Laying Out The Plan

in minnowbuilder •  last year  (edited)

@minnowbuilder is getting ready to launch within the next week. To give everyone a few days to review the concept and make plans we are going to lay out the concept now. There will be detailed posts coming so keep in mind this is an overview. Watch closely over the next couple days for full details.


The Problem

Getting started on Steemit is hard and those who are committed to producing quality content and building their accounts can use a helping hand. Helping build those minnows takes a commitment of resources including money and time...probably most importantly time.

While many of us would love to have a way to help new steemians to grow to a point of having a vested interest in steemit and help grow a real middle class individually we don't have the resources to make this happen.

At the same time we all are trying to find ways to build out accounts and increase rewards on our posts. Many of us sacrifice some of our growth to help others but by doing so we are hurting our future abilities to help in more meaningful ways.


@minnowbuilder Solution

@minnowbuilder once launched will allow you to not only support manually curated steemians in their growth towards becoming a minnow, but also actually benefit your account at the same time.

@minnowbuilder will allow you to purchase shares or delegated steempower for shares of the @minnowbuilder's daily vote. Each share will allow you to get a single daily upvote from the account and at the same time fund daily upvotes for sponsored steemians in the @minnowbuilder program. The daily upvote will be worth more then if you used the steempower and self voted and is funding the growth of deserving hand picked/curated steemians.

Shares purchased with steem will also have the added benefit of growing in value along with the account. This value growth is owned by those who own shares. Keeping it simple, if there are 1000 shares and there is 1250sp in the account each share will have a value of 1.25 steem no matter what the purchase price was.

2 voting pools

The account will be split into 2 voting pools each with its own calculations for the percentage of upvote. Both pools will be 50% of the account.

The first pool is for those who own share in @minnowbuilder. This voting pool will have equivalent of 500% of total voting power, that is 5 upvotes at 100% power. Votes will be split among the share owners on a daily basis.

The second pool is for those who have been chosen to be in the @minnowbuilder program. The goal of the program will be to Build Minnows, take smaller steemians up to 500sp. This voting pool will also have equivalent of 500% of total voting power, that is 5 upvotes at 100% power. Votes will be split among the share owners on a daily basis. The second pool will be made of steemians who have proven their ability to create original content, show their commitment to growing their accounts, and appear to be legit accounts. As this is part of the @pifc Pay It Forward movement many (if not all) of those selected will come from the efforts of the @pifc community.

Cost per share

Each share of @minnowbuilder will be 1 Steem when the program starts or 2 SteemPower of Delegation.

The cost of a share will increase over time as the account grows giving built in value to those who purchase shares early. This also means that upvote values will increase over time as the incoming steem is used to power up the account, not to lease SP. Feel this is critical long term for guaranteed sustainability.

For the first 2 rounds of share sales, or 1000 share maximum the price per share will stay fixed at 1 steem or 2sp delegated. After this time the price will be recalculated to match the value of current shares.

Using the previous example:

Keeping it simple, if there are 1000 shares and there is 1250sp in the account each share will have a value of 1.25 steem no matter what the purchase price was.

If we start up round three with each share being worth 1.25 steem then that will become the new price and it will take 2.5sp delegated per share.

By doing this each future sale keeps the account value and vote value even for previous share owners. At no time will future sales decrease the value of previous owners accounts.

Share Sale Rounds

Unlike some programs out there we will have limited buying time frames which will start and end based on a post announcing the Share Sale. The first 2 rounds will have a fixed price and from there prices will increase.

The idea will be to sell 1000 shares of @minnowbuilder and then move onto the level 2 account. There are 6 total accounts which will be used for this program. More details on this to follow as this post is already getting long.

Value to shareholders

Value will be created multiple ways. First each shareholder will get their proportionate share of the upvote pool for the day. So daily upvotes based on your ownership. These votes will be more valuable then if you were to self vote your own posts. The full math will come later, but know that a collective voting account like this has much more value then self voting.

Rewards used to power up. At the very least 50% of the rewards will be powered up at all times. Some rewards will be held in case someone wants to sell their shares, but that steem is still owned by the shareholders. Authors may be rewarded for their time for posting to the account and this reward would come from liquid payout from posts down the road.

Account has SBI shares and Upvote Share owned which will provide it's posts with added rewards to power up.

Account already has SP and Steem sitting in there along with pending rewards to come. For the first 2 rounds of share sales this is a Bonus to those who join early. Future share sales will have to pay a higher price.

