Steem Blockchain: STU, Reputation, Author/Curator Ratio, etc.- Steemit Crypto Academy- S4W7- Homework Post for @sapwood
The following topics to be discussed will have to do specifically with STU, Reputation, Author / Curator, and how they affect Steemit. We will also talk a bit about the importance club5050 is having today, and what it was created for.
I openly recommend that you join this wonderful class, since these topics are necessary for all of us to learn, as well as the active participation of each of the achievements in the community of newcomers, since I am sure that you will have a better development within platform
(1) ¿What is STU? What is STU breakout? Take a real example to indicate the STU and calculate the different rewards that the Author and Curators generated from their last Subsequent Payment?
🟢 ¿What is STU?
STU is a term that not all of us know within the Steemit platform, but it is so simple that many times we do not realize it, which is an abbreviation of the word Steem token Unit which means the subsequent payment that we generate when our publication expires, and as we know from seven days our publication expires and we can collect the rewards we get for them. However, the rewards vary in several parts and will depend on how we accept the payment, which we must all be familiar with by now, but I will mention them briefly:
• 50 1% / 50 1%
• 100% Power Up
• Decline reward
When we publish in 50 1% / 50 1% we generate rewards obtained in three tokens, which are STEEM the platform's native currency, SBD which is the token that it maintains in balance the economy of this platform, and finally we have STEEM POWER which is the SP that adds to our account to increase our voting power within the community.
As we already know, when setting a reward at 50 1%/50 1%, the first 50% goes to the author of the publication, and the other 50% goes to the curator or curators who contributed to it, then we can say that STU is the subsequent payment that we receive in our publications, based on STEEM, SBD and STEEM POWER tokens. So this means that both the author and the curator receive rewards obtained by paying for a publication, the only thing that differentiates them is that the author receives rewards in STU, and curator only gets SP.
Remember that this term is only applied to past publications that obtain tokens in STEEM, SBD AND STEEM POWER, which means that 100 Power Up and reject payment do not count as STU, since they do not generate all these tokens.
🟢 What is STU breakout?
In the structure of Steemit blockchain, 1 SBD equals 1 USD, this was created in order to maintain a fair and balanced balance of the internal economy of the platform, however, we can be witnesses and affirm that for some time the STU had a big rupture, resulting in the SBD in the external market having a value higher than that established internally.
To see a real example of this, we can visit a page to check its current price, which is valued at $ 7.15. Which means that it exceeds its price six times more than that stipulated in the Steemit blockchain structure, which is considered as the STU break.
• Structure and internal market of Steemit:
1 SBD: 1 USD
• External market:
1 SBD: 7.15 USD
• Internal market from SBD to STEEM:
1 SBD: 11.907 STEEM
According to my own research study, and thanks to the Coinmarketcap platform, I can say with total basis and security that the breakdown of the STU began in 2017, when its price was rising by more than $1, reaching the 12/5/2017 at $2.95, and even reaching $ 13 that same year. From there, its rupture became bigger and bigger, which caused the economic structure of Steemit to gradually decline, and this is what we know today as the rupture of the STU.
From the beginning it was designed with that 1: 1 parity, but due to the volatile market for crypto assets, their value was increasing more and more, causing the internal structure of Steemit blockchain to completely misalign.
🟢 Real STU example
In this case, I am going to show a real example of my last post that was paid, to show in detail what the STU is:
We can see exactly the STU obtained from my last paid post, which was set to 50% / 50%. Which is distributed in STEEM, SBD AND STEEM POWER.
• Total reward: $ 43.47
• Author: $ 21.75
• Curator: $ 21.72
We know that rewards are reflected in USD, however their value is calculated in SBD and STEEM POWER, therefore we should not be confused with this.
🟢 How do we calculate the value obtained by the curator and the author?
As we have seen, my publication is set to 50% / 50%, which means that half of the reward goes to the curator and the other to the author, which in this case is me. In this case I will take the same example as the previous one, since it is my last most recent post that was paid
But we must be clear about a very important data, and that is that to calculate the rewards obtained from both parties, we must take into account the SBD printing rate, this is a very important data that not all of us take, but thanks to the platform Steemdb.io we can know. Currently its rate is 100%, which means that we will receive rewards in SBD and in SP.
We must constantly check it on the platform that Steemit offers us, for this and other tools:
In this case it would be:
• Author: $ 21.75 = 25% SBD - 25% STEEM POWER = 50%
• Curator: $ 21.72 = 50% SP (Curator only receives rewards in SP)
Now let's calculate the rewards obtained from each one:
• Author:
Let's halve the author's reward to calculate how much SBD and how much SP he got:
SBD: 25.75 / 2 = 10.873 SBD, which is equivalent to 77 USD, based on today's Steem dollar price.
SP: 25.75 / 2 = 10,873 USD, which is equivalent to 19,318 SP.
