RE: 250 000 Axon Give Away! Axonomy Global Content-Based Competition
【Resteemit】 for #Axonomy Token Design Campaign
Original Author：
ilyastarar
Additional But Important Information About Steemit Reward System
There are some things you should know and understand to make the best out of Steemit. Some of them are crucial.
Post Payout is Finalized in 7 Days
Every post or comment has exactly 6 days and 12 hours to get upvoted. It can be upvoted after that too but you won't get anything. After this period, post payout is calculated and then finalized upon completion of 7 days and rewards are sent to your wallet. Put your marketing efforts during these 7 days only.
Value of Upvotes Comes from Steem Power
No matter how much Steem or SBD you have in your wallet, it will not have any effect on the value of your upvote. The value of your upvote is determined by your stake in the platform, for which you have to power up (convert Steem to Steem Power or earn SP from author/curation rewards).
Value of Upvote Depends on Voting Power
If you have not voted for a single time, you have 100 % voting power left. With each full vote (100 % vote), your voting power reduces by 2 %. It means if you give 10 full votes per day, your end balance would be 80 % voting power. But at 80 % VP, the value of your upvote in terms of $ would also be 80 % of what it was when you had 100 % VP.
Note:- Voting Power keeps regenerating and it will go from 0 % to 100 % in 5 complete days (if not consumed through voting). So, as you vote the VP goes down but at the same time your VP also regenerates daily (20 % per day) so there's nothing to worry about unless you are voting too many times.
Use SteemNow.com to See Your and Others' Vote Value & VP
SteemNow is a wonderful tool designed by @penguinpablo. I primarily used it to know my Reputation score but it is very useful for viewing yours and others' voting power and vote value. Here's my screenshot at the moment. I had delegated 100 SP to @minnowbooster to see what I gain but undelegated yesterday and will have it back in 6 days. My SP and vote value will increase accordingly.
Relation Between Reward System and Reputation Score
This is extremely important to know. Your reputation score tells you and others where you stand on Steemit. It is a good indicator of how hard you have worked, how much success you got and how much you have earned.
Your reputation score increases only when you receive an upvote having some value the increase in the reputation, which happens immediately, is directly proportional to the value of the upvote your post or comment receives.
Also know that going from number n to n+1 (i.e 35 to 36 for example) is more difficult than going from n-1 to n (34 to 36). To the point that going from 56 to 57 was more difficult for me to than going from 25 to 49 (which happened in less than a week for me).
How is Your Account Value in USD Calculated?
If you look at your wallet, there's an amount called Estimated Account Value. It is calculated based on what you own in the wallet. Whatever amount of Steem, SP and SBD you have in the account adds towards the total value. However, SP delegated to you or delegated by you is not added or subtracted.
The value is not based on current price of Steem and SBD but the average price of last 7 days. So, the actual value of your holdings can be more or less than what is shown.
Things You Can Do with Steemit Rewards
I compiled a list of 9 things you can do with Steemit rewards. People found it useful when I published it and I am sure you will find it useful too. I have since gained more insight and will publish an updated version of the things that can be done with Steemit rewards.
Steemit Rewards FAQ
I am including the Rewards FAQ post by @dragosroua, who simply answered the most frequently asked questions. Newbies should definitely read it up.
Where Do The 25 % Inflation Tokens Go?
We know that 75 % of inflation tokens come to reward pool. But where do the other 25 % go? Let's see.
15 % tokens (of the remaining 25 %) are distributed to SP holders as an incentive to hold Steem in form of SP, which keeps the Steem supply limited and helps keep the token price up (demand and supply dynamics).
10 % tokens are distributed among Witnesses (people chosen by Steemians' vote to produce blocks of Steem blockchain, process Steem data and make important decisions pertaining to the blockchain).