YUP & the future

Hi everyone!

I have already been using Yup for around six months and it’s clear that it has humongous potential and a great community. What has been around my head for a long time is: will Yup have a future?

If we take companies as an example, they must have income and outcome.

In the case of Yup, the expenses are clear: the curators, the staff, the transactions, etc.
Perhaps the expenses could be lowered by migrating to another blockchain, or to a sidechain like Polygon, but I suppose that if it were so simple, it would have already been done.

But in terms of income, it appears to only come from the liquidity providers, who are largely the same curators who believe in the project. Or at least, those who can afford it.
That’s why YUP must have a real utility, or it will not stop falling in price, which can lead to its disappearance.

I think it’s a good idea to promote the token as a form of payment on different platforms, but I think it should go further.
What is the field in which Yup could have a better adoption? In my opinion, it’s the world of marketing.
All our votes, crossed according to the client’s needs, can have great potential in this area.
For instance, rankings on certain topics can be sold to marketing agencies when hiring certain content creators to launch their campaigns.

Yup has the particularity that it can rate any web page, regardless of the social network. This data would be very attractive for certain agencies when planning a multi-platform campaign.

I believe that all this can be done while respecting the privacy of the curators and can generate income that increases the price of the YUP token, cover the cost of transactions, therefore increase the number of daily votes per curator, and consequently, the overall quality of our votes.

It would be great to hear your opinions on this, as well as for you to add other ideas that could be implemented to make Yup profitable and have a long future.

Thanks!

14 Likes

I think it is a good idea, I hope the moderators take your proposal into account and YUP can be very useful in the future for everyone including myself.

2 Likes

Hey @pakocampo!

Really appreciate how much thought you put into this post. You’re spot on. Coming up with additional utility for the YUP token is top 5 most important tasks for our team + community rn.

Using the Yup score as social indicator of influence across web3 and web2 is where we want to go, and we’re currently working on doing exactly that; how we monetize that is a very important question to answer.

The Issue I see with trying to sell the data to marketing agencies is that we believe that the Yup score data should be open sourced. That being said, we think that potentially requiring people to hold some amount of YUP to access their score or others’ scores through our interface could bring more utility.

Another way in which we can leverage the Yup score is by creating a Yup widget/plug-in that other platforms can integrate with (potentially for some fee, or by holding some amount of YUP in their treasury for example).

Would love to talk more about this because it’s super important we get this right. Are you free for a chat? We have community meetings every Thursday at 15:00 UTC and would be awesome to discuss this more then

3 Likes

Hi there.

I appreciate your comments. I hope to be able to attend the meeting on Thursday although I cannot assure that I can connect by voice, since in the place where I am right now, I only have an unstable 4G connection.

In any case, I would like to extend the idea further so that you all can meditate on it before the meeting and find the pros and cons from your perspective. Also, writing it down helps me put it in order.

My idea would involve many changes, including the voting and rewards system. I know it can be a controversial issue, but we are talking about solving the aspects that can break the project in the long term. My opinion is just one more opinion among the thousands of Yupsters that integrate the community and my intention is only constructive.

I believe that, if the way to monetize the platform is to provide a useful service to marketing agencies, the following objectives should be achieved in advance:

1- Get quality votes, sincere votes:

We all like great rewards to come to us, whether we use them to hold and gain experience, or if we need them to live because we have no other source of income.

What does this imply? Take for example a random man that we will call @Melon. If one day I vote for @Melon and I get a great reward, from then on I’ll always vote for what Mr. Melon publishes.

Is it licit? Yes. Is it against the rules? No. Is it good for the quality of the curation? Definitely not. But it is natural! We are humans! Raise your hand if you don’t have a lucky socks!

Someone will say: well, voting on accounts like @Melon or @yup_io should be not allowed. I think that this would only transfer the problem to other accounts and it will affect the overall quality of the votes.

Let’s take another example, that of a fan of Lady Gaga or any celebrity. This person will vote for everything that the idol posts. Completely licit and normal, but irrelevant on voting.

There will be other users whose case is the opposite, and spend the day looking for tweets, videos or NFTs that nobody has voted for. There can be many reasons, such as adding more URLs to the platform to make it more diverse, or they can even use this strategy to earn greater rewards. Lawful, but equally interested since without this incentive they would not give that vote.

All these cases are perfectly licit but negatively affect voting.

Also, there is the problem of groups that collude to coordinate their votes, especially in these mainstream accounts that everyone knows, something very difficult to detect if we all vote to @Melon or @yup_io.

In any case, there can be no completely honest curation if the reward depends on who you vote for. There are many parameters that can be taken into account when rewarding the votes of each user. If we only look to the speed with which you vote and to whom, we reward the fastest runner, the most strategist, or the one with the most free time, but we don’t value more relevant players.

