Liker Land Writing NFT Free Mint, NFT Book Store Advancement, and LikeCoin Tokenomics – LikeCoin Community Call Minutes #202310

Table of Contents

Liker Land Writing NFT Free Mint, NFT Book Store Advancement, and LikeCoin Tokenomics – LikeCoin Community Call Minutes #202310

Table of Contents

Mid-Autumn Festival Commemorative Writing NFT

A commemorative Writing NFT for the Mid-Autumn Festival has been created by the team, symbolizing the culmination of the Writing NFT publishing experiment that saw the release of six Book NFTs this year. This NFT will be available for free minting until November 30, 2023.

Mid-Autumn Festival Commemorative Writing NFT

In celebration of the Mid-Autumn Festival, Liker Land invites creators to participate in a creative writing contest. Share your thoughts and associations related to Writing NFTs, weave creative stories, and narrate memorable moments and people. Participants have the opportunity to share a prize pool of 100,000 LIKE tokens.

Liker Land Satistics

Liker Land Satistics

This month, statistics were shared. The ISCN number was lower than the previous month because the bug of double counting had been fixed.

Classic Books on Liker Land NFT Book Store

Edmond shared the recent focus of the past month, which centers around an exciting new initiative – the development of the NFT Book Store service. While a new layout for this service is still in the works, the team is diligently working towards its completion, with hopes of launching it in the coming weeks.

During the past week, they made an attempt to upload ten classic books, consisting of five in Chinese and five in English. It’s important to note that these classic books are in the public domain. However, the team has undertaken the task of reimagining them by creating new covers and transforming them into NFTs. This effort serves as a practical demonstration of the business model for selling books on the blockchain. In addition to this, they have also been reaching out to publishers, with interactions involving approximately 20 publishers, primarily based in Hong Kong and Taiwan. The objective is to persuade these publishers to list their books on the platform and offer them as NFT books.

The commitment to expanding the book collection remains strong, and the team will continue to add new titles to the virtual bookshelf. Furthermore, a recent noteworthy addition to the collection was the digital copy of the《庭刊》”Hong Kong Court News” newspaper. This addition holds significant value from both the perspective of content distribution and content preservation. Edmond mentioned that another new book will be added to the platform next week, encouraging everyone to stay engaged and updated.

Liker Land is actively positioning itself as a digital bookstore, and they are dedicated to exploring the potential of what a digital bookstore could become in the future. Edmond emphasized that numerous experiments are in progress, including considerations like combining physical books with digital book packages and enhancing readability and compatibility with e-readers. These experiments reflect Liker Land’s commitment to innovation and redefining the bookstore experience in the digital era. Edmond invited those interested in this area, especially fellow readers, to visit the bookstore, explore its offerings, and provide valuable feedback. This, he stated, represents a major highlight for Liker Land’s ongoing development.

Changes on base currency and Dynamic Pricing

Edmond provided an update regarding an ongoing discussion and an adjustment on Liker Land. Specifically, the base currency for transactions has been set to USD. Over the past week, they have received a significant amount of feedback on this change, and it’s anticipated that communication around this topic will continue.

To clarify, readers who visit Liker Land can still use LIKE tokens for their purchases. However, they now also have the option to use a credit card, and the default display currency for transactions is USD. This change was primarily driven by the target audience and aims to enhance the user experience, especially for layman users who may find it simpler to understand their purchases and conversion rates in USD.

In addition to the adjustment in currency, there have been updates made to the dynamic pricing of Writing NFTs in article format. Edmond mentioned that readers interested in learning more or providing feedback can refer to the latest Liker Land newsletter that discuss these changes related to USD and dynamic pricing on LIKE.

Discussion on Marketing SubDAO and Twitter Account Management

Phoebe addressed the status of the Marketing SubDAO, acknowledging that she hadn’t been able to allocate significant efforts towards reaching out to service providers or partners. The Marketing SubDAO was established last year with her and Cheung To, but unfortunately, it hasn’t made substantial progress in marketing LikeCoin, as originally envisioned. Despite their attempts, the performance of the SubDAO in this regard has not been as effective as expected. Consequently, they concluded their engagement with the service provider a few months ago.

Phoebe highlighted a significant aspect that requires attention, which is the management of the LikeCoin Twitter account. During the community call, she raised the possibility of community members volunteering to assist in maintaining the Twitter account and enhancing LikeCoin’s presence on the platform. Phoebe encouraged anyone interested in contributing to this effort to reach out to the SubDAO channel for further discussions. She mentioned the potential to leverage the expertise within the community for this purpose and emphasized the importance of raising awareness about Marketing SubDAO operations and the future of Twitter operations.

