So far the introduction of boosting and tipping KARMA has been a great success! Over 8,382,617 KARMA has been spent by the community to boost their content. This has created a totally fluid and democratic content promotion system. It’s your tokens, and your choice on what message you want to share with the world.
Boosting has become a great equalizer for new users to the platform. It gives a way for others to discover their content.
Unfortunately the largest social media platforms that many of us use, are actively picking winners and losers. This is unacceptable and something that KARMA will continue to have no tolerance for.
Often times, those who are spending KARMA to boost their content are also receiving KARMA from the likes and tips that they receive. This allows them to use the KARMA earned to further extend their promotions. This is a totally unique aspect of the BOOST system within KARMA. On platforms like Facebook or Instagram, you spend fiat to get X # of impressions and generally that’s it. There’s no shared incentive between promoter and viewer like there is within KARMA.
Why does Ad Revenue get burned?
Every day, new KARMA is created to guarantee that the community will earn rewards. KARMA spent on boosting content will then be burned/destroyed. This is done to offset the KARMA created from inflation, with the intention of making KARMA’s supply deflationary.
Imagine an economic system where the community has a guarantee that rewards are coming, while the total supply is shrinking as opposed to just growing. Combine a stable or shrinking supply with a token that has several use cases and that’s when the magic starts to happen.
When and where will the burn happen?
Tokens flow when boosted to the EOS Account karmapromote.
Starting this week promoted KARMA tokens will be burned once a week. This may change to happen in real time as opposed to once per week.
The # of burned tokens will be tracked on the KARMA Website.
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