A Message to Utopian.io Team and to the Moderators.
There's Something Wrong in Utopian-io Computation System
I am one of the utopian-io contributors and I would like to take this opportunity to open-up this issue. I see this drained a lot of earnings from contributors, and that there's something wrong with the platform. The worst thing is, they are crucial errors.
Throughout my posts I'll be direct, I am good with 50% SBD and 50% SP reward system but if it will be computed very wrong, I'll suggest to remove that feature.
So this is the Issue I would like to Open
I noticed this in many of my utopian posts, and I am pretty sure this is also happening to a lot of contributors. To be honest, I am afraid to open this which is the reason why I kept silent despite of seeing it long time.
It would be better if I I'll show you a sample of my payout. Then, I'll identify the error.
I'll take this Sample Utopian-io Post to Show it.
That post is was worth around $54.00 back when it was around its pending payout period. Yes, I understand Utopian.io took 25% of the total payout (20% for Utopian Heroes and 5% for the Moderator) which is totally okay. I have no problem with it.
My Only Problem is the this One.
Yes. That's the payout I received on that Post.
This is the thing wrong with Utopian and to be honest, it hurts badly to the contributors. Here are the thoughts.
One. Utopian has already deducted their reward share (which was shown above), basically we can now forget the utopian share because it was already deducted.
Second. Look at the SBD Earnings, our main concern for this post. Steem Dollars is a US-Pegged currency and regardless of its value in external market, Steemit will always look on SBD as $1 per token.
Even if Steem Dollars is worth more than $3 now, SBD share (if we choose 50% SBD 50% SP), will always be equal to half of the Author's reward. So, since I have a 34.86 Author Payout, I should be receiving 17.43 SBD right? But look at my SBD earning above, it was only 8.714.
Now What Happened?
The SBD I received was only half of the $17.43 SBD as a reward - which is 8.714 SBD. Why did they cut that? Heroes reward & Moderators reward? It was already deducted! That was one issue I was wondering before, why it always went low when it reaches its payout. I now understood, but the latter part was really an issue.
Imagine the value of SBD right now, more than its value before was tripled! That another 8.714 SBD should be worth around $27 ! Because of this error, it drained the earnings of the people. Where did it go? Its really questionable. I have lots of utopian posts and is facing the same issues.
I hope this will be answered. Another question is if this is found as an error, will they be refunding the lacking SBDs? Because I believe Steemit didn't receive any of this, though I believe this is just an error. But again, it hurt a lot to the contributors.
I am Certainly Hoping for Answers
Guys, @elear, @mkt, @cnts, @knowledges, @arie.steem, @ruah, and to all Moderators out there, can you provide us your feedback? It is really needed, because there's a mistake in the computation or how it was made.
For me, it hurts a lot to the contributors who were putting their efforts and ideas for the initiative. I am certainly hoping this will be resolved. @utoian-io is an amazing initiative, things like this is really painful.
By the way, this is not a contribution and I am not submitting it
Please drop your thoughts. Thank you!
Hello the issue with the split 50/50 has been finally fixed few days ago. For the most recent posts (3 days) you should get the right split amount. Consider also that the beneficiary system on Steem takes the rewards from the author portion, so you always have to calculate less 15% the minimum, up to 25% less the maximum, since the beneficiaries in Utopian fluctuates based on the weight dedicated to the sponsors added as beneficiaries in your post.
Thanks @elear
Nice work, glad to see this fixed! Getting more SBD into the market is probably a good thing at the moment too.
I've been meaning to look into this also. This is what I've found.
In steemsql you can see that the percent_steem_dollars is set to 5000 (i.e. 50%) for utopian posts. Normally it's 0 (i.e. 0%) for fully powered up posts or 10000 (i.e. 100%) for 50/50 posts (yeah, confusing).
But I don't think you're missing out. You get 50% less SBD in your author payout but you get 50% extra Steem Power, so it's a 25% / 75% ratio rather than 50% / 50%.
I do not know why it's done like this. But I just went through an example and managed to make the numbers fit.
You're right that the utopian beneficiary payments (which I think are 20%) come out of the pending payout so the author payout is already reduced by this 20%. You can see it flick over if you watch a payout reach vesting:
I'll try to draw up a post on it.
@elear check this out. Thanks.
this is the right explanation @jassennessaj you still get the money.
Yes. Recently saw the SP. The only issue was the reward system was like 75% SP and 25% SBD. Thanks for always responding to concerns.
Yes. Although you don't get the SBD / SP split (50 /50) stated on the contribution form. With SBD currently riding high, it would be good to get this corrected. I think contributors are actually losing out quite substantially by being rewarded in extra SP rather than SBD, just due to the market level of SBD.
edit - cool, I see it's now been corrected! Great work!
You receive vests. Then vests are converted to sbd or sp. For example your post is at 100 vests after curation rewards. 50 vests goes to sp and 50 vests goes to sbd. The beneficiaries are 25% of your author rewards taken from the Sbd vests. So you get 50 vests in sp and 25 vests in sbd. Example exchange is 1 vest is 1 sp and 1 vest is 0.35 sbd cause of its market price. Do the math. You will really get less. There's nothing wrong with the computation. There's just something that can be done where the beneficiary rewards are taken. Maybe take it from sp instead. Or split it.
This is confusing since I heard that all beneficiaries are always payed out in Steem Power. In fact I read several times that people request a blockchain fork including to allow SBD payouts via beneficiaries.
Since SBD are so super valuable right now it hurts a low to post on Utopian.
It's confusing. Haha. I just read tiger's reply and that makes more sense since it's backed by checking the codes haha.
I guess utopian cut their part from SBD. I think that is why SBD lower than SP.
Hang on a sec; how are they meant to do that, the money comes straight to your wallet, I haven't heard anything about fees.
Have you raised this issue in the Utopian discord channel?
Cg
That works with the beneficiary system. When the post is being created on Utopian there are up to 8 beneficiaries hardcoded to the posts reward payout. Since there are many more sponsors Utopian is calculating the expected delegation and moderator rewards and defers the system by prioritizing the biggest sponsors and moving in the smaller ones when it is their turn.
meron na rin akong nabasa na nagpost about sa concern nya regarding dyan pero not sure kung anong nangyari. sobrang laking difference.
yay... sakit nun ..malaki binawas.. never pa ako nakapag post from utopian :(