SPORTS Burn Plans
The SPORTS community is starting to see lots of new tokens being distributed into the ecosystem. To help provide a means of allowing these tokens to leave the ecosystem we have decided to implement a number of new features that will help burn tokens. This should make each of the remaining tokens more useful due to its increased scarcity.
Ways We Burn
1.) Promoted Posts
You may have noticed that SportsTalkSocial.com shows a 'Promote' button on each post. If you promote your post it becomes visible under the 'Promoted' level. Additionally your promoted post appears within trending and hot as a promoted post. Any funds that are paid for this service will soon be sent to @null thus burning them from being used again.
2.) SPORTS Account Post Rewards
I have to give @steem.leo the credit for this idea. There are a number of SPORTS related accounts that will post news about the platform that are managed by the SPORTS team. This means you will now be able to upvote these posts to receive curation rewards on it but the author rewards will be removed from the system. The current accounts that will be participating in this activity are:
@sportstalksocial
@sportspartners
@sportsvoter
@sportspromo
@sportsmod
3.) Creation of @sportsvoter Steem Voting Service [Upcoming]
We are seeking the community's views on the creation of a new tool to begin burning a substantial number of SPORTS tokens. By utilizing @postpromoter / @steem-eng's community promotion service we will be able to allow users to pay SPORTS for an upvote from @sportsvoter. 95% of the SPORTS paid will be sent to @null while the remaining 5% will be paid to @postpromoter / @steem-eng for operating the service. This should become available soon.
Seeking Comments on Changing Inflation Distribution
There are currently around 1B new SPORTS distributed each year onto the market for users providing content and curation to the community. We are exploring lowering this distribution by 20% to introduce a new distribution to anyone delegating Steem Power to @sportsvoter. By encouraging this behavior we will drastically increase the number of SPORTS that are able to be burned every 2.4 hours since this incentive would hopefully provide a larger STEEM upvote from @sportsvoter and thus more tokens can be burned as promoted payments.
Good to read the article about burning SPORTS.
Concerning @sportsvoter, we might need some incentives to encourage the SP delegation to @sportsvoter.
In my exploration, there are three successful steem-engine token-based voting bots, namely, @triplea.bot, @sct.voter, and @steemmonsters, which have been delegated approximately 700k SP, 1.2M SP, and 650k SP respectively. All of these bots provide some incentives to delegators, then it led to a successful delegation of a huge amount. I carefully think we should do that, too.
I understand that Sports Team already has some great ideas about it.
Thanks for your hard work.
That was my thought as well @rokyupjung. My hope is that offering a decent amount of SPORTS token distribution towards SP holders will encourage their participation. This will be slightly different from others platforms in that these tokens are distributed via token inflation vs from bids. We will instead offer more burning towards the platform by allowing all bids to be destroyed.
Do you happen to know the amounts that @triplea.bot, @sct.voter and @steemmonsters pays to delegators? I would imagine its a percentage of fees but I'm not familiar enough to know their payouts.
I think you start slow and see its impact before explore other involving changing inflation. This that happen has been an interesting route and is bound to come with challenges and being that that is the case, i feel we should take up the challenge and approaches solutions that aren't generic. A steemleo solution may not necessary be the direct solution for a sportstalk with its own inflation model. It is a good option though but i feel you should explore others, experiment with new stuff etc I feel blockchain plays a more powerful role as a mentality adjuster than as a reward distributor. I feel we shouldn't be sway and use the current pool as inspiration to incite growth. powered up token should be what it is, more of 'influence' and 'true influence' than just reward distributor. This means apply power to stir growth, so that the pool has more spread. With the masses tokens burn faster too. Recent move with actifit is a step. It is still earn, allow for a flow. take it as an experiment and an experiment doesn't really get to fail. I have started the motion via marlians. Growth there translate into sportstalk. I know the voice of the community and everyone talks about sportstalk. Perhaps target account claims and joint account claims and target growth in masses using poweredup tokens. plus curation efforts should involve directional comments to adjust the mentality and create 'true fans. this can be done jointly, with simply things as a posts that allows people to send in curation comments and burn can result from there. there more sinks than the generic. there is a lot one can explore. i think what has happened on sports can trigger steem growth as whole and perhaps an overall improvement on steem signs ups or joint rc. with sports momentum and directional curation etc, people can even pay 2 usd for sign-ups to steem, with a lil mentality adjustment and this can all be driven by votes, but not just vote, timely votes etc and joint movement involve a large bulk of us
I agree that SPORTS are completely a token of content curation vs reward distribution. That being said my fear is that if a token doesn't have scarcity then it becomes so invaluable that content can not be properly valued due to spammers having the opportunity to pass through spam without a cost of acquisition.
♥️ Good update, well 👆👌♣️
Thank you @zua-khan!
♥️ ♥️
Waoh, long live this community, this, to me is a perfect plan, and it will really help the platform a lot of way.
Thank you for the support @botefarm. It's good to see the community behind the plans.
Very good news about sportstalksocial, leo and overall, best of luck 🤞
Thank you for the kind encouragement @teposultan!
Oh wow! Burning tokens from official accounts is really a gamble to the part of the management as it can be a source of income for future developments and the compensation from the team behind it.
It's an amazing dedication and a for sure a positive impact to the Sportstalk economy.
I also have a question : Do you also plan to add the Steem Worker Proposal System that will soon happen on HF21? As a newbie I stumbled upon that and took time to absorb its function. I think that will be a great addition for future sportstalk development.
The hope is that by burning all of the tokens that everyone's tokens become more valuable. This should hopefully provide growth for the platform at large but also increase the worth our stakes to provide the services the community needs.
We would love to have a system similar to Steem's proposed Worker Proposal System. It will definitely be on the list of items for us to explore but for now it's not in the immediate future.
Thanks for the note! And thanks for the communication :)
I hope it gets reduced so the depreciation of the token is contained
I agree. Too much of a constant supply could devalue to the point of no spam control.
I like the improvements. Hope most people see value in sports and stake it for a long term . Good luck to us all and let the SPORTS be with you :)
Thank you @splines and may the SPORTS be with you too!
It gladdens me to see some planning to improve our ecosystem, things are going to improve for sure. Any help you need feel free to ask mate. We are a community hence we must help each other. Regards!
Thank you @jonsnow1983! This platform has been an incredible collaboration of so many efforts that I can't say thank you to all the people who are helping us grow.
This a great move from you guys and also the burning promoted post tokens is great.
I also love the work @sportsmod is doing by cleaning up the space, I commented there and will repeat it here, promote that post so that many people see it so that they can change!!!
Great work you guys are doing, kudos.
Thank you for the kind words. Let's see where we can take this!
Okay then.