SMT Burnup: Reward Payouts, Tick Pricing, Delegation Emission Funding

in smt •  last month 

SMT home stretch.jpg

We are in the home stretch of SMT development for the testnet!

Completed Work

Last week we completed work on SMT reward payouts (Issue #2749 ), tick pricing rules for the STEEM/SMT internal market (Issues #1573, #1575), and delegations to SMTs to fund token emissions (Issue #2706).

Screen Shot 2019-09-23 at 3.05.40 PM.png


We are working on the last remaining blocker for a testnet release, token emissions, as well as platform independent state files. At this point, we are keeping our heads down and focusing on getting this out as soon as we can which looks to be around 1 or 2 weeks behind what we were anticipating.

Scope Increase

There was no additional scope increase this week.


Completed :20
In Progress : 13
Scope Increase: 0
Net From Ideal: -8
Status: Good

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

The Steemit Blockchain Team

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I have never felt the confidence and belief in Steem as I have right now. Great communication from you guys, and nice progress on the current goals of creating SMT and improving the platform in general

I agree. So nice to see all the updates. Really gives one confidence in the future of the platform!

Glad to see more thinking alike :)

Lots happening!

Definitely is my friend ! If you’re an investor standing on the side lines I think this would be a good time to jump in

Sounds like financial advice to me!! Thanks! Haha

Yes you're right. The biggest problem now may be the Quantum computers that will be able to break any blockchain code within 2 years. :(

If that happens, the whole of internet security will up to poop... Blockchain is currently such a small target in comparison, and any solutions will be rolled out to crypto as well.

Well, let's see how well that prediction plays out!

Interesting times! Big dump today.

What ?? Haha that doesn’t sound good, where did you hear that ?

Great to hear!

It's really exciting to see all the current progress being made overall. They definitely should keep it up!

Even when they're short updates, it's always great to see this kind of posts. The communication from Steemit Inc towards the community is so much better now, thanks for this!

Our pleasure! Thanks for sticking with us as we've tried to improve

Great work Steemit Team. I'm just curious and would like to know if you guys have received any new requests from companies or individuals who want to start developing on the SMT Testnet? What can we expect in next couple of months probably a new wave of projects coming to the Steem Blockchain :-)???

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Yes :)

Hopefully i can get some more steem before the price spikes up

I think SMT is the place thing might getting change in STEEM! Thank you for this update!


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Congrats, hope it continues to go well

I can understand reservations putting items to dates, but without them it makes it hard to follow along and cheer. Is there some happy compromise that you can just show a few key optimistic milestones on the "burn-up" or maybe as second chart or list of items with these posts ... I want to be able to see what stations the train has along the track.

Steem, all the way to the top! I'll always be around here. With the project I am currently working on, I look forward to bringing more users/investors to this blockchain.


So testnet will be available in 1-2 weeks, can you detail on "platform independent state files"? Thank you!

Could be just me, but I interpret it as 2 weeks behind schedule and the testnet available Dec/Jan??

...just a guess


better good than fast ... .but how is this different from steemengine ? i mean on the practical side, not the technical side ... (other than the fact that steemengine is 'private enterprise where part of the money goes one way as you need 100 steem to start a token ...) (im behind 17 days so if anyone answers i'll probably see in 3 weeks ...)
yea i'll be around here too until they take down the last node but the signals arent very hopeful , given the fact that the biggest seller didnt sell this month ? someone seems to use the cushion somewhere as not up one cent but down another two again , it smells like sabotage almost where a rival is selling in spirals ...

... I guess in my mind Steemengine should not have the exclusive on anything, including tokens (even on practical side, SMT looks to be a different thing to me with way longer in the making). Things of value must stand on their own feet, which means stand up to a little competition. I think both can co-exist - but I'd expect some would disagree; I guess competition will sort it out, i.e. if SMT sux, it won't be used. terms of price drops, it doesn't seem unique to Steem; so not sure it's a sinister as you elude to, but I take your point there is some unusual behaviour - maybe someone should make an app to show who is selling off what across whole chain, or does this already exist somewhere? (always so much new dev here).

No no, testnet should go live in a couple weeks :)

Cool - wasn't clear in this post. If you need an extra semi-technical tester, feel free to send me a walk through script. I run Windows.


I have never felt the confidence and belief in Steem as I have right now. Great communication from you guys, and nice progress on the current goals of creating SMT and improving the platform in general

You should add an additional row called Remaining and list how many more points are left for full SMT release.

Congratulation for a good posts! Always be original to avoid cheetah. Follow me up as I do to you. Upvote, comment and reply my posts. Invite me to your community. Together we make it! Together we gain it!! Together we enjoy!!!

I won't believe it if I don't see it

yet motion is not standing still so every extra is a bonus ... im glad they proved to have failsafes on the last 'crash' ... but yea comms could have been better ... i prefer timelines to be like 'it will be there when it's there' i have never seen blizzard, for instance , rush out a product just to stick to the timeline, they delayed it and delayed it until they were satisfied with the quality, and i think blizzard is a good example of "we have money" heh ...

  ·  last month (edited)

20 completed and 13 in progress? I am not an expert (I don't see behind the curtain), but based on these numbers, you are almost halfway to finish the work on the SMT. Keep up the good work guys!

This is amazing guys. I know you get a lot of shit (sometimes for good reasons) This is actually one of those moments you should be praised to the fullest. Test everything well and get us a smooth ride into my most anticipated feature.

Great progress on the project, hopefully it will succeed if not already :)

Good job.

Wow! Awesome job guys. Let the community know if you guys need help from us.

I have this feel-good record in me whenever I see articles about the advancement of steem platform, keep up the good work guys - you're all appreciated ;)

Feels good, man. SMT testnet soon and development all day every day.

Nice development, Glad to hear that!

All this little bits of informations create a very positive feeling into the devs and that there will be some damn cool SMTs will be delivered very soon.

We should have more ways or mechanisms to burn steem to offset inflation and finally make steem more valuable because of the scarcity that the Burning would do. @steemitblog

  ·  17 days ago (edited)

Curious: aside from choosing different author/reward ratio splits on SMTs, might it also be possible to experiment with different rewards distribution algorithms? Specifically, as I have long advocated, I think that something like a Second price auction, combined with a super-linear curve to penalize stake-splitting would go a long way towards minimizing both upvote & downvote abuse, and I'd love to see an SMT run the experiment.

  ·  last month Reveal Comment