What is POOR?

The poormantoken was created to address an early need in the EOS ecosystem. As RAM prices skyrocketed during early speculation airdrops required as much as $250,000 USD to be completed. Many airdrops also see very low user participation making these high costs have very little returns.

To allow DAPPs to provide tokens to interested parties without incurring such a high cost the airgrab was born. Interested parties could airgrab in advance, paying the 240 bytes of RAM (a trivial cost) required to store the token balance and essentially distribute the cost of the airdrop amongst those who truly believe in a project.

Originally poormantoken was simply a proof of concept to test the viability. To date we are aware of RIDL, WIZZ, TRYBE, and ATD using the airgrab process. Now that the concept has matured, what is next for POOR?

Who runs EOS

You might think Block Producers run the EOS Mainnet… but it’s actually you! Your staked EOS and your votes (either directly or through a well managed PROXY) decide which Block Producers actively produce blocks for the network, and which Block Producers should be rewarded for contributing to the EOS Community.

While many may say altruism and belief in EOS should be enough to encourage you to do this… the reality is there is an opportunity cost to staking and voting. How can we reward and say thank you for helping the EOS community, similar to how Block Producers are rewarded?

Say thank you with POOR

Now that POOR has completed it’s final catchup drop on September 1st a new airdropping model will be used. We want to reward the community who stake and vote for 25+ producers (either directly or through a proxy).

We have developed snapshot tools that allow us to find this information and will enable us to do monthly drops to reward the community.

The criteria to receive these drops would be:

  1. Have a POOR balance (either from an existing DROP or AIRGRAB)
  2. Have a STAKED EOS balance.
  3. Have voted for 25+ Producers directly or through a PROXY
    (It doesn’t matter which producers, just vote!)

Meeting this criteria will reward you with POOR at a 1:1 rate to you STAKED EOS.

The snapshots would be taken at an arbitrary undisclosed time near the end of each month so people don’t stake and vote only for the purpose of the airdrop.

Why do I want POOR?

Now for the exciting part… why do you even want POOR?
This is where we want to hear from YOU, the community.

This is the concept:

  1. We create a smart contract called bepoornomore
  2. Tokens in the EOS ecosystem SPONSOR bepoornomore for a period of time by providing a quantity of tokens (For example, IQ, KARMA, HORUS, EOSDAC, RIDL, TRYBE, CET, OCT, BET, etc)
  3. The tokens would be available at a specified rate, for example 100:1 POOR:IQ
  4. Transferring your POOR to bepoornomore will BURN your POOR from the supply, and provide you with the SPONSOR token at the set rate
  5. By sponsoring bepoornomore these tokens, dapps, projects, and organisations can REWARD people who vote for Block Producers and support the EOS ecosystem without the logistical challenge of dropping their own tokens!

How you can help

We want to hear from the community on this idea, and for the community to engage their favourite DAPP and Token to voice support for this effort to reward the community.

Reach out to us on Telegram and let us know what you think!

Shoutouts

  • Syed of EOS Cafe and bloks.io for coining the terms poorman and airgrab
  • Michael of AirdropsDAC for inspiration