Introducing: SmartPoints
Greetings Steemians,
as you might know, we recently announced that we're going to start manually curating posts on Steem.
Curation for #NewSteem
We've been curating for a few days now and even added a custom comment yesterday that we're posting under each curated post, so users know that the author didn't just buy the vote, but was actively selected for curation. (Later today, we will release a post, where the curated posts will be shown and where we'll publish our curation ethos)
So far, it's been very refreshing to support the community directly as well as people bringing value to Steem, by using proof-of-brain to give out rewards.
We're planning to focus mainly on curation with the Steempower we have currently been delegated to by delegators.
This, of course, creates a problem with lower payouts (possibly even none, with 100% curation) since we're not powering down and sharing the curation rewards.
The Reason Against Curation Sharing
The reason we ultimately decided against the route of powering down and sharing the curation rewards, is not because we just want to profit from it, not at all. It is primarily because managing the accounting for crypto is already complicated and adding curation rewards sharing with 13 weeks powerdown is a bit too much for the current situation.
This might change over time, as we've got more time on our hands after the re-release of Smartsteem.com. But what's the alternative until then?
Introducing: SmartPoints
What are SmartPoints?
SmartPoints is a token (not a SE token) that is going to be distributed at 3 PM UTC every day to delegators, (distribution will also be published to Steem blockchain for transparency) at a rate of delegated_steempower / 1000. Example: Bob delegates 10,000 Steempower to @smartsteem and will receive 10 SmartPoints daily.
These SmartPoints will not be tradeable at first (might be in the future) but instead will function and can be redeemed in different ways.
1.) For Smartsteem Services
We're currently redoing Smartsteem.com completely and this will also include new tools & services, which will be fuelled by SmartPoints.
2.) For Other Projects
The goal with Smartsteem was it always to build something with revenue, that can function as a fundament to bootstrap other projects.
So far, this has been a great success and we're planning on implementing SmartPoints to be redeemed for other goods on these new projects, where you can then benefit from being an early adaptor of these projects and a supporter of Smartsteem.
Closing Thoughts
Those are the two main ways we plan on giving value to SmartPoints, but more will most likely be added over time. Of course, we're not able to guarantee that SmartPoints are definitely going to have a value. But we love blockchain technology way too much to stop with Smartsteem. Again, this is an incubator for many great things to come and we hope you'll join us.
We're going to keep you updated on changes and should have implemented the display of SmartPoints on Smartsteem.com later today.
Last but not least, we want to thank everyone for the positive response on our recent changes and we hope that you're seeing how sincere we are about changing our business model for #NewSteem.
Sincerely,
Team Smartsteem
PS: The first distribution of SmartPoints happens today!
You guys were always so great to me, I think I will earn smartpoints but I must reduce my delegation in that I want to provide value to my posts for the moment. Definitely trust you guys will do quite well with this new initiative... thanks for the good times, and oh were they good!
No problem! We think that big stakeholders might find the idea interesting to earn something else than STEEM for diversification purposes.
Thanks for this clarity because I had begun to think that I wasn't receiving my daily payouts. I'm curious to see how this work out as im waiting to see the changes before I delegate more steem power. Again thanks for the information.
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Cool initiative! It would also be cool if people selling votes thru smartsteem.com could also earn smart points since they are also adding reward liquidity to the platform!
Good thought! We'll think about that, but our goal is to shift away from promotion towards curation, which also means vote sellers.
Will it be announced if you decide to refuse from vote selling?
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Of course.
I've noticed a drastic reduction of delegation profits (about 1/2) after new #hf. What is this due to? #hf by itself... ? New smartsteem policies... ?
This happened due to 3 main reasons:
1.) HF21 & increased downvote frequency => fewer people buying promotion
2.) HF21 & 50/50 => lower author rewards => lower delegator payout revenue
3.) Downtime due to bugs in HF21/HF22 => no votes going in/out => no revenue
I have noticed the same. I delegated over 6000SP and received about a half Steem yesterday. Will the revenue be climbing up again in the future?
