SMT Burn Up: ICO Issues Complete! RC Delegation Pools Functional

in #smt5 years ago (edited)

SMT Burnup ICO RC.jpg

Progress

We are now 25 points ahead of schedule thanks to an incredibly productive week! This is in part due to the large amount of work that had been in review which was completed. In addition, some issues had been oversized. Sizing work is an art, not a science. We overestimated the time needed to complete some work, which resulted in a higher than normal velocity. As long as issues aren't being intentionally oversized this is great because it means we were able to complete a feature faster than we originally expected.

Screen Shot 2019-08-13 at 9.37.06 AM.png

Some work is probably under sized as well, which means we expect to have some weeks where it does not look like we got much done at all, when in reality we are productive. If that is the case, then the errors in sizing will come out in the wash and we will be on target for our estimated completion date. Even though we are currently ahead of schedule, we will keep the current estimated date of completion. The last thing we want to do is assume this increased velocity will continue and then miss completion of an earlier target.

ICO Issues: Complete!

We finished reviewing the ICO issues and were able to mark that portion of the SMT spec as complete! This is quite a large portion of the SMT work and accounts for a significant amount of architectural work required for the remaining SMT tasks. These were issues #2731, #2732, #2733, #2734, #2735, #2736, and #2767.

RC Delegation

We continued work on the RC Delegation Pools (#2697, #3103) and have a functioning version of the feature. The remaining work needed to be done is the ability to delegate RCs to an SMT directly to fund emission and market maker actions by the SMT.

Lastly, we completed issues #3379 and #3455 which added additional verification and testing of the SMT setup operation which was missing from the original implementation.

Scope Increase

We added 3 points of scope to the SMT MVP, issue #3455 when we realized the SMT extended destinations were not fully implemented or tested during the SMT setup.

Summary

Completed : 64
In Progress : 0
Scope Increase: 3
Net From Ideal: 25
Status: Good

Back On Track

We are now back on track with SMT development. Morale on the team is good and we are looking forward to finally completing SMTs.

Curious about SMT Burnup Methodology?

The Steemit Blockchain Team

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Glad to hear it, keep it up!

Excellent. Now please do an update of the ad revenue, costs and team size chart.

Can someone ELI5 on how do SMT's capture value for underlying STEEM token?

You need RC in order for your SMT to be able to do things. In order to get RC, you need to stake STEEM as SP.

There is more, but that's a shot at an ELI5. What do you think @furion?

Maybe also the RC delegation will enable you to earn SMTs as reward?

Resource Credits do not impact any ability to assign rewards, just transact on the blockchain. If it makes business sense for someone to use RCs and wants to pay in SMTs, then they are free to do so. But the blockchain will not use RCs as a way to earn SMT rewards.

Maybe , if there are SMT bid bots and im sure @booster and @postpromoter and @boomerang will be right there to take SMTs to upvote with SMts and youll delegate to them for passive SMT income, just like people do that now with SCOt token bid bots already listed on https://steembottracker.com

This is fantastic. Thanks heaps for the updates; its incredibly refreshing. RC delegation is poised to be a real game changer.

Well done!

Good to see the team is back ahead of of schedule. Let's start the campaign trail for 2020, MSM 2020! #makesteemmassive

moving forward and morale is good - nice!

RC Delegation is sorely needed; glad progress in that direction is occurring :-)

@steemitblog,
I think this time you might bring SMT alive! Coz till today, it's a myth and wish it will not be in 2020!
$trdo

Cheers~

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Everything is on track (for the currency to fall another 20% this week, down to 0.15 USD)!

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