Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through regular upvotes to member content.

Sustainability Coverage and VP Management

Sustainability Coverage is currently at 89.02% and rshares reward rate is 712,147,210 per SBI unit per day.
The rshares reward rate for bonus units (delegation reward) is not decreased, but also returns curation rewards to our delegators. You can help increase the sustainability coverage (and thus the rshares reward rate on regular units) by delegating to @steembasicincome.
For more information, please read Into the Heart of Sustainability.

Upvoting Bonuses

Each time we receive author rewards for a post or comment by any official SBI account, we check the value that each member added to the reward. That value will be added to the member's balance, with a multiplier of 1.10x. This will return to 1.34x after VP reaches 80% again.

For example, if you upvote this update by $0.10, then $0.11 would be added to your balance when the post pays out. In most cases, this means that a vote for SBI is more profitable than a self-vote. You are rewarded directly for your contribution to the long-term sustainability of the program! You do still have to be enrolled in @steembasicincome to receive this benefit.

This is a great way to boost the Steem Power for program accounts. If your program (or account) does any self-voting to build a permanent SP base, please consider upvoting @steembasicincome each day instead.

We aim to post once per day, but you should set your auto-voters at a 2 per day limit to avoid missing some of our updates due to time zone differences.

(Official SBI Accounts: @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, @sbi6, @sbi7, @sbi8, @sbi9, @sbi10, @sbi-booster. Our automated system dynamically selects the best account to deliver your upvote at the time of upvote delivery.)

Steady Growth

We currently have 4748 members that have posted or commented within the last 28 days. Members that are not posting continue to accrue their voting balance, and upvotes will resume automatically when they return. There are currently 156289 subscribed units in the program, up from 150747 last time we published this report.

Support from Members

Thank you all for your support! Upvotes that we receive from members are an essential component to keep delivering a sustainable basic income! Our base SP growth is still partially dependent on our small self-voting percentage, but we hope to decrease that dependency as more members recognize the benefits to increasing their auto-votes under the new rewards system.

Here is a visualization of our incoming votes for the last week.

_{source: http://www.steemreports.com/incoming-votes-info/?account=steembasicincome&days=7}

It is important to note that this 10.5% self-vote means that 10.5% of our received upvote value was from our self-votes, not that 10.5% of our voting power was spent on self-votes. In fact, we only spent 2.29% of our voting power on self-votes, and we would be comfortable with spending 10%.

This shortfall is an unfortunate side effect of our low VP, and the impact becomes more apparent when we see the trend of our SP rewards over the last month.

_{@steemsql data visualized in Power BI by @josephsavage}

This is a trend that I'm not happy about. In addition to not being able to fully self-vote to our target percentage, some of our larger members are upvoting less because we are unable to deliver large enough max upvotes per post. We are working to recover our VP without having negative impact on our Sustainability Coverage (increasing our leased delegation would boost our VP, but also increase our lease costs, which decreases our Sustainability Coverage).

Enrollment

If you want to get involved, or to increase the share of basic income that you receive, enrollment is pretty straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 unit in the program. You can sponsor any active Steemian, it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
https://steemit.com/busy/@steembasicincome/transaction-memo-guidelines

The official currency for enrollment is STEEM. If we choose to accept SBD without refunding it, you do not receive extra value for it.

Enrollments are processed automatically every 144 minutes. Currently only newly enrolled accounts are receiving welcome transactions, but we are working on finalizing automated delivery of confirmation transactions for all enrollments, even when sponsor and sponsee are both already enrolled.

Questions about Steem Basic Income?

Please read our recently published FAQ. Most questions are addressed in our FAQ or in the additional resources that it suggests. If you still have questions, ask in the comments section or join us in our discord channel. To review your counts, check out our member lookup tool.

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