What Will I Learn
- How to create a barter offer to an invite to automatically exchange upvotes between Steemit accounts for an agreed upon duration on the newly developed web app SteemAX.
- Some of the ways SteemAX benefits the whole community.
- A list of high quality Steemit content creators who already know how to use SteemAX and are looking to accept invites from other authors who also make quality blog posts. Make sure to utilize this list to get a head start on creating exchanges.
This tutorial has been purposely formatted and outlined to be compact and concise yet very informative. Instead of asking the reader to laboriously examine paragraphs of instructions this tutorial is laid out in a bulletin, step-by-step format.
- In order to use SteemAX you must have a Steemit account. Sign up to Steemit and start earning cryptocurrency for your quality content right now!
- Once you have your Steemit password, use it to log into SteemAX to authenticate your account and grant SteemAX the authority to exchange your vote.
- To utilize this tutorial you will need to have received at least one SteemAX exchange invite. Read more.
- Basic. Although understanding the inner workings of an exchange can be involved, it's not necessary to use SteemAX.
How To Barter
One of the coolest features of SteemAX is the ability to barter. If someone sends you an invite to an exchange that you're not completely happy with and you feel you might agree to different terms, you can send the invite back as a new invite with the new terms.
Bartering on SteemAX is very similar to creating an invite. If you aren't already familiar with how to create an invite by setting the percentage and ratio of the exchange, then please be sure to read to tutorial on how to create an SteemAX invite before proceeding with this tutorial.
The most important thing to understand when bartering, accepting or canceling is that the SteemAX website only creates and displays the invites. For security reasons it does not activate/cancel or send them. To do this you must send $0.001 SBD or more to @steem-ax with the unique exchange code and it's relative command in the memo field (usually called a memo id code). Here's how to do this.
1. Visit SteemAX.info/@your-steemit-account-name
This page shows a list of all the invites you've created as well as the ones that have been sent to you. You can use this page to copy and paste the memo id codes for accepting, bartering and canceling an invite. You do not need to login to this page in order to see your invites. In fact, you don't even have to visit this page at all. You just need to know the format of the command and the unique exchange identifier, which is included in the invite in your wallet. However the website formats this command for you so all you have to do is copy and paste.
2. Click the "Barter" Button on the Invite
This will bring up the barter pop-up box with fields for inputting the new percentage and ratio you'd like to offer.
Enter the new percentage of the inviter's upvote that you'd like to exchange. This must be a whole number (1 to 100). The inviter is always the one who started the exchange. If you are not the inviter but would like to create an exchange using the percentage of your upvote then cancel this exchange and create a new one.
Now enter the new ratio. The ratio is always adjusted as X to 1, where 1 is the invitee. The inviter is always the one who started the exchange. X can be any value between 0.001 and 1000. In other words, ratios can be anything from 0.001:1 to 1000:1.
Now select a new duration. This is pretty straight forward. Just select from the drop down menu how long you would like this exchange to last.
6. Click "Create Memo Message"
This will send you back to the main page and the memo code will be revealed in a box below the invite. Attached to the memo code will be the barter command along with the new parameters. Be sure to copy the entire string.
7. Send $0.001 SBD or more to ▶▶ @steem-ax ◀◀ (Notice the hyphen!)
SteemAX takes no fees and the amount you send is directly forwarded to the other party.
In order to securely authenticate a SteemAX command, open your Steemit wallet and click transfer on SBD. Do not send Steem, only SBD. Paste that memo code into the memo field. Be sure to send it to @steem-ax.
The other party will get an exchange offer in their wallet very similar to the one you received but with the new terms of the offer. They simply have to send the accept memo code to start the exchange, or they can also barter in return. Bartering can go on indefinitely until someone either accepts or cancels.
Once SteemAX has processed your barter message, the status of the exchange will update to "pending" on SteemAX.info/@your-steemit-account-name.
SteemAX was designed this way because:
- The only polite way to send a message to another Steemian on the blockchain is via the memo field when sending funds.
- Requiring a monetary send deters spammers from using SteemAX to gain exchanges for spam accounts.
- SteemAX only has permission to vote on behalf of your account, and never has permission to transfer funds.
See Your Exchange History
Once you have entered into an exchange be sure to:
Here you will see a history of your recent exchanges, which include details about the exact vote values exchanged (which depends upon the current vote power of both accounts), the account you made the exchange with, and the exact time the exchange took place. By putting your cursor over the account name (or by clicking the account name) you can see the post which got the upvote.
How Does SteemAX Help the Steemit Community?
A Deterrent to Self Upvoting
Since Steemians can trade their vote at disproportional ratios, they can seek profits above and beyond what self voting could achieve, thus eliminating the temptation to self vote.
Solves the Problem of Quality Control
Because SteemAX requires each exchange to be mutually agreed upon, someone entering into one is most likely going to ensure that the overall quality of the other account is beneficial to them in an exchange. This is opposite to a bid bot which is blind to quality and only ensures a particular post gets seen. For instance, if invited to an exchange it's wise to see if every post created by a particular author is of sufficient quality and earns enough for the exchange to be beneficial.
Better Relations With Your Fellow Steemians.
A minnow newcomer can use SteemAX to create a following and start earning Steem in a much more natural way then by buying their way into the Trending category. As a matter of fact, SteemAX could be used to strategically launch an account and start earning Steem with almost nothing to start: they just need the time to create the exchanges. This time must be spent interacting with other Steemians in order to build the rapport necessary for them to accept an exchange invite, which is a much more organic method of creating loyal followers anyway.
SteemAX is an open-source project that was incentivized by Utopian.io, a major Steem blockchain organization that rewards developers for their work after a careful review and analysis. In other words, many Steem developers have and can look at the source code for SteemAX to ensure it's fairness and security.
This is just one of three tutorials in this series. The other two are:
This tutorial includes information on understanding the exchange process and the basics of the invite parameters such as percentage, ratio and duration.
This tutorial includes a deeper understanding of the exchange process such as how posts and votes are determined as eligible, and goes over the benefits of using SteemAX in greater detail.
3. How to Barter or Cancel a SteemAX Invite
This tutorial explains how to make a counter (barter) offer after someone has sent you a SteemAX invite.
Get Started Making Exchanges
Now that you know how to use SteemAX to create, accept and barter, you can get started making exchanges with these Steemians that are already active on SteemAX and also looking to make exchanges with quality content creators like yourself. Add yourself to this list by simply leaving a comment to this post!
And me too:
You can also see a list of active SteemAX users by visiting https://SteemAX.info/history