Share2Steem Fundition Update #8
APR and Sponsors Systems Changes, Updates to come
Welcome to the 8th Update of the Share2Steem Campaign powered by @Fundition.
In this post, we will speak about the latest updates made by the Share2Steem team and give a preview of what is to come.
You will also find some statistics, useful links and instructions on how to delegate to us or support the project via our Fundition Campaign.
APR System Switch
As announced in the Fundition Update #6 and Fundition Update #7, the Daily Payouts system is changing and the new system is now fully in effect.
Below, a quick summary of how the new system works (a detailed post will soon be made with code excerpts and exact formulas for people interested in how it works from a technical standpoint).
What's being put in the Buffer ?
- All liquid part of benefactors rewards, when distributed to @share2steem after a post payout.
- 80% of Curation Rewards, after the weekly powering-down is effective (every week, 80% of Curation rewards made during the previous 7 days are powered-down), so there's a two-weeks delay time : one week for the curation rewards to be earned from the post, and one week for 80% of these rewards to be powered-down and transformed into liquid STEEM.
- 80% of Benefactor Rewards (the Steem Power part of benefactor rweards - fees taken on posts), with the same remarks that just have been made for Curation rewards.
How is the buffer distributed ?
Every 5 minutes, the STEEM and SBD balances available on the Share2Steem account (also called Buffer in this explaination) are written into the Database, after pending payments for sponsors are substracted (see next point).
When a payment needs to be made to a delegator (24 hours after his last payout), means of STEEM and SBD available on the @share2steem account in the last 14 days are calculated. These means are the base amounts of the calculus.
Base amount = Minimum of the 14-days Mean and current balances of the @share2steem account
Delegators' Share = 70% of that Base amount
Individual Payout = Delegators' Share * Percentage of SP delegated by the delegator compared to all SP delegations
This determines the amount due to the delegator (in STEEM and SBD).
The transfers are then made and the residue is kept in the Database to be added to the Individual Payout on the next Payout.
At midnight (GMT +2), the base amounts are calculated (as in the formula just above) and 20% is transfered to @algo.coder (that will be used to cover expenses) and 10% to @share2steem.fund (that will be used for promotion and campaigns).
Changes expected
The APR from the Buffer system is now superior to what was before with distributing only Benefactor Rewards made during the day.
It should continue to grow with Powering-downs continuing as only 2% of the Buffer is distributed every day and Powering-Downs only started 4 weeks ago and a 14-days mean is used for calculation of the base amount.
The goal is to have a stable and sustainable APR that will grow with more users adopting Share2Steem. Of course, some drastic changes in value will happen in case of important delegations coming in or out. But with all staying equal, this new system will allow to have a stable APR while our main source of revenue (benefactor rewards) stays erratic and subject to a big daily variance.
The Statistics are now correct on the website and the new APR is now taken into account for the calculator on the Home page.
Sponsors System Switch
The Sponsors System is also changing due to the confusion it sometimes created for new users to see a beneficiary on their posts other than @share2steem.
From now on, @share2steem will be the sole beneficiary on the posts made through the applictaion, and will handle transfers to Sponsors after post payout is received.
A detailed post will be made to explain in depth how the system works but to sum it up :
- When a user posts through the Share2Steem application, @share2steem is put as a beneficiary for rewards on that post, the fee depending on the features activated by the user, for more information on that, see the Fundition Update #6 explaining our Freemium model.
- When the post payout is received, 25% of the liquid rewards (either it's STEEM or SBD) are credited to the sponsor's account if the author of the post has a Share2Steem sponsor.
- If the amount due to the sponsor exceeds the minimum transfer amount on the blockchain (0.001 whether STEEM or SBD), the transfer is made to the sponsor. The residue(s) is(are) kept in the Database and will accumulate until a transfer can be made to the sponsor.
Coming in the next few weeks
1) Change in the Auth System
All login will continue to happen via SteemConnect as everyone trust the service. But instead of getting an Access Token from SteemConnect and then broadcast the operations through their API, users will delegate posting authority to @share2steem (that operation will be made through SteemConnect) which will then take care of broadcasting the operations to the Blockchain via the nodes. The goal is to diminish the third-party services we rely and depend on.
2) Modification in the Cross-Post system
As some problems occured with Instagram and YouTube, we will work on authorizing automatic cross-posting without the hashtag like for Twitter, to not rely on indexing by Instagram / YouTube anymore.
3) Blogger Support for cross-posting
The next social network supported by Share2Steem will be Blogger. No ETA yet but we hope to implement in the next weeks.
4) New title system
A new title system will be put in place to avoid too much "XXX's Instagram/Twitter Feed". The custom title with square brackets will still override all other settings, but the script will try to choose a relevant title before resorting to default title or custom title defined by the user in its account's settings.
5) Business Model
Last but not least (but that will be the update which will take longer to implement), a whole new aspect of Share2Steem will be developed and implemented. I don't want to tell too much yet, but it will be complimentary to what is currently in place, will reinforce the community, allow further monetization of your social media activity, while diversifying source of incomes for the application and for delegators.
Statistics
We are proud to count 3 538 members.
These members posted 81 780 messages from social networks generating 40 746.16 $ in payouts.
Share2Steem application is ranked #6 in number of posts.
@share2steem account has 120 097 Steem Power, and our 100% upvote is currently worth 2.82 $.
Source : Share2Steem Internal Statistics
Want to Delegate ?
Delegators get Daily Payouts ! But also a bonus in the Leaderboard, implying bigger daily upvotes by @share2steem.
Want to delegate more (or less) ? Just copy and paste the link below, taking care to change the amout of SP you want to delegate at the end of the URL :
https://steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=share2steem&vesting_shares=youramounthere%20SP
Or go to https://share2steem.io and use the delegation tool on the front page !
Useful Links
Guide To Setup Share2Steem with Instagram EN by @AaronLeang (KR Version by @jaydih / Bahasa Indenosia Version by @alaikaabdullah)
Guide To Setup Share2Steem with Twitter EN by @AaronLeang
Guide To Setup Share2Steem with YouTube EN by @AaronLeang
Guide To Setup Share2Steem with Medium KR by @aaronhung
Guide to Create a New Account via Share2Steem and link a YouTube Account CN by @yuxi
Guide to Create a New Account via Share2Steem and link a Twitter Account KR by @jaydih
If you have any questions, suggestions, or simply want to encourage us, feel free to come to Discord !
Let's go ! https://share2steem.io
Thank you for the update! We are with share2steem.
Congratulations @share2steem! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Thanks for the update 💪
Posted using Partiko Android
Hope share2steem will be better 💪💪💪
Posted using Partiko Android
This project is being supported by @Fundition the next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain.
Read the full details of Fundition Fund program
Learn more about Fundition by reading our purplepaper
Join a community with heart based giving at its core
Fundition is a non profit project, by supporting it with delegation you are supporting 200+ projects.
50SP100SP200SP500SP1000SP2000SP5000SP10000SP