Tokengo Harvesting
Tokengo Harvesting
Hello everybody! Harvesting is a crucial element of the ecosystem and plays a great part in the TokenGo Community formation. The economic and social incentives embedded in the GoPower token are able to motivate the overwhelming majority of participants to perform certain actions aimed at achieving the shared goal and receiving a timely and fair reward proportional to the contribution made.
TokenGo Harvesting — the process of earning money and obtaining rewards by active Authors and Curators for their contribution to and participation in the platform operation by certain algorithm and for a particular settling period.
Harvesting largely ensures the closure of the TokenGo ecosystem and significantly improves the natural circulation of the GoPower token. It allows participants exchange tokens. Without intensive circulation of domestic currency, characteristic of any effective financial model, success is unattainable. That’s why we use Harvesting as one of the tools that motivates TokenGo Community members to see the attractiveness of investments in the GoPower token. Thanks to Harvesting and the closure of the circulation of GoPower tokens and GoCoin coins, the subsequent use of the token gives confidence in the further growth of its value. GoPower gets additional value for its holders, which, of course, will make our token more popular!
Active social networking, along with forming and selecting high quality content, is among the goals of the Community development.
Any participant can develop the Community by means of creating and posting media content, reviews, expert judgments, translations, etc. as well as participating in discussions, comments and voting on different issues.
Post — an article, news, review or description published by an Author on the TokenGo platform. A post may or may not contain a link to some media content of a third party resource: video, audio, photo, etc.
Comment — a participant’s opinion about any published posts or comments on those posts on the TokenGo platform expressed in writing.
Authors — participants of the TokenGo platform who publish posts and comments. Any platform participant can try his or her hand as an Author.
Curators — the TokenGo platform participants who vote “for” or “against” the content of any posts or comments.
Active Curators and Authors — Authors and Curators whose TokenGo Voting Power value is positive and who have had some Activity over the past settlement period.
Activity — publication of posts, comments and votes under posts and comments published for all the time.
TokenGo Voting Power — the indicator of the amount of GoPower and GoCoins a participant has.
Voting — the process of casting one’s vote “for” or “against” a post and/or comment put forward for public discussion.
Voting Power is directly dependent on GoPower and GoCoins held by the participant. The higher the Power value, the more TokenGo Voting Power this participant has.
The Power of GoPower is 10 times higher than that of GoCoin.
Settling Period — 24 hours after the end of the previous settlement period.
Karma — a parameter indicating the number of the Author’s successful posts taking into account “likes” (votes “for”) and “dislikes” (votes “against”) for published posts and comments.
The procedure of calculating the total amount of rewards distributed among Harvesting participants for a settling period:
During 24 hours, 100% GoCoins are produced by means of the minting procedure.
5% of them are distributed among deputies/miners as a reward, based on the DPoP algorithm.
If we take the remaining 95% as 100%, 90% of them are distributed among GoPower holders as reward.
Thus, 10% remains for Harvesting and Activity.
The amount received for Harvesting and Activity is taken as 100%.
15% of the amount is distributed proportionally among all active Authors and Curators who published at least one comment, post or vote during the settlement period, as a reward for their Activity.
The remaining part, 85% of the amount, is distributed among Harvesting participants.
The part remaining after paying remunerations for Activity is taken as 100%.
This is the total amount allocated for the settlement period which is distributed among Harvesting participants as a reward.
Distribution of Remuneration among Harvesting Participants for a Particular Post/ Comment.
50% are distributed to the Author of the post.
25% are distributed to the Authors of comments on particular posts. They are distributed depending on the number of votes won by each comment, i.e. the more votes a certain comment has, the bigger share of the amount allocated as a reward for this comment is earned by its Author.
25% are distributed for the votes on posts depending on the voting time and the voters’ current Voting Power. In other words, people who have cast their votes and have higher Power value receive a bigger amount than those having a lower Power. Curators whose Power value for the settlement period is equal to zero do not take part in the distribution of remuneration. The amount also depends on the time of the voting and the sequence. For example, the first voters who voted 30 minutes after the publication earn more than those who voted at once or were not among the first ones.
At the same time, there is another rule: each vote cast reduces the Power, i.e. the more a Curator votes over the settlement period, the weaker his or her vote becomes and the less GoCoins he or she will receive as a result of distribution. This ensures self-regulation of the number of votes as it is no use to vote more. Each new voting automatically and proportionally reduces the Curator’s “Power” and, consequently, his or her share in the reward. When the next settlement period starts, the “Voting Power” is restored.
Additions to Distribution
The amount which participants can see for a particular post or comment is directly dependent on the “Power” of the person who has voted for it. Thus, the more votes from people having higher Power a post/comment has won, the bigger share of the total distributed amount is due to the Author. If an Author has won 20 votes from newcomers who do not have any positive “Power” value at all, no remuneration is accrued. On the other hand, there may be only one voter — a “whale” with a very high “Power” value Then, the weight of the vote will be huge and so will be a payout to the Author.
Voting for a post that has just been published is not profitable as only 0.01% of the Curator’s remuneration will be accrued as a reward. Voting in 15 minutes or later provides up to 50% of the Curator’s reward while the remainder is accrued to the Author. When voting is started in 30 minutes or more, remuneration is accrued in full. This rule does not apply to comments.
Votes “for” and “against” have equal force, no difference is made between “likes” and “dislikes” when voting, and the Curator receives the same amount.
“Dislikes” influence payouts to the Authors of posts: the higher the “Power” of the participants voting “against” an article, the less the Author will get. The amount deducted from the Author of the post is then distributed among the Authors of posts having higher ratings.
More information about the Harvesting can be founded in TokenGo WhitePaper.