The launch of Voice tokens is at hand. By the end of 2021, Voice users may be able to access the real Voice tokens and, we assume, exchange them for other assets. While we don’t have official release dates, we’ve gathered some interesting insights from a Voice post written by Richard Whitner, VP of Architecture at Voice.
Voice users are to expect a flurry of changes in the app, mainly in the areas of token supply and usage, as well as platform dynamics. Before the Voice token is launched, the Voice team will have to get approval from regulators in different jurisdictions while they strengthen the token infrastructure and optimize incentives for token holders.
Optimizing incentives for token holders would include reducing the inflation or supply of Voice tokens by reducing the daily rewards. There would be a fairer distribution of daily rewards where creators will get a larger share of the rewards.
‘Voice It’ is one important feature of the Voice platform that gives users the ability to spend Voice tokens to promote a post. This feature will be changed in some exciting, yet undisclosed ways.
There’ll also be a second token reset. All these changes could come smoothly but there may be some glitches and inconveniences. So be prepared, if you notice anything weird, don’t hesitate to reach out to the Voice team.
And while you’re browsing Voice, make sure to check out these high quality posts:
First up is a great piece by Phillip Hamnet of EOS42 called “How the success of block.one is linked to EOS.” Phillip leads the readers on a journey that explains why Block.one’s approach to building blockchain technology differs from many of its smart contract competitors. For example, the development of many smart contract platforms is funded through the sales of that protocol’s token, leading those platforms to require short term pumps to increase the revenu the team can earn by then dumping their tokens on the market. Block.one, being the most well-financed company in crypto, does not need to abide by the same ‘old’ playbook. By analysing Block.one’s motivation and business strategy, Phillip paints a clear picture that aligns Block.one’s interest with the interest of the EOS Mainnet.
One of the more direct examples of these aligned interests involves Block.one’s EOS tokens, which represent just under 10% of the tokens on the EOS Mainnet. Since the new PowerUp Model enables stakers to earn their share of all transaction costs on the network, token holders will be rewarded as on-chan activity increases. Unlike Ethereum where network fees go to miners, EOS tokenomics are different and correctly aligned with token holders who receive these network fees. As one of the largest token holders on the network, it’s clear that Block.one stands to benefit from increased EOS usage.
Next up, we want to highlight a very popular article written by EOS Nation Co-Founder and CFO Vincent Grenier titled “What is EOS and Why Should You Care?” In the article Vincent eloquently describes the numerous advantages of building on EOS and also highlights and destroys common EOS FUD that is often repeated by those without a deep understanding of EOS. The post clearly resonated with a large part of the Voice community as it became one of the most popular posts, earning an impressive 11,000 Voice tokens, 69 likes and 20 comments at the time of publication.
And finally congratulations to EOS Nation Ambassador Patrick Schmid for his first Voice post as an official EOSwriter. Entitled “EOSIO – The Birth of Multi-Chain Harmonics Universes,” this article is the first in the “EOSIO Ecosystem Insights” series that aims to educate startups, developers and project managers that want to integrate their platform with decentralized networks.
It’s great to see so much high quality content on the platform and we can’t wait for the official launch of Voice later in 2021, which is also when the Voice token will go live.