What Is The rSteem Community Buyback Pool?
(100% of this post's final SBD reward will be added to the community buyback pool to purchase rSteem on the open market.)
Current Total (11-1-17) - rSteem Buyback Pool : 0 SBD
What Is The Community Buyback Pool?
While many tokenized currencies are often distributed with the expectation that the community will provide inherent value, this often proves to be a lost cause leading to a junk token. In stark contrast to this, rSteem is designed to provide a base level of demand by using the Steemit platform as a catalyst for demand creation. The value of distributed rSteem lies in the ongoing ability for the community to fund its value. As such, I plan to utilize the value of upvoted posts in order to create a consistent driver of demand. In time, a true market value for the currency should emerge on its own and demand for the currency itself apart from this base support level should emerge.
All devoted posts to rSteem (including this one) will serve as a means of collecting community-backed rewards. It serves in the best interest of rSteem holders to upvote these posts in order further accumulate value within the buyback pool. Nevertheless, rest assured that I will always upvote my own posts in order maintain a mimimum level of contribution to the aggregated fund.
It is my intention to keep an ongoing tally of the community buyback pool total in every new rSteem post. When this pool approaches 50 SBD (some subjectivity allowed), it is my intention to utilize the funds to buyback rSteem on the Waves DEX. The accumulated SBD will first be sold on an intermediary exchange like Bittrex and subsequently converted into Waves. Therefore, there will inevitably be some overhead found in exchange and transaction costs. However, by and large this fund is intended to directly benefit all those involved while enabling increased participation on the Steemit platform.
