art by @krunkypuram
INTRODUCTION
This post will act as the initial white paper for WeedCash Network. WeedCash Network was the 1st SCOTbot powered front-end and has evolved along with Steem-Engine from the very beginning. This document is an effort to layout the basic purpose and framework of the network.
WEEDCASH.NETWORK
https://weedcash.network
WeedCash Network serves as an online community for businesses and consumers in the cannabis industry. Users are incentivized with cryptocurrencies like WEED and STEEM.
Problem: Cannabis Content often gets Discouraged and Stigmatized
- Both Facebook and Instagram, two of the biggest social media platforms for businesses, are notorious for shadow banning, and deleting accounts of legally operating businesses in the cannabis industry. We offer these businesses and content creators a home.
- The big social media companies are known to track user information and sell this information for a profit, without rewarding their users. This all changed with Steem and Steemit.com.
Solution: Encourage Cannabis Content with Cryptocurrency (Steem, WeedCash, and more)
- The WeedCash Network continues the innovative spirit of Steem by being the first community created with the Steem-Engine suite of tools which enables earning multliple tokens at once including WEED, STEEM, SBD, and now DTC, PAL, CCC, and more.
- Along with the cannabis industry, cryptocurrencies, and social networking continue to grow at rapid speeds. It's inevitable that the industries would begin to merge. We've already begun to see evidence of this in the crypto-cannabis space, and the crypto-social media space. We’ve even seen the first crypto-cannabis-social media in Smoke.io. We believe there is a great deal of overlap and a lot of room for growth and innovation.
- WeedCash Network is solving the issue of cannabis related content being censored on other social media platforms. On our websites, crypto and cannabis enthusiasts are encouraged to share their ideas, stories, and knowledge about cannabis (and other psychedelics) and don't have to run the risk of being censored or removed for this type of content.
- On WeedCash.Network, we encourage you to share your expertise and knowledge on the subject of cannabis and other psychedelic medicinal plants. You will be rewarded with WEED tokens by a revolutionary crowd-based, stake-weighted, voting mechanism pioneered by Steem and advanced by Steem-Engine. This has already enabled a small community to develop around the power of these medicinal plants and we hope to nourish this community into a strong future.
ECONOMICS
Total Supply 420 Million
42 Million WEED has initially been issued mostly to @weedcash to create the reward pool for future distribution through https://weedcash.network
Faucets and Sinks
You can think of the distribution of the supply of WEED and demand for the use-cases for a currency as faucets and sinks respectively. Faucets include distributing WEED through rewards and sales. Sinks include accepting weed for use cases like services and products.
Initial Distribution - 42 Million WEED
Team - 26,920 WEED
Team Distribution(@coffeebuds, @richardcrill) for starting SCOT Bot and Nitrous
420 WEED to @coffeebuds - Feb 20th 2019
10,500 WEED to @coffeebuds on May 5th
10,000 WEED to @coffeebuds May 14th
6,000 WEED to @richardcrill May 14th
Air-Drop - 71,400 WEED
21000 WEED airdropped to 50 Steemians – May 3rd – 5th
50,400 WEED airdropped to 120 Steemians - July 7th 2019
SCOT Bot(@weedcash)
For Future Distribution (Reward Pool)
41,901,680 WEED to @weedcash May - October 2019
WEED RICHLIST
https://steem-engine.rocks/tokens/WEED/richlist?page=1&sort_field=stake&sort_order=desc
REWARD POOL
The current reward pool is 1800 WEED per day. Current settings have this amount decreasing by .5% every year. This could be adjusted in the future based on the size of the user base and the price of WEED.
HOW TO EARN WEED
3 ways users can earn WEED and percentage of the reward pool
PoB - 75% - Proof of Brain - Content Creation(45%) and Curation(30%)
60% of PoB Rewards go to Content Creators
40% of PoB Rewards go to Curators.
Account holders can earn WEED through PoB rewards by utilizing weedcash.network
WeedCash Network users can earn WEED, our SCOT token, by staking (powering up) their WEED. Staked WEED is called WEED Power and is your influence on the platform rewards. The size of your upvote depends on the amount of your WEED Power.
Earn WEED and WEED Power by creating original, cannabis related content and getting upvotes on that content, and by upvoting posts and/or comments to earn curation rewards.
PoM - 20% - Proof of Mining Mining coins - WEEDMM and WEEDM
Not interested in creating or curating cannabis content? No problem! You can still earn WEED by "Mining". 20% of the reward pool goes to stakers of "Miner Coins" WEEDM(4%) and WEEDMM (16%).
