Quarter 3 report 2021

Looking back

You can read the first quarterly report at https://peakd.com/luv/@luvshares/summer-report-2021 or the D.buzz buzz that started it all.

The goal of LUVshares remains: to spread love around the Hive blockchain. Since the last quarter's report, approximately 21,500 LUV tokens have been given out. Almost all were given out Hive-user-to-Hive-user by calling the !LUV command. That's person-to-person, each time saying, "Here, have some LUV." That's a lot of LUV being shared.

Numbers

Graph 1

_{LUV shared via the LUVbot.}

Graph 2

_{The circulating supply of LUV. This is the amount of LUV minted. Most tokens are in Hive wallets, except for those in the @LUVshares account which are waiting to be emitted by the LUVbot.}

Some quick hits:

• Graph 1 shows a noticeable drop in emission in September. This was by design for two reasons. First, it was to help secure scarcity. It's my feeling that emission should be steady. LUV was growing, fast, perhaps too fast. Slowing down was healthy. And secondly, the drop was to save Resource Credits. Every !LUV command generates two comments, which use RCs twice. The LUVbot was drawing down too fast and bottomed at only 3%. Some action was taken, changes were made to slow the bot, and the situation is much better now. The usage rate is less than the replenish rate, currently. Some details are here on this matter.
• The LUVstore is here. Yes, you can buy things with LUV (as well as with other Hive-Engine tokens). Currently, it's only NFTs for sale, but maybe in the future...who knows? Take a look and, why not, buy something with LUV?
• During the last quarter, I estimated that 77% of 26,000 LUV tokens had been gifted to others. This quarter, I'd estimate that 99% were shared user-to-user via the LUVbot. At this point, new LUV is only released into the market by Hive users sharing LUV via the LUVbot. This is what was described as the "Proof-of-Love" "mining" algorithm. This is different in that your efforts don't reward you, but your efforts rewards others.
• The LUV market has matured. Twice, the entire buy order list was wiped out by a LUV whale selling large numbers of LUV. Being a small market with limited volume, things get volatile. This is fine...this is the free market in action. What was encouraging and interesting has been watching market forces kick in and do what they do and things got back to a much more stable place. The gif image below shows the market currently.

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Looking forward

Looking to the future, the number one goal is to maintain the ability for Hive users to share LUV via the LUVbot.

I'd encourage the use of the #LUV tag. @LUVshares has been searching that tag, looking for posts to curate.

This week, I was asked about future plans for LUV. It would have been nice to outline a grand scheme of plans and subplans. But, my response was simply that I believe in identifying a goal and then sticking to it. The goal is above. That's the plan for now.

Also, it recently became apparent that some users were abusing things by self-giving. Warnings or notifications were given, a block list was created. In the discussion and thinking, questions arose. Let's have a little hypothetical Q-and-A:

Q: "Is it okay to give to myself using a different username?"
A: "No. That's not what LUV is about. Don't give to yourself, share LUV with others."
Q: "What if the other users are my 'friends'?"
A: "No, not okay."

Q: "Is it okay to play LUV ping-pong?"
A: "What's that?"
Q: "I give LUV to you. You give it to me. Again. And again. And again. And..."
A: "It's okay to give LUV to someone, sure. But, ping-pong? Sounds like LUV farming to me. If you have to ask if it's okay, the answer is probably, 'No, it's not okay.'"

Q: "What if I want to give 5 LUV to someone? Can I call the LUVbot five times in a row?"
A: "That's possible, of course, but not ideal. Here's why. First, the point of LUV is to give someone something that is authentic, real, and has a positive value associated to it. I think giving one LUV, just one, conveys what needs to be conveyed. This is especially true if you include a real, authentic comment as well. Secondly, five LUVbot calls requires two comments each...and that's a lot of Resource Credits burnt."

Q: "But, what if I really, really want to give more LUV?"
A: "Understand, when you're 'giving' LUV using the LUVbot, you are actually not giving it. You are asking the bot to give for you. The LUV is given from the @LUVshares account, to your chosen Hive user, on your behalf. If you really, really want to give more LUV, you are certainly able to go into your Hive-Engine wallet and give your chosen user as much as you'd like."

Summary and final thoughts

LUV continues to grow, including going through growing pains of growing too fast. But, it has been very rewarding to me personally. To create something that others use daily, and something that is positive and elicits responses like the one in the image below makes me smile.

written by @crrdlx

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• Check your wallet or trade LUV at: Hive-Engine or TribalDEX or LeoDEX.
• Visit the LUVstore: LUVstore
• LUVshares Discord: https://discord.gg/K5GvNhcPqR
• LUVshares Telegram: https://t.me/luvshares
• LUVshares creator: @crrdlx

LUV should be shared. Share the LUV.