🤣 New Headliners, LOLZ Farming, Re-thinking LOLZ Pool, Automated Reports, and Mining & Market Updates 🤣

7 months ago (edited)
6 Min Read
1452 Words

Hello friends! It is past time for another LOLZ Project Update. We have been wanting to post this update for a few days, but unfortunately we had some "bugs" show up that caused us to want to wait till we could get things straightened out. Some things are still a bit "wonky" but we decided things are close enough to go ahead and get this update out since we have been a bit quite lately.

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New Headliners

In our last update we noted that we had our first Headliner (defined as holding 512 or more LOLZ tokens). Since then we have had six more achieve Headliner status.

HeadlinerLOLZ Held
@captaincryptic912.6
@servelle588.0
@magicbeans540.7
@playbyhive801.7
@mawit07560.0
@forsakensushi1102.8
@arpuch523.1

Help me congratulate our new headliners! Thank you for your support of the LOLZ Project.

LOLZ Farming

Three weeks ago we launched LOLZ Defi, a new way to farm LOLZ tokens by delegating your Hive tokens to the LOLZ curation bots.

We have been wanting to share the returns we are generating because they are darn good, but unfortunately, one of the bugs we mentioned above impacted our curation bots for tribes where the !LOLZ command isn't getting used as much (SportsTalk, SplinterTalk, for example).

It was an easy fix, but since it takes 7 days for the curation rewards to get back to normal, the APRs for some of the tribes are still low compared to what we are able to achieve. So we will wait a few more days to start posting our APRs once things get back to normal, by which point we expect to have our automated LOLZ Farming and dividend reports up and running (more on that below).

As to the impact on our LOLZ farmers, the impacted tokens did not have large delegations coming in. Nonetheless, we will send some "make-up" LOLZ to the folks who have been delegating to us for those tokens that were affected. Thanks for your your understanding.

LOLZ Dividends

As we mentioned in our LOLZ Defi introduction post along with LOLZ farming, we also started paying a portion of the curation earnings to our LOLZ Headliners. Currently, 40% of all token curation rewards are added to the LOLZ Pool (@lolz.pool). Weekly (on Sundays) 1% of the pool are paid out as dividends to the LOLZ Headliners.

While everything is working as intended, we have been re-thinking our approach. First, we realized that we should probably change how we are making our payouts. Right now, we payout dividends for every token on Sundays. As the number of Headliners increase and the number of tokens increases (more on that below) we will need to put a pretty significant amount of HP towards the bot just to cover the RC of transferring all those tokens.

To illustrate our concern, as of now we have 7 Headliners and 14 tokens which means we need to make 7x14 = 98 token transfers which is manageable. However, if that number were to grow to 1000 Headliners (which we hope and expect it will some day) the number of transfers would blow up to 14000 token transfers! That would take a lot of HP to process.

To help diffuse that potential issue, we plan to change the dividend pay outs so that dividends for 2 or 3 tokens are paid out each day. That way, dividends for all tokens will still be paid out over the course of a week, but the number of transfers per day are cut by a factor of 7. This will allow us to regenerate resource credits every day and reduce the need to add HP to the pool.

The other thing we are rethinking is the 1% pay out per week. Our idea was that by paying out just 1% of the pool each week, it would grow over time to the point the dividends would add significant value to holders of LOLZ tokens. After thinking about it more, we realized this approach was not very efficient.

Right now the payouts are much less than the curation rewards coming in so the pool is growing. But as the pool grows, the dividends paid out will increase. At some point the pool will have grown to the point that the dividends paid out will equal the curation rewards coming in. We did a bit of math and came up with this chart.

image.png

Never mind the math, but what it is telling us is the way LOLZ Dividends are paid out currently, it would take over 400 weeks before the amount of dividends being paid out were equal to the amount of dividends coming in. At which point the pool would have a bunch of tokens sitting around doing nothing.

In the meantime the dividend payouts are not adding much value to the LOLZ token. For the payouts we just made today, we estimated an APR of around 6%. While that is much better than you can get at a bank, it is no where near what we had expected.

So what is the solution?

We have decided to start paying out 100% of pool rewards every week. What this will do is immediately increase the dividend rewards for holding by several fold. That in turn will make it much more desirable to hold, farm, and buy LOLZ tokens, and that should ultimately increase the market for LOLZ tokens.

