The Delegation Committee is extremely excited by this opportunity and are happy to get started working on a comprehensive approach to delegation. It's a great opportunity to serve on this advisory committee to Steemit Inc and help attract new users as well as accelerate the growth of existing businesses and communities to the Steem blockchain. We've already set a weekly meeting time, had our first meetings and agreed upon the following list of tasks that need to be accomplished and present the following as our approach. This should be read in conjunction with the original announcement.
Initial todo list:
- Common Communications account: @delegationtrust
- Existing Delegations
- Existing Delegations Re-Balancing
- Delegation Quarter End Re-Blanacing
- KPI Guidance
- Community Tier
- Application Fee
- Exisiting Delegation Renewals
- Process for Establishing Community Validation
- Notice of Committee Expansion and Application Process
- Screening Committee
- Roadmap
- Delegation Benefits to @delegationtrust
- Delegation Trust Community Standards
- Delegatee Standards
- Evaluation Process
- Public Communication
Common Communications account: @delegationtrust
@delegationtrust has been created as the public account for the Delegation Committee, and keys have been placed with eonwarped, starkerz, and aggroed.
All accounts looking for new and renewal delegation through their applications are instructed to add the #delegationapp
Existing Delegations Re-Balancing:
Current delegations of misterdelegation (Click 'Delegations' tab, and 'Outgoing', to see up to date stats):
| Account | SP |
|---|---|
| steem | 2,909,546.604 SP |
| spaminator | 2,748,111.781 SP |
| dtube | 2,060,054.658 SP |
| oracle-d | 2,034,884.356 SP |
| utopian-io | 2,021,972.381 SP |
| steemcleaners | 1,545,039.920 SP |
| steempress-io | 1,023,868.355 SP |
| steemhunt | 1,023,868.329 SP |
| fundition | 1,023,267.027 SP |
| tasteem | 1,023,266.990 SP |
| busy.pay | 515,568.457 SP |
| esteemapp | 515,014.053 SP |
| mack-bot | 259,722.105 SP |
| blockbrothers | 76,308.168 SP |
| steemitboard | 30,492.054 SP |
| bittrex | 10,257.270 SP |
| poloniex | 10,257.270 SP |
| deepcrypto8 | 2,021.192 SP |
| binance-hot | 202.119 SP |
As mentioned by Utopian in this post we will request the removal of the delegation on July 31st.
With the existing delegations in place there is currently 249,789 unused Steem Power on @misterdelegation.
Existing Delegation Re-Balancing
As mentioned in the new delegation process post,
Projects with existing delegations will be re-balanced in order to fall in line with the new Tier system. In order to accommodate projects with existing delegations that exceed the new Top or Mid-Tier amounts and have on-going obligations to clients that are based on their current delegation, there will be a quarterly step-down in delegation sizes for these projects until their delegations align with the new Tier system.
The first delegation step-down's will begin at the start of the 3rd quarter on October 1st, 2019. We will have reviewed all existing delegations prior to that.
We're targetting August 9th to release the Delegation Renewal Application.
Renewal Applications will begin in August. Exact dates to be provided next week.
Delegation Quarter End Re-Balancing
On October 1st all existing projects will have the first delegation reduction of existing delegations take effect. For delegations that have been approved existing delegations will move closer to the maximum of their approved tier.
KPI guidance
We would like to inform people searching for delegation of what we currently are valuing the most as we review delegation requests. These are not formal KPIs as these aren't quite metrics, but you can use these objectives when designing your measurable KPI. These are generic. You'll need specific ones when applying:
Revenue Generated- How much revenue does your business generate?
Burnt Steem- Do you have a portion of your operation that burns Steem?
Powered up Steem- Does your operation power up or facilitate people powering up steem?
New Members- Does your business attract new members to the Steem ecosystem?
Retain Members- Does your business help retain Steemians on the platform and keep them active.
Activity on Chain- Does your business create a meaningful amount of meaningful transactions on the platform? (comment and wallet spam don't count)
Eyeballs-Does your business impact the amount of traffic (views) on Steem?
Amount of Steem held by Users/Clients-How much Steem is delegated to your project to be managed on behalf of clients?
Community Tier
We hope to add a community Tier in addition to the Top, Mid, and Test tier. We'd like communities that aren't businesses to be able to apply for a delegation. We are still working on the details of how this would look.
Application Fee
We will be requiring an amount of SBD to be burnt (sent to @null) as an application fee for both new and renewal applications. A link to the transaction will need to be included in the application itself (edits to come soon).
The fee will be
- 100 SBD for the top tier.
- 65 SBD for the mid tier.
- 40 SBD for the test tier.
Existing Delegation Renewals
Businesses looking for delegation renewals will have to submit them in August. Failure to submit an application for renewal will result in forfeiture of existing delegation. We will supply a process for this shortly.
