9.5% STEEM inflation per year gives around 60k Steem per day.
Then 75% of that goes to authors and curators pot with 75% of that pot to the post payouts. This gives around 34k. This seems to also tie in with the daily payout values I was calculating based on author rewards but I stand to be corrected.
I was under the impression that the Token Creation Rate is at 100%, from the whitepaper, where did you get the source of 9.5 creation rate (correction in your comment where you said inflation)?
Thank you for those figures, I need to contact someone who is in charge of the whitepaper as it should show the edits as new hardforks happen, it's imperative that the dinosaur we have as the whitepaper gets edited with every change to reflect the current state of the platform, it's obsolescence is going to lead to more and more confusion as the platform changes, that and the FAQ.
its 55K to author and curators (the rest is for pow mining and witness pay).
At least 75% of that goes to authors (41.25K). At most, 25% goes to curators 13.75K... but usually the authors get about half of the 13.75K due to reverse auction....
Hi @sigmajin I was second guessing the calc I had done but it seems to tie into what the data is showing. I made some roundings for simplicity in my original calc but the 41k + half of 13.75 it seems higher compared to the daily totals that were coming out of the data I was working off.
The difference in our figures seems to be the starting point 55k to authors and curators. The exact calc I was doing was is as follows
Calculate the Daily Reward Pool
Daily New STEEM: (1.095^(1/365)-1)*258,779,918 = 64,351 (which I rounded to 60 in my original calc) 258,779,918 is the Current Virtual Supply (from steemd.com) 9.5% is the annual inflation rate
This new STEEM is then split between miners, witnesses, SP holders and content creators and curators
The Reward Pool: 64,351 * 0.75 = 48,264 goes to content creators and curators 0.75 is the Reward Pool allocation (the other 0.25 goes to miners and witnesses and SP holders)
48,263 is the reward pool which is then further split between authors and curators as you have outlined which gives something in the 30s or low 40s to authors and this ties in with what the data is showing. The daily payouts to authors according to the data is in the mid 3,000s in early march which ties in with the price of 0.1 per steem. If the authors were getting 47k Steem then the daily reward should be showing around mid 4,000s daily payout which its not.
Any ideas for the difference and why your getting 55k as the starting point compared to the 48k I am getting?
That would be great, I stand to be corrected on those numbers. I don't think it takes away from the analysis though.I am going to rerun this over the coming days as the experiment progresses and see what its showing.
btw any ideas when the experiment is due to end? I have a great post I want to submit but I am waiting till it's over.
I did a very rough calc.
9.5% STEEM inflation per year gives around 60k Steem per day.
Then 75% of that goes to authors and curators pot with 75% of that pot to the post payouts. This gives around 34k. This seems to also tie in with the daily payout values I was calculating based on author rewards but I stand to be corrected.
Is the 43k including curation rewards?
I was under the impression that the Token Creation Rate is at 100%, from the whitepaper, where did you get the source of 9.5 creation rate (correction in your comment where you said inflation)?
hard fork 16? i think.
A fairly major change was made in December where the rate of creation of new STEEM was reduced from 100% p.a. to 9.5% p.a.
At the time there was also changes made to the distribution of rewards.
All of these happened in Hard Fork 16, there is an upcoming HF 17 where aspects are due to change again. I just found this post comparing some key metrics before and after the december HF which you may find useful.
https://steemit.com/steemit/@krnel/steemit-economic-changes-now-vs-november-16th-fork
Thank you for those figures, I need to contact someone who is in charge of the whitepaper as it should show the edits as new hardforks happen, it's imperative that the dinosaur we have as the whitepaper gets edited with every change to reflect the current state of the platform, it's obsolescence is going to lead to more and more confusion as the platform changes, that and the FAQ.
I agree, it's very difficult to track all the changes that have been made and the future proposals.
the whitepaper is outdated.
I know, I'll do my best to edit it next week.
its 55K to author and curators (the rest is for pow mining and witness pay).
At least 75% of that goes to authors (41.25K). At most, 25% goes to curators 13.75K... but usually the authors get about half of the 13.75K due to reverse auction....
so figure around 47K total author reward pool.
Hi @sigmajin I was second guessing the calc I had done but it seems to tie into what the data is showing. I made some roundings for simplicity in my original calc but the 41k + half of 13.75 it seems higher compared to the daily totals that were coming out of the data I was working off.
The difference in our figures seems to be the starting point 55k to authors and curators. The exact calc I was doing was is as follows
Calculate the Daily Reward Pool
258,779,918 is the Current Virtual Supply (from steemd.com)
9.5% is the annual inflation rate
This new STEEM is then split between miners, witnesses, SP holders and content creators and curators
0.75 is the Reward Pool allocation (the other 0.25 goes to miners and witnesses and SP holders)
48,263 is the reward pool which is then further split between authors and curators as you have outlined which gives something in the 30s or low 40s to authors and this ties in with what the data is showing. The daily payouts to authors according to the data is in the mid 3,000s in early march which ties in with the price of 0.1 per steem. If the authors were getting 47k Steem then the daily reward should be showing around mid 4,000s daily payout which its not.
Any ideas for the difference and why your getting 55k as the starting point compared to the 48k I am getting?
ill check, but im not as sure about the 55K number as i was when i wrote the response... it used to be on steemd but doesnt look like it is anymore.
That would be great, I stand to be corrected on those numbers. I don't think it takes away from the analysis though.I am going to rerun this over the coming days as the experiment progresses and see what its showing.
btw any ideas when the experiment is due to end? I have a great post I want to submit but I am waiting till it's over.