This is a great initiative, and I am happy to see more being done to improve the connection with the international community.
One suggestion though. I think the program would probably be more successful, and be more fair to the original content creators if the translators gave at least a small percentage (maybe 10%) back to the original author.
I would tend to agree with this @timcliff - with perhaps one little caveat. If the post makes more than $10 then implement the percentage. I'm planning on joining @papa-pepper and @stellabelle with some of my articles. Granted, many of mine had no visibility because I was new and didn't have a following. Hopefully the ones translating will have better luck (or timing).
From my point of view after 1 month on steemit, my post is dead, financially speaking.
The odds of a translation getting a great payout are slim for the most part right now, so the translator is risking a great deal.
In my original post, I mentioned that if a translation gets a great payout, the translator would be free to share the rewards if they desired.
To encourage participation, I prefer a no strings attached agreement, since I get free publicity anyway, and now I have at least a chance of making something more, depending on the translation payout and the translators choice.
This method provides greater incentive for the translators, and my main goal is investing in the future of steemit and building our community, rather than the financial aspect.
This method was my choice to get the ball rolling, but every author can make their own decision on the matter.