Minnow Builder Program FAQ
Wanted to provide a simple quick overview of the Minnow Build program in one place. There are more detailed posts on the breakdowns elsewhere, but this will give the surface level of what we are about.
Mission
To create a Win-Win for those who want to help grow a real middle Minnow Class on Steemit while still growing their own accounts.
How to achieve the Mission?
We will Build Minnows by giving them a daily upvote with the support of the community who purchase shares in the MinnowBuilder program while still giving shareholder a nice vote in return for their support.
Each SP has 10x 100% upvotes per day. But pooling this voting power to a community voting program like MinnowBuilder we are able to use 50% of that power to support the Minnows in Training and 50% for the Shareholders. This means if you post daily it will be like getting five (5) 100% upvotes worth of power per SP you send to MinnowBuilder. You profit and Minnows are Built, Win-Win!
How votes work?
Everyone: We use SteemAuto for now and have every set for a max of 1 vote per day.
Shareholders: The voting percentage is based on the total percentage of shares in the minnowbuilder account you own. So if there are 1000 shares and you own 10 you will have a 1% daily upvote.
Minnows in Training: Currently the plan is to have 10 per minnowbuilder account each getting a 50% upvote (5 total votes worth of power...1/2). If they also own shares in the level they get 50% plus their owned shares.
Self Votes: To keep VP from hitting 100% we self vote our posts which in turn helps everyone based on your level of ownership. Once the account is active this posting will be weekly only. We will also vote posts within the MB network if there is spare power to help build up the power of accounts that haven't started yet.
How to purchase share?
To start each account the first shares are 1 steem. Future rounds are based on actual share value at the time of the sale which will always be higher then the starting price.
Value of my Shares?
To make sure nobody ever looses share value or vote value in future selling rounds the price per share is calculated on (Total Owned SP/Total Owned Shares). So if we have 550 owned SP and 500 shares the share price for the next round would be 1.1 steem per share.
What is the Steem Used for?
Powering up the account. 100% of the accounts steem power is either owned or from people who delegated to get shares. We are not leasing any SteemPower with your money as this leads to a situation that relies on new share sales to keep providing a vote. With our program the vests per vote will only increase over time as the account grows from Curation Rewards and Author rewards.
Is there any Transparency?
Yes, and here is a spreadsheet showing all share holders and what your vote percentages are. You will notice that the percentage you are getting many times is higher then the amount shown on the spreadsheet. This is because during BETA phase of this program we are playing with how to keep the voting percentage between 92-97% and avoid reaching 100% wasting power. Not everyone posts daily so by spreading out that unused voting power everyone in the program gains a little extra. But this can change at any minute and the spreadsheet shows your minimum vote percentage:
Who is behind Minnow Builder?
@thedarkhorse who also founded @pifc and @andrewharland who has been a very strong supporter of @pifc are the 2 brains behind the idea. @pifc judges are part of the selection process for who is selected to be Built into a Minnow. This is a true community effort to help build a Minnow Class.
I don't like getting upvotes, can I get out?
If you ever want to leave the MinnowBuilder program and sell your shares we will be happy to buy back the shares at the conclusion of our next selling round. There is a 10% transaction fee for withdrawals...sorry but we can't do this all for free it's a serious time commitment.
If we aren't at during a sale period contact thedarkhorse #6765 on discord and lets talk about it. We are saving some of the Steem earned from Author rewards to have a little bank to allow covering small withdrawals outside of the normal time slots, but this is 100% our choice and our decision is final.
Image Source: Pixabay
Very nice! I hope STEEM doesn't start climbing very soon, 'cause I'd sure like to get a few more shares! :-D
Monday will be the next sale and it will be for @minnowbuilder2. I am suggesting a minimum of 5 shares as a purchase to reduce the effect of the new vote tax of 50 vests per vote. I think we will need a minimum of 3 shares for steemauto to process the vote. They cut it off at a point which is higher then what the blockchain requires.
if you can DM me I will by a few shares to help out! I don't post every day, but I like to do a little to support if I can :)
I will make sure to send you a link to the post. And the wording for the wallet memo. Thanks for your support!
awesome, I'm looking for it.... jlmk :)
I haven't read the details yet of this blog @minnowbuilder but will do so as time allows. I also want to resteem it to get the word out. You are doing an amzing job. Steemit is blessed to have you.
Thank you very much for helping get the word out. From the looks of it this concept of helping build minnows while still earning more has had a lot of interest from people. Love that the community is willing to support the growth of smaller active members. Honestly feel that we need a LOT more minnows to keep steemit strong and growing long term.
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I like this concept, its very good... Its a sensible way to do it and people can add or subtract over time! Plus they help not only themselves, but also smaller players in the process. Awesome job @minnowbuilder and @thedarkhorse
Is it live right now?
Will be starting sales of @minnowbuilder2 in the morning (CST). Figure around 10 hours from now give or take based on how my day goes. @minnowbuilder round 1 is closed and we sold out over 1000 shares that we targeted. Fully expect to do the same for the first round of MB2 and then in a couple weeks we will start on MB3. Giving myself a week off between share sales rounds to make sure everything is running properly and also to allow people to build up some steem before the next sales round.
ok cool... I'll look for it! Good job @thedarkhorse! :D
I agree with @davemccoy. I want in on this round!! Good work as always.