Renewal applications must burn the application fee for their target tier to be considered for renewal. Transaction ID will be included in the delegation renewal application.
Process for Establishing Community Validation
We will hold public hearings where a given project can pitch their project and where the community can give support and/or critiques. This will also help us determine whether or not a current top-tier project has the backing of the community.
We're still evaluating the correct timeline. We're currently considering biweekly public hearings so people with proposals can bring them in front of the committee and the public.
Notice of Committee Expansion and Application Process
The Committee welcomes a handful more people to volunteer. We're looking to expand to add more people. If you're interested, we'll make a post regarding the process and timeline. We want to get some initial pieces worked out and setup. We also want to remain cognizant of Steemit's request to keep the committee to three members, so we still need to work out details of what this might look like that satisfies the major stakeholders.
Screening Committee
We are exploring the idea of one or more screening committees. This will largely depend on the number of proposals brought before the Delegation Trust team. We will keep the community informed if we move in this direction.
Roadmap
Committee Member application process will be described in August.
Delegation Renewal Applications will begin in August. Exact dates to be provided.
Delegation Re-Balancing will occur on Ocotber 1st.
New Delegation Applications we aim to complete by October 1st.
Delegation Trust Community Standards
The trust of the community being paramount, the delegation committee agrees to abide by the following code:
Steemit has a large stake of Steem they are willing to use to incubate projects in the Steem ecosystem. They are allowing the Delegation Trust team to serve an advisory role. It is paramount that the team work openly, honestly, with good communication as the team does everything in its power to attract, retain, and expand businesses and communities on the Steem blockchain.
Community faith in this process is paramount to its success and the Delegation Trust team promises to act with integrity, honesty, dedication, and with Steem altruism as the core of what we do.
To be exceptionally clear the members of the committee are expressly forbidden from the following and Steemit is in their right to remove any committee member for performing the following at any time.
- No member of the committee will use the delegation process to trade for favors in any pubic or private setting.
- No member of the committee will vote on any delegation application where they have a direct investment of $500 or more.
- The committee at no time will use the @delegationtrust account for witness voting.
- Committee members at no time will use the @delegationtrust accounts or any associated accounts that come into creation to vote for private posts of any of the committee members.
Delegatee Standards
Any delegation received by communities and businesses is provided to grow the steem ecosystem and generally increase the utility, consumption, and use of the Steem token. Those that recieve the delegation are entrusted to use it in such a way that encourages powering up and/or burning Steem while attracting new people and retaining familiar ones. We want to see new businesses, more Steem powered up, burning steem, new people interacting with content on Steem, and meaningful transactions happening.
Projects that use the delegation for purposes not described in their applications, that distribute votes primarily to project operators, and that generally fail to meet any of the metrics will be warned, given a timeline and suggestions to improve, and those that still fail will have their delegation removed.
This delegation isn't your right. It's a privilege that can be terminated at any time. If you're not making Steem more valuable through your actions we'll make sure that the delegated Steem is placed on a business or community account that will.
Evaluation Process
We want to be as uniform and open as possible when evaluating projects for delegation. It's outside the scope of this initial communication, but we'll be working on a rubric (formal evaluation score sheet) that businesses and communities can see so that they know how we're evaluating them. It will also keep us consistent.
That said, not all rubrics are perfect or adapt to every situation. We'll use it as a strong guideline, but reserve the right where appropriate to consider more than what's in the standard approach.
Public Communication
This document serves as the first formal communication from the newly appointed Delegation Trust, which serves as an advisory committee to Steemit Inc. We'll continue to provide updates as they are available via this account.
Please be mindful of deadlines.
Edits:
- Added different fees for each tier.
- Fee is purely in SBD.
Love the application burn
Please either remove this, or set it to 10SBD as a "spam filter" for the test-tier applications. No early-stage StartUp or aspiring entrepreneur with an idea looking to do a feasibility test, would pay to make an application, especially not for the low tier delegation.
The application form for test-tiers should also be shortened, as no early-stage StartUp or entrepreneur with an idea should ever have written a business plan before testing the idea. (This would also reduce the work for the committee to valuate these proposals should they become more frequent at a 0-10SBD price).
Oh, and atm, most project will just by default apply for a mid-top tier. Which is silly. Lowering the cost for test-tier will make more ppl consider it for whom it is meant to apply.
$100 is far too high.
It's fine for the highest tier. The main question is whether or not it is necessary. I guess mostly to reduce the number of less serious applications.
My sugestion was to let the different tiers have different costand requirements. It makes sense as it also takes more time to vet and review larger and more complex businesses.
I think it is way too high, especially as people asking for delegation may not have very much SBD in the first place.
Paying to apply for anything sucks. 100, 65, or 40 SBD you have just priced many people out of the market.
Helping the rich get richer.
