Announcing Changes to @sportsvoter

in sportstalk •  last month 

We've made some changes to the way that @sportsvoter and the associated delegation rewards system from @sportspromo are working. We'd like to announce what those changes are and prepare everyone for how these will begin affecting the community. We'd also like to apologize for our initial lack of communication on this front and have a special announcement for our delegators.

Changes to @sportsvoter

Increase the maximum SPORTS bid allowed

We noticed that lots of voting power for @sportsvoter was being wasted. We've adjusted @sportsvoter to allow for up to 10,000 SPORTS bids so that more of @sportsvoter burning can take place.

Changes to payouts for delegators

We have a couple changes we are deploying to the way @sportspromo distributions rewards users for their delegations to @sportsvoter. We will continue making changes on this distribution until we find the proper rewards schedule that rewards delegators with value while also tying SPORTS to the Steem ecosystem.

SPORTS Paid as SPORTS Power

We noticed after the introduction of @sportsvoter that our initial payments were only applying downward sell pressure on the SPORTS economy. We don't want the value of SPORTS to solely be stored on its immediately sell value to users seeking Steem upvotes. Instead we want to emphasis our community's value by allowing @sportsvoter to serve us by helping to grow our ecosystem and have it's value tied at some level to Steem.

To do this we are adjusting payouts from @sportsvoter delegators to a 75% SPORTS POWER / 25% SPORTS payout schedule. This become partially deployed last night with an introduction to 100% SPORTS POWER and we hope to have an update to the 75/25 split available as soon as possible.

@sportsvoter delegations will now max at 10% of inflation for rewards payout

In our announcement post on @sportsvoter, we had released a schedule that was based on the number of Steem Power delegated and the different levels that would unlock of SPORTS distribution. We like this method and hope to keep it deployed. For now while we review the proper amounts to be deployed to delegators we are capping this payout at 10% or 288,000.

Our Apologies

Last night we deployed a portion of these updates and delegators were only paid in SPORTS POWER. We apologize there was not an official communication about this. It was not our intention to make changes without communicating those to the wider community.

We reached out to one of our amazing devs and told them about our desire to add SPORTS POWER as a piece of the distribution system. They immediately were able to deploy the changes though we weren't prepared with the announcement. We sincerely apologize to our delegators and community at large. We don't hope to build our relationship with you off situations like this.

To make users whole in their liquid value they were expecting, we are preparing a special distribution of liquid SPORTS to all delegators who were paid in SPORTS POWER last night to receive a distribution of liquid rewards. These rewards will be paid from the SportTalkSocial's team account. We once again apologize for the lack of communication and hope this will help provide the immediate value those delegators were expecting.


We'd like to invite you to talk with us about these changes in our Discord. You can join the discussion there by vising http://discord.sportstalk.social. We look forward to seeing you there!

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so there is no further level after 288,00 so after 100k SP there are no further increases?

I still received my rewards powered up today though

Really curious how this will change things

Happy to see changes though!

For now it's anticipated that 288,000 (10%) will be contributed to delegators. It's hoped to bring back the sliding scale with 10% being the new top though 100k will not be the top level so distributions may lower further. Until it's determined the proper level we'll remain at an equal 10% overall.

The deployment for the final parts of the changes didn't get merged before distribution today. I will ensure that delegators get a liquid value for both days for their payouts.

Its great that you guys took action and are adjusting to see whats better for the overall project. Way to go!

Thank you for the support @neri0x!

While it is a nice update. Sudden reduction from 20% to 10% may not be a well thought idea. You could have opted for gradual reduction. For example every week it will be reduced by 1% from 20% till 10%. Because sportsvoter account is still very new(hardly 10 days or so) and it was quite appealing for the delegators. This sort of sudden change may not bode well with them.

With this, even the new delegators may think that there will be further and sudden change in the payout to them. So it may not go well. It was gaining popularity very quickly as a bid bot, but now it may not be the case.

This is own personal opinion only.

It's not actually dropping any from what it has been other than a portion being paid in SPORTS POWER. The prior scale allowed it to go up to 20% but its distribution was only at 10% on that scale. We are just capping it at the moment so that it doesn't go higher than what it's been.