LikeCoin tokenomics and Osmosis Pools discussion

kin provided several updates related to trading activities on Osmosis, particularly in pools 553, 555, and 1132. These updates are essential for all users of Osmosis, highlighted ongoing discussions regarding LikeCoin’s tokonomics, and proposed actions related to Osmosis LPs to address the changing dynamics and incentives.

Regarding LikeCoin’s tokonomics, there have been extensive discussions over the past few months, primarily focusing on gas fees and Osmosis LP. kin referred to Leafwind and Mikasa for details on the gas fee discussions and shared a link to a spreadsheet where the community can review and provide feedback.

Then the primary topic revolved around Osmosis LPs. Unlike traditional trading pairs, Osmosis doesn’t require specific pairs for trading. Instead, as long as a route exists between two assets, they can be traded. For example, you can trade LIKE for AKT as long as there’s a route through OSMO, albeit with a service fee. Currently, there are three active pools, with the LIKE/OSMO pool being notable. kin explained that the community had incentivized this pool, but due to a lack of external incentives, there’s been significant selling pressure. The Osmosis Community is considering reducing external incentives, similar to Uniswap in its early days.

kin also mentioned the possibility of creating a LIKE and USDC pool, reducing reliance on OSMO and ATOM. This would help stabilize LIKE’s price, and kin suggested that community members willing to contribute liquidity could raise a proposal to fund the creation of this pool, which requires 1,000 OSMO as a service charge. Additionally, kin recommended that users who have assets in the LIKE and OSMO pool consider withdrawing them due to the decreasing incentives. This also applies to the ATOM and LIKE pool. The third suggestion is for someone to set up a LIKE/USDC pool, and those willing to contribute liquidity can do so, with a potential service charge of 0.3% for liquidity providers.

Rick sought clarification on the community’s preference regarding liquidity provision. Specifically, he asked if the consensus was to focus on providing liquidity to the LIKE vs. native USDC pool and possibly deprecate other pools presented in the slide.

In response, kin expressed agreement with this approach. lin explained that the primary reason for incentivizing the LIKE and OSMO or LIKE and ATOM pools was the assumption that Osmosis would provide incentives in the form of OSMO tokens. Without this incentive, there would be little motivation to participate in the LIKE/OSMO LP. kin drew a parallel with the Ethereum ecosystem, where it’s uncommon for users to create pools involving a platform token like UNI unless there are clear incentives. Typically, pools are established against stablecoins like ETH or USDT. The discussion revolved around focusing on the LIKE V.S. native USDC pool due to its potential for incentives, while other pools might not offer the same motivation for liquidity providers.

Phoebe shared insights, highlighting some personal learnings from engaging with the Osmosis and Cosmos communities. She mentioned their previous attempts to propose incentive matches, which were unsuccessful. Given this experience, Phoebe suggested that it might be more prudent to allocate resources to a more stable LP for LIKE, benefiting the entire community. She emphasized the importance of understanding the dynamics and strategies required to become an active part of these communities. Phoebe also hinted at the possibility of sharing updates related to native USDC on Cosmos in the future.

Creators Fund Reform

Edmond raised a point regarding the distribution of the fund that is set to run out in approximately two weeks. He expressed that the current method of fund distribution, which involves clapping on the LikeCoin button, seems outdated. He suggested exploring new and more effective ways to utilize the fund, especially given the shift in product focus towards Writing NFTs over the past year. Edmond encouraged interested participants to continue the discussion on Discord, recognizing that it’s a topic that warrants further exploration and input from the community.

Liker Land integration on Keplr mobile

Phoebe announced an important update about Liker Land’s availability on Keplr mobile. Keplr has integrated Liker Land into its mobile app, making it more convenient for users to access Liker Land from their mobile devices. This integration allows users to find Liker Land in the DApp section of Keplr’s mobile app, enhancing the mobile experience on Liker Land. Once users log into Keplr, they can seamlessly browse Liker Land and perform actions within the app directly through Keplr mobile.

WordCamp Taiwan presences

Representatives from Taiwan’s Liker Land team will be participating in the WordCamp Taiwan conference on October 14th. Phoebe extended an invitation to anyone in Taiwan who wishes to meet the Liker Land team during the offline event.