Steem: The Compounding Ecosystem
Something very interesting is starting to take place on here. We are to the point where there are enough projects with some value that they are starting to help each other.
In the past, I wrote about the compounding effect of the Steem system, yet this was primarily focused upon the individual user. We can now see the effects of this concept at a larger level.
@actifit put out a post today announcing their ISO (Initial STEEM Offering) on the Steem-Engine exchange. This will be the first of its kind on that platform, which just held the very first Security Token Offering (STO) on Steem.
Actifit is offering a number of incentives during the ISO to get people to take advantage of discounts and rewards for participating. This is fairly typical of what we see from the IEOs with tokens going at a discount versus what they normally go for. In addition, people who are the "early adopters" in the IEO get additional tokens.
Part of the arrangement with this offering is that one receives a nice bump for buying at least $100 worth of AFIT. The first 30 people who spend this much get an extra 3,000 AFIT. In addition to that, each buyer with at least a $100 purchase will get 20 ENG tokens.
This is an interesting twist and the point that I want to highlight.
Steem-Engine is actually getting involved in this campaign. What is their incentive and how is this exemplifying our development as an ecosystem.
To me, it all comes down to value. It is here where we can a glimpse into the compounding effect of value.
Steem-Engine is a platform that allows token creation while also being a DEX. This team has big ideas as shown by their rapid development. The fact that they already completed a STO with an eye on doing a lot more should excite people. Over time, this should have an impact on the price of the token.
Actifit is benefiting from the value that Steem-Engine already generated. Due to what I just mentioned, this new platform is providing essential services that were missing on this blockchain. That equates to not only present value, but also future.
Along the same lines, there is incentive for Steem-Engine to participate in this venture with Actifit. By holding the offering on that exchange, this is an additional token that is going to trade on there. At the same time, Actifit is a top 20 DApp according to the State of the Dapps website. With somewhere around 700 people each day using the application, it is one of the more heavily used ones in this early stage.
Thus, we see how both parties have incentive to work together. Each brings value to the table that the other can leverage. It is a mutually beneficial situation which should see both projects benefiting.
Of course, those of us who are watching this while holding SP also benefit from the added value these combined entities bring to the table.
In short, this shows how the compounding effect can take place within the Steem ecosystem. We can see how collaboration can net a great deal of benefits. When we toss the idea of competition aside and realize that we are all part of the same cooperative, things become clearer.
We also get an idea of the power of Crypto-Economics. These are tokens that were "created out of thin air". According to traditional thought, they represent nothing since they were just produced out of nothing. The truth is the fact they are tied to particular projects which have their own ecosystems makes us realize where the value is held. It also shows how it is created.
It really gets exciting when we think about the fact that these are just two applications. Extrapolate this idea across hundreds, if not thousands, of different projects. When value is created, it impacts everything around it. We can see this idea really pushing the entire ecosystem forward.
Not only does each activity compound the returns one receives on this platform, it also impacts the entire ecosystem.
Steem is a compounding machine.
Here is the link to the Actifit article.
If you found this article informative, please give an upvote and resteem.
Only 700 active users... it's a drop in a bucket. But if we can add tree to four zeroes to this in a few years it will be grate. The compound effect is much needed
700 is crazy. Such a small number!
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The mutuality of it is what feels pretty good. I like the fact that I am accumulating something extra just by doing what I do here. The fact that I can delegate, and actually buy the tokens using steem makes it a valuable proposition.
I am wondering what is going to happen to the shit tokens but the legit ones should at least hold the value initially invested and help use those dapps for more reward.
It is also exciting to know that those dapps can do their own marketing and increase their user base independently and that steem blockchain will be the gateway.
Awesomeness.
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I agree with the bullish sentiment of this article. I also agree that the value within the steem ecosystem is "created out of thin air". However there can be no doubting the value because people ascribe value to it when they buy steem on exchanges, convert to SP and accumulate more (magical internet money). A lot of people believe in its future. A lot don’t. Who is correct? Only time will tell. I think @actifit is amazing. It’s pretty much the easiest way to earn anything - do a bit of exercise, post to steem, that’s it! Not only do you earn AFIT tokens, you also make a bit of steem through upvotes, comments and a bit of strategic tagging. To that end, I can’t envisage why anyone would buy these tokens*? To be clear, I mean none of this as any disrespect to steem or actifit. I’m just questioning what is value/valuable. Thanks. :-)
*As far as I can tell, this is the ‘value’ in the AFIT token: “available for purchasing fitness related equipment, tools, gadgets, sports wear, gym memberships... and any transactions between providers and actifiters.”
Seems a very good idea to have this ISO hope it goes very well and sets a new lead here to show other's what can be done.
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Closely watching these issuances as they seem to have plenty of interest which is great. I am also appreciative of the modest approach the projects are taking to issue relatively low amounts when compared to the some of the ICOs we saw in 2017 and 2018!
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Thanks for a great post @taskmaster4450, the fact that we actually have an ISO is a real gamechanger, and this will mean a ton going forward.
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