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What if musing had it's own token ?
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First of all this is not so easy to take any new crypto in market. And musing is a steem based dapp. So its not possible to make its own token! Or if it's possible then you will be rewarded with that token. So its not a hard question to answer it. And I think its not possible to get any new token from musing. So remove the question from your brain and start working on steem blockchain as well as you working. Thank you!

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2 Comments

I think that this could be a good idea. Musing could launch its own SMT at the start of next year, or could even launch now, like Actifit, with an ERC20 style token that converts to an SMT at a later date.

The token could be part of the rewards system, with questions and answers rewarded in both Steem and MusingSMT. Tokens could also be earned by the manual review team for their work, and also by users who spot and report plagiarism, bots or other issues. The token could also be used as a way to fund development, with bounties for particular tasks. There could even be a link to advertisers who could be allowed to ask branded questions (what do you like best about this product) in return for a fee in SMT.

However the key thing with SMTs is utility. Once you have earned all these tokens, as an individual, what can they actually be used for? There is nothing currently in the musing application that you have to purchase and no obvious use case at the moment. 

So while I think this is a good idea, there needs to be a clear strategy built around how the tokens can be used, and thus how they will have utility. Without utility, the SMT (and SMTs in general) will only have speculative value, which is unsupportable.  

The strategy would require changes to the current application, and it will be important that those changes don't damage the basic premise of musing (which is strong) or the user experience (which is good).  I think it is possible but it needs a lot of careful thought to work.

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https://i.imgur.com/fcS8JH2.jpg

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1 Comment

This is certainly an intriguing possibility, Although I have nothing against Steem (in fact I love it!) but I would like to see musing spread its wings further and take a longer flight. On the other hand, one might argue that musing has been doing just fine until now and it would also be a valid argument.

I would just say one more word - SMT. With smart media tokens coming up we have a possibility of musing.io having a token of its own in the future. I guess it remains to be seen how things unfold.

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That would be pretty cool! Musing is not that big right now, and even with a token, it might not become very big. However, there is a lot of freedom about how to use Smart Media Tokens. If anything, it would be an improvement without downsides.

Something that could be possible with SMT's would be the introduction of a point system where people who interact a lot get a bigger percentage of tokens, and also parallel rewards with upvotes being given together with tokens for good questions and answers.

It's a good idea. I wonder if the Musing team will look into this.

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It would mean that you get your rewards in musing tokens and not Steem. Other than that I don't see any difference. 

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It will be a good thing., an improvement know the system and also they can use the tokens to get more user's and also reward the loyal ones

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