If I might be so permitted, I have a revision to strengthen the following paragraph:

As part of the application process every project that applies for a delegation must indicate their willingness to sign a contract agreeing that their business will continue to leverage the Steem blockchain as long as they are receiving a delegation and 1 year following the removal of the delegation. During this time they agree to advocate for the Steem blockchain as a valuable technological protocol that delivers unique value to application developers, regardless of whether or not any contract is signed.

Could read as follows:

Projects that qualify for delegation may be required to sign a business contract honoring their commitment to strengthen the steem blockchain. Therefore, as part of the application process, every project that applies for a delegation must indicate their willingness to sign a contract agreeing that their business will continue to leverage the Steem blockchain as long as they are receiving a delegation, and for 1 full year following the removal of said delegation. During the time of delegation, they will agree to advocate for the Steem blockchain as a valuable technological protocol that delivers unique value to application developers. Any revenue generation during delegation, and for a full 12 months after delegation, will be considered the property of the project or applicant only insofar as they have contributed a net positive revenue to the steem blockchain first.

The purpose of the delegation is to build up the platform by giving worthy projects an opportunity to help do so, while mutually benefiting from an increase in influence themselves.

Point being, applicants should consider delegation as a stewardship, rather than a personal business investment. And treat it as such. So I think there needs to be an actual contract, and I think the language of the contract needs to have adverse effects if the person takes advantage. And the definition of "taking advantage" needs to be clearly defined and understood.

It is another thing entirely, if they do not deliver, despite best efforts. Which is where a quarterly evaluation comes into play.

In essence, I hate to be a hard nose, but the contract should benefit steemit or the welfare of the blockchain first. Then, if appropriate, and as a byproduct, the project holder. But the purpose of delegation should not be to boost one's self. It should be primarily to boost the blockchain. Period.

This should not be approached as a request for a business loan or investment, to strengthen oneself, as much as it is a request to use one's own project to boost the blockchain. And strengthen onself in the process, if need be. But only if it has a net positive effect on the blockchain.