Boomerang - A new Steemit Bid Bot for all Steemians - Whitepaper
The Boomerang Whitepaper
How to bid for votes
Just send any amount of SBD to @boomerang and fill into the memo the URL of the post that should be voted by @boomerang.
In order to send the SBD, just open your wallet (https://steemit.com/@YOURACCOUNTNAME/transfers) and open the menu in the STEEM DOLLARS section. Click “Transfer”.
In the dialog window fill in the following valued
- To : boomerang
- Amount: Any amount you wish
- Memo: The URL of the post you want to get voted by @boomerang
Finally click the SUBMIT button.
It’s recommended to check the voting power of @boomerang before submitting the bid for the vote. This can be done by checking it on https://steemnow.com/
In the example given a 100% vote of @boomerang is worth $ 4.43.
Boomerang Voting Strategy
Boomerang votes 10 times a day with an aggregated vote weight of 100 percent. The voting starts when block-number modulo 2880 == 0. The 100% vote will be splitted between all bids from the previous 2880 blocks.
Example: There are 3 bidders A B and C. In total they send 6 SBD to @boomerang and the 100% vote is valued at 9 $. Bidder C has sent 3 SBD (= 50% of the total 6 SBD), so he will get a 50.00% vote from @boomerang
@boomerang will send refunds in following cases:
- a user has sent STEEM instead of SBD to @boomerang
- the provided memo is invalid
SBD Distribution
@boomerang will distribute the SBD 10 times a day (directly after every voting round) to the STEEM POWER Delegators. The payout is distributed in proportion to the amount of the SP delegation.
Example: 4 users have delegated in total 10000 SP to @boomerang. If user C has delegated 1000 SP to @boomerang, he will get 10% of the total SBD distribution.
Curation Rewards Distribution
@boomerang will distribute the curation rewards depending on the total amount of SP delegations, for details see the table.
The more STEEM POWER is delegated, the higher the share that will be distributed to the delegators. Future changes are possible.
The curation rewards will be distributed once per week. As curation rewards are STEEM POWER, @boomerang will permanently be in power down mode to get transferable STEEM tokens.
@boomerang was initially created with 500 SP, the power downs of the first weeks will be used to release these 500 SP. After that phase, the curation reward distribution will start.
Curation rewards will be distributed depending on the amount AND the duration of the SP-Delegation. The duration is the number of voting rounds the delegated SP was available for voting.
Example: 10 STEEM are available for distribution. SP-Delegator B has delegated 2,000 SP which were used for 300 voting rounds. The product of 2,000 SP and 300 Rounds is 600,000 which is 12% of total 5,000,000. That’s why user B will get 1.200 STEEM (12% of the total 10.000 STEEM).
If a user revokes his delegation and does not delegate within one week, this user will lose his loyalty bonus. If he delegates again later than one week, he will start at 0 regarding the curation reward distribution calculation.
How to join
If you want to join the @boomerang bot, just delegate any amount of STEEM POWER to @boomerang. You can do this by using the Vessel Desktop App from @jesta, or via steemconnect from @busy.
Recommended would be steemconnect, because in steemconnect one can easily increase the amount of a SP delegation, which is not possible in the current version of Vessel.
To learn more about SP delegation with steemconnect, read this excellent tutorial written by @timcliff.
How to exit
If you want to revoke your SP delegation to @boomerang, just delegate 0.000000 VESTS to @boomerang. After 7 days the SP will be available in your wallet again (they are blocked for one week after revoking the delegation to avoid double voting).
Interesting project. The interesting thing is that the SP delegators get a cut of the action, unlike the PAL minnows channel where delegators don't get anything back.
Yes, that's the main idea behind @boomerang, to give the average Steemian back as much as possible without the need to run his own Dr. Otto bot.
Sent $ 2 to several posts
Upvotes gave for $ 0.2 on each post.
10% !!!
Worst result of all bots!!!
Hello @chance777, please take in mind that this is a bid bot. One round of bids is aproximatively 2.4 hours. It is also stated in the Whitepaper, that al the bids in a round will receive the coresponding share of the vote like in the example on top where 6SBD bids are getting votes from a pool of 9USD. Also the other way around applies, if there are bids with a total of 10SBD and only a vote of 5USD is available, than you will get less. As you put in over 11SBD for a round that had 4USD payout, without taking the other bidders in account, you already have lost money. It is the same principle as it is for all the bid bots. Try to put 11SBD into lovejuice, discordia or other bid bot.
The best practice is to check the vote power as it is described in the post and than check how many transfers have been sent, than for a round, bid only for one post as it will give you a bigger payout. The more bids the less you get, fewer bids in value, you get more.
Hope that this will help to understand the bid bot in general.
Ok
i had read all next time I will do for more ☺
Hi, how do I see how many bids have already been placed and for what amount for each round?
Is it more profitable to be a delegator for @boomerang or to self-upvote?
best of luck with the project... upped, resteemed, followed & used :)
Thank you very much @spirits4you.
Thank you for your support! Much appreciated! Stay tuned for my latest posts to have the opportunity to find out interesting things that happened to me.
Once again, thank you for support
Great Idea we upvoted this 100% we love the idea of Boomerang!
This is exciting, I'll try it myself and see what could be the result...thanks @boomerang in advance.
Thank you very much @adsactly
I have a question... For Weekly Curation you multiply SP x voting rounds. How can I find out what my voting rounds multiplier is? Thank you.
Sounds interesting. I will try this out.
That's an insane & amazing idea!
Thank you very much @jwolf.
good luck..... great project
Thank you @homeartpictures. Nice that you supporting the project with your delegation.
I like that...
Great project you've started. I'll be delegating some SP your way later today.
Thank you for your support! I'm glad real people actually started to notice my efforts and read my articles
Great. Delegate whenever you want, @boomerang recognises the delegation automatically.