Month in Review: May 2024

Introduction

May 2024 has been a month driven by feature development, bad actor crackdowns and the BULB community. Since our token listing in April 2024, we have been busy improving the small hidden feature on the platform, and at the same time, we have witnessed an army of passionate OG BULBers leading the charge and crackdown on bad actors. For that, we are incredibly proud of what the BULB community has achieved together ❤️

Now onto May’s Month-In-Review, this will be a relatively shorter release, so let’s dive into it!

Platform Activity Further Stabilising

Latest BULB Leaderboard

Platform activity has further stabilised in May, predominantly driven by bad actor crackdowns where cartels are systematically identified and banned from using BULB anymore. This is incredibly important as we want to create a platform where genuine ideas and genuine originality are rewarded, not spam activity and plagiarism. We want to especially give a shout out to @MBA ChitChat, @andrewsaul, and everyone else deeply involved for leading the BULB army and charging against the bad actors.

Here’s an article that’s particularly insightful in sharing more behind the scenes thinking on bad actor crackdowns. View @MBA ChitChat article here.

We can all agree that BULB is a better place than before, as we see more and more genuine activity on BULB driven by genuine BULBers 💡

Key Monthly Updates

#1 Better BULB Search Engine

First of all, we understand that our search engine hasn’t been the best, but the good news is that this is now finally improved! You can now properly search and discover topics and authors that you are looking for, which levels up the overall user experience at BULB. 

#2 Monthly Token Burning

Secondly, we have burnt a further 251,875 BULB Tokens for the month of May, which represents 25% of all BULB Token spending on the platform. The other 75% goes straight back to all BULB Token stakers, creating a strong and healthy crypto-economy at BULB. Going forward, we expect more and more tokens to be burnt as we have more users.

#3 BULB Weekly Reward Pool

Thirdly, from 3 June 2024 onwards, we will further slash the weekly reward pool to 500,000 BULB Tokens per week from 1,000,000 BULB Tokens per week. This is because we are committed to bringing equilibrium to the BULB crypto-economy, so that supply and demand are always in balance. This will represent the last reward pool slashing until the next cycle. 

The next slashing cycle will be on 19 December 2024, 3 years after our token generation event on 19 December 2021, where a 50% deflation rate will be applied, resulting in the weekly reward pool to 250,000 BULB Tokens per week from 500,000 BULB Tokens per week. Therefore, every year on 19 December, the reward pool will halve, which increases the scarcity of BULB Token over the long term.

There’s a lot more going on everyday at BULB, and thus, we encourage you to join our Discord so that you can stay up to date and interact with our wonderful BULBer community.

Feature Sneak Peek: BULB Threads

BULB Threads Posting Demo

We won’t spoil too much here, but our development of BULB Threads is going on schedule!

Above is a screenshot of what posting would look like. Broadly speaking, BULB Threads operates similar to BULB Blogs, except there will be a character limit, aimed at encouraging writers to share short, concise and original content. Microblogging and short-form posting is a much larger market than blogging and long-form content, and thus, we believe this feature will be a turning point for BULB and exponentially drive new users to BULB.

Overall, we expect to release BULB Threads late June or early July. This is our topmost priority, so rest assured, that this revolutionary feature in Web3 Social Media will be released to BULB soon. 

Rewarding Amazing Users on BULB

As usual, we would like to take this opportunity to congratulate the following newly Certified BULB Users:

• @ilkamo

@ilkamo have 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. Most importantly, @ilkamo has been instrumental in assisting the rest of the other certified users to fight against spam and bad actor activity. For that, the BULB Team is grateful for your contributions! 

Final Remarks

That’s all for this release!

It is still early days for BULB and everyone involved in this project. No one has attempted to do what we are doing, and that’s exactly why we fight for BULB everyday... because it is worth it. One day, when BULB becomes the No.1 Web3 Social Media Platform in the world, all of us will look back and feel “wow, I really was part of that...” 💡

Back to work now, and we will tackle the challenges one at a time. Thank you for your ongoing support, and we are looking forward to next month! 

- BULB Team