As we start the new year, with a new mindset and ideology, Hiveph will remain to provide constant updates to the community, especially on the financial side.
This December report is to close the accounting books for the year. Hopefully, 2023 will be more fruitful compared to the previous years as there will be more stuff that the team will implement to improve the community.
For the members:
As a member of the Hiveph community, you will have a bird's eye view of how we are doing so far as a community. You can make an informed judgment if we as a whole are functioning properly and probably you can give suggestions and feedback on how we can improve.
If you are not from Hiveph and see this report, this can give you a breakdown of the stuff that we do in our community and for transparency as well. Hopefully giving confidence and future support for our cause.
I started doing the audit last March 2022, and since we are not able to meet for the whole 12 months I don't have a year-end consolidation of how we did. It is possible but the data might be in reconciliation further thus going forward January 2023 I on the accounting side had made some slight changes with the team.
From the first report published the account started at 7,871.492 Hive Power this December we ended in 8,506.345 with a variance of 8.065% increase. You may be wondering why after 9 months the account's Hive Power just increased with such a small amount of 634.853. It is because only a small amount of rewards go directly to the community account itself.
If you will take a look at the curation post that was generated by the account daily 40% of which goes directly to the community curators and the rest will stay in the account as HBD and Hive Power also the post rewards aren't that high compared to another post from a regular user. ( It is given since this is a community account.)
So what can you do? It is for you to think about.
The combined incoming transactions from Hiveph and Hivephilippines are quite higher than the previous months as there are people who donated Hive to the community for the year-end programs that we had initiated. All transactions are fully documented to make sure that everything is audited correctly however, there may be some slight variance with the automated rewards sent such as Delegation, OCDB, and Dcrops due to the time difference as the data entered last 01/01/2023. But for user transfers, the following are current and updated.
How to Compute the Community Earnings?
Total of HivePH Incoming Transactions + Total Hive Earned from Delegations (Hivephilippines) + Curation Rewards ( HivePhilippines ) + Benefactor Rewards ( Hive) - Contest and Events.
In regular months, we have a limited amount allocated only for contests and events but since it is a year-end event plus we had some donations coming in from the community members we opted to go over the budget.
After getting the community earnings these will be divided into three categories. Staff Rewards, Contest Funds, and Kaban ( Community Funds). The division of the three may vary, but on a side note, the team focuses on adding more rewards to the staff members who contributed and claimed their share this month. Staff rewards have a pool where people can make a claim and the total pool is divided by the number of persons that opt for the rewards.
It's an inefficient system to judge someone's input for the community knowing how some could do more for the community and still get a an equal share. But going down a route where we judge individual merits by subjective point system over pocket change isn't something I'm looking forward to do. Staff members can opt out. The act of opting in has symbolic reasons in the form of peer review and self reflection. If you put in value to the community, the community gives you back that value.
As per the proposed budget for the contest next month, the community will only release 30 Hive and the rest will go to the community funding to either further increase the Hive Power or cover some deficits that we may incur. Donations are still welcome for those that want to support some of the HivePH initiatives.
Notes:
The bulk of this post was written by TP.
Edited by his besty ~Adam
Arc.