Upcoming Changes to TradeQwik VotingsteemCreated with Sketch.

in tradeqwik •  last year

This is up and coming and is not yet deployed functionality.

There is a bit of confusion as to what is changing at TQ in terms of the voting system and I want to take a moment and explain it.

We are moving to a weighted voting system to direct the power of the @tradeqwik voting whale.
This weighted system allows us to automatically upvote those people who are helping TradeQwik the most.

First we weight the vote by number of TQS held. 30%

Second weighting is Crown Holders, ordered by number of VIVA Crowns held 25%

Third weighting is daily trading activity, i.e. VIVA exchanged, 20%

Fourth weighting is absolute number of VIVA held, 10 %

Fifth weighting is for VIP holders not in Drawdown Mode, 5%

Sixth weighting is for holders of TRAIL tokens, 5%

This is 95%, the remaining 5% will be used for posts you've upvoted as follows...

The top individual holder in each category will have their posting history scanned and the most recent article they have upvoted which is not their own, will receive a vote from us.

The voting break down looks like this...

TQSCrownsVolumeVIVAVIPTRAILChain
30%25%20%10%5%5%5%

Every post upvoted by us will receive a comment similar the ones used by the other voting trails i.e. (You were selected to receive an upvote by your friends at TradeQwik.com the only exchange that powers up our cold wallet and uses it to upvote our best customers, please upvote this comment if you'd like to help the project) or something along those lines.

All voting is of course subject to available power and we may need to adjust this formula as time goes on.
The final formula will be determined by Joe, Rick and Fernanda, but I'm testing with the above formula to give us a base to work from.

The goal here is to not let any of our voting power go to waste while at the same time enriching the lives of every customer of TradeQwik and doing so equitably.

This all goes into testing soon. Once we announce general availability, check your account management page for a "steem id" and a "golos id". Once you set that, it will cause us to follow you and add you to the list (as soon as we detect you are following us as well). do not add a name that is not yours since this system will have a side effect of locking in your withdrawal address for steem and sbd.

I have two more surprises that we haven't talked about yet in the works.
The first is the return of daily transparency reports.

The new reports will be automatically generated and posted and include all the information that they used to.

This means, customer funds under management, trading volume per pair, total deposits and withdrawals for the day etc.

These will also include links to posts we upvoted in the order that we upvoted them.

One final thing, we're also bringing this same functionality to golos
https://www.golos.io/@tradeqwik

So Happy Trading!

p.s. As always, this posting is 100% steem powered!

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Hey mr @williambanks I know you are extremely busy but please could you send me a message when it is a good time to actually chat with you. I have an idea that I want to run by you...

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@giantbear the best way is email wbanks@vivaco.in and I always have time for old friends.

I haven't really studied how this might work. But a question first: since Steem is all transparent but Viva/TQ, at least for now, is not. So, in the future when this mechanism is put to work, then people can somehow estimate how much stake the upvoted user has inside this VIVA system. Is it correct?

I am not really against more transparency inside the VIVA system, this is just a question that pops into my mind when I am thinking about the upvotes from TQ.

Thanks for your hardwork! Dean

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Steem is only steem. VIVA and TQ have a lot more than just steem involved and so we have to balance transparency and accountability with a desire for privacy that is inherent in finance. This is one reason I'm advocating the formula. You'll know why you're getting an upvote, but no one else will know why.

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You'll know why you're getting an upvote, but no one else will know why.

this sounds so crypto-style! XD. thanks for the answer.

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You're very welcome!

  • First we weight the vote by number of TQS held. 30% : Should be 30 % if you own more than 20 TQS

  • Second weighting is Crown Holders, ordered by number of VIVA Crowns held 25% : should be 25% if you own at least 1 crown, otherwise you make the rich richer, which is not the vivaconomy phylosophy.

  • Third weighting is daily trading activity, i.e. VIVA exchanged, 20% ; usual citizen has a low trading activity. Do you want to favor speculators ?! could be in monthly volume.

  • Fourth weighting is absolute number of VIVA held, 10 % : money is done to be spent, otherwise it is sleeping energy.

  • Fifth weighting is for VIP holders not in Drawdown Mode, 5% ; this is not fair for retired people :)

  • Sixth weighting is for holders of TRAIL tokens, 5% : I understand that Joe is both a co-founder of Steem-Trail and a TradeQwik employee but I do not see the logic behind this case.
    Thank 's to @tradeqwik for upvoting my posts on a regular basis for the last three months.

Thanks for sharing this knowledge my friend.

güzel

Very appealing and informative post shared followed . @williambanks Wish you the best with all your future endeavors.

This really looks like a cool and awesome development, although to be honest,i dont really understand much...good job to the organisers☺

Thanks for the breakdown, @williambanks! That's a great explanation for the fomula.

One question - I have had some Crowns show up in the hold column on my Dashboard. I'm not sure where they came from. Help...?

Hello @williambanks, just got back on the net and steemit. glad to see you posting, I figured you were in a viva cave locked up and hidden, lol, i know your a busy man, Good luck ! I think all you folks are doing GREAT Work! Looking to be a vivo asap ... would like an update ... on worker nodes .. been awhile since I heard any news ..