First Round Delegation Renewal Application

in steemit •  2 months ago  (edited)

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  • This deals with delegation RENEWAL applications only. NEW delegation applications and instructions will follow at a later time.
  • The due date for RENEWAL applications is 23:59 UTC, September 2nd, 2019.

The Delegation Trust team is excited to kick off the first round of delegation renewal applications. If you have a delegation you'll need to complete this form by September 2nd in order to be considered for renewal. Failure to apply will likely result in automatic termination of your delegation in its entirety.

This post is following the spirit of, meant to be read in conjunction with, and referencing the original @steemitblog post which describes this committee and the process for delegations.

https://steemit.com/steemit/@steemitblog/announcing-steemit-s-new-delegation-application-process

While we will do our best to create objective measurements as to the effectiveness of a delegation, the decision to recommend Steemit Inc. makes a delegation remains subjective to the individual members of the committee.

This Round is the initial round and slightly different than later rounds

The delegations that have occurred to date didn't go through the delegation application process. As a result we incorporated the questions that new delegations have to provide into the delegation renewal process in this first round. Those projects seeking delegation renewal need to complete these questions for this first round by September 2nd.

Delegation renewal applications in the future will be substantially shorter and will require a link to the initial application and submited answers to just the Renewal Questions: Impact to Date.

We will update the much shorter renewal application questions for the next round.

Reminder

Illegitimate Use of Delegations

Delegations must not be used to enrich the recipient of a delegation through upvotes (aka “self voting” or purely by means of beneficiaries gained through the use of a project’s platform).
Projects shall not use the delegation in any exploitative way that is detrimental to the Steem community, such as to grow a community, product, or application and then cease to leverage the Steem blockchain.

We are adding here that delegations must be used for their intended purpose. Delegations are being granted for a specific purpose. Deviation from the stated plan will result in delegation termination warnings and finally termination. Delegations can be used for new purposes with prior approval from the committee without a lapse in delegation by submitting a Delegation Alteration Application (to be created later).

Legitimate Use of Delegations

  • Account creations
  • Incentivizing users for the purpose of growing the Steem user base
  • Incentivizing users for the purpose of increasing revenue which is then powered up

Baseline

Here's the most simple question that we need to affirm before approving a delegation. Will you provide more benefit to the ecosystem than if we were to make burn posts with that same amount of delegation? If your project can't outpace "burn posting" in value added to the ecosystem then you are unlikely to receive a delegation.

(A burn post is when a post is created, votes are received, and all SP rewards are powered down and burnt, and all liquid rewards are immediately burnt.)

Clarifications

If any question is not clear we request that you do 3 things:

  1. Post your clarification question in the comments below referencing the question number of the application.
  2. We will soon release a video walk through of this blog to help clarify what our intentions for each question are - please make sure you watch this.
  3. Attend our townhall forum for delegation renewal applications, time and date to be published once we have the first round of clarifications in the comments below.

Initial Delegation Renewal Form

Each project which has an existing delegation shall fill out the information in the below form and post to the tag #delegationrenewal

Each project shall also fill out the same information in this Google form:

https://forms.gle/t5AgdQPKGGbB8xhs6

Payment

Provide the transaction ID and image of the application fee (Test: 40 SBD, Mid: 65 SBD, Top: 100 SBD) to have your application reviewed.

Project Information

Please limit your responses in this section to 140 characters.

  1. Company name:

  2. Place of Incorporation:

  3. Token name (if applicable):

  4. Token Type (ERC20, Steem-Engine, SMT etc.):

  5. Project Type (for profit business, flagging project, community, others please specify)

Existing Delegation Received

  1. When did you get the delegation?

  2. Under what terms did you receive the delegation?

  3. What was the intended purpose for the delegation?

  4. How have you applied your delegation for that purpose?

  5. How long are you requesting the continuation with the delegation?

Market

Please limit responses to 300 characters.
What problem is the product/project solving?

Core Team Details

Please limit responses to 500 characters for each team member.

Write short summaries about each core team member including their achievements to show they have a strong track record. Add links to their LinkedIn profiles to this section.

Minimum Viable Products

Please limit responses to 500 characters per product.

Provide links to your minimum viable products and describe it. If it is not available, please describe it and include how you plan to build it and when it will be built.

Business Strategy

Please limit responses in this section to 250 characters per question.

