S4B-contest: My Favourite Club Status.

Greetings to @solaymann and other members and friends of this community. It is a pleasure to share my understanding with the community on what club status is, and also reveal to you what my favorite is. Remain blessed as you read through.

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What do you know about Club Status?

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Club status is an initiative that was introduced by the steemit team in October 2021. This initiative came on board due to the instability in the crypto market. As of that time, it was realized that steem price was experiencing depreciation due to the instability. As such, club status was introduced.

The basic objective of the initiative is to enable all steemian to save either all or a certain percentage of their reward on the platform in the form of liquid steem. By so doing, the circulation of steem in the crypto market will be reduced to a minimum and the demand will be high. And the higher the demand, the higher the price. With that, steem coin will maintain its value in the crypto market.

Clubs in steemit and how they function
The club status initiative led to the introduction of 3 clubs. They are:

1. Club5050
2. Club75
3. Club100

In club5050, the user is expected to save 50% of all his rewards in a month. For instance, if you make 100 steem in a month, you are expected to power up 50 steem and move out 50 steem.

In club75, the user is expected to save 75% of all his rewards within 2 months. For instance, if you make 100 steem in a month, you are expected to power up at least 75 steem and move out 25 steem.

In Club 100, you are expected to power up all your rewards without moving out any steem. For you to be in club100, you need to power up all rewards for 3 months.

NB: club5050 and club75 are made for those who depend on steem for financial support. As it is not everybody that is financially stable to be able to buy data, and other minor things from what they earn from their work. As such, they need steem to be able to settle some debts.

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Which is your favorite club? Why did you choose this club?

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Although I'm currently in Club 5050, my favorite club has always been Club 100. From January to September, I have maintained club100. Unfortunately, I got stuck at some point, and I needed money to sort things out. I tried other means to raise money, but all my effort was fruitless. As such, I was left with no option but to move down to the club5050.

I prefer the club100 to other clubs because,

1. It enables me to save more on the platform.
2. It helps more in maintaining the financial stability of steem.
3. It contributes more is building steem power in the platform.
4. It gives more assurance of financial freedom in the future

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Do you think you should join any club for steem development?

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Joining one of the clubs has become compulsory on the platform because, you won't be eligible for any reward if you aren't in any of the club. Apart from the the fact that being a member of a club is mandatory, I think there is a need for someone to make savings on the platform. By so doing, you are making future savings for yourself, and you are also contributing to the growth of the platform.

As earlier mentioned, if we power up liquid steem, the circulation of steem won't be much. As such, the price of steem will gain more value. With that, we can have assurance of cashing out much in the future.

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How important are power-ups to increasing your abilities?

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Steem power-up is very crucial in the steem business. We all know that curation rewards if gotten from the steem power. The more steem power you have, the more curation reward you get. This has been one of the things that drives me in steemit. I want to have more steem power. With that, my curation reward will be much.

I invite @yakspeace, @ophinebabe, and @ruthjoe to participate.