Month in Review: March 2024
Introduction
Howdy BULBers, Welcome to the Third Month in Review of 2024!
March 2024 has been another huge month for BULB with announcements of our new tokenomics structure, liquidity event and release of BULB Staking, it is exciting news all around 🚀
Let’s dive into it 💡
Platform Activity Continues To Grow
Latest BULB Leaderboard
First and foremost, BULB continues to grow month-on-month, with 2,000 BULBers joining the platform in March. Following the influx of new users in January, of which a number were bad actors, we have implemented many bad actor migration mechanisms and will continue to tighten the system to crack down on spam and plagiarism. These updates are all designed to ensure that BULBers who are genuinely sharing their unique ideas are rewarded and those trying to play the system are not.
Major Product Releases This Month
BULB Staking - 31st March 2024
BULB Staking
When it comes to feature releases for the month, we have to talk about BULB Staking first…
In less than a week, we saw close to 30 Million BULB Tokens staked with the first batch of rewards ready to be paid out today! This is an amazing response from our community. Through this staking mechanism, we are also seeing long term supporters of the platform climb back up the leaderboard with the added points multipliers from staking in effect.
If you haven’t already staked your BULB Tokens, we highly recommend you to give it a try to boost your earning potential!
Automated Moderator Recruitment
BULB Automated Moderator Recruitment
This month, we also released the Automated Moderator Recruitment feature enabling any user to become a Moderator after completing several tasks.
Under the new system, any user on BULB can now become a content moderator if they can satisfy the following 5 criteria:
- Report at least 50 comments or posts
- Over 80% report accuracy
- Over 90% report satisfaction
- Reach level 7
- Reach 90 days tenure on BULB
Right now, if you satisfy the 5 criterias and pay the lump sum 50,000 BULB Tokens, then you can become a Moderator.
Content moderation is a persistent and controversial problem on Web 2.0 social media platforms, which often suffers from mass censorship and centralised decision making. With BULB, the community decides what goes on or off the platform as a community and makes decisions in a decentralised manner. This is a very unique system for online social media.
We encourage anyone who meets the criteria to join the moderator team. The more mods on BULB, the more decentralised content moderation becomes on the platform!
Major Upcoming Events
Now onto the major upcoming events and feature releases in April, each promise to change the game in their own way…
April 1st: Tokenomics Structure Update Goes Live
Maximum of 750 Million BULB Tokens with zero token burn
Today, we have implemented the following changes to our tokenomics:
- One-Off Token Burn: 250 Million $BULB was permanently burnt, reducing the total fixed supply from 1 Billion to 750 Million $BULB
- Ongoing Token Burn: 25% of all token spending on BULB is now permanently burnt, while the remaining 75% will flow directly back to the community via the staking reward pool.
- Token Security: Minting authority formally revoked.
We know that this tokenomics update is a fresh, exciting and fair development to all stakeholders on BULB, whether you are a writer or reader on the platform or a hodler/ speculator of BULB Tokens.
10th April: Token Gate Fee
To eradicate the presence of sybil attacks and token farming, we will be introducing a once off token fee to unlock writing and commenting capabilities on BULB. When abused, spam comments and malicious posts can have a negative impact on the user experience of many dedicated and passionate supporters of BULB. We hope you understand that we just cannot allow this to occur on the platform.
The following fees will need to be paid by all new and existing users in order to unlock post and comment features:
Unlock Posts: 2,000 BULB Tokens
Unlock Comments: 500 BULB Tokens
Rest assured, as per the new tokenomics structure on BULB, 25% of all token gate fees will be burnt indefinitely and the remaining 75% will be redistributed to users via the staking reward pool.
13 April: BULB Token Listing
BULB Token Official Liquidity Event Details
BULB’s liquidity event is right around the corner, and we know everyone is getting excited for it 🚀
In short, BULB will be creating an official BULB-SOL liquidity pool on Meteora where liquidity aggregators like Jupiter will route the swapping of BULB Tokens via both official and unofficial liquidity pools. This can also be further traded on crypto trading aggregators like Birdeye.
For more information, we just released an article outlining All You Need to Know About BULB’s Liquidity Event, so you should definitely check it out.
Rewarding Amazing Users on BULB
As usual, we would like to take this opportunity to congratulate the following newly Certified BULB Users:
@LukeJoseph and @Joedes 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. In particular, both users have been extremely active in the moderation department, which is crucial to the sustainability of BULB. For that, the BULB Team is grateful for your contributions!
Final Remarks
The BULB Token liquidity event is coming and we know a number of you have waited a long time for us to get to this point. Timing has been crucially important to the team and we feel confident there is no better time for us to launch the Token. We want to assure you, this is not the endgame and just the starting point for BULB. Becoming the undisputed Web3 blogging platform might get us a little closer, but we can even go further than that.
Thank you for your ongoing support to the project, we can’t wait to see what unfolds this month!
-BULB Team
