We at eSteem, try to find balance between creating a sense of scarcity for ESTM, while still ensuring that a large amount does not accumulate into a very small number of users. Mining on eSteem app is based on what we call Proof of presence and Proof of action, which means no battery drain, no CPU/GPU mining, no data mining. It is lightest mining ever and perhaps one of the first one that allows you to mine on mobile devices. And we are determined to make mobile mining fun!
We want to make sure our users earn more ESTM as they make contributions to the growth of network.
eSteem’s goal is to build an economic model that is sophisticated enough to achieve and balance these priorities while remaining agile. We want to align incentives so that these tokens will be used and invested, circulated with products and services on eSteem platform.
Total supply fixed: 1,000,000,000
- Mining allocation: 65%
- Incentive, referral, bounty programs: 15%
- In-app purchases: 10%
- Reserve: 5%
- Team allocation: 5%
Distribution will depend on market price of ESTM as well as to logarithmically decreasing function. Meaning, early users earn more. As more users mine distribution slows down reaching to total supply.
How to mine ESTM?
Using eSteem apps (Mobile, Surfer) for posting, commenting, consistently using, voting, reblogging you are already mining ESTM points. We have few more ideas on how to reward our engaging and loyal users. By default eSteem tokens are unclaimed, you have to claim ESTM rewards just like you claim Steem rewards. Simple daily usage mines you ESTM, while you continue enjoying your Steem and social experience.
How to use ESTM?
We have prepared a new release which we will roll out in phases. Surfer has been released recently with few use cases and coming days update will be offered to Mobile users. In this new release, you are able to gift your ESTM to any user, promote your post with ESTM within app (post will show across all feeds on eSteem and give your content more visibility), use ESTM to boost your post via upvote (only posts made via eSteem apps are eligible for boosting, if post doesn't meet quality control ESTM is refunded back to user), get delegation for ESTM (you will be able to exchange your ESTM to Steem Power delegation). More use cases, we will roll out as we iterate changes. We have some exciting ideas and I am sure you will love it.
When user redeems/uses token, it will be transfered to temporary treasury account which is then distributed back to active miners, that way max supply will be circulated. All ESTM operations are recorded on Steem blockchain.
When user holds token, they will have special advantages that can unlock certain feature, earn passive income, opens gate to increase influence within platform, more details we will announce at a later dates.
How to invest in eSteem?
Our primary goal as mentioned, is to increase demand and balance usage of ESTM token. ESTM points are the ticket for ESTM SMT token. Only way to invest ESTM right now (other than using app), is to delegate to
@esteemapp. By delegating any amount, you will receive ESTM tokens daily (10k SP ~ 100 ESTM daily). We are working on in-app purchase, allows anyone to purchase ESTM with their local currency on eSteem mobile, upcoming release will have initial implementation of this.
We have plans on doing IEO to further distribute ESTM and support future development. Already in touch with few reputable exchanges.
With a launch of SMT, everyone will have ability to swap ESTM points to tradable ESTM tokens. If you are private investor want to purchase ESTM tokens, reach out to us at
[email protected] or write in our Discord channel, we will be happy to share more details.
Short to long term roadmap:
- v2.2.0 release Surfer, desktop application ✅
- v2.2.0 release of Mobile, iOS and Android application
- v2 release of Homepage with minimalist style webapp
- Detailed whitepaper draft
- On-boarding outreach, referral system
- Steem Engine token integration (depends on smt release)
- Exchange tokens
- P2P market
- Merchant/businesses onboarding
Roadmap presented here is rough goals, vision
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