Ok, I see what you're saying, basically delegate the reward pool to communities. Interesting idea, I haven't really thought about that before TBH. I already can poke some holes in it, how to choose which dapp gets the rewards etc. Competitions can be easily rigged when money is involved, and the reward pool can be worth way more than it is today. I rather give 100% control to the individual stake hodler then to rely on dapps to do the right thing. A stake hodler can be a dapp, if the dapp truly wants the power to upvote it can do a captial raise and buy steem.
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dApps are already empowered with large amounts of delegations from @misterdelegation. It will be interesting to see how they will manage increase in curation rewards.
This idea is just a framework for a new way to bring more value into the Steem ecosystem and also trying to solve some of the problems with the current POB system. Its not perfect, but I would like to have some more people think about it to improve it.
I have something like this in my mind. The inflation rate for the reward pool gets cut down to 3-4%. Witnesses are still getting rewards for signing Blocks maybe 1%. Worker Proposals from the Steem Foundation get also 1% for funding.
Voting on Dapps and Communities is also handled thru the Steem Foundation organisation. They would need to approve certain projects so that they become a legit Project on the Steem Blockchain. Since the people in charge in the Steem Foundation get elected by regular users on the Blockchain, there would be a direct link between users - Foundation - Dapps and the Reward Pool.
Every user who holds Steempower can than vote on these Projects to allocate e.g. 1% of the Steem reward pool to those Communities. And for doing so, every individual Vote on a Community / Dapp Account would also earns e.g. 1% curation rewards - depending on the success of the Dapp / Community he voted for.
Therefore every Dapp or Community will have the opportunity to get some funding in Steem Tokens to support their own SMT Token and Community.
This system would represent the Baselayer for what you can do with your Steempower - Voting for Witnesses, Voting on Worker Proposals and Voting on Dapps - This is a minimal functioning POB version on the Baselayer.
All other POB versions (like this EIP Proposal) are handled within in the SMT communities.
Like, I said this is just my idea, but I think its worth working on and promoting, because it is easy to understand for what Steempower is used for and also very transparent to investors, users and developers alike.