Do you know where does the money on your posts come from? Will it run out someday? What will happen to your posts when there is no money left?
Some of us maybe don't know any details about how Scorum works and don't have the time to read the whitepaper. Actually, I'm not sure I understand it well too. So I made the post so we can talk about it.
Scorum blogging is basically a user-generated content (UGC) platform where writers and curators bring value to it and get cryptocurrency in return. Now we are going to talk about how it works and where the money comes from.
Let me show you some screenshots from scorumcoins.com and Scorum Explorer, then let's talk about it.
It’s all about a system where each participant benefits.
The entire economy of the project is based on the Scorum Coins and the Scorum Power tokens. In our comprehensive and transparent business model, the tokens are based on real value coming from advertising and partner programs.
From the pictures above we know that at the beginning there were 20 million SCR and 10 million SP, in other words, there were 30 million coins. But now there are only 29,023,508.3 coins (SCR+SP) because some token has been burned. I don't know any details about this, but as we can see on Scorum Explorer, we only have around 29 million coins now.
We also know that from the initial 10 million SP, 48% is for rewards. From my understanding, rewards here is the reward pool. So, initially, there were 4.8 million SP on the reward pool. And according to Vlad's post, more than 1,310,000 SP has been distributed from the reward pool, and we have integrated with external advertising platforms. Let's highlight these facts.
In the beginning, there were 4.8 million SP and at least 1,31 million SP has been distributed. Means there are only 3.49 million SP on the reward pool at the beginning of 2019. I think it is safe to assume that the pool would dry in 2020 if we don't refill it with SP. The SP to refill the pool comes from the advertiser's money, 50% of the ads money will go to the reward pool (users), and another 50% will go to the Scorum team (project).
That's why the success of the advertising system is crucial for the blogging platform, we need ads to pay writers and curators. Therefore, it's good to hear that we have integrated with external advertising platforms. We don't know any details about this yet, but I hope it will bring good money to our platform. Since Scorum's revenue is also from the advertising, we believe that the team is trying its best to make it a success.
Besides advertising system, we will have the photo/video database and partnership programs as the revenue source for both the users (reward pool) and the project (Scorum team).
In addition to the blogging platform, we have the betting exchange which we believe will be the main driver of the SCR price. But the betting exchange doesn't bring any revenue for both the users and the project since it's a zero commission exchange. But Scorum may charge some commission for fiat betting in the future and use the money to pay ads space on the blogging platform.
We Need More Traffic
Knowing that the advertising system can't fail or the money will stop flowing from the reward pool. And to make advertising system a success, we desperately need more traffic. That's why I proposed a separate reward pool for pageviews. Viral posts should be rewarded, users who share their posts on social media should be rewarded for each unique pageviews they get. Because they bring value to the table, and more importantly, traffic is the backbone for the advertising system which is the foundation of our economy. Without traffic, there will be no ads, and without ads, there will be no reward pool.
What do you think about this?
Comments