And of course, if the number of votes is only reduced to a maximum of 19, our curatorship looks very skewed. This platform aims to curate content from all over the internet. The more votes, the more quality in our opinions and the more relevance the work we do has, but the reality has been that we have fewer and fewer votes. And that brings me to the second point.

2- Get the platform to work smoothly.

I’m not a developer and I can go into technical aspects only up to a certain level, so I repeat that all this is my personal opinion.

The question is: Does Yup works fine? Well, I’m very sorry to say this because I love this project, but if we want to move forward, we have to make things clear and don’t fooling around. Yup doesn’t work well. There are delays, many times the indicators don’t appear on certain platforms, there are times when you cannot vote because the RAM has been exhausted or for any other reason, and sometimes it’s not possible to use the protocol for hours. I mean, the problems that have been going on for months keep happening. Less frequently, yes, but they keep happening.

A lot of work has been done, a lot of innovations have been made that I love, such as the collections, the new interface, the new integrations… But the next question is: Is possible to turn Yup into a stable, fast and reliable platform and to go to the next level if it remains in EOS ? I don’t think so.

Therefore, even if it’s a huge job, even if the transition will hurt, I think we all know that it is inevitable that sooner or later we will have to migrate to another blockchain. And if I’m right, the sooner we get started, the better. In my case, I’m a huge fan of Polygon, but I think it’s something for the entire community to decide.

I also believe that there could be an additional solution that could make the platform work much less congested, and it would be that a unique transaction is not generated for each vote. Votes can be stored in the browser extension or on a centralized server, and will only be recorded on the blockchain at the end of the day. That could mean that with the cost of a single transaction we could register 100 votes (for example). This would also solve the old problem of the first multiple vote by several users. The rewards could also be distributed once a day and the details could be consulted in our dashboard quickly, since I believe that a processing of this type of query could be achieved much more efficiently that way. All this, along with the chain change, would reduce transaction costs dramatically and eliminate the possibility of interruptions in the operation of the protocol.

Just today, I have been exploring the Yup live graphs and have not been able to complete some simple searches. And all this is vital, because let’s imagine that @Melon wants to use Yup to get data to help the marketing of his important company. If when he get to know the platform, it gives errors, I don’t think he will give us a second chance.

3- Differentiate from other ad services.

Let’s imagine that the protocol already works fast and well, there are no interruptions, we have solved the issue of the cost of transactions and we have managed to adapt the rewards system so that people don’t have to run to their computer every time they receive notification on their mobile that @Melon has posted. Therefore, everybody uses the protocol honestly.

Facebook and the main social networks have targeting systems that allow you to create fully automated funnel campaigns that make the ads reach your target customers. So we have to find a way to be attractive to potential clients of the protocol. And for this, we must give what others offer, and something else that differentiates us from them.

What can we do so that a client can cross our voting data, and at the same time respect that the Yup score data is open source? In addition, the score data and the votes can be public, but how is it segmented? You cannot know sex, age, location, etc. And these shortcomings would make the data useless for the interests of potential customers.

I have an idea:

Each Yup curator would complete a questionnaire by which advertisers can filter votes. Filling out this questionnaire should have benefits for users such as getting a small extra % on their votes or influence, or otherwise many would not fill it out, so their votes could not be used for this purpose.

This questionnaire should be totally private, and would only be used for data filtering by customers, who would only return the result of votings, not the issuers of the same.

How could this system be done in a simple way for those who want to hire this service? Building a portal in which they have access to this data, either permanently by staking a certain amount of YUP, or by specific searches that may have increasing prices as additional parameters are included in the search.

Obviously, all this cannot work if we don’t have higher quality votes than the main social networks and a failsafe protocol beforehand.

Therefore, and to make a quick summary, I think that if we want Yup to have a solid future, we need to move to another chain, devise a fair and independent reward system from the voting system, and make our curatorship unique and with a great quality.
This could give Yup’s protocol a quality that many may be willing to invest in. Maybe… even @Melon :joy:

Cheers!

3 Likes

@pakocampo you’ve raised some very good points. To summarize:

  1. More utility for the YUP token
  2. General ease of use and stable solutions to transaction issues - increase in votes/user
  3. ‘Sincerity’ around voting - what is ‘valuable’ in terms of curation, and what is natural to users
  4. Unique ad services business

Is that clear? I’ll respond shortly.

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Hey @nir

Yes, that is a good summary.
I also think that it would be logical that the main liquidity pool was in the same chain in which the protocol works. That would make the bridge unnecessary and the resources and maintenance it requires could be used on other things.

2 Likes