How Can Utopian Incentivise Power Ups? Lets Discuss
Due to the recent deep of the Steem price I tried to come up with ideas about how Utopian could incentivise Power Ups?
Incentivising Power Ups
Utopian has a great voting power, almost 4 Million SP and it is capable to generate a crazy amount of author rewards.
I believe we should use this opportunity also to incentivise power ups.
@inquiringtimes also came up with the idea there should be a way to incentivise them.
When Utopian started, all the contributions were by default 100% powered up. We allowed 50/50 after many requests from the community.
While we are not looking to get back to force 100% powered up contributions, I do still believe we can do something.
What's your idea?
100% Powered Up Contributions = Bigger Rewards
The first idea that came to my mind was to give a 20% bigger upvote from Utopian for the contributions that are 100% powered up. After discussing with @espoem and @emrebeyler we came to the conclusion this is not gonna be beneficial, especially now that the value of Steem is down, while could be way more beneficial to incentivise powering up liquid Steem and SBD.
Incentivising Power Ups of Liquid STEEM and SBD
It is technically possible to estimate the percentage of powered up Steem compared to the amount of liquid Steem and SBD owned by an account. The Utopian Bot may take in consideration the percentage and give a bigger reward to those accounts that clearly have a bigger portion of Steem Power compared to their liquid Steem and SBD.
What do you think, could this be a way to incentivise Power Ups?
First thought:
Bot may increase the voting weight by looking at users' recent power-up levels.
By saying power-up I mean:
If this ratio will be checked as percentage ( earned/converted) I would agree.
Direct sp converted value is demotivating for new users.
Utopian and Steem needs new users.
FD.
I like it. How about extending this:
how about the option to use a share of the beneficiary rewards to power up the users?
The user could chose between the
edit: a few more thoughts:
The best way for me would be comparing how much of this month posting rewards of the user have been transferred to Steem and powered up.
There is no way to cheat here.
A good approach for this might be: How much did the SP of the user grow compared to his Sbd income.
This way buying Steem at an external market would be considered as well.
but what then with the accounts have 50/50 but just send the SBD / liquid steem somewhere else (bittrex, bitshares, other account)
Then you would have given bigger upvotes for people that are not powering up 100% as you would want them and I do not think there is a way for the bot to check for that
This is generally a good idea, although there are some issues surrounding my mind.
The first issue with this system would be estimation process. How would the system estimate If a user is using liquid SBD or STEEM earned from Utopian contrubitions to power up, rather than Its own investment (or liquid assets from other posts rewards). If there will be no distinction between them, I fear that this new system will only benefit high SP users.
And this is a second question mark for me that will lead to another problem. Although this system encourages users to do Power Up, I think that new users would be discouraged to contribute to the Utopian system because of possible low awards.
hey @elear, i like easy solutions so for me the 100% thing is not ruled out completely, but maybe iam missing informational pieces that you 3 already discussed.
What also would be possible is to bring a ratio into play, the amount of sbd spent to power up against the amount of sbd spent otherwise.
You could calculate that now and set up a few role models to get a feeling.
This also should take into account previous or actual power downs.
kind regards
Jan
Hi @elear ! I think there should be a way to make the algorythm see which steem accounts are powering up the most percentage of the earnings in SBD or Steem. If the smart algorithm is able to trace those accounts and give more powerful upvoted from the @utopian-io bot, this will make several people to start powering up much more, to get more rewards.
It could even be a weekly email sent by @utopian-io showing the 100 top accounts that are powering up the most of its rewards in sbd or steem, and their could even be written that number 1 gets certain additional percentage of the @utopian-io bot, then from top 2 to 5 accounts powering up the most, they get a certain additional percentage of upvote, and continue the scale so that many people can setup their goals on were they want to be as far as rewards, and they set their plan to achieve this.
Your thoughts?
Regards, @gold84
I think no special incentive is required. If the author powers up, they can vote on their own post and thus reap more rewards than by not powering up.
Utopian by heart <3
Thanks for making utopian @elear. Majority of us are nothing without it.
Absolutely, that is a great way to improve the Steemit as well as Utopian. I support this decision. As you said incentives should be based on the SP - SBD ratio.