Cg
I think a sliding scale depending on the tier of the application may make sense.
This is what I had in mind. But the application form and KPIs should also change, at least between the lowest and the highest.
That makes sense.
We will introduce tiered fees/burns. Will update shortly.
I fully agree with this. The price should be made tier-dependent.
The fee doesn't go to them, this is a dumb take.
Wow, you are really, really dumb. The fee goes to @null and not only can no one ever access coins sent to @null, they are zeroed out every block.
lol
lulz
Who makes the determination about what is making Steem “more valuable?” How is this “value” being quantified? Which of the current delegatees are increasing the value of Steem? Is the original stakeholder, STINC, making Steem more valuable?
I am seeing nothing of value coming from STINC, the existence and operation of the misterdelegation account, this new delegation system and hype, or the very delegation protocols themselves.
The only thing I see is more circling of the drain for Steem, both economically and socially. You talk about onboarding and growing value and about privileges, community, and business...and I’m left wondering if any of you or the STINC sycophants even pay attention to what has been happening for the past three years, or if any of you even comprehend social media or commerce.
The most “prominent” person on this committee made it clear in back-room discussions many months ago that his main purpose - and likely, his sole purpose - for working with the Steem “foundation” was to gain control over STINC’s ninja-mine...specifically, the misterdelegation account. The same guy with massive conflicts of interest in all of this, who even has a guy on this same committee that does work for him on his personal projects. And we’re just supposed to trust that they will be honest and that everything will go well? That their actions will add some kind of “value” to Steem in some obscure way?
This would be hilarious if it weren’t so pathetic.
You want to add value to Steem?
Tell STINC to burn what remains of the ninja-mine. Stop diluting every other stakeholder’s influence with it on “projects” that have delivered no perceptible amount of “value” to Steem to date.
Oh, right. You’re not actually interested in improving the value of Steem. That’s just more of the same charade that the community has apparently grown numb to.
How refreshing!
!dramatoken
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Here's your
DRAMA. Don't spend it all in one place!To view or trade
DRAMAgo to steem-engine.com.Couldn’t imagine this process being more professional and transparent than this. From the KPIs to the scoring sheets to the burning of STEEM to apply... this is how it should’ve been from the start
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100% with you on this. It would be awesome if @steem.leo could get one of the community delegations.
Haha yeah it would be nice. We may apply for one someday. I definitely want to make sure that we have the tools in place to actually onboard new users with the delegation. That’s what we’re focused on currently. It’s vital that delegations are used for the purpose of growing Steem rather than just rewarding the current userbase :)
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I am really excited about the changes coming with this. More balance between dApps + more steem power for communities as well. That's what I really like here. @ddaily will be happy to send a community application as soon as you deliver more details about that.
Thanks for the great transparent work!
Peace!
Hi, I am missing from the delegation list, I believe the correct amount is 2.4 mil... thanks. 🤣
good idea, but better to burn SBD not Steem to decrease debt ratio. We're still close to the haircut (with btc price over 10k)
and if renewal is quarterly basis, $100 might be a bit expensive (initial app fee is fine)
This is true right now but unless they are going to revise the process every time the market moves that can't be the basis for the policy.
I think "$100 worth of STEEM or 100 SBD" would be a good way to go. This gives a small discount for using SBD when the SBD peg is under stress on the low side, and costs more to use SBD when the peg is under stress on the high side (which in turn discourages burning SBD under those conditions and encourages using STEEM instead).
hmm if $100 in "$100 worth" is real USD, then it makes sense. I thought it meant SBD. but well, in the haircut, why not haircutting an application fee a bit as well? :) Just in case, I'll not apply, but I'm sympathetic to people who're trying to save steem in those situation. I believe you also didn't expect that Steem faces another haircut when bitcoin is around 10k. In any case, it doesn't matter that much, so up to you guys.
You can't be serious?
What's wrong with it?
We will allow for burning both steem and SBD.Edit: Adjusted post to show fee in SBD only.
that's my point. it's much better to accept SBD only. The current sbd print rate is 18%, close to the haircut. Burning steem increases the debt ratio, while burning SBD decreases it. and feed price is changing, so to be precise, you need some system to show the current steem application price and accept/reject depending on that, you really need that?. personally i don't see any good to accept steem. but it was just an advice (i'll not apply). Up to you guys :)
It's not likely to be a major difference either way :)
I do like the idea of just doing SBD and not thinking about it though. Because it's more stable. (Though likely we'd still use the market rate and not a fixed SBD amount). Food for thought though.
Why bother? The goal I presume is to burn "some" Steem to help overall Steem economics (the exact amount doesn't matter) as well as serving as spam filter against frivolous submissions wasting the committee's time (again, the exact amount doesn't matter).
A simple requirement to burn exactly 100 SBD does both and is easier for both the submitter (to know how much to burn) and the committee (to check that the correct amount was burned).
