[Steemhunt] Development of ABV and introduction of "Hunt Curation Score" and Hunt Token Wallet

jayplayco (77)in #utopian-io • 6 years ago (edited)

Hi, @jayplayco here! Now officially a moderator at Steemhunt and still an evangelist I am using Steemhunt on a daily base but now more moderating users for their hunts.

For all reading the first time about Steemhunt, here isthe elevator pitch.

Elevator pitch : Steemhunt is a Steem based producthunt.

And, some articles which will help the understanding about Steemhunt.

What is Steemhunt and why should I care?
ABV(account based voting) in development
Update for Upvoting Review Comments & Other Developments

As this project is moving really fast I am updating about the development status especially on ABV and the implementation of the Wallet for Hunt Tokens.

0. Repository

https://github.com/Steemhunt

1. What updates are we reading here?

If you want to jump directly to the announcements, please press the links below.

2. ABV Algorithm update

Source :Photo by rawpixel on Unsplash

a. Github repository

Account Based Voting/updated algorithm - Github Link

b. What is changing?

The ABV system planned to have a Leveling system implemented. It was giving Hunters with good hunting results a higher voting power than normal users. This Leveling system had also a max cap, so that no real whales could be born.
But the team behind Steemhunt has revised this Leveling system and introduced the "Hunt Curation Score(HCS) and changed the new Leveling system with following algorithm,

1. For the white-list (to become level 1) - we'll use 2 conditions.
The user need to be Steemhunt user (curation trail doesn't count)
Steemit Reputation should be at least 35 (this is for filtering out alt accounts created for manual civil attacks)

2. Level by "Hunt Curation Score (HCS)"
The only thing that affects on HCS is how much curation effort you put in into Steemhunt.

It doesn't matter:

how much Steem Power you have
how many postings you made on Steemhunt
ranking of the postings you voted on

The only thing that matter is:
The voting weight you used on Steemhunt curation.

If you vote on hunt postings 10 times with 50% voting weight, you spend 500% voting weight in total.
Then your hunt score will be increased by 500 for that day.

You can earn maximum 1000 HCS per day
If you don't have any voting activity on that day, you'll lose 10 HCS per day

Level Voting Range Conditions (HCS scores)
Lv.0 0 - 0 all users
Lv.1 1 - 10 Steemhunt user + Steemit Rep +35
Lv.2 1 - 20 3,000 HCS
Lv.3 1 - 30 10,000 HCS
Lv.4 1 - 50 30,000 HCS
Lv.5 1 - 100 100,000 HCS

c. What does that mean?

The ABV system is ensuring that Bots will have no more power on the voting system at Steemhunt, but only an ABV system is unfortunately not enough to avoid the abusers.
So here enters the "Hunt Curation Score" short, HCS the game to support the ABV system.

One of the issues you will have with an ABV system is that there are curation trails or spam bots with users just upvoting so you have to block them with a leveling system.
The system before was more rewarding hunters who are actively posting and quite good at it. Source The issue with this leveling system was that it couldn`t prevent curation trails to join the game and upvote specific products.

The new system starts whitelisting the beginning only users with a min. Steem reputation level (acutally 35) which makes it difficult for users with low reputation level to vote and therefore influence the rewarding system.
This is making it difficult for newbies to vote and influence the rank of a hunt, but it is still possible to join the community hunting products and writing review comments.
After getting into the HCS system, the only possibility to gain more voting power is to vote on a constant level. It would take about 3 1/2 month to gain the highest level, if you would vote the max of 10 times per day.

At a level 5 you can upvote a hunt up to a voting power of 100, but this has also only the power of 10 Lv. 1 users, which keeps the power on a manageable level and stops the birth of whales within the Steemhunt community.

The implementation of the ABV system with the announced algorithm is planned to be launched latest end of next week, so we are going to see the effects of this system very soon.

3. Hunt Token Wallet Opened

The Hunt Token wallet is now available and if you login to your account within Steemhunt you can find the beta version of the wallet. Just click on your Profile right upside and you will be able to see it on second (if you haven`t followed Steemhunt yet, on third) place.

If you click the wallet you can see two additional buttons called "SP Claim" and "Withdraw". These two buttons are not working yet, so it is actually only a wallet to show how many Tokens you have earned and the transaction history.

The SP Claim button is for all Steem Users to claim the Airdrop of same amount of Steem Power 1:1 to Hunt Tokens. The Withdraw button is for users who want to secure their Hunt Tokens (which will be before SMT launching Ethereum ERC-20 Tokens) on their own Wallet like Myetherwallet.com.
If transfering the tokens to an external wallet makes sense is up to the user, as it will cost gas to transfer the Tokens and as the SMT is still not available there is no exact execution plan how the externalTokens are going to be swapped. My guess is that the user will have to transfer their Hunt tokens from their external wallet to a Steemhunt Wallet to be transfered to SMT Hunt Tokens.

The transaction history is currently showing the history of "Daily rewards for resteem contribution", "Daily rewards for voting contribution" and "Weekly reward for delegation sponsors"

4.Roadmap

The Wallet is available right now and ABV should be ready latest 17th of June (end of next week).

5. Github Account

https://github.com/zionopia

Thanks for reading!