Find&Reward: How and When

in findandreward •  2 years ago

Hello everyone,
this is the continuation of my First Find&Reward post.

First of all, I would like to thanks all those people who commented and participated in the above post, helping me find some great works!

As far as this post, I am going to give some more info about How and When I will try to reward Steem's Contributors redirecting part of my witness pay.


How does it work

There are a couple of things that you need to know to understand the limits I face to decide the timing and the amount of the rewards.

  1. How witnesses are rewarded for blocks signing and validation:
    • Rewards get distributed as Steem Power (non-liquid token)
  2. How the unvesting process works:
    To be able to make the distribution, I need to Power Down my Steem Power (unvesting/withdrawing vests), with the following limits:
    • The unvesting is a weekly process
    • There is a limit on the weekly amount that you will be able to withdraw, depending on your total SP balance

All of this means I am not totally free on deciding the amount nor time for the distribution:

  • I can not directly transfer and distribute my earnings, but instead, I have to go through the process of unvesting my funds first
  • For the very nature of this process, I can not distribute new rewards faster than once a week
  • Currently, the max weekly amount that I can withdraw should be around 900 Steem

Unvesting: Started!

On August the 9th I started unvesting my funds.
On August the 16th and 23rd, the first two withdrawal took place, and several hundred Steem are now available for the distribution.

Next week I should be able to award the prizes to the first Steem's Contributors!


Notes

  1. If I continue to stay an active witness, my total balance will keep growing, and so will the weekly amount available for withdrawal
  2. The one-week timeframe for new distributions is just a lower limit. I may not be able to withdraw or distribute the rewards weekly, for both personal or technical reasons​
  3. I reserve the right to stop any rewards activity at any time for any reason

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hey @bhuz, I have seen you in openledger too. so i might have some ideas about your contribution, but i think if you introduce yourself a bit better, it might help steemit users create a better idea of u as a person :)

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Hi thebluepanda,
Thank you for your suggestion.

Anyway, as far as these posts, I am just trying to collect some help and feedback about this Find&Reward idea.

Steem users don't really need to know or trust me at all, I am managing my own earned funds for this little project.

A vote for these posts is a vote to Find&Reward. It's a way to let me know that it is welcomed, considered useful and positive. It shouldn't be a vote for me, whoever I am.

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now that you replied you don't need to tell who you are :) sometimes it feels like you are a bot that's why. Anyhow, I vouch for you as a witness (did it after I read your contribution to steemit in your previous posts)

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Thank you for your support!

It's nice for an Old Dog like me to get a better understanding as to how things work behind the scenes.

Hi! If you are interested in helping the multilingual development, we have a growing group of people in the chat. You find many in the comments of this article:
https://steemit.com/steemit/@webosfritos/on-how-to-solve-the-unfair-multilingual-whale-problem

@bhuz: I read both posts, but don't completely understand. Are you cashing out steem and sending it to your favorite contributors instead of simply voting on their posts?

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Hi firebat,
When I speak about Contributors in these posts, I mainly refer to developers. This means:

  • There may be not a post to reward them at all
  • The post may be undervalued and so the author's reward from it
  • I am not a whale so I am not able to reward enough the work of a developer with just an upvote

Plus, the idea is to reward those who are not rewarded by the system itself, for any reason it may be.


The meaning I give to "cashing out" is "sell for usd" (or btc)...
I am not cashing out steem.
I am not selling steem either.

I am simply powering down my own Steem Power (non liquid token) to receive Steem (liquid token) and be able to transfer them.
(Once I have Steem I actually can distribute them both as Steem or Steem Power, preventing any immediate sell of the reward and encouraging a long time participation into steem/steemit)

hey ,how can i get more earnings?