Burning STEM Rewards for STEMGeeks accounts & curation

in stem •  5 months ago


@stemgeeks is the primary account for announcements and engagement with the STEMGeeks community. All official announcements will come from this account and I recommend following the account if you feel you will be an active member in the STEMGeeks community.

There are two STEMGeeks accounts that potentially can earn STEM token rewards @stemgeeks & @stemcuration.

My goal is to try to minimize the influence on the reward pool and allow the community to decide what should be rewarded. Out of the 2M STEM tokens allocated from the initial supply, I powered up 50,000 STEM to the account @stemcuration.

I wanted to power up enough to reward the best content in the community but avoid devaluing the stake of community members. This is a very difficult balance and I feel a meager 50,000 STEM Power achieves that goal.

The reward pool on STEMGeeks rewards curation 50% and that means @stemcuration will collect STEM tokens for doing curation. While I have no plans to optimize the voting on @stemcuration and it very well may sit at 100% voting power for extended periods of time, it is unavoidable it will collect STEM tokens.

As such, I plan on burning any rewards generated from @stemgeeks posts and @stemcuration curation. I believe this allows the community to earn curation rewards if they chose to vote @stemgeeks posts but doesn't encourage STEMGeeks accounts to stack tokens. This will not be automated (at least initially) and will be done infrequently but they will not hit the market.

This also creates a sink for STEM tokens that will reduce the impact of inflation.

For the foreseeable future, I will be burning rewards gained by curating and posting on STEMGeeks accounts. I believe this will allow your stake to have the most impact and minimize our impact on inflation.

STEMGeeks has relatively low inflation and creates fewer tokens than most tribes, a little goes a long way.

If you want to get involved, come join us on Discord

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This is an excellent start of a very promising tribe. When I joined Steemit more than a year ago, my initial idea was that this platform (or part of it) may develop in the long term into a scientific publication medium that may give a solution to the not really efficient and fair peer-review system we have at the moment. I am happy to join this tribe and look with confidence into the future of it.


You should have a look at steemstem.io. Might be up your alley.

I am not sure if I will have much to add as a content creator for this community but I sure do look forward to curating.

#gostem #keepsteeming

I'll definitely lend a hand by upvoting along... and using the ole down vote <- hopefully not as much.

Congratulations @stemgeeks! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 10 comments. Your next target is to reach 50 comments.
Your post was the most commented on one day

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!