The Boomerang Whitepaper
How to bid for votes
In order to send the SBD, just open your wallet (https://steemit.com/@YOURACCOUNTNAME/transfers) and open the menu in the STEEM DOLLARS section. Click “Transfer”.
In the dialog window fill in the following valued
- To : boomerang
- Amount: Any amount you wish
- Memo: The URL of the post you want to get voted by @boomerang
Finally click the SUBMIT button.
In the example given a 100% vote of @boomerang is worth $ 4.43.
Boomerang Voting Strategy
Boomerang votes 10 times a day with an aggregated vote weight of 100 percent. The voting starts when block-number modulo 2880 == 0. The 100% vote will be splitted between all bids from the previous 2880 blocks.
Example: There are 3 bidders A B and C. In total they send 6 SBD to @boomerang and the 100% vote is valued at 9 $. Bidder C has sent 3 SBD (= 50% of the total 6 SBD), so he will get a 50.00% vote from @boomerang
@boomerang will send refunds in following cases:
- a user has sent STEEM instead of SBD to @boomerang
- the provided memo is invalid
@boomerang will distribute the SBD 10 times a day (directly after every voting round) to the STEEM POWER Delegators. The payout is distributed in proportion to the amount of the SP delegation.
Curation Rewards Distribution
@boomerang will distribute the curation rewards depending on the total amount of SP delegations, for details see the table.
The more STEEM POWER is delegated, the higher the share that will be distributed to the delegators. Future changes are possible.
The curation rewards will be distributed once per week. As curation rewards are STEEM POWER, @boomerang will permanently be in power down mode to get transferable STEEM tokens.
@boomerang was initially created with 500 SP, the power downs of the first weeks will be used to release these 500 SP. After that phase, the curation reward distribution will start.
Curation rewards will be distributed depending on the amount AND the duration of the SP-Delegation. The duration is the number of voting rounds the delegated SP was available for voting.
Example: 10 STEEM are available for distribution. SP-Delegator B has delegated 2,000 SP which were used for 300 voting rounds. The product of 2,000 SP and 300 Rounds is 600,000 which is 12% of total 5,000,000. That’s why user B will get 1.200 STEEM (12% of the total 10.000 STEEM).
If a user revokes his delegation and does not delegate within one week, this user will lose his loyalty bonus. If he delegates again later than one week, he will start at 0 regarding the curation reward distribution calculation.
How to join
Recommended would be steemconnect, because in steemconnect one can easily increase the amount of a SP delegation, which is not possible in the current version of Vessel.
To learn more about SP delegation with steemconnect, read this excellent tutorial written by @timcliff.
How to exit
If you want to revoke your SP delegation to @boomerang, just delegate 0.000000 VESTS to @boomerang. After 7 days the SP will be available in your wallet again (they are blocked for one week after revoking the delegation to avoid double voting).