PLEASE OPEN AND READ - The Great Reset - Copy Paste Version from BBS Network
OK - Going to try Johnny's suggestion of copy paste to see if I can pin this update.
As mentioned in previous announcements, Phases 2 & 3 introduce a full rework of terminology used across BBS as well as a separation of the UI for whitelisted and non-whitelisted members of a board.
Version 4.0.1 Updates:
- Terminology redesign
- Purchase - Promote redesign part 1
- Impression & distribution update
- UI separation
- Notification removed from daily visit bonus (bonus still applies)
- Base ($5) CPM removed from non-approved boards
Terminology Redesign
Phase 2 of the Great Reset is included with this update, and with it comes a redesign of the terminology used across BBS Network. Many of the terms and phrases used in the BBS platform will be changed, including:
- Purchasing posts has been changed to promoting posts
- Community currency has been changed to Reputation
- “Whitelisted” has become “Partnered”
Other small changes have been made throughout the texts to reflect these changes.
Purchase - Promote Redesign Part 1
Along with ‘Purchasing’ a post becoming ‘Promoting’ a post, there are some other changes being made to this mechanic.
- Promoter now receives 1 Reputation for each registered view the post receives
- Reputation is staked in order to promote posts
- Promoters only receive Reputation for promoting a post, cashable revenue is not earned.
- Bonus removed for promoting (previously purchasing) a post
Promote posts in order to increase your Reputation on a board, but promote wisely!
Promoted posts will give 1 Reputation per registered view the post receives. This means that if you stake 100 Reputation on a post, it should receive 100 registered views in order to earn back the staked amount.
For more information check out the updated FAQ post:
Impression & Distribution Update
With these redesigns, changes to the impression and distribution mechanics are included:
- Promoting a post (previously purchasing) does not generate cashable revenue
- Partnered (previously whitelisted) publishers receive 100% of CPM from impressions
- Board owners will receive ad revenue from posts published by non-partnered members
- Board owner 20% fee removed
- Cashout fee reduced to 10%
- Community Currency no longer needed to cash out an equivalent cashable amount
These changes give whitelisted publishers the full share of the revenue they generate for a board, and gives board owners more influence over how the board’s revenue is distributed properly amongst members. Owners are incentivized to Partner the members that are generating value for the board to keep their interest and activity.
UI Separation for Partnered Members
Phase 3 included in this update focuses around separating the monetary UI elements of BBS Network to show for only Partnered members including:
- Revenue information for the board
- Advertising Tab
- Board cashier information
- BBS tokens and Cash out & Deposit button moved to Profile
Please note that any cashable amount already earned for a board is NOT removed if not partnered, but is not shown until partnered.
Base CPM for Pending Boards Removed
The base $5 CPM for boards not approved for Engagement Mining has been removed. Previously ad campaigns on boards would show at $5 CPM even though no campaigns had been launched yet on the board.
This base CPM has been removed from boards to better align with the focus of these updates to shift the focus away from the monetary incentive of BBS Network. Instead, the incentive behind joining a new board will be from a place of genuine interest in its topic.
The requirements to apply for Engagement Mining were changed along with Version 4.0.0 to allow upcoming boards to more easily join the Engagement Mining program with only 10 posts per day by unique users being required.
Boards that are not yet approved still retain their full share (90%) of revenue generated from advertisement campaigns ran on their board.
With 4.0.1 the Great Reset is almost complete. This update will be the biggest visual change of these phases, and many UI elements were changed, if there are any inconsistencies in texts or the UI found please report them here on METABBS.In the coming weeks, Phase 4 will be released which will include Part 2 of the Promotion redesign and the Reputation system, with Phase 5 followed after it for inclusion of top quality commenters into the revenue distribution.
While these changes are considerable, the goal is to ensure that the mechanics and terminology aligns with BBS Network’s vision to create an open platform to properly promote and reward quality contributions, and to prepare BBS for real adoption.
There are many great things ahead for BBS Network, this is only the beginning!
