Reading Bigeng｜LikeCoin "Daily Creation Fund" adjustment from 3/7

Since launching the #Bibao series of articles, I have spent more time following Twitter and Discord, and have also dived into the Matters Lab and LikeCoin communities. I have set up hyperlinks for everyone to follow!

■ Daily creation fund adjustment

I came across an article that is of great concern to everyone. It is the announcement that the Creators Fund Committee (CFC) will adjust the " Daily Creation Fund " starting from 3/7. You can check it in the Liker Land App, which will be updated at noon every day. The " hollow " strip-shaped part that comes out is called " matching fund ".

Usually @Dasiy will enthusiastically compile the content of each meeting and publish it to Matters, but he has been slightly ill recently . Please allow me to make my own decision and post the known information with a little explanation from a "newcomer's perspective" in the hope of reducing communication costs .

The original article mentioned:

✅ First paragraph

The third meeting of the Creation Fund Committee was held on the evening of March 3 (Thursday). After discussion, it was decided that starting from March 7, 2022, the daily creation fund allocation will be adjusted to 13,300 LIKE.

The current allocation of the "Daily Creation Fund" is 20,000 LIKEs, which means that if you maintain your original writing pace (other conditions remain unchanged), the amount of LIKEs you are expected to receive is approximately 36% off .

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✅ Second paragraph

According to the funding principles agreed upon at the first meeting of the committee, the monthly funding amount of the Creation Fund is matched with the actual amount of sponsorship paid by readers in a 1:1 ratio. However, it is estimated that the actual monthly sponsorship amount from readers last month was only about 62,500 LIKE, which was significantly lower than before. In order to prevent the creator’s income from being greatly affected at once, the committee decided to add an additional amount in addition to the original 1:1 matching amount. Allocate a sum of money to maintain the monthly fund sponsorship at 400,000 LIKE, which is approximately 13,300 LIKE distributed every day, and then review it for one month.

First of all, everyone must understand where the 62,500 LIKE came from? It is estimated by multiplying the total commission amount (understood as the principal) of the "Civic Liker Appreciating Citizen" node by the rate of return. The amount is used for the LIKE distribution when " Appreciating Citizen " claps. It is the " solid " long in the Liker Land App. The bar portion is also the " sponsorship amount " in the announcement.

Tracking the Appreciative Citizen Web 3 report produced by @ Uncle Xin , the current "principal💰" is about just over 4 million LIKE.

The nouns in the Liker Land App are used here to facilitate comparison.

The committee uses a 1:1 ratio to map the amount of " Matching Fund (empty)" based on the amount of "Appreciating Citizens (solid)". If the current situation is maintained, the 62,500 LIKE per month is equivalent to a daily LIKE creation fund of 2,080 LIKE. The drop is really drastic. Therefore, I added extra money to help recharge 62,500 LIKE to 400,000 LIKE . This is the reason for the daily 13,300 LIKE creation fund.

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✅ The third paragraph

When the author's actual sponsorship amount (i.e., the total number of rewards from citizens of appreciation) increases, the committee will adjust the total amount of subsidies with reference to the current allocation level. The committee hopes that readers' sponsorship will gradually become the author's main income, and that the creative fund will play an increasingly smaller role, ultimately helping the author to establish an independent economic cycle.

The committee hopes that one day " Appreciative Citizens (solid) " will grow to be self-sufficient and will no longer need assistance from the " matching fund (hollow)" . To put it bluntly, the "principal💰" just mentioned continues to grow. To achieve this, we can break it down into two aspects:

1. Increase the number of new users who appreciate Citizen Web 3
   Referring to the statistical table made a few days ago by Uncle Xin , up to 80% of the users who currently appreciate Citizen Web 3 are citizens of Matters. How to expand more new users - especially audiences outside of Matters - also depends on the brainstorming of all parties. .
   
   See the Discord group discussion, the old version of Citizen Appreciation should have had 2,000+ subscribers in its heyday, but since the stand/public news was checked and the water meter was turned off, and the credit card account was fraudulently used, the loss was about 1,200+ people.
   
   
2. Raise the "entrusted amount" of existing users of Appreciating Citizen Web 3
   I agree with the @Liker.Social editorial team ’s opinion in the community that it is not enough to rely solely on the “altruistic concept” to get existing users to increase the amount of entrustment. It is also necessary to design a two-pronged approach of “self-interested incentives” .
   
   Just like some Discord groups, they are designed to encourage users to speak and accumulate experience points. If the "commission amount" is regarded as experience value, can the more "skilled" users unlock more permissions? Even if it’s a vanity design like appearance or skin, it doesn’t matter.
   
   

Less criticism and complaints, more constructive discussions . I am a citizen who appreciates Web3. I will contribute my little bit and hope to expand the ripples of discussion.

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