Introducing IncinBoost!

in incinboost •  2 months ago

Intro

When looking at the countless amount of steem that you have spent on bidbots, subscriptions and etc in order to gain 1 or a handful of upvotes, did you ever think “how can I pay once and just have a free flowing amount of upvotes coming to me, forever”? The idea that one can basically invest a set amount of steem, and receive a daily “dividend” is pretty cool (keeping in mind you cannot sell shares!!).

IncinBoost_stuff.png

How Does IncinBoost Function

It’s rather simple, 1 share is equivalent to 1 steem except that when buying a share you have to sponsor someone. Once the share has been bought, we quickly run a function that’ll shoot out the % that we upvote you at, and that goes straight into Steemauto. The upvote value that you receive will be calculated on a per day basis, and you will be able to receive 1 upvote each day.

Minimum Shares Needed

In order to be a member of incinboost you must have atleast 5 shares. If someone gets sponsored with only 1 share, we will hold that until they have reached 5 shares before any upvotes start. Why do we do this? In order to make sure all our vp is used we need to make sure that the 30 members have enough shares in order to use it all up. If one has 100 shares while the rest have 29, that makes it extremely unbalanced and can really hurt the bot overall.

Vote Value at Current

1 share will be approximately $.0028 per day, or about $.02 a week. This will change as steem price changes as the % is tied to only our sp amount and not the steem value.

How to Get a Share

There are 3 main ways that one can obtain a share:

  1. Send 1 steem to @incinboost (If it’s your first share, you need to send 5 steem).
    This will allow you to also sponsor someone in the memo, and get both of you 5 shares each.

  2. Be sponsored
    Are you a little low on steem? Get one if your friends to hook you up with a share via sponsorships!

  3. Delegate
    We are accepting delegations in exchange for shares. It will be 15 sp per share that you have.

Softcap On Members

I have decided to add a cap on the amount of members for month 1, capping it at 50 members. Every month that follows, we will be adding 20 new spots for anyone to fill before it closes again.

Competition

While looking at our competition, the main one was by far steembasicincome. We had to make sure that our bot could run more profitable than it, less time consuming and have quality customer service. When you look at steembasicincome, currently 1 share is worth $.0109 per week. In order to beat this, we have doubled the per share value to $.02 a week. Now looking back to our softcap, this helps answer how we take less time to get your shares added as well as how we can have better quality service. Firstly, by having the softcap we will only be looking at about 50 Members this first month. Compare that to steembasicincome who gets over 100 new transactions each day that they have to account for, we clearly have less work to do. This allows us to get you added within 1 day, with the likelihood being an hour or two. Secondly, we can offer better quality service with the soft cap as we can go back and upvote missed posts, as well as engage with the community much easier.

Sustainability

The bot will have many methods in order to sustain itself, some of which include:

  1. Curation rewards
    With the use of leases, we are able to pay a lot less than powering up the steem and are then able to accumulate curation rewards from the upvotes much faster.

  2. Self Votes
    We plan to do a post once a day that highlights how many members we have, total shares that have been bought, current sp, and etc. these posts will come in handy when it comes to gaining some author rewards and getting the side profit off of that.

  3. Manual
    Due to the softcap we are able to do all the enrollment work done manually, with only steemauto being the automated aspect. However as steemauto is free, that isn’t much of a problem either. We will be able to save immensely when it comes to server costs, as well as paying a developer to make the bot, and can use that to scale a lot quicker.

  4. “Softcap”
    Why after the first month we open it to 20 members each? This allows us to keep gaining a small bit of capital while still keeping it easy to be run manually.

Join our discord server at: https://discord.gg/zeSfv7e

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We only upvote one post a day.

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I see. So two one day and none for the next won't work?

I am in US CST. When does your "day" start?

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I believe they use Steem Auto, which is on blockchain time (UST)

You got voted by @votefun thanks to CryptoWithIncin. To support development, check out @rishi556. Hosted on the @cryptowithincin discord.

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Thanks a lot! We hope to step up the game when it comes to life long upvotes!

Interesting .... I will be keeping an eye on. Using both SBI and this is a good Idea. The more votes from different services the better.

