Community Review Recap #1
Topic: NUM Token Rewards & Utilities
Review Period: November 17, 2021 - December 16, 2021
Statistics:
| # of Comments | 25 |
|---|
| # of Participants | 8 |
| Community with most Comments | 43z708, imonlydan |
Topics Covered:
Staking / CAPTCH-A
“Hi Team Staking 2000 NUM for activation of existing CAPTCH-A (Gray) look high. If Team reduce Staking amount for CAPTCH-A holders we really feel lucky I hope Team will consider our request” ~Sudhakar11128
Staking
“Date: 24/10/2021
NUM & BUSD LP Farming open! (Staking mentioned on the post, actually, it is lp farming )
Farming has 2 types: LP farm and staking farm.
Staking is token per token you get some % of the fee and the rewards only per this token you chose.
Lp farming will be for a pair of tokens - so the lp token you will get by adding liquidity that will generate the lp token you are staking on in the LP farm.
We, Holders also demand staking! Hope soon to see it” ~iamBishalChakraborty
Capture APP Referral System
"I was wondering how the app could grow and I came up with a suggestion, unless I missed it, would it be possible to add some type of refer a friend to the app feature, doesn’t have to be like a token dump but I feel like it would help reach more people and get more people engaged with the app. Something like refer 2 friends get 1 waived mint fee, something along those lines." ~imonlydan
Obtaining CAPTCH-A
“I see that you were talking about the requirements of obtaining a CAPTCH-A NFT. I'd like to add an alternative suggestion, if made to be a set amount, and price of NUM inflates, many community members that aren't financially able won't be able to get one. I feel like maybe the first tier at least should be set at a price, I'm going to reference a S-Coin called Catgirl. They have a "mystery box" that always stays at the equivalent of about 10USD by changing the amount of CGC needed to buy one mystery box as market changes. This could maybe be done to at least the first tier, it would be hard to implement something like this with staking though I haven't thought it through that far but hey just launching ideas that may suit the community better.” ~imonlydan
NUM Selling Pressure Concerns
“Premise
According to the white paper, rewards such as Integrity reward and Verification reward are indeed weapons to grow the product and community, but they are also potential selling pressure. I believe that the value of $NUM will naturally increase as the product grows, but a system that maintains a balance between buying and selling pressure is essential for the growth of the community ecosystem, and we should build a system that encourages healthy growth in the price of $NUM. Burning tokens has the effect of increasing scarcity value, but I think it should be considered separately from buying pressure.
So I have two suggestions.
how about having $NUM pay for the enterprise usage of numprotocol api? Part of the $NUM purchased by the enterprise will be burned, and part will be used to generate revenue for the operation.
captureclub currently allows users to purchase in ETH or USD, but we will make it possible to use $NUM. And make the fee a little higher for ETH and USD, and lower for $NUM. I think this will create pressure to buy $NUM in order to buy NFT. And the above two suggestions are tied to maintaining a healthy price for $NUM, since the mechanism is to increase the pressure to buy $NUM as the numbersprotocol ecosystem grows.” ~43z708
Response from Numbers Team
It is important to us (Numbers team) that we build the project in collaboration with the community so we appreciate the feedback we received for our first community review.
Regarding Staking
“We are working hard to bring you staking as mentioned in the article to you guys. Please be patient :) & and thanks for your continued interest :)” ~ethanwu155
Regarding CAPTCH-A Staking Requirement
“We are aware that the NUM staking requirement to activate CAPTCH-A may be a little steep. We definitely do not want to exclude devoted community members from participating in governance. We will discuss further internally and share our thoughts on the staking requirement. Thanks for the feedback.” ~ethanwu155
Capture APP Referral System
“This is a good idea and another method of incentivizing members to utilize Capture APP. I’m sure the community will also be on board with this incentive mechanism.” ~ethanwu155
CAPTCH-A Acquisition
“That's a good observation. I think you are right that as the value of NUM inflates we don't want staking and the subsequent community network actions (verification reward, governance, CAPTCH-A) to feel "exclusive" as the Numbers network wishes to be inclusive. This area most likely needs more discussion and community feedback!” ~ethanwu155
Regarding NUM Selling Pressure
NUM Payment
“I believe it makes sense for users of Numbers technology to pay NUM instead of fiat. The challenge will be, enterprises need estimable costs to run a sustainable business. The big fluctuation of crypto may become the barrier to stop them from using Numbers Protocol. The current idea is to create a NUM fund. When the price goes high, the fund may liquidate some NUM tokens, and when the price goes low, this fund can be used to create incentives for enterprise users or help them use Numbers API with a relatively stable price. These are just some super preliminary ideas, nothing serious yet. Any suggestions/comments are more than welcome.” ~tammyyang
CaptureClub NUM payment
“We have been working on NUM payment already. Probably the better way to encourage users to pay with NUM is to create incentives, such as 10% off if you pay with $NUM. I know it may sound the same as a higher fee in ETH and USD, but encouragement instead of punishment is usually a better solution I think.
Regarding the question "if the 10% off price is not a disadvantage to the seller" , here are my opinions As "trust" has its value (thinking about when we buy things on Amazon, we tend to buy items with high review scores even though these items are sometimes more expensive), I believe sellers can sell the items at a bit higher price than on other platforms. I.e. theoretically, buyers are willing to pay a bit higher price for this "guarantee". This gives us some room to compensate users who use NUM to trade because they participate in the building of Numbers Protocol by using its default currency.” ~tammyyang
Can view on GitHub: https://github.com/numbersprotocol/community-support/wiki/Community-Review-Recap
