The initial idea was for Steemit Inc to fund with 6M STEEM. I'm not sure what exactly happened, but right now the SPS will be funded with 200k STEEMfor the start as a test.
I do think they will fund it afterwards with some more, but the idea is to redirect some of the already existing inflation towards the SPS. There were already a lot of discussions between witnesses and other stakeholders on what the best inflation source is and it seems that the majority (incl my vote) is for redirecting 10% of the rewards pool (author & curation) towards the SPS. (Nothing set in stone though)
Like you said, we need to continually keep up with other startup chains, etc. Tapping into the Steem community to get stuff done if an absolute must in my opinion and move us more independently away from Steemit Inc.
Yes! People generally need structure and since Steem has a lot of decentralised leadership, the SPS will be a great tool & asset.
Awesome. Thanks for your detailed reply. I like the idea of redirecting 10% of the rewards pool toward the SPS. On face value, many will think that seems really high but imagine what could be accomplished in such a short period of time with that amount of Steem. Oh, it would be glorious. I would rather get less rewards but the price of Steem start to increase again and get more people and companies on the Steem blockchain.
Not that you need it, but you just got my witness vote.