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As we're shifting towards a curation service for Steem, no. Ultimately, you can either decide to keep/adjust the delegation and to be rewarded with SmartPoints, or to un-delegate if you feel that it's better suited somewhere else.
So basically the delegation to Smartsteem became basically useless ?
If you dont get payed out anymore, only in tokens that are in value (useless).
I had a income of 12 steem and 4 Sbd per week and it dropped down to lower then 2 steem and 0.02 sbd per week.
So your saying with this new system the revenue is not going back up for us ?
The info in the post is short and not very to detail, so i am kind of quite confused now what to do. I know the revenue went down as of the market price and now also due to HF21. On Discord you guys kept saying it is just due to the low amount of bought upvotes, but now it seems there is something else causing the massive revenue loss.
So it would be nice to get clarified by you guys, if delegating to you would be interesting (at all) to do for the future from a financial point of view. Tokens that cant be converted to actual dollars are empty, useless bunch of pc code.
If you could let us know this, then I (we) know if we need to continue delegating or pulling it back. Many thanks.
We've adapted to the environment. There is no need to be disrespectful or act as if we purposely decided to lower the revenue our delegators received. We did our best, but ultimately the community & market spoke and we believe it's the correct route. To be even more exact: œsmartsteem's votingpower was idling due to our strict blacklisting guidelines and HF21 after-effects, wich was the reason why your revenue had such a harsh drop.
Respectfully, how do you expect us to tell you how valuable our tokens are going to be? We do know that we're planning great things for the future, far beyond what Smartsteem is, but we're not able to promise anything. If we would, it would be a sham and a marketing trick.
Did you know what Steem Monsters would become when it was just a website? No. That's why the majority of people didn't buy Alpha packs. We would love to tell you our vision, but this is out of scope and not the right place nor the right time.
If you want to see what the future has in place for SmartPoints, we invite you on the ride. If not, that's fine too!
Hmm i just asked a question, not sure what you guys think is so disrespectful about that. I asked before for help on Discord and the answer was just "no votes where bought".
Then i see this blog and so some confusion came up according the ROI.
But i have not said that you guys "purposely" changed the system. If you think that is, please quote that to me then. Cause i find it funny you are accusing me from it while i have not said that at all.
Also i am not seeing why i should be unable to have a opinion about it, even if it would be a strong one. Smartsteem also became as it is due to delegators investing in your service. Yes we have a new HF and it changes a few things around, it would lower our ROI, but i am not the person who made the decision to turn stuff around.
I delegated from a financial point of view. Meaning i invest in order to receive cash for it. If you guys are changing from a payout to (at this moment) worthless credits, then yes it is a bad investment. If you find that disrespectful then i am sorry for that. But personally i find this a stab in the back to all investors backing your service for all this time. They have been investing to you guys so you guys can grow, and they can earn a bit from it. Now you guys grow big and you cut the income from the investors, and blame it on the hardfork.
The HF only changes the values a bit, yet i am seeing no reason, nor is there any (great) reason supplied from you guys, why the old system is not able to continue.
So with this info, to get back on what you said about "choosing purposely" making decisions. You could also have chosen to to just lower the ROI according to the new HF21, but you guys change it to a token that is backed up by literally nothing. So i am not getting why you get offended if people would not agree with that.
Why are you hosting a service on a free, multimedia platform, if you cant handle criticism ?
I cant wait to use the smart points tokens
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Great iniciative and happy to heard this news 👍
Perfect! I am very pleased to read this and will delegate 10,000 Sp
@smartsteem sir why are you downvoted my post i am very poor person please do not do it remove your downvote
I'm trying to do the delegation and I don't understand
Please join our discord: https://discord.gg/vSD7xgs
Question, will buying SteemMonsters packs now earn us smartpoints as loyalty rewards? I assume yes just clarifying :)
Good Question, but no. If you buy SteemMonster packs over our website, you'll get a share of STEEM/SBD. SmartPoints will only be distributed via delegation.