Update #05 of the SBI share re-distribution

in #blog5 years ago (edited)

Since we started the "rewards revamp" two weeks ago, we have distributed a total amount of 72 TPU tokens to the winners of the daily photo contests. Every time we send a TPU token, the recipient will receive a notification memo from @tipu that is sent to the recipient's wallet. Each of the recipient's token can be seen or tracked through the following website or extension applications.

Since TPU is designed as a token that is backed by @tipu's native SP, you will be able to receive a daily profit share if you decide to hold it. Aside from holding the token, you also have the option to either sell it through Steem Engine market or use it to buy an upvote through @tipu voting service. There is so much flexibility to the token and every recipient has the full freedom to use it however the recipient wanted it.

For today's update, we are thrilled to state that we have distributed about 21.273524% of the total of 67 steem rewards to be re-distributed to the specific accounts listed below.


 

As indicated, it equates to about 14.253261 steem that re-distributed up to this date. With the stated amount, the 7% margin is already deducted to ensure that the accounts will be receiving much more than what was intended amount.

By having to vote for each account at 10%, once for each day, we are able to maintain the VP at a range of 90% - 95%. We have decided to maintain the vote weight since we noticed that more authors are keeping up in posting at least once a day.

Due to our goal of maintaining the standard VP range for the Photocircle account, we decided to keep the 10% voting weight until we are able to allow more vote percentage for this re-distribution of SBI reward.

In the past few days, we noticed that there are more authors that are posting more frequently which is good. In this case, we are able to distribute much faster than expected. In addition, there are authors that are posting more than once a day. Even though we have set Steemauto to only vote for an account once a day, it seems that the Fanbase tool will slip every now and then, thus some of the recipient accounts is receiving more than one vote in a day.

In the pass weeks, we only record one of the upvotes since it only happens in few occasions. If in the next few days, the Fanbase tool keep slipping and upvote two different posts from the same account within a day, we will diligently record all upvotes.

Essentially, the pace of re-distribution for some accounts will be much faster and be completed much sooner than the others. If this happens, we will be able to free up more voting weight to the remaining accounts.

As we closely monitor the distribution process, we aim that we will be able to allocate the resources in such a way that all recipients will be receiving the rewards to the soonest possible time.

Have a great day everyone!
Photocircle


Posted from my blog with SteemPress : http://photocircle.repollo.org/2019/04/08/update-05-of-the-sbi-share-re-distribution/

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What happened to the shares? Is the Tipu project buried?

Posted using Partiko iOS

Hi @mitchtokita, we will resume the shares re-distribution at the beginning of June 2019.

In the case of TPU tokens, we have distributed all of the TPU tokens that we initially purchased (almost 200 tokens), after that we had difficulty purchasing new TPU tokens through Steem Engine and so we decided to revert back to Steem tokens instead (for now).

I believe you are still holding the TPU tokens you received before? If yes then you should be receiving a daily payout. And if you decide to sell it, you may do it in Steem Engine, its worth should be slightly higher by now.

Thanks - yes, I got 1 token, I guess I will hold it...

Posted using Partiko iOS

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