The only situation where this is a problem would be if SBD goes on a big pump again, in which case it is better to not burn SBD at all and switch to STEEM. But we don't know if or when that will happen. It may be a long time or never.
Yes these are good points. I raised just taking SBD only, and we are in agreement with this now, will update shortly.
(initially the thought was that if we were to allow for both, then we anyway will need a price check, but if we can just focus on one, it's just easier overall, as you mentioned)
If you offer a choice and make the equivalence slightly higher for STEEM then the price check will be needed far less often but still address the issue of a large SBD pump (i.e. "100 SBD or $110 worth of STEEM").
Anyway, any of these should work.
Did you not mean, print "some" Steem, like the 30 million a year we print now? You know, to help Steem economics?
What are you guys talking about, 10 SBD / 100 SBD ???
SBD Pump?
As far as I can tell the main purpose of the fee is to prevent low-quality applications which would waste the committee's time. The burn part is a just a bonus. I don't think anyone expects there to ever be enough applications to make a meaningful difference to the overall supply.
Allow or start burning? There is 30 million steem added and growing a year to burn.
What are you waiting for?
To be fair, if you've got a delegation, 100$ isn't that much on a quaterly basis
exactly :) if you've got a delegation, as you said.
depending on the fee structure, it may favor existing projects too much.
actually quarterly renewal may be also too frequent.
personally i don't care too much about this process, but I just made some comments as a fan of steem.
But, if you need to renew you have a delegation anyways.
But if your point was that 100$ is too much for new applicants, I 100% agree
Nice work
Great work overall ! Looking forward to see the first results. Although I can't help but be puzzled by this part :
I get the whole "less supply + same demand = higher price" but asking "do you burn steem" as a kpi means "as a business, are you throwing money out the window ?" Which feels very weird and wrong. I'd rather have something like "how much of your monthly revenue is staked or how much of your monthly revenue is reinvested to grow steem (buying ads, paying devs, whatever)
Burning Steem is not 'throwing money out the window'. The concept of 'burning' is quite different when there is fixed or programmatic supply as compared to something like USD where if you burn it the Fed will just print more.
It is increasing the value of Steem which is the most direct and (probably only) provable way of returning value to Steem as a whole and to Steem stakeholders.
As I mentioned when this was discussed on the other thread, not every application or community will have a model where burning Steem makes sense but for those that do for example have a fee-based model, burning a portion of that fee revenue absolutely does provably demonstrate that some of that value is being reinvested back to the entire platform and its owners.
Everyone is free to run their business, project, or community without being given free delegation in order to boost their bandwidth access or influence without paying for it. Asking those that do receive free delegation to give something back (and, again, burning is only one way, not the only way, to give back) is entirely reasonable.
This is great news for the community :) We need to onboard people as quickly and efficiently as possible because that is one the biggest barriers to entry alongside a confusing and poorly designed graphic UI.
Different front ends like Steempeak have been able to remedy this but they need to integrate some of these features into the Steemit platform too!
We'll that proves it steemit is not my friend, one of their big delegations @mack-bot is the account that flags me all the time! @mac-bot!
The thing that I am iffy about are there are no provisions for Anti-Abuse projects like @steemflagrewards. We aren't a business but what we do helps legitimate business on Steem.
We could use a delegation to implement a flag and burn campaign against misuse of promotion services, spam or abuse outside of @steemcleaners scope and this would help the credibility of the entire ecosystem imho.
Hell, would love to go after higher stake spammers. We just need a bit more muscle.
Could we look into application process for projects that are not oriented around profit in which case many of these metrics would not be applicable?
I would love to keep doing what I do but without @utopian-io or another dev sponsor. Things look pretty bleak atm.
TL;DR: Anti-Abuse projects serving the community should have a distinct application process with minimal or no fee.
This comment has been reused from another post in lieu of reinventing the wheel. Thanks!
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Community Tier sounds very interesting.
Interesting.
I got mixed feeling about this.
How many STEEM startups would be able to flourish because of this. Just imagine!
I am a new in steemit
this is good aplication for all
thank you for sharing
how mach SP i can invest
Hi, @delegationtrust, I'm Joey Park, Community Manager on nTOPAZ. I'm just wondering that nTOPAZ has already submitted the application around a few weeks ago, so, do wee need to apply again? Please, leave a comment!
We will provide details on how to proceed, but are prioritizing getting out the process for existing delegations (new applications process should fall out pretty quickly from there.) So please wait until further communications.
Mackbot, Steemcleaners and Spaminator with a combined delegation of almost 4.5 million and the whole place is still full of shite and spam!
Surely with free downvotes coming after HF21, they won't need as much delegation!
:joy:
Why does @mack-bot get a delegation?
Better delegate to @steemflagrewards or @freezepeach
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