Month in Review: February 2024
BULB Month in Review
Howdy BULBers,
We have seen a number of exciting developments happen in the web3 space so far this year. Notably, the approval of Bitcoin’s ETF has signalled greater acceptance of crypto’s legitimacy as a digital asset in the traditional finance space. This development has definitely helped lift up the sentiment for many other meaningful crypto projects out there as consumers are once again interested in Web 3.0. Did someone say bull run?
Let’s dive into the exciting developments happening on BULB...
Growth in Platform Activity
Latest BULB Leaderboard
First of all, we saw the strong momentum in user growth from last month carry on into February, reaching the milestone 50,000 user mark! This is a huge milestone for the community and will help us generate greater visibility and discoverability of the platform as word spreads..
Latest BULB Token Spending Snapshot
With the increase user numbers, we want to showcase how the spend of BULB tokens has has increased over time. This is extremely promising because the fundamental value of the BULB Token is based on the value of its use cases and circulation of the token on platform. We have noticed that BULBmoji NFTs, energy and boost post are consistently the top 3 use cases, which indicates to us that Spend-to-Earn use cases seem to be most popular amongst users. Going forward, we will continue to develop more exciting and powerful token use cases and build further value in the BULB Token through product development.
Product Development & Upcoming Events
In February, we were super excited to see that Tweet Embeds are finally supported on BULB Blogs! This was a highly requested feature from the community and we made sure to prioritise features that the community needs and wants. Now, anyone can copy and paste the tweet link and BULB will automatically display it as a tweet inside the blog body - amazing!
In March, we have a few exciting product updates:
Automated BULB Moderator Recruitment
Where BULBers can automatically become a platform moderator upon satisfying a few criteria to ensure a high moderating standard for the community.This feature also includes greater visibility of Moderator performance.
BULB Staking
Where BULBers will be able to stake BULB Tokens to further boost their earnings potential through a points multiplier (on top of their BULBmoji NFTs). Stakers will also receive a % share of all token spending based on the following ratio:
(# BULB Tokens Staked by User) / (#Total Staked BULB Tokens) x 100
Extra BULBmoji NFT Slots
Where the maximum BULBmoji NFT Slots will be increased from 3 to 7, so that BULBers can simultaneously activate the entire suite of their BULBmoji NFT Collection and say bye to unnecessary switching in-and-out.
Tokenomics Revamp
BULB’s Tokenomics structure will be changing in late March, more details will be revealed in the coming weeks but changes will be focussed on Token burning and burn mechanics and improved distribution of spent tokens
These 4 major product features will all be pushed out in the coming weeks to make BULB an even more exciting platform to write and read!
As for the BULB Token Liquidity Event, because we know someone in the comment section will ask “wen listing”... please look out for official announcements during March. We will be providing a comprehensive update on the BULB official liquidity pool and changes in tokenomics in the next few weeks 🚀💡
Rewarding Amazing Users on BULB
As usual, we would like to take this opportunity to congratulate the following newly Certified BULB Writer:
@Leenah is one of our rare level 10 users, and has been consistently creating high quality, valuable and entertaining content to the BULB Platform, as well as being active community members from supporting other writers to suggesting new ideas and sharing insightful thoughts. The BULB Team is grateful for your contributions!
A side question, what does everyone think of potentially switching to a community-based voting system for dubbing BULBers into certified writers?
Final Remarks
We want to thank you everyone for your continued support and for making BULB such a beautiful place to write, read and earn.
We look forward to sharing more exciting news and updates with you next month. March and April 2024 are literally going to be the biggest months in BULB history 🚀💡
-BULB Team