WEED MINER MARKET
https://steem-engine.com/?p=market&t=WEEDMM
https://steem-engine.com/?p=market&t=WEEDM
PoS - 5% Staking Rewards Stake WEED
Simply Staking WEED gives you proportionate rewards based on the amount that you have staked.
WEED MARKET
https://steem-engine.com/?p=market&t=WEED
USE CASES
2 Use Cases on https://weedcash.network
Staked WEED is called WEED Power which gives you more control over post payouts and allows you to earn on curation rewards.
Post Promotion - WEED is burnt for promotion by sending it to null to promote your post to the trending and hot pages.
Potential Use Cases
Our goal will be for Cannabis related businesses to start loyalty programs that includes the purchase of products and rentals payable in WEED. This will be offered in the future , depending on future partnerships, regulations, and/or the success of WEED and WEED Miner sales to enable us to start the CoffeeBuds business and/or enter into partnerships with cannabis related businesses.
COFFEEBUDS
CoffeeBuds is a private club for cannabis, cryptocurrency, and coffee enthusiasts. The goal is to have brick and mortar locations that include a craft coffee shop where you are allowed to consume cannabis legally and use WeedCash(WEED) for payment for everything we sell. Initial locations are being looked at in California and Colorado where local laws and city councils are favorable to the business.
SCOT BOT SETTINGS
Settings are susceptible to change
author_curve_exponent: 1.3
author_reward_percentage: 60
cashout_window_days: 4
curation_curve_exponent: 0.5
downvote_power_consumption: 200
downvote_regeneration_seconds: 432000
downvote_window_days: -1
enable_account_muting: false
issue_token: false
json_metadata_key: tags
json_metadata_value: weedcash
miner_tokens: {"WEEDM": 1, "WEEDMM": 4}
mining_pool_claim_number: 100
mining_pool_claims_per_year: 8760
pob_pool_percentage: 75
posm_pool_percentage: 20
post_reward_curve: default
post_reward_curve_parameter
promoted_post_account: null
reduction_every_n_block: 10512000
reduction_percentage: 0.5
rewards_token: 1
rewards_token_every_n_block: 16
staking_pool_claim_number: 100
staking_pool_claims_per_year: 8760
staking_pool_percentage: 5
token: WEED
token_account: weedcash
vote_power_consumption: 200
vote_regeneration_seconds: 432000
vote_window_days: -1
WeedCash ScotBot Settings Summary
4 day payout windows
Unstaking occurs in 42 days in 6 installments - 1 per week
Reward curve is superlinear at 1.3 to encourage keeping WEED Power on one account rather than spread out.
Author/Curator reward split is 60/40.
To get a vote which receives WEED the post has to include “weedcash” as a tag or be posted on https://weedcash.network.
The inflation rewards shrink every year by 0.5%
Voting calculation works like steemit.com.
You get 10 votes a day similar to steemit.com.
Your voting power recharges completely from zero over 5 days (20% per day).
PROBLEMS
- Facebook, Instagram, and Youtube shadow banning/censoring, and deleting user accounts of legal cannabis users and businesses.
- If your account does get deleted then you have to start over with an entirely new account and have to start over with acquiring followers. Your followers won't be notified of your new account either. Hashtags used won't link back to your new account. It's like starting all over from scratch.
- People want a safe place to share and connect with other cannabis content creators/users without fear of their account getting deleted/shadow banned.
- Dispensaries can't promote store promotions for fear of looking like they're selling cannabis online, often resulting in being deleted.
SOLUTIONS
- On WeedCash, you will never have to worry about your account getting deleted, or losing your followers. for creating cannabis content on the platform.
- WeedCash Network is built on the Steem Blockchain, a decentralized social media platform, so your content is stored on the blockchain.
- Legal businesses are able to promote their products without fear of their accounts being deleted.
WEED MARKET
https://steem-engine.com/?p=market&t=WEED
420,000 WEED are available for STEEMP from @weedcash
20,000 WEED at 0.042 STEEM
20,000 WEED at 0.084 STEEM
20,000 WEED at 0.21 STEEM
80,000 WEED at 0.42 STEEM
80,000 WEED at 0.84 STEEM
100,000 WEED at 2.1 STEEM
100,000 WEED at 4.2 STEEM
art by @thelogicaldude
