Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

VP Management

A little more than a week ago, we had a very substantial delegation that we had leased through the MB market withdrawn from us. Rather than immediately bid an expensive APR to replace it, we gradually raised our bids, trying to feel out the market and find a replacement that would not be too expensive.

We do have several lease orders on the market for substantial amounts, and we have started to see some of those lease orders get filled.

Fully replacing the lost SP has taken longer than we expected, and it has negatively impacted our total VP, which is now at a 17% weighted average across all accounts. We have disabled our self-vote on our regular updates.

Since we store member balances in rshares, this has not had much impact on upvote values for most members. Members at high upvote subscription levels are simply receiving 100% upvotes from multiple accounts instead of receiving a slightly lower upvote from the main account. It does limit the maximum upvote we can currently deliver on a single post, which may impact a very small number of accounts.

If our weighted average VP drops below 10%, we will temporarily reduce our upvoting rewards multiplier from 1.34x to 1.1x. That will keep it level with our competition, and would reduce our short-term dependence on leased delegation. Since we providing adequate incentives to help us build a sustainable SP base is important to our long-term sustainability, we would raise the upvote multiplier back to 1.34x once our VP climbs back above 80%

Upvotes by Voting Account

As each upvote is delivered by our automated system, it selects the highest VP account that can deliver the full scheduled upvote value. If the full vote cannot be delivered by a single account, the post may be upvoted by several accounts.
We are working toward creating a smooth SP curve between accounts that will eventually result in most accounts always getting their upvotes from the same 2 or 3 accounts.

(@steemsql data visualized in Power BI by @josephsavage)

This shows the total number of upvotes (without respect to size) delivered in the last week. The biggest boxes belong to members that have a high enough SBI subscription level to get regular upvotes that exceed the minimum threshold.

A more common way to look at voting distribution is by vote weight. This is more meaningful when reviewed by voting account. We have started publishing regular upvote history for each voting account, and the regular report for @steembasicincome is published by @sbi-booster.

Enrollment

If you want to get involved in Steem Basic Income, or to increase the level of basic income that you receive, enrollment is pretty straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian (excluding yourself), it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and let us know if you have any questions.
https://steemit.com/basicincome/@steembasicincome/steem-basic-income-new-transaction-memo-guidelines

The official currency for enrollment is STEEM. We accept SBD at our discretion but you do not receive extra value or any partial refund for paying in SBD instead of STEEM. If we choose to accept an SBD enrollment, we accept the entire amount. If we choose to reject it, we refund the entire amount and request you to send STEEM instead.

Enrollments are processed automatically every 144 minutes. Confirmation transactions are manual and typically are sent within 2-3 days. Even if you have not received a welcome transaction, you can check your status using !sbi status.

Questions?

Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.

Helpful Reading	📖
A Complete Overview	Frequently Asked Questions
Managing Voting Power	Pulling Back the Screen
Steem Basic Income, rShares, and Automation	New SBI Member Lookup Tool
Vote Values in Steem Basic Income - Part One: Blockchain	Vote Values in Steem Basic Income - Part Two: The Way We Were
Vote Values in Steem Basic Income - Part Three: Where Are We Going?	SBI 1.0 - Initial Automation Release
Vote Values in Steem Basic Income: Part Four - Value Balances and Upvote Delivery	SBI - Responsible Voting and Following
SBI - Check out Our Discord	SBI - Refund Policy Redux

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Foreign Language Resources	📖
[VN] Phân tích rủi ro và ước lượng xác suất cho SBI.	[Traduction] Steem Basic Income - FAQ
[PT] Steem Basic Income - Questões Frequentes	Steem基本收入 (Steem Basic Income) - 常见问题 FAQ
Filipino Translation: Steem Basic Income - Frequently Asked Questions	Filipino Translation: Steem Basic Income - A Complete Overview
Indonesia translation: Steem Basic Income - Frequently Asked Questions	Co je nového u Steem Basic Income? - #cesky

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