LeoFinance Threads - the first true microblogging on the Hive blockchain - are live in open Alpha on the production UI. We've fully rebuilt the UI which is currently in Closed Alpha (see screenshot at the top of this post). That new UI mimics Twitter. It's the OG Project Blank UI but we've decided over the past year to merge Project Blank with LeoFinance itself to build The Everything App on the Hive blockchain.
@taskmaster4450 posted an outlook for 2023 for the Hive ecosystem and in it, he describes a few key pieces of his vision for what will make Hive more attractive as we move into a new year.
One of the sections in his article focuses on Microblogging. He believes microblogging can bring millions of transactions per day to the Hive blockchain.
This is 100% true. He goes into depth on how Twitter does 500 Million Tweets per day.
- This does NOT include likes and other actions outside of an actual Tweet!
LeoFinance Bringing 500 Million Transactions Per Day to Hive
So what if LeoFinance can capture numbers like this with our new Microblogging App that's about to release to Open Alpha (currently in closed alpha) and available right now on https://leofinance.io/threads?
If LeoFinance even brings 0.1% of 500M tweets per day, that's 500k Threads per day.
Right now, we're doing ~500 Threads per day. That's a 1000x from current numbers.
500k transactions on-chain. 500k pieces of content per day. 500k potential pieces of engagement per day...
You see how the pinwheel effect starts to take place?
Keep in mind: none of this includes upvoting. If we assume that each Thread gets upvoted (on average) by at least 1 user - and typically, many Threads get 5+ upvotes and some get 0, so it averages out - that's another 500k transactions per day on top of the 500k transactions from Threads posts themselves.
1M Transactions per day added to the Hive Blockchain.
Why Would Anyone Buy Hive?
I saw a cool Tweet and then wrote a post earlier this week about "Why Would Anyone Buy Hive?".
My answer: nobody will buy Hive. Applications will buy Hive. Applications who are posting large-scale amounts of transactions per day will need Resource Credits for their users. We'll need to develop deep RC pools so that all of our onboarded users can transact on the chain. That means, we'll need loads of Hive.
LeoFinance is already stock-piling HIVE in various places in anticipation of onboarding more users and achieving "1 Million Transactions Per Day".
How Do We Get to 500k Threads Per Day?
The architecture of building Threads has been a massive undertaking. It's required months upon months of hard work to think about, design and develop a backend system that could scale to handle so many transactions posted on the Hive blockchain on a daily basis.
After many iterations, you can now see Threads live on https://leofinance.io/threads. This early alpha stage of the product allows all of us to Microblog on the Hive blockchain for the first time ever.
Next up is the new UI. A few of us have access to the closed alpha and are testing the new UI as it rolls out in stages. The UI is a key piece in the how do we get there phase of 500k threads per day.
Easy to Understand, Easy to Onboard
If a product is easy to understand, then it is easy to use.
If it is easy to use and useful to the potential user, then they get onboarded.
As simple as that though the Hive ecosystem has never been able to solve this equation.
We tried to solve it with the first LeoFinance UI (the one you currently see live on https://leofinance.io) but we still held long-form content as the showcase. This meant that the learning curve was too steep for the average person.
The new UI takes the best of what Hive already has - wallets, long-form content, communities, etc. - and merges it with the best of what Twitter already has - an easy to understand and intuitive User Interface.
The new LeoFinance UI is an identical experience to Twitter but supercharged with the features of the Hive blockchain.
We believe that this is the key missing piece in onboarding thousands of users. We're aiming to get this UI out and then roll out a massive marketing campaign to onboard 5000+ users in 2023.
This is a drop in the bucket in Web2 social media but in Web3 and Hive, this is MASSIVE.
How Can You Help?
When the new UI goes to Open Alpha - or if you get invited to closed alpha in the coming days/weeks - do rapid beta testing and give us as much feedback as you can.
In the meantime use LeoThreads! To get to 500k Threads Per Day, we all need to by hyper active. We can't do it with the current size of our userbase, but we can do a hell of a lot more than 500 threads per day.
Our MAUs are roughly 500 which means that's 1 thread per day per Monthly Active User.
We can totally beat that. So start posting Threads and help us ramp this up.
Pinwheel Effect - How the LEO Token Benefits
A great question and one that I've seen in multiple places. In January, the Monthly LeoAd Report Will Return.
This report will show how Threads have already doubled the daily ad revenue that LeoFinance generates.
With the new UI, this will grow even more. Ad revenue doubled simply by getting 500 threads posted per day. What happens if we get 5,000 threads per day? How about 500k Threads posted per day?
Ad revenue will 10x. 100x. 1000x. It's really insane how much $$ can be generated from ad revenue when you have a highly engaged audience on a social media platform.
Taking the LEO token to the next level is as simple as all of us posting and engaging more on https://leofinance.io/threads (and soon™️) on the Threads standalone UI.
https://images.hive.blog/DQmTXsVnxYGZyRsnSEi4JqHhyzKF6m3Dd1RHT5Nyws5szYf/image.png
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
Twitter: https://twitter.com/FinanceLeo Discord: https://discord.gg/E4jePHe Whitepaper: https://whitepaper.leofinance.io
Our Hive Applications
Join Web3: https://leofinance.io/ Microblog on Hive: https://leofinance.io/threads LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP Hivestats: https://hivestats.io LeoDex: https://leodex.io LeoFi: https://leofi.io BSC HBD (bHBD): https://wleo.io/hbd-bsc/ BSC HIVE (bHIVE): https://wleo.io/hive-bsc/ Earn 50%+ APR on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com PolyCUB (Polygon): https://polycub.com Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io
Posted Using LeoFinance Beta
Return from What Happens if We Capture 0.1% of Tweets Posted Per Day on Hive? to khaleelkazi's Web3 Blog
