Those who want to contribute to community creation will be ready to spend a symbolic sum.
Electing moderators
As previously mentioned, voting lets people choose those who will moderate comments, and senior moderators will even be able to approve companies to be shown in public in drafts. Moderators have a hierarchal system, and voting will influence their rank. In this case there will be voting for and against. Voting against is N times more expensive than voting for. We want to create a self-controlled system which will allow members of the community to create order on the platform rather than have employees perform this function. Platform moderators will be able to participate in voting, but if the community is not satisfied with their performance, they can lose their ranks.
Voting for a project
Voting for a project is performed in exchange for paying KickCoins, but they don’t play a significant role in influencing the vote. In this case the strength of their vote corresponds only with karma, which is the thing that I’ll tell later about in one of the further articles. It has existed for a long time already, but it’s currently a hidden feature. In brief, karma is the sum of all the useful and positive actions of a user on the platform, such as votes for other community members, supporting companies with money, help with translations, making art, sharing news and so on. In order to vote for a project you’ll need to contribute a symbolic sum of KickCoins.
Benefits of voting
- Increases the chances of being featured on the platform;
- Makes a project get a higher position on the list on the main page of the site;
- Gives the opportunity to become ‘the choice of the community’;
- Increases the chances to get included into the digests and newsletters of the platform;
- Increases the chances of being refererred to in the articles and blogs of regular platform writers, including FB, Twitter, and other sites followed by the platform.
Social benefits
It is actually for fun, some decoration, such as a ‘golden frame of the avatar’. It could be a special, unusual font in comments, the background of a user’s profile, or something else which lasts for some period of time. This limitation is necessary. It is social function that has only purpose: fun. It might not be accepted by the audience, but we’ll make an experiment.
Fine and penalty payments, set by moderators
This is the best way to atone for sins, getting penalty for swearing, spam, flood, indecent actions, and other actions that break the code of conduct. The offender will get a small fine which is, for example, 50KC. The next fine will be 100 KC, the next will be 200 KC, and so on. Finally, the offender either fixes their behavior, or they won’t be visible on the platform. Some of the penalties cannot be cancelled by paying money. Those penalties are usually for discrimination, spam, and so on, and may result in permanent bans
Virtual gifts
Finally, a lot of people like gamification of gifts. Wouldn’t you like to be able to make a gift for a friend or someone who’s just a nice person? The gift can be flowers, a glass of tea, a lucky ticket or something else, for example. I like interactive gifts if they don’t turn into a cash grab. We’re going to set reasonable prices, and we believe it is possible that this thing will turn into serious cryptosociety.
Fin
This is it for now, however it is not the end of the list. We will extend it and tune it. We’re ready to hear from you about any idea idea which can be brought to life. Our aim is to create a tool for the community, not vice versa. That is why all our competitors … will be outdistanced, I can promise that to you.
And one more thing. Having written this article, I understood that KICKICO is not just an ICO creation platform for crowdfunding companies, creating blocks, and making smart contracts. I want to you to think about our platform as about self-regulating community, and the platform that we’re creating for it.
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