Full Disclosure

This program is being run by @thedarkhorse and @andrewharland.

As with any project of this scope there will be needs for funds for ongoing operations and to reward those who put in time. To accomplish this there will be a 10% management fee built into all share purchased. The fee will be in the form of management shares.

At the start we will use all of the management shares to help boost the next account levels so there is added value to them. Over time we will use these shares for different purposes including future growth plans...we aren't stopping with minnows ;) …. and to reward ourselves at some point for the countless hours that have been put in and will be put in making this program a success.

Complete Package

The @minnowbuilder program offers a complete package that allow you to help the community build up a real middle class, grow your account with daily upvotes which will grow over time, and ownership of your shares with the ability to withdraw them including account growth.

If you have questions feel free to ask. It will help with the writing of the next posts this week which will be designed to completely lay out the program.

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Good luck paying it forward @minnowbuilder, I have delegated some SP to get things rolling. Cheers!

Looking forward to the launch! This one is especially exciting for me as I always want to help more, but am always running behind schedule and short on sp. This may offer an extra way to contribute while growing sp at the same time.
Love the idea can't beat a win/win like this.

You will also be eligible to be part of the community side of this program and receive large upvotes. There will be some talk among the judges as to who will take part in the beta phase, but those who are active in the community will be the first we help. By helping them first we are empowering them to help others even more then they currently are.

Think this will make @pifc curation contest even more powerful as we add more minnows to our ranks of curators. It will add further value to being featured as our group visits posts.

Well I am not always as active lots of times it is due to low sp. I am still powering up at a decent rate and holding on to a portion of my steem.
I will have some available for this. But my delegation ends today so my voting will be down unless I lease some sp.
This is the first time since I have been here that I have had loose steem. I have been thinking a lot about using it to best advantage.
Also have been thinking on what would be the best support to pifc maybe sponsoring a prize.
Will read more and see this could be an opportunity to support and grow at the same time.
That said I am glad the launch is soon. I had planned on my delegation end date as a deadline for making decisions.
Will hold off a bit now. Thanks for the heads up.

this is a nice initiative and I hope I have enough steem to purchase some shares when it is available

Even 1 steem will get you into the program and a small vote each day. Something is better then nothing.

I certain will once sales begin.

  ·  last year (edited)

Whats the difference between this and SBI please ?

First off I own many SBI shares and like the program a lot and even bought shares for @minnowbuilder to have a different source of votes for this account which gives added value to the owners which they didn't pay for.

That said there are a couple differences that to me make this program better for the community and for the share holders.

For the community side feel it's better as this ties I with @pifc and the curation efforts of a great group of people. For 22 weeks now we have been out there hunting down quality content creators who deserve more attention and higher rewards. This eliminates the swapping of shares that happens way to often on SBI which removes all of the giving aspect of the program.

Now the part I think more people will care about even if I personally feel the charitable part is more

You own your share of MB if you send steem. This ownership allows you to be able to take part in all account growth from the day you purchase. Curation rewards and Author rewards will continue to add value to those who are owners of the shares. There will be a process for withdrawal, but it will be fairly simple just restricted to set times as to when it can be done.

As the account grows all shares will see an increased vote in terms of vests, can't control the dollar value. So if the price of steem stayed exactly the same for the next year you would know that your vote would be slightly increasing each and every week due to the earnings of the account.

@nathen007 hope that helps explain the differences. If you have questions please ask.

Thanks for taking the time to reply. Got it now cheers :-)

Glad to help.

You've got me intrigued! and definatley want to be part of the program. Thanks for developing this incentive.

Right now SBD is really strong compared to Steem in the market. Might be a good time to convert some and buy some minnowbuilder shares.

Thanks for the tip! I had just powered up my STEEM and was left with under 1 STEEM thinking I would earn more real quick but now I wish I had left more to buy more minnowbuilder shares. I will be buying with SP and will convert my SBD also.

You have a minor grammatical mistake in the following sentence:

The account will be split into 2 voting pools each with it's own calculations for the percentage of upvote.
It should be its own instead of it's own.

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Sounds awesome! I've already have 4 STEEM reserved for your program. I'll probably make it 5 by the end of the week... Keep up with the good work!

Thanks for the update.
Are the shares handled differently if a person purchases with Steem or delegates SP? Which avenue is the best financially?