Automated Reports

We have been working on creating some automated reports for the LOLZ project. Soon we will be creating a post per day that shows the statistics of our LOLZ Curation (stakes and curation earnings), Farming (delegations in and APRs for each token), and Dividends paid.

These reports will have several purposes. First and foremost, the APRs and dividend payouts will be useful to our farmers and holders.

Second, these reports will help promote LOLZ Defi in the tribes we are curating in. We are pretty proud of what we have built but other than our introduction post we haven't started promoting it (partly because we wanted to get our APRs figured out, partly because life gets in the way sometimes.) We are pretty sure once people see the farming and dividend returns we are seeing we will get a lot more interest in LOLZ Defi.

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As always, we want to be good neighbors so to avoid spamming the tribes, we will rotate the tags we use in each post so that no tribes gets a report more than once per week. To avoid spamming our followers we will have the reports come from @lolzbot rather than this account.

Finally, the HBD earnings from the reports will be used to pay server costs with the rest being used to buy and burn LOLZ. Any token earnings will be staked to increase curation earnings.

LOLZ Free For All

What would an LOLZ Update be with out a LOLZ Free For All? You can earn up to 3 LOLZ by taking these three easy steps:

  • Drop a comment - 1 LOLZ
  • Tag a friend - 1 LOLZ
  • Reblog this post (and tell us in the comments) - 1 LOLZ.

About the LOLZ Project

LOLZ Project is an engagement project with the mission of spreading laughter and joy on the Hive blockchain. Hive users can use the !LOL or !LOLZ command in comments to share a clean joke and tip the author an $LOLZ token.

Help Support the LOLZ Project

Here are some easy ways you can help support the LOLZ Project -

  • Use the !LOL and !LOLZ command often to tip fellow Hive authors.
  • Upvote and re-Hive our posts. All rewards will be used to help cover server costs and increase curation value.
  • Delegate Hive tokens and earn LOLZ Farming rewards.
  • Follow @lolztoken and participate in our airdrops, contests, and giveaways.

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Quite an interesting update for the project! @cpol a chance for some free LOLZ, if you’re interested!

Reblogged too!

Thanks, man! I can !LOLZ now, thanks to you!!!!
Edit: Uhmm nope... it seems they change it... Now I need 6 more!!! 😭

Well here is one! !LOLZ

Thank you so much!!!!

An upvote like that is worth at least one more !LOLZ !gif make it rain !hivebits for you too.

Hivebits blends Hive's blockchain and Bitcoin's ethos. Your effort = your reward. Mine HBIT simply with ! hivebits (no space), one-per-day. Success! You just mined .9 HBIT and the user you replied to received .1 HBIT on your behalf. You can receive 100% of the HBIT by replying to one of your own posts or comments. Or, support Hivebits by using the official HBIT mine | your wallet | market | tools | connect | <><

I was going to tell a joke about hominy.
But it was too corny.

Credit: reddit
@cpol, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (6/10)

Awww! Thank you so much!!! I'm closer to my goal!!!! Thank you, thank you!

!hivebits

If at first you don't succeed...
... sky diving is not for you!

Credit: reddit
@cpol, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (5/10)

Knock knock...
ERROR: Joke failed.

@cpol, You need more $LOLZ to use this command. The minimum requirement is 16.0 LOLZ.
You can get more $LOLZ on HE.

Haha aw, but just a few more needed at least! :D

I'm a little bit futher from half of the road!!!!

Nice! We’ll just keep accumulating! My new lofty goal is 512 to get a piece of that dividend action, I’m just lacking over 400 LOL though haha!

Thank you, man! I've been trying to collect LOLZ, but it's quite difficult!

Thanks! We have been quiet but busy. !DROPLOLZ 3

What is better than a kick in the teeth?
An LOLZ Airdrop!

@technocrypton - You received a 3.0 $LOLZ airdrop.

@dudeontheweb LOLZ seems to be doing quite well. Didn't realize they also had a curation service.

Reblogged!

Yep, and farming, and dividends, and heading into NFTs soon. !DROPLOLZ 3

What is better than a kick in the teeth?
An LOLZ Airdrop!

@kotenoke - You received a 3.0 $LOLZ airdrop.

It's nice to see how you actively and competently develop the project...I think you will be a great success in the future)
!LOLZ

Well we don't know about competency. !LOLZ !DROP 2

What's the most modern plant?
A courant bush.

