Important LOLZ Project Update

Wow! It has been a long time since we have made an update, and this one has a few whoppers. If you are are a fan of the LOLZ Project, you will want to read this post (and hopefully upvote and reblog!)

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Upcoming Changes to the LOLZ Tipping Thresholds

Currently, the tipping thresholds (i.e., the amount of LOLZ you need to have staked to call the @lolzbot) are fixed, and have not been updated in a number of years. Due to the current value of the LOLZ token and the amounts of LOLZ staked, we feel these thresholds are no longer appropriate and we have decided to change how the thresholds are implemented.

Starting sometime in October, the LOLZ thresholds will be based on the percentile ranking of LOLZ stakers using the following table.

Title	Calls Per Day	% Threshold
Superstar	10	5
Headliner	8	10
Standup	6	30
Jester	4	50
Class Clown	2	70
Quick Wit	1	90

For example, if the amount of LOLZ you have staked puts you in between the top 5 and the top 10 percent of stakers, you would be a Headliner and be able to use the !LOLZ command 8 times per day.

The thresholds will be set, and posted, weekly based on the amount of staked LOLZ by all wallets. These changes are intended to make the use of the LOLZ tipping bot a bit more exclusive and will hopefully help increasing demand for the LOLZ token.

Upcoming Changes to LOLZ Curation

Currently, the LOLZ curation bots randomly up-vote an LOLZ tipper's comment and the tipped author's comment or post. While we believe this made sense when LOLZ Defi was just getting started and our stakes were small, the LOLZ Project is now a whale in many of the communities we are curating in. As such, it is no longer appropriate for us to give out such large tribal up-votes on comments.

We have always wanted to be respectful to the tribes we are curating in, and up-voting comments on comments doesn't seem respectful. As such, we will be moving to a new curation approach which we believe will help strengthen the communities.

Once implemented, the LOLZ bots will give a "full" up-vote to each post where the a !lolz tip has been used, and will give a "half" up-vote to the first user who tips the author. Note "full" does not mean 100% up-vote, and "half" does not mean a 50% up-vote. The size of the up-votes will vary based from a nominal level. We are thinking in the range of 2% for @lolzbot and 10% for tribal bots for a full up-vote, and 1% and 5% for a half up-vote. However, the up-votes will be scaled up or down based on the number of up-votes in our queue.

For example, let's say @captaincryptic is the first to tip a post by @curatingunicorn. A 2% vote from @lolzbot will be entered into our queue for @curatingunicorn's post, and a 1% upvote for @captaincryptic's comment will also be entered. In addition, votes of 10% and 5% will be entered into the queue for each of the tribes tagged in the post.

When it is time for a bot to vote, the size of the vote will be scaled up or down dependent on the length of the queue for that voting bot. If there are only a few votes in the queue for that bot it will be scaled up (up to a max of 100%). If there are lots of votes in the queue the vote will be scaled down.

One important catch!

Only posts that include the "lolz" or "fun" tag will be eligible for votes. The tipping token will still tip all posts, but LOLZ curation will only occur on posts that include either "lolz" or "fun" as one of the tags.

And of course we reserve the right to block any user who we believe is abusing the system. We may also implement additional requirements (like a minimum post length, minimum user reputation, etc.) to help ensure quality posts are getting the bulk of the curation.

In addition to helping the tribes we are curating in, we hope that this change will give LOLZ users more prestige and voting power as they will become the LOLZ curators who bring the swarm of LOLZ curation bots to the worthy posts.

We hope to roll out this change in October as well.

Ending LOLZ Farming

We have already announced this, but want to remind those who may have missed it.This is a tough one for us, as we know a lot of people enjoy the ability to earn LOLZ tokens for delegating tokens they want to keep, but may not be able to effectively curate. Unfortunately, due to the constant downward pressure on the LOLZ price caused by farmers who dump their earned LOLZ tokens, the amount of inflation of the LOLZ token is un-sustainable.

So as announced earlier, LOLZ farming will end at the end of September.

However, we will continue to pay dividends, both token and HBD to our LOLZ stakers.

Planning for an End to the LOLZ Project

This is the big announcement we hope will make everyone want to start hording their LOLZ tokens.

We have seen a lot of projects just end on Hive, and the token holders are stuck holding the bag. We do not want that to happen with the LOLZ Project, so today we are announcing a planned end date of the project, and more importantly, a payout to holders at the end of the project.

We are committing to continuing the LOLZ Project until the end of 2028 at a minimum (God willing). At that time, we will make the decision if we can and want to continue the project. If we decide we want to continue the project, we will call for a vote of LOLZ holders to decide if we should end the project or continue for one more year. These votes will continue each year until either we or the holders decide the project should end.

At that time, we will begin the process of un-staking our HBD and tokens, and will pay out 50% of our holdings of HBD and tokens to the top 125 holders of LOLZ and FUN tokens on a pro-rated basis, similar to how dividends are currently paid out.

LOLZ and FUN tokens will be treated as equal in this calculation, regardless of their respective prices at the time. We will include LOLZ and FUN tokens that are held, staked, or included in pools. We will exclude LOLZ and FUN tokens held by project accounts (@lolztoken, @lolzbot, etc.), but not our dev accounts (@captaincryptic and @lolz.devs).

For example, if you are holding 10,000 LOLZ and 5,000 FUN tokens, you will be considered to hold 15,000 tokens. If that holding puts you at 3% of the total for the top 125 holders, you will received 1.5% (3% of 50%) of our HBD and token holdings.

Let's Have More Fun!

I know we have been pretty quiet lately, and we hope to change that. We plan to start having more community posts, contests, and just plain fun! Now that summer is coming to and end, our owner/dev/janitor will be traveling much less and he (I) am committed to working to bring back life to the LOLZ and FUN tokens.

So stick around folks, the FUN is just getting started!

@captaincryptic

About the LOLZ Project

The LOLZ Project is an engagement project with the mission of spreading laughter and joy on the Hive blockchain.

• Use the !LOL or !LOLZ command in comments to share a clean joke and tip the author an $LOLZ token.

• The Top 125 $LOLZ stakers earn Daily Dividends.

• Mine $FUN Tokens when you hold Fun Miner ($FUNM) tokens.

• Earn $FUN tokens when you blog about fun things and use #fun tags.

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