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Awesome, glad to have you on board! Just remember each share you get from us is 2x that of sbi 😉

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Hello, @rentmoney,
I want to make a mutual sponsorship. You sponsor me and I will sponsor you. How do you think? It will double our shares.

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Sure I will do that.

Question to @incinboost. A member needs 5 shares before getting upvotes and you also state that you will be accepting 30 members only this month so what happens if a new member signs up but has only 1 or 2 shares ? Does their 1 / 2 shares count as a place holder and then only 29 spots are left ?

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Yep that is correct. They will just be on the side until they have reached 5 shares and then will be activated. In the mean time the spot is still open. Also about the 30 people soft cap; we plan on raising that to 50 in today’s post. We weren’t expecting such a huge response like the one we got😃

It's interesting to see new initiatives, especially one which is in direct competition against SBI.

I have 2 questions. First, u guys accept SP delegation in return for shares. Do my shares immediately get revoked after I undelegate?

Next, SBI has the concept of different pools. Since you set your initial soft cap of members to 30. Do you guys plan to have pools of 30 members each in the future? If not then how will your membership mechanism work if you intend to grow beyond 30 members. Thanks!

Posted using Partiko Android

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Thanks for checking us out! Let me help andwe your questions as best as u can.

Firstly, unfortunately your shares will get revoked righ after you undelegate as we now don’t have the sp in our account.
Secondly, we plan as of now to only have 1 pool (this account), until we have surpassed 100 members. Remember that the softcap is only for this month, and each month after we plan to add 5 more openings for others to join. We want to make this a lot less painful than the wait that sbi has, hence the reason for a limit on members. Lastly, we aren’t looking to scale insanely high right off the bat, but plan to take it slowly to ensure that incinboost is a success.

Hope that helped!

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Thanks! A couple more questions, so if I choose to delegate SP instead, I supposed I won't be able to sponsor someone? Finally, where do I check how many members are there at any point in time?

Posted using Partiko Android

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When it comes to delegating, you are not able to sponsor anybody so it’s more of a “bonus” that’s added to normal shares. For members, we plan to have a public spreadsheet for people to look at soon, but we will also be posting daily about all he bots details (including members, total shares, sp and etc).

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Ok thanks for the info!

Posted using Partiko Android

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Ya np! Hope you join for a lifetime of boosting 😃

If I could do 5 sponsored accounts for the 5 Steem, I'd do it in a heart beat.
Looks like you are saying you are doubling the return "per Steem invested" versus SBI? So for 5 steem one basically gets 10x the return that 1 Steem gets from SBI?
I have some prizes I am awarding in SBI at the boot camp, but I'd rather get a better return from @INCINBOOST!

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I wish that was the case haha. Basically 1 share in incinboost is equivalent to 2 shares of sbi. So if you got 5 and sponsored them out, you would in theory have 10 sbi shares for yourself and each person you sponsor gets 2 shares. Secondly, one must have a minimum of 5 shares to get upvoted so that all the seats are fully used in our bot. So you might want to do a giveaway and award 1 person the sponsorship.

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Wait I read the last part that you mentioned incorrectly. Yes that is correct, 5 shares of incinboost is 10 Times what 1 share of sbi is.

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It's not that i don't like the idea but i do have multiple shares of steem basic income already. I know that you claim to have a better rate of return but they have a brand and reputation as well as a very strong community behind them.

If you are going to come second to the party then you really need to have something better to compete. Have you the numbers to back up the claims? A solid layout that we can all see exactly where the profits will happen?

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Hey, yep as we are coming in after sbi we do have to have something that makes us stand out. I believe the key things that make us stand out is firstly our profitability vs sbi and secondly the fact that we are per day rather than per week. When it comes to numbers I can run some right here with you. Currently we have 1050 sp, and can give out 204 shares before we reach a cap vp wise. This is not accounting for people who don’t post each day, and with that we can look a lot closer to 240 shares. This will get us 120 steem, while I am currently paying 18.1 steem per month. This will net us 6 month and about 20 days just worth of leases. During this time we expect to get about .3-.4 sp in curation per day, which will net us about 80 sp. then you have to take into account self upvotes as well as we plan on using votefun to help with sustaining. Overall, without the need of a developer or a server we are able to completely get rid of any costs that sbi would have to which allows us rock give a much higher profitability.

