RE: My Hivelist Growth and Development Plan
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I was wondering why you don't accept $com and $list for payment in Hivelist store? The more utility a coin has the better it is for its price stability.
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Good question. HBD has always been the currency focus for the store. LIST was always just a utility token and not really meant to be a currency token. It's utility is to pay for things like store listing, vendor setup, ad promotion services, etc. I am also working on a payment plugin that will let people pay for certain digital products with it, like stuff that I put up on the store. I am trying to build it where those tokens get burned automatically. So there is some stuff coming down the pipe.
The main problem with it, COM, or really any Hive-Engine token when it comes to e-commerce is market liquidity, or gross lack there of I should say unless it's a Splinterlands token, lol. If a vendor were to have a physical product that they had dollar based costs on, then they would have to dump all that LIST and it would tank the price to try and cover cost. Say with something like a print on demand item, we wouldn't be able to accept it. Actually, I have things set up to only accept stablecoin payments for physical items for this very reason.
COM is set up as a community support token. The way you earn it is either by delegating HP to the Hivelist account, or providing liquidity to the diesel pool, which supports everyone. Staking COM gets a portion of our monthly earnings from Hivelist. So it's more kin to a stock than a currency token.
The thing is, this project is built around community and commerce for Hive, which the currency is HBD. That's why with post and curation rewards, you get paid in staked Hive and liquid HBD. It's meant to be spent where Hive is the utility token.
Thank you for the explanation.