  1. Fiat Revenue Strategy: [E.g. We plan to sell NFTs which represent in-game items for US Dollars]

  2. Fiat Revenue Projections in $/user every month: [E.g. $10/user]

  3. How will your business strategy increase the amount of STEEM being powered up and/or burnt?

  4. What financial incentives are you willing to provide to Steemit, Inc. and/or the Steem Community in return for the delegation? i.e. What's your skin in the game? [E.g. project tokens, revenue-share, etc.]
    (Without a return there's not a partnership, it's simply a contribution, and one that's easily left behind. In order to encourage businesses and communities to commit to the Steem blockchain and ecosystem long term there needs to be both a contract and a mutually benefical partnership.)

  5. Are you or how will you become financially sustainable once the delegation is removed?

KPI Progress Measurement

Please limit each KPI description in this section to 100 characters.

Suggest at least 3 KPI’s per project with which to measure the progress of your project(s) in its(their) current phase. KPI’s must be measurable and objective (a percentage or numerical value), or binary (yes / no or completed / not completed).

Please note:

  • KPIs are to be reviewed and evaluated by the committee in the next quarter.
  • KPI descriptions shouldn't change without a change request form.
  • Targets will be adjusted every quarter in future appliction.
  • Refer to this post for sample/suggested KPIs.

KPI1 description:
KPI1 target:

KPI2 description:
KPI2 target:

KPI3 description:
KPI3 target:

Token Offering (If Applicable)

If you are planning on offering a token, please fill out details below. Otherwise, if you haven’t tokenized, but still provide a service, please describe the service and the amount of that service that you’re offering to perform for Steemit and/or the Steem community in exchange for the delegation.

Token Details

Please limit responses to each question in this section to 10 characters.

  1. Token Launch date:

  2. Total Token Supply at launch:

  3. Fundraising target (in order to fund expansion into the operational / project growth phase / mass market adoption):

  4. Yearly inflation:

  5. Percentage of total token supply that will be airdropped to ALL Steem stakeholders (a/k/a SP holders) in proportion to their SP:

  6. How many tokens and what percentage of your token supply will you offer Steemit Inc. / the Steem Community in exchange for the delegation?

  7. Do you plan to launch an IEO, ICO, STO or other public token offering?

  8. Do you plan to raise money from other investors?

  9. What is the vesting period for the following:
    a) Team members:
    b) Early / seed round investors:
    c) ICO investors:

  10. What is the % token distribution to:
    a) Team:
    b) Marketing:

  11. If you haven't tokenized, but still provide a service, please describe the service and the amount of that service that you're offering to perform for Steemit and/or the Steem community in exchange for the delegation.

Delegation Request

Please limit responses in this section to 10 characters.

  1. How much of a delegation are you requesting? Limit your requests to one of the three tiers: Top-Tier, Mid-Tier or Test-Tier.

  2. Specify the desired time frame for the delegation in 6 month increments: [E.g. 6 months, 1 year, etc.]

  3. Which one of the following answers best describes how the delegation will be used to add direct value to Steem:
    A. It will be used to create new accounts.
    B. It will be used to give new accounts 15 SP to give them the resources needed to use Steem and purchase goods and/or services through our platform.
    C. It will be used to incentivize the creation of content that promotes Steem / your project on external platforms.
    D. It will be used to provide limited trial or discount services to clients to encourage them to hold Steem and delegate in the future.
    E. Other: Please describe.

Agreement

We agree that our business will continue to leverage the Steem blockchain as long as we are receiving a delegation and 1 year following the removal of the delegation. During this time we also agree to promote the Steem blockchain as a valuable technological protocol that delivers unique value. We are willing to sign a legally binding contract with Steemit, Inc. to this effect.

Renewal Questions: Impact to Date Since the Start of Delegations

Table 1 (Totals)

QuarterQ2 2018Q3 2018Q4 2018Q1 2019Q2 2019July 2019August 2019
(1) # Users onboarded_______
(2a) Users (Steem)_______
(2b) Users (non steem)_______
(3) Impressions_______
(4) Value disbursed from delegation (USD)_______
(5) External Revenue (USD)_______
(6) Steem Powered Up (Project Accounts)_______
(7) Steem Powered Up (Clients)_______
(8) Steem Power Delegated (Community)_______
(9a) KPI 1 (please replace)_______
(9b) KPI 2 (please replace)_______
(9c) KPI 3 (please replace)_______
(10a) Steem burned_______
(10b) SBD burned_______

Table 2: Steem Power Delegated Per Client

Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019July 2019August 2019
Client 1_______
Client 2_______
Client 3_______
Client 4_______
Client 5_______
Client 6_______

Questions (Where applicable, fill in tables above)

Please fill out the answers to these qustions as best as you can. If it is not applicable to your project please put N/A. You will be asked to upload spreadsheet data in the Google Form, you can clone samples from here: ( Table 1 | Table 2 ).

