Monitoring HardFork 20 - Voting Power, Mana and Rewards Pool Change

in #steemit6 years ago

After HF 20 bumpily found its place on the Steem blockchain, I monitored some of the newly introduced features (or tried to understand their consequences). I use my own tool, steem.supply, something that I initially designed to monitor only the rewards, but eventually it became some sort of a niche block explorer.

Here's how my profile page looked in steem.supply a couple of minutes ago:


Screen Shot 2018-09-27 at 11.19.33 AM.png


Voting Power

It looks like there was a bug in the implementation of voting power after HF 20. After the first vote, the voting power was decreasing drastically (sometimes back to 0) but then it started to pick up normally. I expect the voting power to come back at the previous levels in about 2-3 days. That obviously depends on the user still voting during this interval, hence depleting the voting power even more.

Mana

The main bug in the HF 20 implementation was random assignment of mana to user accounts before the enforcement. For some reasons, users who had a consistent activity in the day before the hardfork were assigned negative mana. That made posting and interacting with the blockchain impossible until a fix was released and all witnesses implemented it and replayed the entire blockchain (which delayed things quite a lot).

At the moment of writing, it looks like mana is working. From my observations, it regenerates slower than voting power, but then again, this is subject to many other factors. I expect to have full mana in about 3-4 days.

Rewards Pool

At the moment of writing, the rewards pool is at an all time high, 785k+ STEEM and growing. One of the causes may obviously be the lack of interaction during the initial launch of HF 20, but my hunch is that the reverse auction modification also plays a role.

Steem implements a "reverse auction" for votes placed immediately after a content is published, to discourage gaming of the platform.

So, until HF 20, if you voted immediately after a post was published, your curation rewards were basically wiped, or equal to 0%. The curation reward grew gradually for the first half an hour, until it reached 100%.

Also, until now, if an author was voting his own post in this window, he could get the curation reward as well as the actual rshares from his own vote.

HF 20 changed that, and here's how:

  • first of all the reverse auction window is now 15 minutes instead of half an hour
  • author curation is now going to the rewards pool instead of the author account

I suspect many users who are voting their own content don't know about this change and they are still upvoting their own content and expecting the curation reward to come in as well. What happens is that this part is now redirected to the rewards pool, so they will have an interesting surprise after a week or so.

SBD Rewards

I already wrote about it yesterday, but I think it deserves another mention. The blockchain will reward in SBD only until the debt to ownership ratio is at 9%. Then it will linearly go down until the debt to ownership ratio comes to 10%. So, in order to have 50% SBD and 50% STEEM, the debt to ownership ratio should be at 9.5%. Currently, this rate is around 6-7% and going up.

If you see something new or have a specific question, please ask it in the comments.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.


Dragos Roua


Wanna know when you're getting paid?

I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards

It's free to use, but if you think this is a useful addition, I'd appreciate your witness vote.

Thank you!


Psst: new to Steemit? Start Here


Sort:  

OK I'm seeing different things told about the self upvote. Can you never earn curation off a self vote? , or is that only during the first 15 minutes and then you get curation rewards like anyone else?

TIA

Posted using Partiko Android

Just during the first 15 minutes.

Very insightful - thanks for looking into this so we don't have to!

Can you please explain whether the RC “cost” of various actions is still being determined or whether what we see now is accurate? I’m ok because I have fairly high sp which means high RCs, but right now plankton with fully recharged RCs can only comment twice before reaching complete depletion again.

Also, can you tell us how long it takes RCs to recharge. I thought it was 24 hours like VP but am now hearing it’s actually 5 days.

Posted using Partiko iOS

I just posted something on my blog which may give you an answer to the first question. As for the second, I think it's 5 days until we reach the 'equilibrium', and the regeneration takes 24 hours. But I might be wrong, so I'm not 100% sure.

Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 2 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.

I upvoted your contribution because to my mind your post is at least 14 SBD worth and should receive 209 votes. It's now up to the lovely Steemit community to make this come true.

I am TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!

Have a nice day and sincerely yours,
trufflepig
TrufflePig

Thank you for the update @dragosoura. That is why you have my witness vote.

You spend the time trying to figure this stuff out and relay it to us. That is crucial since communication seems to be something that is lacking.

Thank you for the witness vote, highly appreciated :)

I'd like to point you to @reggaemuffin's ideas on how future hard forks should be handled:
https://steemit.com/witness-update/@reggaemuffin/witness-statement-for-reggaemuffin-proposing-hardfork-adoption-requirements
It might be quite technical but nonetheless important.

Thanks for the update @dragosroua!
Was indeed surprised this morning when I did vote and my VP was halved. A very announcing bug. Glad to see how many action you are allowed with the current mana one has.
Will try to upvote this post and see how my VP reacts again. According to your post, only 2% should be deducted! Let's try!

Cheers,
Peter

Thanks for covering everything, now I know, I was wondering why I got SBD rewards and what's going on.

@dragosroua currently in your estimation how long will SBD be in the payout until it hits the 9% threshold again ?? a Few Months or Longer ??

a few weeks, probably 2 months max

Thank you for your reply, I was sort of thinking it would not be very long..................

Is there a way I can really understand the debt/ownership ratio? Is it a general blockchain issue or it is user dependent?

Debt to ownership refers to the ratio between the existing STEEM supply and the existing SBD supply. SBD is actually a debt instrument, and the debt is denominated in STEEM. SBD is not backed by real dollars, but by "$1 worth of STEEM". So every time you print SBD you increase the debt pressure on STEEM.

Oh I get it now. The system is being controlled so that debt does not exceed ownership. That's a wise one.

Coin Marketplace

STEEM 0.16
TRX 0.17
JST 0.028
BTC 69086.63
ETH 2471.20
USDT 1.00
SBD 2.39