STEEM Rewards Pool Over $2 Million And Other Interesting Tidbits
Following the appreciation of STEEM, the internal rewards pool is now over $2 million.
But in absolute numbers, meaning in STEEM, the rewards pool is shrinking. Last week it was over 712,000, now it's hovering around 703,000. The rewards pool size varies because of several reasons, but probably the most important is that some people never get to claim their rewards, which are remaining in the pool "for ever". The fact that it's shrinking now is a clear sign of sustained activity (no wonder, looking at the current price of STEEM).
Another effect of the appreciation of STEEM is that now you get a little over 4 STEEM for 1 SBD. Yesterday that number was over 5.
Also, worth noting is that the rewards split gap continues to widen, inching towards 70/30. Right now you get 69.21% SBD and 30.79% Steem Power (even if you choose 50/50, this gap is generated by the adjustment of price feed bias by witnesses).
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If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
Is there a maximum for the currency split or could it theoretically go to 99/1?
if it goes to 99% it means the debt-to-ownership ratio is to the Moon and basically STEEM has been replaced by SBD.
SBD peg is not backed by real dollars, it's a debt instrument, it's backed by "$1 worth of STEEM".
Does that mean that someday the reward pool will be super small?:)
In absolute terms, the rewards pool is filled every day by inflation, with around 43,000 STEEM. So if you multiply this by 7 - the number of days used as a buffer for rewards payments - you get a "minimum" value of 301,000. It could get to that size if voting activity will "drain" it completely every day (which doesn't happen now) and if all the leftovers will be claimed.
43000 steem per day created freaks me out a little bit. I hope the value of my small stack of steem doesn't get hurt
This is normal for any cryptocurrency - 1,800 new BTC are mined each day, 20,000+ new ETH are mined each day, etc.
STEEM is better than them and most others because 1. the rewards mostly go to content creators and curators rather than all to miners, and 2. Some of the rewards go to Steem Power holders as a kind of interest to compensate for their stake being diluted by the inflation.
You may not notice it, but your Steem Power goes up a little bit all the time without you claiming rewards or powering up or anything.
Thanks for explaining.
Do you know what the Steem inflation rate is and if its variable or fixed?
Thanks for this, I was going to reply too, but you beat me to it by a few seconds :)
Steem market size is increasing day by day. It's a great news....
Marketcap passed 1 billion Aussie dollars, which is pretty exciting for us down here :)
This is really great, one SBD is 13 now times the value of its peg but you get only 4 STEEM for it because even STEEM is now quite expensive.
These new and increasing prices are kind of a nightmare for several upvote bots on steemit who have to recalculate upvote percentages more often so that people get a decent return.
seem like steem is catching up to SBD, and i also noticed the reward split gap and was trying to figure it out, now i understand
so glad we have someone looking at this stuff. thanks for this daily information man, means a lot and it's work.
I still understand almost nothing about Steemit, but I'm learning
Steem rise up
Good post. Thanks for sharing