I’m in the process of doing some housekeeping for the SGS Community Curation Project also known as Precious the Silver Mermaid. In 2018 when the project was founded it was back in the STEEM days and the token price was around $2. When we created the Sponsorship Tiers we wanted to try and create an incentive for people to stake the STEEM token. We also wanted to make our tiers accessible for both established and new members alike so we created 5 tiers. The lowest tier was called Tin and it only required a delegation of 100 tokens. Back then that was worth around $200 USD and today that number of HIVE tokens is only worth about $22 USD. So yeah, that’s a fair drop in value, and that sucks...but that’s not what this post is about.
Today the SGS Community and our Precious project are in decent health and we’re still doing our best to add value to the Hive ecosystem here by creating quality content about Precious Metals. We have a good number of sponsors and the project is 100% self-funded by our community. Today we also have some very generous members who are effectively sponsoring our newer members by delegating on their behalf to help them get established. Thus, not only is the stake requirements for our lowest tier now just a fraction of the value of what it was, our more established members have taken on the job of on-boarding our newer members with the project anyway.
As a result I don’t think we need this Tin Tier any more. Having a look in the database we only have 3 people still sponsoring us via the Tin Tier and while their delegations remain in place, they haven’t participated in the SGS Community for at least 4 years. I think it’s pretty safe to say that they aren’t going to care if we abolish the Tin Tier and we can comfortably make the call that we don’t need to facilitate sponsorship of our curation project at such a low entry level. Especially now that we have a more mature on-boarding process.
Obviously if anyone has any objections to this change or how the project is run then let me know. There is a bit more housekeeping for the project that I will be undertaking over the next week or two so if you're interested then please keep any eye out for more updates. I am always keen to hear any feedback about the project.