Steemish is a token built using the ERC-20 Protocol and is Traded Under The Symbol Stish.
Only 10,100,000 Stish Have Been Created. Stish is one of those unique first of it’s kind tokens thinking way outside the box when it comes to crypot currency. Never before has an Ethereum token been used to tokenize a social media website. Though other blockchains have attempted to do this such as Steemit, SteemThat.com set the stage for correcting many of their short comings while investing heavily into Steem.
There are stark differences between the two platform but a jolly Eric Binkley, Founder of SteemThat.com and Stish, shares that the SteemThatians are growing are again doing things never before done before in blockchain technology. The SteemThat.com platform is placing 50% of all revenue generated from the sale of Stish into Escrow into Steem… His reasoning behind the move is extremely smart on two fronts. First the escrow insulates participants in the event. The real creative idea is that it allows minnows to build their own whale pool without giving up their steem power or having to donate SDB or Steem. This whale pool will give members of SteemThat.com that use the auto share feature a way to have at least one post per day supported on Steemit.com.
For those of you that may not know about Steemit let me share with you some pretty cool things. Users who primarily make up bloggers from around the world write articles and almost in a Reddit style upvote each others posts. The thing that people find hard to believe is that a pool of CryptoCurrency that has been set aside each year, rewards the writers of the posts based off of those upvotes. Something that some find strange with Steemit is that the more Steem you own the more powerful your upvote is. So when someone with a lot of Steem Power upvotes your post you get more from the rewards pool! This is awesome but can also be troubling for minnows or new people on Steemit that write high quality posts but maybe do not have the ability to gain the prominent followers required to earn a fair rate for those excellent posts.
Meet SteemThat.com a community devoted to “Helping Steemians Grow!” This community not only encourages members to share their Steemit post links in the social portal but also in groups and among friends. Now that minnows have an official place to go and find support the barrier to entry into the world of Steem is significantly reduced. Many people new to Steemit get frustrated but those luck few find SteemThat and find welcoming words of encouragement.
Why is the formation of a whale pool by minnows so complex?
Several people have tried different methods of creating a whale pool but most have fallen short. There are extreme challenges to creating the whale pool. One is running the software or apps that operate the whale accounts. SteemThat.com already has almost 1 year of experience do this with solid success.
Another challenge is that the minnows had nothing to show for their donations. Most whale pools attempted to form based on donations and if those donating ticked someone off on Discord they were done, kicked out and blacklisted. Many minnows that did invest felt lost and confused by all of the un-necessary rules and red tape.
Often these minnows simply lost their donations with no minnow support as promised. SteemThat.com puts minnows at ease because minnows actually receive blockchain tokens called Stish when they fund the Whale Pool. SteemThat.com invests 50% of all revenue from the Sale Of Stish into powering up the whale pool accounts. The additional revenue is being used to further develop the community, marketing and day to day operations and future developments. The advisors help to oversee that things are done in a business like manner and have no fear in calling out bad ideas or encouraging more transparency.
The Stish Token Event Exceeds Transparency Expectations And Sets The Stage For A New Way To Handle ICO of ERC-20 Tokens.
Stish has done something again that no other cryptocurrency has ever tried. Most crypto currencies are super greedy and simply are looking to make the most amount of money in the least amount of time. Often these tokens use schemes to generate hype and sometimes never even finish anything close to their projected plans. We call that overselling and under delivering in the real world. With all of the crazy risk surrounding concept ICO’s SteemThat once again leads by example and lessens fears by completing multiple phases of development before even thinking about launching their token event!
“Building a small community and allowing them to test things and debug things before an official all out launch made sense to us.”, remarked one advisor. “Why risk so many people’s money without even knowing if you can build what you are talking about? Why risk all of their money without putting any of your own into the project?”
You can easily tell they have thousands of man hours and quite large chunksof money invested into the SteemThat.com project. The passion for helping others achieve their dreams of success is real. The high level performance of the Steemish Teamish has blown many people away seeing massive development growth in a very short period of time. Organizing some of the brightest minds from within and outside of the industry was crucial to the advancement of the project. People from all over the world now call SteemThat.com home and once they finish some more development they will continue to see demand for services expand exponentially. Many of these services will require Stish to be paid adding even more value to the fledgling token.
The uniqueness of their token event coming soon in 2018 is what has drawn the most attention. Most token ICO’s sell tokens, keep buyers currency locked up for months before issuing the purchased tokens and often times simply never issue them or send them to accounts that cant receive them. The marketing of these ICO’s might draw millions in revenue but often to the detriment of the smaller investors.
The founder of SteemThat.com having some experience and knowledge in real estate remembered a sales approach from a planned community development he once seen. The development required funding and had one thing to sell and that was land. The team planned to list all of the property for sale but each phase of development that someone purchased in had a different price point. Those who purchased land early who had the most risk received the greatest discounts. Those that purchased as the development went along would pay a little more as they have less and less risk. Ultimately the average of all of the sales would determine the eventual sells price of the land on the markets if land was to be sold with out improvements as to not devalue existing land owners purchases.
Stish almost copies this model directly by listing all 7 million Steemish Tokens for sale at one time but with various price points. So as the first allocations of Stish sale out at the lower price all others purchasers will move to the next phase of pricing at which time people can see more development of the website and community.
Seeing this development lessens risk even further and causes the next phase to require a higher price. With all prices already established and a solid road map and whitepaper Stish expects to take no less than 3 months to fully sell the tokens. People might need to sell and trade during the event but Stish asks people to not start exchanging until the final sales are completed unless absolutely necessary.
The huge advantages to this style of token event are super obvious.
- People that participate get their Stish as soon as the Ethereum blockchain can process the orders.
- Buyers of Stish do not have their purchasing currency held hostage for months or years waiting for their Stish.
- People can purchase the Stish at their comfort zone of development and according to their own financial risk tolerance levels.
- With prices for each phase already made public people can hopefully base future sell trends at the close of the event.
- Since Stish will be used to purchase services this will continually limit supplies and create more and more demand for the currency.
- With a platform already in operation one can see a clear destination and find solace in the future developments.
- Selling on one Exchange with almost zero fees helps as members must have a compatible wallet to connect and make purchases of Stish. Using this approach will help reduce purchases lost due to accidental use of an unapproved Ethereum wallet such as one from an exchange like coinbase. These wallet addresses are created to send or receive but often not valid for both.