Hey guys! Recently @lrd, the Burning Bid Bot announced that they will be sponsoring @crypto.charity with 10% of their weekly curation rewards from the bot! This week, @crypto.charity received 1.45 Steem from @lrd.

@safedeposit purchased 1200 tickets (worth 12 Steem) in our last raffle so I have agreed to help write an introduction to his bid bot, which burns a portion of curation rewards and donates another portion @crypto.charity! The exact payout structure is below!

Table of Contents

• Payout Structure to Delegators
• Current SP and Bidding info of @lrd
• Charity Sponsorhip
• Burning of Steem
• Benefits of Burning Steem
• List of current @crypto.charity sponsors

Payout Struction for @lrd

• 100% earnings go to delegators
• 45% of curation rewards go to delegators
• 10% of curation rewards go to @crypto.charity
• 5% of curation rewards go to @null
• 40% of curation rewards are charged as a fee for maintaining and upgrading the Bid-Bot

@lrd is the only bot I know off that not only shares all earnings but also curation rewards!

Current SP and Bidding Info

@lrd currently has around 57,000 SP, with a minimum return of 1% and no cap on the maximum return for bidders.

Charity Sponsorship

We are very happy that @lrd is sponsoring @crypto.charity, as this means we have a stable source of at least 1 Steem in donations each week, which would increase if more people delegated to @lrd!

Burning of Steem

@lrd burns 5% of their curation rewards in Steem. This means they are lowering the supply of Steem, thus increasing the scarcity and price of Steem. They have burnt over 15 Steem so far, which may not seem like a lot but over time it will add up. Plus, if @lrd are able to grow, they will be able to burn much more Steem

Benefits of Burning Steem

As I mentioned already, this will lower the supply of Steem thus increase scarcity and price, but it may have a larger impact than you think!

Due to how Steem is produced, burning 1 Steem today will mean 1.09 Steem burnt in a year, and 1.47 Steem burnt in 5 years. This is because Steem's inflation rate is around 9%, reducing by 0.5% each year. The inflation rate is accurate, but how burning Steem affects the inflation rate is what I and others I've asked assume, but I do not have official confirmation that this is true.

List of current @crypto.charity sponsors

• @jk6276: set @crypto.charity as a beneficiary, probably our biggest sponsor so far in terms of predicted stable contributions!
• @lrd: weekly curation rewards, worth around 1.5 Steem weekly, likely to grow as @lrd grows!
• @crypto.piotr: a friend of mine who closely follows the activity of @crypto.charity, donates liquid Steem and SBD!
• I would also like to thank all those who contributed in the raffle! We raised close to 40 Steem with your help :)