BACKGROUND
Our previous site SteemPeak launched a promotion system last year and when we launched PeakD we always had plans to upgrade it. And now the upgrade is live. We'll share everything you need to know about it and the differences from the old SteemPeak system.
RESOURCES
We are adding this to the PeakProject FAQ community where you can find all sorts of educational documents and answers to your questions.
FAQ Community Page
FAQ Table of Contents
DIRECT LINK TO PROMOTIONS PAGE
WHERE AND WHY?
This promotion system is only for TOPIC PAGES and now SELECT COMMUNITIES
Meaning the rest of PeakD remains promotion free... and because topic promotions BURN HIVE that makes them of a benefit to ALL Hive account users... therefore seeing promotions may give you a warm happy feeling knowing it slowly decreased supply of Hive while giving Hive tokens an added utility. Thus impacting "Supply and Demand"
The newly updated promotion page asks you 4 quick questions
- What do you want to promote?
- Where do you want to promote it? (4 options)
- For how much hive?
- For how long?
That's all a normal user needs to know... but the rest of this post answers all the really detailed questions.
We hope this experience is very intuitive for users.
- Post is surrounded by orange and has an orange "PROMOTED" button.
- When hovering or clicking on that button you can see how much was burned (not spent) for the promotion.
- You can also see it's current score for that moment in time.
- Of note the X allows users to remove the add from that page.
- Below you'll see that posts are ordered like this presently
- Position 1, 9, 17, 25 ...
Technically it's like splitting the general promotion we did for SteemPeak promotions and now there are two versions.
ATP: The All Topics Page
This is the page a lot of you call TRENDING we call it the All Topics Page and it's more than just sorted by the "trending" algorithm ... your promotions will also go into the Hot algorithm sorting as well.
- This is one of the most viewed pages on our site so it's a popular place to put a promotion.
EVERY TOPIC PAGE
This means you get the ATP and every other topic page out there. This is likely similar to the old steempeak general promotion system.
- This is more likely for large scale promotions generally we have seen used by companies promoting an app, event or notice that applies to everyone using Hive.
- The minimum hive for this promotion will be significantly higher than others because a post promoted with this option gets promoted on hundreds if not thousands of smaller pages.
It's a small change but makes it much more intuitive
You get a 10x multiplier if you choose 1 topic
It goes down to 5x if you choose 2 topics ... and so on... simple math.
We are starting a test run of allowing promoting posts in communities that desire it.
A community is a place owned and moderated by a select group. They have their own rules and expectations.
Each community can decide to have promotions or not have them.
Qualifications for Communities
These may change over time but as we test a small group of communities we are going to allow it for all communities of over 500 subscribers.
SETTING UP A COMMUNITY TO ALLOW PROMOTIONS
- IF you are signed in as ADMIN/OWNER of community
- IF you have 500+ subscribers
Then you'll see this option
Get there on the community page through settings
Community Rules
- We make each promoter say that they have read the community rules
- So communities will be encouraged to share if they have any rules a promoter should respect. In the future we may have more features that help a community moderate what types of promotions enter their community.
BUT any community enabling promotions should understand this is a Beta experience and recognize there is not much moderation control on promotions. PeakD itself has little if any abuse of promotions to date if that makes community owners feel better.
Promotion scores determines placement on the pages.
- Basically It's how much hive you spend.
- If you promote for multiple days it's spread out among those days ... meaning hive amount divided by days and each day gets that promotion score.
- And if you post to a specific topic it gets a multiplier dependent on how many topics you promote to.
TIP: If you're promoting for multiple days you may consider increasing your promotion amount.
HOW PROMOTION SCORE INFLUENCES PLACEMENT
Basically each page has a total of all promotion scores... your portion of that total determines your placement in the TOP SPOT.
- You will ALWAYS be placed it's a bit complex math to give you a cerntainty of each of the other placements.
- You will see how your promotion score compares to other promotions that have come before you.
- YOU CAN UP YOUR PROMOTION SCORE... Simply do another promotion to the same post in the same promoted location and your score will go up.
EXAMPLE:
- If you have 12 of a total of 100 promotion score ... then you will show up at the first placement 12% of the time.
- If there were only two users you'd be first 12% of the time and second 88% of the time. However there could be lots of promotions or very few. You may end up in every single placement configuration throughout the day but you know you'll end up at first 12% of the time.
QUESTION: Can you promote longer than 7 days?
That's something we are working on for early access contact PeakD on discord to be whitelisted.
This is maybe the biggest change to how the PROMOTION SCORE is calculated.
Previously we had one length: 5 days. Now we let the user select the length. Now you can promote based on your actual time needs.
TIMING
This was really important because some posts were very timely in nature and some users didn't want their post promoted for 5 days because it was only relevant for a couple days.. For examples events that are 2 days away or competitions that are 4 days away.
7 DAYS
We are also testing out allowing for 7 day promotions... since that is the length of most posts. Longer periods may impact users who sign into PeakD.com less frequently.
DAY MULTIPLIER
No matter how many days your choose your Promotion score is the same over the course of the time you select.
If you choose more days it just gives a lower score per day.
- 1 day is 1x
- 2 days is .5x
- 3 days is .333x
- And so on
Community Promotion Split
We are planning to allow these numbers to be flexible by the community but that is a future feature set.
- right now it will be 40/40/20 (40% peakd 40% community account 20% null/burned)
- In the future you can change two accounts and their percentage splits.
- In the future we will have a tiered system that reduces the peakd % based on performance of the community.
We want to empower community organizers to build large and thriving groups of users on PeakD.com. Allowing them to earn money and give advertisers that are interested in their community an easy way to promote to their group.
Ideas for Community Revenue
- Use money for prizes and competitions
- Hire people to work on the community (moderators, designers etc)
- Pay for future feature sets built on peakd/hive
- Power-up and curate posts in the community
- Promote your community elsewhere on PeakD or the internet at large
Promotions system slowly increases utility and DEMAND for HIVE while decreasing the SUPPLY by burning often 50% of the promotion cost.
We tested the first system on SteemPeak with a really high burn rate.
We are moving it down to rate that will actually bring in a respectable revenue for PeakD. We think that generally a 50/50 split is a fair relationship with the community and promoter.
WHY BURN? While communities have an owner that can receive the direct benefits and decide what to do with it... Topic pages are a place that are a common gathering area for Hive so it makes sense that a good portion of the promoted amount goes to benefit the user base of Hive at large.
So therefore we want a system where when the user sees a promotion they have a feeling like this promotion benefited me in some small way.
We acknowledge that the previous system didn't change the economic course of the blockchain from the burning but it did burn well over 8000 steem/hive tokens and now the site is used by way more users and the promotions are larger than ever with many users promoting with well hundreds of Hive a week.
https://peakd.com/me/tools/promotions
ABOUT PEAK FAQ PROJECT
- All articles are posted in this Hive community
- This document will be updated with links to all FAQ articles.
- Project ran by @peakd. Main authors presently: @jarvie
- Please submit more questions here.
Please follow up this post with any other questions you have for this topic