SMT Burnup: RC Delegation Pools

in smt •  20 days ago  (edited)

SMT Burnup RCs.jpg

Progress

Last week we completed SMT issue #2705 which covers delegating RCs to RC delegation pools. This is an important milestone in the development of the RC Delegation system. We began development on issue #3103 which included the next two custom operations for RC delegation to set slot receivers and to delegate RCs from pools.

Screen Shot 2019-08-05 at 4.25.08 PM.png

We continued making progress on review and development of the SMT ICO issues
#2731, #2732, #2733, #2734, #2735, #2736, and #2767.

Scope Increase

We added 5 points of scope to the SMT MVP. Issue #3373 was a part of the SMT MVP but had not been sized.

Summary

Completed : 8
In Progress : 45
Scope Increase: 5
Net From Ideal: -24
Status: Warning

We are still behind our ideal velocity, but with so many story points in progress (most of them being updated after code review) we still believe we will be back on track within a couple of weeks.

You can see our previous post on SMT Burnup Methodology for more information.

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RC delegation will be great. Really feel like it's so much better for businesses!

If I was able to earn steem of 99% of my unused RC it’ll be awesome

Even better, burn the new steem

RC Delegations are gonna be huge for supporting new members!!!

That is great innovation. I really wanted to delegate my rc to my community members. 👏🏽🇵🇭

Posted using Partiko iOS

Same! I'm pretty sure I can delegate 95% of my RC and not have any RC issues lol

Appreciate the update on Steem's blockchain development!

However, to reiterate @transisto's comment, we do think that this post might be too technical for the remaining 99% of Steemit.com's userbase, as can be seen in the comment of some of the steemians below.

Perhaps it helps to include an ELi5 on what the development does and more importantly, how will users be affected once the development is implemented.

The closest explainer post on RC Delegation post we can find is @therealwold's proposal over 10 months ago.

Perhaps it helps to explain if the proposal was fully accepted? or perhaps give a quick run-down on what's changed since the proposal?

Anyways, we applaud the team for transparent communication.

Keep up the good work!

Thanks for the feedback @coingecko, we will definitely be releasing more plain-english explanations of what we're working on. Our goal with these posts is just to keep people updated in near-real-time about what we're working on, which as you point out is highly technical. Thanks for linking to @therealwolf's post, we'll definitely check it out!

Welcome to the Steem blockchain.
Here your content is king!

Follow 👉🏼 @sahariar755

Hi, I’m using Partiko to make friends and have fun on the Steem blockchain. You should as well!

Really looking forward to where RC delegation pools can empower Steem apps and users. Will definitely make the RC problems of new users much easier to contend with without opening Steem stake up for abuse.

Does this mean that when Steemit (and others) onboard a new user they can provide RCs instead of the 15 Steem (or whatever it is these days)? This way, new users can get to business interacting straight away as the cost to onboard doesn't require Steem and since RCs are non-voting, it is possible to use them for temporary accounts that then mature into full accounts once they have earned enough or powered and powered up.

This way there is 15 more steem to powerdown.

Not if they want RCs.

I don't get people. Seriously. They will go and kneel with their asses up in the air in front of Zuck but when a good thing like Steem comes along that empowers them even a little bit and that even keeps getting better in terms of development they keep repeating what a piss poor thing it is. Look people, Steem is pretty much the only game in town that does anything for the little people like us on social media.

The implementation of RC Delegation Pools is fuckin' fantastic news. It's a crucial element in what is needed to scale the onboarding process.

Even though I have no idea what those technical terms mean, I’m glad you’re making progress.

Glad to hear RC delegation is being worked on as we speak. It will be amazing for all of Steem!

Great job!!

Can we also make "Pending claimed accounts" to be transferable, too? in the upcoming SMT?

+1 for tradeable account tickets on the internal market, so that dapps can buy them if new accounts created through their dapp are in high demand in the future onboarding of the masses.

Wow new Steemians will be able to delegate sp and rc now that's motivation that will impact the future growth of this Blockchain in a positive way and that's a great outlook thanks for the update @steemitblog steem on

Wow, future growth, 30 million steem a year is not enough for you?

You don't even have stake, why do you care so much?

Very useful thing for @giftgiver. Ability to delegate RC to new users without losing SP will let us help even more people.

What good are SMT, when there is no possibility to trade them in the internal market, or on a DEX in SMT v2.

The market is always right. No trading is really a steem blockchain showstopper.

Get your priorities right!!!

I am not sure where you heard that we aren't building an internal market for SMTs, but that is definitely a part of the SMT MVP. We are delaying the internal market maker to a later release, but that does not impact your ability to trade SMTs. As soon as you have an SMT in your account, you will be able to trade it.

Ohh my g-d, thank you for this confirmation. You should update your communications officer with the latest.

Thx for replying, thumbsup

Yup, apparently that was a miscommunication within the org. Thanks for bringing it to my attention!

You can trade them perfectly on chain. What's the problem? Make your own market for now.

Growup first...

Great news! It's real good feature.

  ·  19 days ago Reveal Comment

This is slowly brewing to something epic.

Nice

Look so interesting, many people has rc issue.

Posted using Partiko Android

Great and best sharing

That's a great idea.

Posted using Partiko Android

This is a very good development and i can see that people are very happy about it even though i don't know what it means.

Create a build in instant Resource Credits {RC} recharge. Where the price gets automaticly set according to the current Steem blockchain resource demand.

The payment in Steem / Steem Backed Dollar will go to the @null address, basically burning it. With a max Steem issue cap set this will make it possible to re-issue. When, for example demand for new Steem grows, inflation could be adjusted. Steem could become a more rotating economy that way.

Burning Steem for an instant RC recharge, where the price is determined by the current resource demand. All mathematics, no human intermediators needed.

More Steem getting burned could also cause a higher demand for Steem on the market. Another win there.

Interesting ideas. I'd like to explore something like this more as well, though perhaps it's something individual communities and smts can explore.

It would be great if this could be done with SMTs.

Yes, hopefully there will be all kinds of different options.

This is good idea, too bad Stinc probably already got too much on their hands.

Thanks, I guess this may be one for the future, perhaps.

treeplanternoplant_new.png

👩‍💻👩‍💻👩‍💻👩‍💻✈️🚀🚀 STEEM to the moon!

This sounds like a nice idea and can likely be used to assist in many business ventures and even onboarding and community building. Thanks for the update.

good business))

  ·  19 days ago Reveal Comment

It's very niche, printing almost 30 million steem a year. Bunch of idiots...