The video explains the BitcoinMYK project's curation rewards system, which awards tokens both for creating posts and for curating (liking) others' posts. Each like a user receives translates to one BitcoinMYK token, and each like a user gives also yields a token, making posting and curation equally valuable. The model is framed as a "proof participation" approach that values community engagement rather than subjective content quality assessments used in traditional competitive‑pricing or stake‑weighted voting systems. A staking multiplier is introduced: for every 100 tokens a user stakes, they earn an additional token for each activity (receiving or giving a like). Rewards can be claimed to either a FreedomX exchange wallet or a Steam Engine wallet. The presenter notes that, so far, spam has not been a problem and outlines basic anti‑spam measures (e.g., timing analysis) while acknowledging the model may evolve. The overall goal is to simplify incentives, encourage broader participation in curation, and avoid the complexities of valuing posts by quality alone.
Chapters
Welcome back to the channel, and today we will be explaining curation rewards and how they work in the BitcoinMYK project. So, uh, today we're gonna pick on Mr. Fred again and, um, bring it to our— to the, um, user interface here. So what happens is we can see here Fred's done a series of 8 posts. 8, um, and, um, so the amount of posts he does, it shows that, and it shows how many likes he's received. He's received 5 likes. Now, to kind of understand, is each like represents one of our BitcoinMYK tokens. So it's a very democratic process, uh, depending on the amount of likes you get, that's how many tokens you receive from the community. Uh, but now how curation works is our curation, it's a, it's a very simple process and we did it that way deliberately. So we chose to do something different with this project. Uh, some projects use some type of series of stake-weighted voting. Uh, some projects use, um, you know, more of a, uh, I guess you could say you only get compensated if someone likes the post. We, we have a, a different method here at Playhere where when you post, you automatically earn on every post you do. But in addition to that, uh, the likes you give out, uh, not only does the person get tokens that you like their content, you also get, uh, tokens, right? So like you can see here, Fred liked 3 posts. He's going to receive 3 tokens. So it's a very simple process. The curation process and the posting process value-wise equals out to about the same thing. And we did this intentionally because, uh, we believe that when new projects come into the space, uh, from our standpoint, we want to provide something unique and new. And there are a lot of projects that kind of have similar concept and idea about how you're paid for your blog posts, how you gain value. So we want to experiment with something a little different. We want to find out what would happen if we kind of got rid of the community curation valuation model that we've kind of been using up until now. From a business standpoint, it's kind of— it's become kind of complicated for us to try to value and gauge what exactly the value of a post is. So it becomes this very randomized thing where people are just kind of, you know, voting for whatever reasons. And sometimes the problem with that is that depending on the quality of the post, they don't always get rewarded on par with maybe the output of the post. So to try to avoid all those complexities, just make this very, very simple. You get paid in our model based on participation. We call it the proof participation model. So it's more about your engagement and what you do than actually us deciding, well, you know what, this, uh, paper you wrote, this article you wrote, um, it, you know, it's, it was written like it was done by a PhD, and, um, you know, and thus we're qualified to say this or that, instead of kind of getting in that neck of the woods, we, we chose something very, very simple to go, hey, well, you know, if the community is engaging with you and you're participating with the community, the value system is going to be more based on that. We're going to try to stay out of the, uh, the curation, uh, competitive pricing model because we know what competitive pricing, it generally protects everyone from the value of a post, uh, uh, you know, being in relation relational value quite different from another post. You know, as to say, with competitive pricing, a person can always go, well, I can get this same, uh, this very same product over here, does the same thing your product do, but I can get it for a better price than that. Whereas in many of the models we've seen, a person can give a ridiculous amount of money for a project or, or, or the value of a post, which is something that wouldn't happen in traditional markets. Like, you wouldn't walk into a car dealership or whatever you're valuing and your local grocery store and go, hey, I'm gonna buy this loaf of bread for $5,000 because it's that same loaf of bread and many others that are being sold for 4 or 5 bucks. So you would just go there and get that, right? You wouldn't just steal, go, well, this deserves this, that, and the other. So we've tried to avoid that, but this is a very simple process. When you like someone's post, You're going to get paid for likes. Now, I know a lot of people say, well, people are just going to continually scam and scam or spam rather, and maybe scam and spam is the proper word. Try to scam and spam the network or spam the network. We don't see that that's happened as of yet. And we have things and, you know, methods here that we can stop just people who are spamming. You know, we can tell by the amount of time between likes, and there's a variety of models we can, we can use to control that. But we want to try something different here and something we thought you all might like better. So the curation process starting out here is very simple, and the likes you give are equal to the likes that you would get for posts. Now, uh, now we're— there are some similarities of what we do. We have something called a multiplier, and basically what that means is whether you're curating a post and you like a post or you receive a like, what generally happens with the multiplier— and you'll be able to see this on our staking page— is when you stake tokens, if you stake 100 tokens, um, what happens is for each 100 tokens you stake you get, you receive an additional token per activity you do. So every time you like someone, if you have 100, over 100 tokens stake, you're going to receive an extra token for that like. Every time you receive a like, if you have over 100 tokens stake, you're going to receive an extra token for that, for receiving a like for that post. So it's very quite very simple, uh, and we meant to make it exactly like that. Then all you have to do is Come down here and claim, uh, your rewards, and they will be sent to either your FreedomX Exchange wallet or your Steam Engine wallet. So very simple, and we think you guys are gonna find this a lot more easy, fun to use than some of the other curation models that we've seen out there. And it's pretty much as simple as that right now. Um, and so, so far we don't see, you know, where the, um, the models being, um, where there's, you know, we're dealing with a lot of spam or anything like that, but it is early days and we're not saying that the model won't adjust later on if we find it to be problematic. But we think right now it's a good, easy way to get people involved, encourage them to want to curate because We have to keep in mind that curation to incentivize, and I think this is probably one of the easiest ways to incentivize it, but by incentivizing curation, you're going to have people more active curating. Because the big problem with curation is people just aren't really incentivized to curate unless they have a large amount of stake in the network. Generally, the curation amount is going to be so small, a lot of people just aren't going to be encourage to curate. But with something like this, I would imagine that if you're earning a token every time they give out a like or something like that, I would imagine that they're going to be, you know, a lot more incentivized to participate in a curation process like this. But that's all I want to say in this video. If you have any questions about how curation works, how the multiplier works, feel free, feel free to ask in the comment section. Uh, but that's all we want to say in this video. Uh, if you like content like this, don't forget to like, subscribe, and until next time, take care.
