To entice traditional cryptocurrency content creators and other subforums alike, a tipping system is in place. Tipping allows users to choose the content that they like and reward the authors, the tipped tokens can also be used or traded on BitRabbit Exchange.
Breaking out from confines and surviving is something that every exchange center is striving to work towards. With the fall in price of major tokens, there are two roads that spot trades can take: one is locking and waiting for profit or minimize losses; second is to cut losses and withdraw. We can see from these two choices that without a suitable ecosystem in place an exchange can only wait for a sudden surge in prices to change market value.
The main concept behind transaction fee mining is to return trading transaction fees to the users, this is something that I have always asked. The system behind transaction fee mining is to stimulate users to participate in trading. Transaction bots trade on the main market, which is like trading from your left hand to your right hand, to increase the liveliness of the market.
Systems often turn into short term money burners to attract users and change demand in the market. The traffic and volume brought on by this method only attracts users that aren’t really here to support the project. Hopping from project to project, users don’t have the same passion they first had and platforms can only use their own capital to stop losses.
An exchange center is the best interaction point for blockchain users, and is also one of the first successful blockchain projects. One problem is that no matter how much capital you are willing to spend, it can still be hard to reach your goal, which means that something is wrong in the middle. Users expend the tokens they have on hand in the middle. Project landing is something that seems to be far in the future for projects, constant updates and listening to user feedback are also part of the problem. Promotion fees, maintenance fees, and cost of capital are all major problems. You could burn through capital before landing, and end up with nothing.
Forums can be seen as something that has it all. Being a first mover is important, BunnyPub is also currently gearing itself as a forum that has it all. Let’s talk about the advantages of our forum. BunnyPub has a 7 month old exchange as its support.
CARROT is a free candy given to users. Before trading pairs were opened, users were able to obtain different tokens through a wheel of fortune game and then traded for currency on the exchange. The consumption method was too monotonous and not transparent enough was often something users complained about. Users that obtained CARROT weren’t satisfied. Yet, the opening of CARROT trading pairs allowed users to have a better choice to spend their CARROT. The wheel of fortune was now a chance for users to use smaller sums to win bigger rewards, and trading pairs is a relatively more stable alternative. CARROT is supported by projects joining the forum, listing fees, and hiring forum admins.
1. Users not being able to know the content of the prize pool when spinning the wheel of fortune has always been something that we are trying to fix. Currently the prize pool only includes project party tokens and major tokens, in the future it is possible to add project party peripherals. This not only increases the transparency of project parties, but can also incentivize project parties to invest more in prizes for the prize pool to expend CARROT. The more successful instances that happen only increases the motivation for more project parties to sign up.
2. CARROT can be bought back from project parties joining the forum or from listing fees.
3. CARROT can be expended through tipping in the forum, a greater number of users would mean an increase in tipping and the amount of transaction fees.
4. Buying back CARROT to burn with revenue made from the exchange.
These four methods uses minigames to expend tokens, user demand to expend CARROT, project parties joining fees to expend CARROT, and burning CARROT with revenue made. Traditional exchanges use short term profit to gain a financial lead in the early stages, only with proper management will exchanges still be here in the long term. The blockchain industry should also beware of this, looking at short term profit will not enable the industry to survive until the future. The arrival of the forum is a way to let everyone search for new methods to survive the harsh economical winter. Only through cooperation will the blockchain technology be able to turn a new chapter and be used far into the future.
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