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See, I think that you should have led with that. Thanks for getting back with such a detailed reply. Having a proper look at the math gives me a lot more interest in getting involved with the project.

This will get us 120 steem, while I am currently paying 18.1 steem per month. This will net us 6 month and about 20 days just worth of leases. During this time we expect to get about .3-.4 sp in curation per day.

Since this is a start up anybody joining will be taking a chance that you will continue to deliver on this over a long period of time but the idea does sound good. I think that i will take the chance and see how it pans out.

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Sorry about that, the plan was to write up a more detailed one later but I see your point. Also glad to see you are going to try us out!

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No worries. It's your project you can do what you like. It was just that there was no real info on your profile at all since it was the first post and I just like to know what something is all about. I tend to look deeper into anything that interests me so research is always on the cards.

Posted using Partiko Android

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Well glad you checked us out, hopefully you get on board 😃

Congratulations @incinboost! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes
You made your First Comment
You got a First Reply

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

@incinboost Taram-pam-pam

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rimshot ;)

Can you please elaborate more on your sustainability plan?

Curation income amounts to only 5-8% per year. Self-voting a post each day will give you 10%. Steem Basic Income gets a few % more because of differentials between the delegation prices paid and the return offered per share. The additional value to reach 40% base ROI comes from reassigning voting value from inactive to active members, but you will not have inactive members at launch.

It looks like your program treats any member that does not post at least daily as inactive and reassigns their voting value to other members in order to meet ROI.

If this is not correct, then can you please explain where you get your extra ROI from?

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Hey! Glad you stopped by! As for your question regarding our sustainability plan, I can answer that here. Firstly we plan to incorporate IncinBot(@cryptowithincin) on this scheme and will be sending upvotes from it to the bot. The end goal is to have a stable 50% upvote % by IncinBot on each post. Secondly, we plan to start start joining other upvote services that have a guaranteed roi as a way to increase liquid and sp that the post can payout. Current estimations have us at a 7% roi on the curation aspect and obviously 10% with self upvotes. Apart from this, we also have a benefit from those who delegate to us, as one is not able to sponsor someone any shares when delegating. Lastly what you said was correct. Unlike sbi, our upvote value is calculated per day and not week. Sbi on the other hand has a total value that it upvotes per week and that gets divided by the amount of posts each week. If one doesn’t post on a certain day with us, they will lose out on the vote value and that will end up being reassigned preemptively. Thanks to IncinBot we got to find out the likelihood that one is to post each day and we have used that data to account for how many extra shares we can have based on the total sp our bot has. Hope that cleared it up. There will be a much more detailed post coming out this weekend or next weekend to address sustainability specifically as many people have asked about it.

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the points and counter-points ...

  • for future reference.

I'm all signed up and sponsored @mmunited

Let me see if incantation find someone to do this together, we both contribute 2.5 steem. Each.

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Hi @botefarm, are you still looking for someone to split this with you. I'll go halves if you are keen. 2.5 each.

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Am in, just give me two days, thanks for been interested.

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All good, I have 2.5 ready when you are. Let me know. @incinboost, can we send 2.5 steem each to join? Or should one of us send all 5 and sponsor the other?

Posted using Partiko Android

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Am fully ready now.

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I have sent you 2.5 steem @botefarm, so you can sponsor us in.

Posted using Partiko Android

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Done mate. Thanks and nice doing business with you.

Proof of payment.

IMG_20180918_172013_091.jpg

Interesting competition to SBI. Do you have a value proposition to suit people who post less often? I believe SBI adjusts the vote value in intervals to support less frequent voters.

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Yup that is correct, sbi calculates the share value per week and divides that by how many posts you make per week. We unfortunately cannot and do not compensate for missed days, however as long as you post 3-4x a week we are still the same if not better than sbi profitability wise. If you post each day, you are looking at double the profits. Hope that helped 😃