Credit: reddit
@alekst7, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (4/10)

I haven't sold a single copy of my autobiography.
Sigh. That's the story of my life.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @alekst7
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/1)

Reblogged and @memehive is working toward achieving Headliner status soon.

Thanks! Would love to maybe work a swap with you .. some !LOLZ for some MEME. We have some NFT ideas we want to implement and would love to do it on Hiveme.me, and would like to increase our meme stake some more.

Right now an LOLZ is going for 0.04 (sell), and MEME is going at 0.00018 (sell), so basically 225 MEME per LOLZ. I'd like to swap at least for 10000 MEME (for 50 LOLZ), and would be willing to go to 100,000 (for 500 LOLZ) if you are willing. Maybe @rentmoney might be interested too. Let me know or better yet, if that sounds good to you send me the MEME and I will send you the LOLZ. And thanks for the delegation you have already given us!

!DROPLOLZ 2

@rentmoney Im a big fan of @lolztoken Without a doubt far and above best tip token on hive after considering these new curation and rewards for top holders!

!LOLZ

!PIZZA

!LUV

Look at you using all 10 of your !LOLZ calls! Good for you.

My friend Phillip had his lip removed last week
now we just call him Phil.

Credit: reddit
@forsakensushi, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (8/10)

OH NO!
You are out of jokes for the day!

@forsakensushi you can call @lolzbot a maximum of 10 times per day.
Level up by buying more $LOLZ so you can share more jokes per day!

!DROPLOLZ 3

What is better than a kick in the teeth?
An LOLZ Airdrop!

@forsakensushi - You received a 3.0 $LOLZ airdrop.

What is in the middle of nowhere?
The letter H

Credit: reddit
@memehive, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (4/10)

What is better than a kick in the teeth?
An LOLZ Airdrop!

@memehive - You received a 2.0 $LOLZ airdrop.

Hey, I also wanted to check with you on an image source. pixabay. Here is their licence info. https://pixabay.com/service/license/ Can these images be used as material for making NFTs?

Seems fine to me to use pixabay.com images to make meme NFTs. It states the images can be used for commercial use (selling NFTs of adapted images for MEME tokens). Once you alter the image to make a meme NFT it's no longer an exact copy. The hiveme.me NFT marketplace is neither a platform for stock images or wallpaper images. I don't see any conflict.

Thanks for asking. In a little while after I respond to a few other messages I will be asking you (@lolztoken) a similar question from my @holovision account about use of your LOLZ logo.

Not to spam you, but I wanted to point out that @magicbeans is one of our accounts and that is the account I would want to create my NFTs with. I just updated his profile (lightly...) and applied to be whitelisted.

No problem. I just verified @magicbeans.

Great news thanks,
reblogged
!ALIVE
!PIZZA
!LOLZ
!Gif lol

@lolztoken! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @chapelle. (5/10)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

What do you call a house made of feathers?
A lite house.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @chapelle
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (2/4)

Thanks! !DROPLOZ 2

Very good project !
reblogged
!LOLZ
!Gif good project

My friend Phillip had his lip removed last week
now we just call him Phil.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @serhotest
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (3/4)

Thanks for your support! !DROPLOZ 2

Delegate a few sports, to see how it works.
I tag @flaxz to see if he makes you a good Alive delegation.

We got a bit of ALIVE already, but the more the merrier.

Also, Sports was one of the tribes that our bug hit the most, and earnings are going to be wimpy for a few days.

Also we didn't have much of a sports stake to start with so if we get a big increases in delegations in the APRs will look pretty wimpy until the new delegations start making earnings too.

!DROPLOLZ 2

What is better than a kick in the teeth?
An LOLZ Airdrop!

@yeckingo1 - You received a 2.0 $LOLZ airdrop.

We have one from @aliveprojects, but I might put in more.

!ALIVE

@yeckingo1! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz. (15/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

I am proud of being a headliner 😀
Thanks for your great job !
@invest-time (je te tag, ça peut t'intéresser)
!LOLZ
reblogged

!ALIVE

N'hésite pas a passer au tirage au sort présenter dans le dernier post de @invest-time

@servelle! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @gestion.alive. (3/20)

The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.

I'm reading a book called Anti-climax.
The first part was good.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @servelle
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (6/10)

thx you

We are so happy to have you too! Did you get your dividends today? !DROPLOLZ 3

What is better than a kick in the teeth?
An LOLZ Airdrop!

@servelle - You received a 3.0 $LOLZ airdrop.

