There has been some discussion lately about recent changes to our platform related to the earning and distribution of ASK. In this post, we’ll provide the rationale for these changes in keeping with our commitment to operate with full transparency and also to clear up any confusion on the part of our members.
First, the minimum amount of ASK required in ‘pending’ before it can be transferred to a user’s wallet has been increased to 50,000. Our experience after having hundreds of thousands of users interact with the platform has revealed that Permission’s off-chain operational costs for executing potentially millions of withdrawal transfers in minimal amounts is unfeasible. Instituting this limit will decrease the frequency of these withdrawals, reducing our operational costs.
We are working diligently to bring on new advertisers and content partners to generate revenue that could potentially support these operational costs. So far, our business development effort and reception from advertisers has been extraordinary. Preliminary discussions with prospective partners consistently validate our premise; that is, that the future of advertising will be permission-based.
Still, we are very early in the launch. We need time to demonstrate performance capabilities and grow the platform. As we expand the advertiser ecosystem, we expect this threshold number to change. In addition, we are rolling out very soon many new ways to earn that can accelerate the time it takes for active members to transfer.
Speaking of earning, we’d like to address two frequently asked questions related to 1) the maximum amount of ASK that can be earned per day by watching videos and 2) the amount of ASK earned per video.
Since launch, we have released additional earning mechanisms (“My Data,” “Open & Earn,” etc.), which required an adjustment to the amount earned per video. As we continue to roll out new earning opportunities, we will be regularly adjusting the amount of ASK earned for performing certain tasks, and such amounts will vary depending on how much earning is happening on the platform at any given time. The max number of earn events per day, and the amount of ASK you can earn from each engagement, was never meant to be fixed.
We are proud to share some astonishing metrics about how active our member base has become. Last month, users averaged more than 10 minutes on-site and watched over 80,000 videos per day. This is increasing daily as our user base grows. Again, as advertiser demand for ASK increases, we anticipate that both the amount earned per day and per earn event will surely change.
We recognize that many people may be frustrated by these changes. Please understand that these are growing pains which are ultimately good for the project and the whole community. We are very excited about how things are progressing and want you to know that the best way that you can contribute to the success of Permission is by referring your friends. The more members that sign up and the more widely distributed ASK becomes, the more the utility of ASK grows.
We hope that this post addresses many recent questions that we have received from the community. As a long-term, mission-focused project, we need to implement certain policies to ensure the integrity of ASK for the benefit of all participants in the network.
Feedback on these changes is welcomed, and we look forward to providing additional updates soon.