Just Joined SPORTSTALKSOCIAL
and
Bought my First SPORTS at STEEM-ENGINE
and
STAKED it
I am Looking Farword to Buy MORE and MORE


Congratulations @sportstalksocial!
You raised your level and are now a Minnow!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

sound fiscal changes, the burning is rad
burn babeh burn
cheers!

Thank you for all of the support @battleaxe! Hoping we can heat things up with all of the burning :)

Guys two questions.
How do you know when a round is not full? It keeps stating that this round and next round are full but I will not know when to use the bot. I know OCDB have a queue that you can look up etc.
Second question : Can you use the bot to vote on non sports related content?

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i want to know if i delegate 300sp to sportsvoter then how much they pay?

It's based on your your delegated stake as a portion of the total delegated amount X 288,000 tokens so it fluctuates based on how many other users are delegating stake to the community.

To give a general idea @myjourney has been delegating 300 SP and their payouts have been around 3,500 SPORTS a day. This will now be paid partially in SPORTS and partially in SPORTS POWER.

okay i want to delegate Steem power

how to delegate Steem power ?

Hi @jecky1! I`m here to help :) If you want to delegate, please make a comment (for example replay to this one) like this:
I want to delegate X sp to @user
Where X is the amount of SP and @user is the steem user you want to delegate to. For example:
I want to delegate 100 sp to @jecky1
@tipU will answer with a delegation link. Hope this helps!:)

If you're using Steem Keychain you can select the drop down arrow to the right of your SP balance. Then you'll just want to input @sportsvoter as the username it's going to and the total amount of SP you'd like to delegate.

If you'd prefer to use Steem Connect to sign your delegation then I believe you can still use SteemBotTracker's delegation tool.

https://steembottracker.com/delegation.html

Good to read the official annoucement! Communication is always desirable. Thank you for doing this. :)

Still we need to look at the triggers of the selling pressures. The liquid payout of SP delegation is not the only reason for sure. Need more comprehensive analysis.

Posted using Partiko iOS

hello today i delegate 100 Steem power to sportsvoter now how much SPORTS token I can get daily???????

hello today i delegate 100 Steem power to sportsvoter now how much SPORTS token I can get daily???????

That’s great. Thanks for communicating with the community about the changes. I like the 75/25 split.

Does the 9 months power down still stand? Also, now that rewards will be paid in SP, will power down be received weekly or monthly?

Yeah nothing has changed on our power down system. This will also not affect post rewards in any form. This is only to deal with payouts to users delegating Steem Power to @sportsvoter.

I am really sorry; but I dont agree with you and I have my own reservations:-

  • You said it creates selling pressure and that is why you are giving in sports power and now you have decided for a 75/25 split. But dont you think that as you take in sports for bidding your bot for an steem upvote, that equally creates buying pressure. So it is not a good argument that giving liquid reward creates selling pressure.

  • If you have decided for a 75/25 split, why don't you consider for 50/50 split as that is new found and evolving concept in steem blockchain.

  • You are capping it now with 10% as against 20%, then why to give sports power then, is not that faily balanced now if you are reducing it from 20% to 10%.

It was creating selling pressure because we were distributing 288,000 tokens daily while only burning 10k or so tokens. Beyond the fact this was grossly undervaluing our community's value it was leaving delegators to need to sell 270,000 tokens if they didn't decide to use them to increase their own SPORTS POWER.

We've decided on 75/25 SPORTS POWER/SPORTS only for the delegation payments. The existing content payments will continue to be a 50/50 payout. We want to encourage delegators to not only gain value from our community through their delegation but also through their participation in the community's consensus thus we are favoring staked distributions.

We actually aren't reducing at all. The previous scale was up to 20% based on the number of Steem Power that was delegated. It's current value was only 10% so we are simply capping the existing value to not go any higher for the time being. As we continue to evaluate we'll hopefully reimplement the sliding scale for payments in the future.

I dont think you are giving payout in 75/25 ratio, as I have noticed I am still receiving my daily sports reward in sports power. Can you please clarify on this ?

Its still coming. As soon as the dev pushes the fix I'll be making a liquid payout for the time it's been doing all SPORTS POWER payouts.

Posted using Partiko Android