I have some questions about the reward pool that I could really use an answer to when trying to explain STEEM to others.
I had a conversation with a witness about it a couple of days ago but it’s still not 100% clear to me.
First my own assumption about the reward pool
I think that the reward pool is a fixed amount of newly created STEEM being rewarded each week to the platform. It's distributed according to vote weight.
75% goes to rewards (content creation and curation)
10% goes to witnesses
15% goes to interest on all existing Steem Power
If the inflation of STEEM is 10% of 250 million total STEEM out there. That means 25 million STEEM is created each year. 25 million / 52 weeks = around 500.000 STEEM is the reward pool each week.
I don’t know if this is true, it’s what I think.
According to the reward pool counter on Steemspeak the reward pool at the moment is filled with 1.3 million STEEM.
So, this doesn’t match with my previous assumption.
There is simply too much STEEM in a 500.000 (fixed) reward pool. So, the pool must be a lot bigger. But how big?
What is it?
How much STEEM can there be in the reward pool? Can it actually be full?
How much STEEM leaves the reward pool each week? Is the reward pool a flexible thing were sometimes (for example) 100.000 STEEM is rewarded in a week and sometimes 500.000 STEEM. Are there rules for this?
As an investor and a user, I feel like I should know these things, but I have to admit that I don't.
Any insight would be highly appreciated.
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