  1. How many new accounts have been created using your projects' account this quarter?

  2. a) How many Steem accounts are interacting with your project (this includes guest accounts as well as Steem user accounts)

    b) How many Guest (non Steem) accounts are interacting with your project

  3. How many impressions is your project getting?

  4. What is the total quarterly (USD) value of rewards disbursed directly tied to the delegation? (can be a negative number of your projects is a flagging project)

  5. How much external revenue have you generated in USD per quarter? Do not count Steem income from curation / voting.

  6. How much revenue have you brought to Steem as measured by total STEEM powered up through your project's Steem accounts

  7. How much Steem is delegated to your project to manage on behalf of your clients? (fill sum in table 1, and show break down by client on table 2)

  8. How much Steem Power is delegated to your project from the Steem community?

  9. For the KPIs listed above, back report progress for the duration of the delegation on a quarter by quarter basis.

  10. How much Steem / SBD has your project burned?

  11. Describe what value the project continues to bring to the Steem community and why the community should continue to support your project?

  12. Describe your project roadmap with expected timelines and milestones.

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or purely by means of beneficiaries gained through the use of a project’s platform

Could you expand a bit on what this means, or what good examples of opposite voting would be?

I agree that there are many more positive ways to use delegated stake, including rewarding user-generated content marketing, or rewarding users for onboarding new Steemians who stay on the platform and are not spam accounts.

However, I don't see anything wrong in using all stake to vote on users for their contributions with content. At least I find that a lot better than for instance voting on comment(s) from a dev as a way to pay for development. Indeed I would suggest that it gets added to the list of "illegitimate use" to vote on devs as a form of payment (which ought to be done with a liquid transfer of tokens that the business has earned and can thus share to contributors).

Perhaps the point of your sentence was to stress how reliance on benefactor rewards only is not a sufficient business model to be legitimate for a delegation, but it looked very strange to place it underneath illegitimate use of delegation as it ought to be used for users doing normal behaviors that are part of the app and thus helps incentivise user growth.

Edit: I wrote the question(s) while the thoughts struck me. I now see that you answered the parts of providing examples of good use of a delegation. Which leaves me with another thought:

Incentivizing users for the purpose of growing the Steem user base
Incentivizing users for the purpose of increasing revenue which is then powered up

Completely agree with the first, but find the second quite questionable. Assuming the "increased revenue" doesn't come from selling Steem, I don't see why it ought to be powered up. Demonstrating that businesses can run and improve a business model that is sustainable and brings in revenue outside of inflation-based rewards, ought to be one of the main goals of delegations imo. To showcase that having Steem Power is attractive for a business, and thus creating a demand from other businesses to buy Steem and power up to do something similar.

Great points here. We will come back with a clarification to this soon, as they definitely add to the discussion. These illegitimate and legitimate uses of delegations came directly from the Steemit inc initial communication on delegations and with input from people like u we can get the input needed to develop the definitions and be sufficiently specific to avoid doubts as to what is meant

I would just add that these points aren't the only legitimate uses, so I suspect the second point was a very specific one that is unambiguously 'good'. In other words, it doesn't say not powering up revenue is bad. It just says that if it is powered up it can count as being good/useful. Especially in the context of getting to a point that it does not rely on Steemit's own delegation.

Good point. I think it would be wise to at some point encourage the high tier delegation receivers to have a public document explaining its curation policy and voting guidelines. At least I am preparing this for SteemPress. Then both the committee and the community can read what plans the receiver has for using their delegation, how they intend to do it, and then hold them to account accordingly and/or provide feedback on how the voting guidelines could be more effective or the policy more positive.

palnet, sct, and steemleo? avoid such favoritism in the future. Complete impartiality is needed.

We were kinda torn about it. The goal is to spread this to as many people as possible, so I added the three largest tribes. If we don't include it gets fewer eyeballs. If we do include it may seem partial. On this post we decided to try it and see the feedback.

Well done. This will give some real insight. I like the question what the delegation will do more then a burn. Exiting times ahead. I hope soon some real new projects get what they deserve

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I’m very curious to see what ideas are gonna win out for delegation and just how much they’ll help Steem.

At the minute NextColony is a favourite of mine but I haven’t seen all the delegation ideas yet.

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