Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

We first posted our distribution chart two weeks ago, and here we go again! The labeling is poor, and 454 votes means 454 accounts that received votes. There are a number of inactives in Pool 1 , or it would actually be 500. We are moving inactive members down into Pool 2 after 60 days of inactivity (down from 90 to help us better manage our voting power). The actual number of votes is much higher!

img source: http://www.steemreports.com/outgoing-votes-info/?account=steembasicincome&days=7

Last week we had a 15.3% self-vote. As we moved members into pool 2 to keep them from becoming paused in pool 1, it messed up the ratio of active to inactive members in pool 1. We have made some adjustments to how we move between pools to steady this out. In the meantime, we did extra self-votes to keep voting power from being wasted. As the pool stabilizes and our voting power establishes an equilibriu, this should drop back toward 10%. The rest is in line with expectations.

And the same for pool 2 upvotes (pool 2 upvotes come from @sbi2!)

@sneakyninja's portion dropped to 11.2% of the @sbi2 voting power, even with 25.9% of the pool 2 shares! Everybody else in pool 2 is getting more voting weight because @sneakyninja isn't posting enough to use the full allotment it should be receiving. @sneakyninja has a daily curation journal called The Daily Sneak that features a wide variety of posts. Guest curators get paid in SBD and featured authors get resteemed and sponsored for shares in @steembasicincome. Stop by and check it out! This balances out a lot of the difference in effective SP per share that exists between pool 1 and pool 2.

We are still looking for that equilibrium point that prevents wasted voting power in pool 2, and are using upvotes on @steembasicincome to prevent wasted voting power. As the membership in pool 2 grows, this will become less necessary. As predicted the voting weight going to @steembasicincome decreased from 17.1% last week to 16.3% this week. We anticipate that it will continue to drop as the membership of pool 2 grows and @sneakyninja's relative share decreases.

We do have a few members that should be paused, even in pool 2, because their voting weight has dropped below 0.50%. Since we haven't reached voting power equilibrium yet, we are forcing their rounding up to 1 instead of down to 0. As soon as we have enough, we will kick off pool 3, even though pool 2 isn't full yet.

Delegation Bonus Shares

Existing members can receive bonus shares by delegation. For every 25 SP delegated to @steembasicincome, members will receive 1 bonus share. Currently each share receives a weekly voting weight of roughly 3.52% in pool 1 or 15.59% in pool 2.

These bonus shares are counted before the bonus from upvoting @steembasicincome. So if you have 1 share, received 4 bonus shares from delegation of 100 SP, and then upvoted @steembasicincome regularly, you could potentially receive upvote weight equivalent to 10 shares instead of only 1!

Any Steemian that is already enrolled in @steembasicincome can delegate as much as they would like, to receive bonus shares. The approximate APR for this delegation is now 26%. That's a 26% annual return to boost everybody's basic income. I don't think it gets much better than that!

Here are some Handy Delegation links:

100	200	300	400	500

Enrollment

Sounds intriguing... How do I sign up?

Send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the comments. You and the person you sponsor will each receive 1 share in the program.

Questions?

We broke down the mechanics for how the program works in the complete overview. If you have any questions, ask away in the comments section!