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I want to support the little guys, not the already wealthy.
If we're going to adopt subscriptions as the web2 social networks, we may as well ensure we prioritize inclusivity all the way up.
When Leo ads was first pitched, I can recall it being promoted as a system that will take ad revenues, buy back Leo tokens and distribute to stakeholders and I voiced my displeasure with this because authors were ignored.
Soon after, I was told that authors would be included in the revenue distribution but till this day, we are yet to know what the revenue split will look like.
Now, we have Leo Premium, taking $10 a month from users and feeding into the Leo liquidity pool.
Well, that's cool, but why would anyone pay that much to change colors of a frontend when less can be spent on Twitter - which has more content reach and at the same time, the paying individual would stand to earn from the ad revenue?
I know you'd be tempted to say more features are coming, that's cool, but hear what I have to say first.
Leo cannot compete with Twitter at this point, so in my opinion, which I believe many others share - even though they won't say it, the Leo premium is not very valuable at this point, not to the average user to say the least.
Currently, I see it to be merely taking money from users and feeding into a pool giving the whales easy access to liquidity to sell their tokens.
Pay A Percentage Of The Subscription Fee To Writers, Sir Leo
It just seems like exit liquidity for big accounts, because what's the fun in paying $10 to a pool if you have just $300 worth of tokens? That's like paying 3% in fees to dump your tokens, assuming 30 more people add to the pool and don't trade at this point.
With the nature of AMM DEXs, you may even get less than $300 when you make the swap.
So I suggest the subscription is split between writers and the pool. I mean let's face it, without writers, there's no Leo, distributing a piece of this revenue to writers would benefit the Leo ecosystem in a couple of ways including:
Increase in quality content
Given that distributions of these rewards will go to those driving traffic, we may see the community turning to valuable content that people want to read to drive internal traffic for the rewards.
Increase in premium subscribers
Like myself, I will pay for Leo Premium when this becomes a thing and I believe many others will too because even if they are not writers themselves, they get to support the writers they love or simply those driving traffic through being a subscribed member.
We simply introduce a medium-like system where the subscription revenue is distributed based on the content these subscribed members are consuming.
That is, say the percentage going to writers I read is 60% of the $10 I pay monthly($6) and I've read 100 this month, this would mean that each article I read receives $0.06, so if 30 of these articles were from one author, it would mean that I've been able to contribute $1.8 to my favorite author just for being a premium subscriber.
This would involve tracking accounts' reading habits, I understand, but I believe there should be ways to do it without invading anyone's privacy.
We could also make it compulsory that you must be a premium subscriber to earn from the premium subscriber revenues.
So at the end of the day, regular writers can earn from ad revenue. Investors can earn from ad revenues and also benefit from the liquidity pool being enriched monthly( with 40% from the premium fees). And premium subscribers writers can earn from ad revenues, from premium subscriptions revenues and also benefit from the liquidity pool.
That sounds about fair to me and should be a catalyst for growth in the Leo ecosystem!
Let me know your thoughts below…