!LOLZ is fast becoming one of my favorite tokens. All the best! I think @lturner was laugh at these corny jokes, for sure!

Why did two Ralph Lauren employees get into a fight?
They were Polo opposites.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @ironshield
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/2)

Thanks! !DROPLOLZ 2

What is better than a kick in the teeth?
An LOLZ Airdrop!

@ironshield - You received a 2.0 $LOLZ airdrop.

Sorry @kotenoke your tagged

!LOLZ !DROPLOLZ 2 !gif say what

Why did the farmer dress his pig in an apron?
Pretty soon he would be bacon.

Credit: reddit
@failingforwards, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (6/10)

What is better than a kick in the teeth?
An LOLZ Airdrop!

@failingforwards - You received a 2.0 $LOLZ airdrop.

I wish you luck! Reblogged and @brisby likes a good laugh.

Thanks for the reblog but this is an old post, but I will still give you an !LOLZ for the effort. Thanks!

Why do you never see elephants hiding in trees?
Because they are so good at it.

Credit: reddit
@omra-sky, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (3/10)

Last night I dreamed of a beautiful walk on a sandy beach.

At least that explains the footprints I found in the cat litter box this morning. 😜

Became a headliner today!

!PGM
!LOLZ

and !LOLZ

I wasn’t originally going to get a brain transplant
but then I changed my mind.

Credit: marshmellowman
@imno, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/10)

Sent 0.1 PGM tokens to @imno, @lolztoken

remaining commands 8

Buy and stake 10 PGM token to send 0.1 PGM per day,
100 PGM token to send 0.1 PGM three times per day
500 to send and receive 0.1 PGM five times per day
1000 to send and receive 0.1 PGM ten times per day

image.png
Discord image.png

Support the curation account with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Why are brain surgeons so good at persuasion?
They can really get inside your head.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @imno
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (3/10)

Awesome! Congrats!

Reblogged! I never knew that LOLZ has all these stuff going on behind the project.
I understand why @hollowknightgod always using the LOL command
!LOLZ

!DROPLOLZ 2

What is better than a kick in the teeth?
An LOLZ Airdrop!

@cantfoldaces - You received a 2.0 $LOLZ airdrop.

A dated a ghoul once but I had to break up with her.
She had a mean spirit

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @cantfoldaces
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/1)

reblogged, great program info.. i wanted to know more and now do, thanks !1UP !PIZZA !PGM !LOLZ !Gif lol

Sent 0.1 PGM tokens to @dynamicrypto, @lolztoken

remaining commands 1

Buy and stake 10 PGM token to send 0.1 PGM per day,
100 PGM token to send 0.1 PGM three times per day
500 to send and receive 0.1 PGM five times per day
1000 to send and receive 0.1 PGM ten times per day

image.png
Discord image.png

Support the curation account with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Goodfellas!!!!! <3

What do sea monsters eat for lunch?
Fish and ships.

Credit: reddit
@lolztoken, I sent you an $LOLZ on behalf of @dynamicrypto
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/2)

Thanks! !DROPLOZ 3

!PIZZA
untitled.gif

Yummy... !LOLZ

What do you call a fish wearing a bowtie?
Sofishticated.

Credit: reddit
@cryptoniusrex, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (21/10)

Appreciate the transparency on the bugs.
I will tag my pal @kotenote who could use a good laugh.
And I will reblog this as well.
(yay 3 LOL coming my way!)

Let's spread laughter to the world

!LOLZ you get an extra for being funny. !DROPLOLZ 3

My wife accused me of being immature.
I told her to get out of my fort.

Credit: lofone
@indiebandguru, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (20/10)

What is better than a kick in the teeth?
An LOLZ Airdrop!

@indiebandguru - You received a 3.0 $LOLZ airdrop.

Good Project :)

@tfranzini

Oops.. and here is another for the tag. !LOLZ

Why did everyone enjoy the volcano?
It was just so lava-able.

Credit: belhaven14
@lobaobh, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (19/10)

Thanks! !LOLZ

I was once accused of having a foot fetish.
But that’s a lie. I much prefer the Metric system.

Credit: reddit
@lobaobh, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (18/10)

FREE LOLZ?

Reblogged and tagging @michupa to know about this great project!

and 3 !LOLZ

What do you call a marine mammal that should do something?
An oughtter.

Credit: reddit
@luizeba, I sent you an $LOLZ on behalf of @lolztoken
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (8/10)