I have a question:
If I have 1000 FOAM tokens and use them to build POIs:
What are the benefits of building 100 POIs with each POI of 100 FOAM Tokens? with I just built 2 POIs with each POI of 500 FOAM Tokens.
To build many POIs, I will spend a lot of gas.
I’m trying to build over 200 POIs with 100 token foam per POIs.
Thanks,
QuyetHuynh
The basic idea is that the more useful points of interest there are on the map - the higher is the total utility of the map, which should attract more participants, which should drive demand for FOAM token, which should benefit existing token holders. FOAM is utility token and the game is to generate enough utility to back its price.
So, to answer your question, 100 useful POIs is better for the map than 2 useful POIs, though you will not derive immediate rewards for creating them (except maybe you actually own those POIs and want to give them some visibility in the early FOAM community).
Hi foamspacer,
As I understand: When there are many applications running on it, then I have the benefit. During build POIs, I received nothing.
If that is wrong, explain in more detail!
Hey QuyetHuynh!
I think you’re wondering if FOAM gives rewards for creating POIs?
Well, we could theoretically build an incentivisation model that rewards tokens to cartographers but when you think about it. Inflation punishes the early Cartographers on the map who have been participating for Altruistic reasons.
Inflationary rewards could also perversely incentive quickly adding low quality points while diluting the shares of those being diligent.
Also, if the inflationary reward pool for adding verified points is limited it could easily be drained by an attacker adding many low quality points quickly. This also applies if inflation was unlimited and rate limited per point.
Our focus has been on planning extrinsic incentives such as campaigns like contests, bounties, and mapathon events later on, to test out extrinsic incentives models and find out which works in building up the map.
I recommend that you take a look over at this thread where we had a long and fruitful discussion with several members of the community! This helped greatly in planning the next steps for the FOAM Map.
And also if you havent read the blog post on Incentives and TCR Design on the FOAM Map by Ryan.
How will you prevent signals from being the only thing on the map? If these get rewarded, and foam gets scarce, people will remove POIs to gain more tokens (because worth more). There has to be SOME incentive. Maybe a PoL call at a POI rewards both the Signal creators (those used in the triangulation) and the POI creator (where the individual checks in)? Should validating POIs using PoL with signal triangulation be rewarded?
This is a great question! @Jacob
Let me add it to the list of questions for the Community Call we’re having this Friday at Noon EST.
You can sign up for that here !
Hi Daryl,
Why not limit the number of FOAM tokens to build POIs?. I see some POIs up to several thousand FOAM tokens. So it costs a lot of resources to build POIs.
Regards,
QH
The minimum stake for a POI listing is 50 FOAM and there is no upper limit of FOAM, listing a POI with more than 50 FOAM is up to the cartographer.
A POI with more FOAM staked will have more visibility in the FOAM Map Rankings. The highest ranking POIs will be visible on the globe at the highest zoom level. As you zoom in to a particular region, city, town and finally city block, the ranking is defined relative to the other points within the current view at that zoom level.
Also once the Governance tools are introduced users are able to vote and change the minimum stake required for POIs.
I’ve been following the discussions around intrinsic/extrinsic motivations and wanted to see how it is actually shaping out. Here’s what I found: cartographers are adding points beyond what is required for Proof of Use, even without additional incentives.
Crypto and mapping enthusiasts are simply having fun adding points – see this tweet:
I think this demonstrates a low learning curve, and an easy to use UI for the map interface.
hi, i’m just a beginner & i have put some POI in Paris… and for now it’s a little bit unclear for me what is the incentive to put new POI in your protocol. On OSM, the incentive is a reputational & social one, & in counterparty, the cartographer haven’t to spend money on the map they work on. But in Foam, you have to stake Foam tokens (and pay for it), for putting a POI & your Foam staked on aren’t recovrable + you have to add eth gas fees. So basicaly, if i understand well (i hope i haven’t understand…) we have to pay for putting good informations on the map and received nothing in exchange ? only the challenger/voter win reward ? please anyone can explain me the incentive of cartographer to spend money on a map without return?
There is still reputation and social incentives in being a Cartographer on the FOAM Map. Maybe less apparent now, but I imagine after the NFT treasure hunt NFT badges and leaderboards come into play.
While I think it certainly is a barrier that you need to purchase or obtain FOAM tokens to participate it is important to be distinct in recognizing that you are not “paying” to add a point and FOAM Token is not meant to operate as a cryptocurrency or as money, it is a token needed to work and participate in the network, and you staking it is a sign of commitment to the truthfulness of your contribution.
This does not exist in OSM and thus large corporations have to clean and protect the map and then sell this data. In the FOAM Map there is now a bounty in every point for curators to check on it, does not exist in OSM.
Moreover, as the value of the Map grows you are a stakeholder with governance rights, something OSM does not offer and the minimum deposit for points can be lowered over time which means you can withdraw more tokens. Also, at anytime you can removed the point all together and take out your tokens. You always own your tokens unless lost in a challenge.
