Into the Heart of Sustainability: Rewarding Delegations with Increased Rshares!
Rewarding Delegations with Increased Rshares!
Welcome to the next installment of Into the Heart of Sustainability! This week we will be looking into another important way to support the Steem Basic Income program, delegation. We are one of the largest leasers of SP on the platform, currently consuming 14.5% of the total SP delegated through the MB market. Therefore any delegation that comes directly from members is a great help to the program, and we want to reward it as such!
Do You Know what Steem Basic Income is?
Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.
Rshares Accumulation
Currently we are awarding bonus units to delegators at a rate of 1 bonus unit for every 2SP delegated. Bonus units currently accumulate rshares balance at 800M per day per unit, and 2SP can currently vote approximately 801M rshares per day.
We use 800M per day as the base for all our reward rates because 800M per day is the approximate votable value of 2 SP. One important thing to note here is that as SP value of MVests is gradually inflated at the protocol level, the votable rshares of 2 SP will drop below 800M rshares per day, and we will need to adjust accordingly.
Let’s take a moment to mention the difference in calculation between member shares and bonus shares. Currently member units accumulate at a rate of 800M rshares per day multiplied by our sustainability coverage ratio whenever it falls below 100%. This is to reflect the cost of leasing SP to cover these units. If lease costs go up, our sustainability coverage goes down, and we lower the rshares accumulation of those units by precisely the right amount to keep us sustainable.
Bonus units from delegation don’t work in the same way. Having members delegating to the program is more sustainable than leasing the same delegation. Since we set the terms for our member delegations, we do not have to worry about negotiating with fluctuating lease prices. So far we have kept their rshares accumulation at 800M rshares per day, because the delegated SP is enough to cover this (and a tiny bit more).
High curation bonus to delegators!
It is our intention with this series not only to explore the math with you, but also to actively search for areas that can be improved, adjusted and enhanced.
By supporting our members who continue to produce valuable content, we earn above average curation rewards. This gives us space for substantial improvement in our delegation rewards - by returning our curation profits to the member delegators that make them possible. We are increasing the rshares reward rate of bonus units to 800M or (0.75 + curation value) * 800M per day, whichever is greater! With our current curation return level of 35%, we can now offer (1.1 * 800M) or 880M rshares per day for bonus units!
This shares our outsized curation rewards with our delegators, hopefully encouraging more delegation and increased sustainability for our program!
If you wish to support this program and help us to become more sustainable, consider delegating to @steembasicincome.
Writer Bio
This Sustainability report was prepared for us by @ecoinstant.
From a young age, @ecoinstant continues to be very interested in the mechanisms of sustainability, and loves being a part of several teams working on promising projects, including the marvelous Steem Basic Income!
Sustainability Coverage and VP Management
Sustainability Coverage is currently at 88.37% and rshares reward rate is 706,984,910 per SBI unit per day. This is another improvement from yesterday and we will see even more improvement soon as the last of our Conversion losses drop out of the seven-day calculation period.
The rshares reward rate for bonus units (delegation reward) is not decreased, and you can help increase the sustainability coverage (and thus the rshares reward rate on regular units) by delegating to @steembasicincome.
For more information, please read Into the Heart of Sustainability.
Upvoting Reward multipliers are currently at 1.10x on regular updates and on secondary accounts and comments, until our voting power (VP) recovers to 80%.
Questions?
Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.
You can look up your current membership levels by using !sbi status in a comment or post, or by using our newly modified member lookup tool.
!sbi status
Hi @r2cornell!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @samuel-swinton!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
@steembasicincome Will my balance still be drained by 20% if the SBI accounts are unable to provide a $5 upvote?
@amr008 is correct. We check the actual rshares that were delivered and only remove from your balance the precise votes you received.
Some high balance members have taken a week off from posting to get comment voting activated (like yours is now) and then go on a commenting spree to draw down their balance. It can take a while, since the maximum upvote we deliver on a comment is $0.24 and you continue to be responsible for your own comment quality.
There are groups that seek out and flag low-quality comments that have big votes and you don't want to attract their attention. If you do make a comment that you think will raise eyebrows with $0.24 on it, you can use #sbi-skip to keep it from being voted on.
#sbi-skip Oops! Didn't intend for that. Perhaps we should lower the cap on the comment votes as to not draw the ire of such groups. For example, 9 cents seems innocuous.
Even 9 cents is enough if your comments are really spammy. Just make sure you're genuinely interacting and adding value whenever you comment (and hit skip if you think it's in doubt) and you should be fine.
Getting 26 cents for doing !sbi status is likely to draw some attention. I am just concerned about people getting targeted for using SBI. I think it is something to consider.
It's something we keep an eye on. I would hope that somebody getting sbi votes on comments would be sensible and use #sbi-skip on a status call (status call response will still work). So far people have only been targeted based on their own abusive behavior (with SBI being a tool they use to profit from their abuse).
Even that is pretty rare, since the SBI ROI cycle is too long and abusive accounts typically want a quick churn because they don't know how long it will take to get caught. Accounts can be blacklisted from SBI for abusive behavior.
Hi @samuel-swinton!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
No sir it won't. As far as I know , it will reduce the exact same balance of how much it has upvoted
Posted using Partiko Android
!sbi status
Hi @scilwa!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @mulletwang!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @felipejoys!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @felipejoys!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @felipejoys!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @felipejoys!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @felipejoys!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
!bookkeeping drugwars
Hi @alaysiababin!
drugwars
Received:
Spent:
Total:
First transfer was before 31.93 days.
Your ROI per day is 2.00 % and you are earning approx. 2.21 STEEM per day.
Break even in approx. 18.0 days.
ROI when taking only the last 5 days into account
Your ROI per day is 0.69 % and you are earning approx. 0.77 STEEM per day.
Break even in approx. 51.9 days.
!sbi status
Hi @guifaquetti!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
Does this additional delegation benefet have a potential downside that reduces the "Community Factor" of SBI?
With the added benefits outlined above, are we edging closer to people juat powering up and delegating rather than sponsor other members?
Posted using Partiko Android
Community Support Initiatives will be powered using the pending balances blacklisted accoutns and of accounts that have not posted/commented in more than 100 days, along with other sources of revenue, such as the witness server that we will launch after our Community Support Initiatives are fully operational.
The most important way that SBI has always been a resource to communities is the ability for community members to sponsor and support each other in a long-term sustainable way. This is helped by the change because better delegation rewards will bring in even more delegation and boost our sustainability coverage.
Since bonus units are only granted for delegation to @steembasicincome, a few people have asked if they can delegate on not receive bonus units (e.g. just to help out) and this is easily supported by delegating to @sbi2 or one of the lower accounts. That boosts the total amount we can vote and support everyone with, but without a complemtary increase in how much we need to vote.
How long does it take to start tracking new delegations?
Those are processed automatically every 144 minutes (at the same time that enrollments are processed). Bonus units will update at that time and pending vote balance will immediately start to grow at the new rate.
Thanks. I assume that has to do with upvote power syncing, since it coincides with a single vote's recharge time.
Earn rates per unit are based on the per day votable rshares of 2 SP (with some adjustments for sustainability coverage and curation reward), so it made sense to slice the daily amount by 10 and run it on that interval.
We could slice it up however we want, but 144 minutes is an interval easily recognized and accepted by most experienced Steemians.
Thank you for this, I'll consider delegating again. !sbi status
Posted using Partiko Android
Hi @crypticat!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
Great change! Thanks for the continued transparency!
Posted using Partiko iOS