Each BBS operates with its own internal Community Currency (CC). In this board, we use METABBS as our CC.
Users of a BBS can use their CC to buy and sell posts' NFTs, and can also cash out the CC they earn from ad revenue into BBS tokens which can be used across the BBS Network.
Users can earn CC through bonus rewards, publishing posts, and purchasing posts, but only CC earned from impressions generated on owned or published posts are cashable to BBS tokens.
Cashable Balance
In order to increase the cashable balance, BBS users will need to either own or publish posts that generate impressions. One impression is one unique registered user with a social account link clicking/viewing a post. Accounts created after 02/21/2022 must also have a linked social account (Facebook, Google, Twitter, etc) in order to be counted as a valid impression. When a post receives an impression, the ad revenue is split 50/50 to the post owner and publisher. All ad revenue earned is directly applied to a user's cashable balance.
This means that the best way for a user to earn cashable funds is to create or own posts that will receive many impressions or a lot of engagement.
In order to cash out for the first time, a user will need to reach a minimum of $20.00 cashable balance. Once this balance is reached, the user can apply for whitelisting on the specific BBS they earned in.
Whitelisting
Once a user reaches the minimum $20 cashable balance, they can apply for whitelisting on that BBS.
Once the whitelist request is submitted, the BBS owner and their moderation team has a chance to look at the account activity is genuine and within community guidelines. After reviewing the whitelist request, the BBS owner and moderation team have the ability to grant or deny whitelist for a user to cash out their CC into BBS tokens.
Cash Out
Once a user is whitelisted and chooses to cash out, they'll have to designate how much of their cashable balance they'd like to exchange for BBS tokens. The current rate is 1 CC : 30 BBS tokens, but this amount will be variable once the token is public.
System Fee
Every cash out is subject to the BBS system fee. Currently the default fee is 30%. The system fee represents the share of the BBS's revenue distributed towards the BBS owner, BBS DAO, and the BBS operator as follows:
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For example:
$20 CC cashed out to BBS tokens would grant 419.46 BBS tokens at a 1:30 rate after the system fee is applied.
Once a user submits a cash out request, the cashier will process the transaction if the cashier balance is sufficient, if the balance is not sufficient or there is already a queue, the user will be entered into the cashier queue.
Cashier Balance
The Cashier Balance shows the current available liquidity to withdraw from. The cashier balance is increased through Community Currency purchases on the BBS, either from advertisers themselves, or by the Engagement Mining program.
If there is not a sufficient cashier balance when a cash out is requested, the user will be entered into the cashier queue.
Cashier Queue
When a cashier does not have enough balance to process cash outs immediately, a cashier queue is created. The cashier queue is filled in order chronologically per cash out requests.
Once the cashier balance is filled again, it will process the cash outs next in the queue.
Have any other questions? Let me know!