Remember that to calculate the SP that we obtain, it must be based on the value of the USD, after that we must multiply it by the current STEEM price at that time, which was 0.563 at the time of my conversion.
Therefore, we have that 1 USD is equal to 1.77 STEEM.
• Curator:
The curator received 21.72 USD, which we must multiply by the current STEEM price that equals 1 USD, that is
• 21.72 × 1.77 = 38.44 SP.
The curator received 38.44 SP.
We can verify this data in the history of my wallet, or of the Stemworld page.
(2) ¿Enter the Raw reputation score of your Steam account and calculate your reputation? Check it against the reputation score displayed on Steemworld.org?
The Raw percentage of my account in Steemit is 41,173,776,662,019, according to the tool that Steemit offers us, better known as Steemd.com, we can check it through the following link;
Now I am going to calculate my reputation with the very simple mathematical formula that Steemit provides us, which is:
Reputation = (Log 10 (Raw Reputation Score) -9) * 9) +25
Then we will do the following:
• Reputation = (Log10 (41,173,776,662,019) -9) * 9) +25
• Reputation = (13.6147) -9) * 9) +25
• Reputation = (4.6146) * 9) +25
• Reputation = (41.5315) +25 = 66.5315
So we can see that my reputation is 66531, if we went to Steemworld I could verify this data exactly:
And that's how easy and simple it is to calculate our reputation.
(3) ¿What percentage (of the Post Payment) was generated as liquid rewards (SBD) of your last Post in terms of equivalent in USD? Explain how the increase in SBD has changed the dynamics of supply. Based on your last subsequent payment, calculate the ratio of Author: Curator's Reward in USD equivalent terms.
The last post that I obtained rewards was the one of the previous examples, which I executed on 10/21/21, now we are going to see how many rewards I obtained in terms of SBD to equal it in USD and then get the percentage.
• Author: 21.75 / 2 = 10.87 SBD
At that time, the price of the SBD was at $ 7.15, which means that 1 SBD is equivalent to $ 7.15, therefore:
• 1 SBD = 7.15 USD.
• 10.87 SBD = 77 USD.
In the case of the SP obtained, we have a total of 19,319 SP, therefore, we are going to calculate the price of the SP based on 1 USD in Steem, to obtain the profits in USD:
• 19.319 SP / 1.77 (Equivalent to 1 USD in STEEM) = 10.91 USD.
In the case of the curator, his parity in USD is related to an equivalent of 21.72 USD, as the payment indicates:
If we carry out an analysis of all these data obtained, we can see that:
As we can see, through the following data it was possible to calculate 100% of the payment in USD for the entire post, which was $ 109.63. Now through a simple formula we are going to calculate the percentage of the SBD obtained in liquid form:
We must multiply our USD based SBD rewards by 100, then divide it by the total obtained from the rewards, that is our 100%. Then it would be:
• 77 × 100 / 109.63 = 70.236%
Which means that the percentage of our rewards in SBD in liquid form was a total of 70,236%.
🟢How the increase of SBD has changed the dynamics of the supply.
This is an issue that greatly affects the Steemit blockchain ecosystem, and that many times we do not realize it. Since its value increased significantly, the 50% / 50% rewards distribution is not the same, as the rewards in liquid form increased by a large amount, resulting in a total imbalance within the internal economy of the platform. Since as I mentioned earlier, its structure was originated with the intention of 1 SBD: 1 USD, but we know that this is not currently the case.
Therefore, the economy of the platform is not good, resulting in the lack of a balanced percentage of rewards that are generated in each post. The SBD has totally changed the demand for the supply of STEEM due to its high price in the market, resulting in a great mismatch, which is completely negative, since STEEM, being the native currency of the platform, has to be promoted and continue in development so that its economy is balanced.
Nowadays, they try to find mechanisms that help and adjust the internal economy of Steemit blockchain, however, we know that the market for crypto assets is very volatile and not at all predictable, therefore it can be quite a complicated job. These mechanisms of which I mentioned, we will be talking about soon in the rest of the questions, but we must know that each user within the platform also has to collaborate and help this to be achieved.
🟢 Using your last subsequent payment, kindly calculate the ratio of Author: Curator Reward in USD equivalent terms
We are going to use the same data from the table that we did previously, therefore, we can say that:
My author reward in USD terms from the last previous payment was $ 87.91, and to calculate the proportion we will do the following:
• 87.91 / 109.63 (* 100) = 80.18%
The curator's reward in terms of USD was a total of $ 21.72, now we are going to make a simple formula to get the percentage obtained:
• 21.72 / 109.63 (* 100) = 19.81%
Which means that in global terms there was not a fair and balanced balance of the rewards 50% / 50%, but in this case it was 80.18% for the author and 19.81% for the curator, which consequently treats a total imbalance in the internal economy of Steem blockchain.
Through these simple formulas we can realize that the percentages of both parties are not balanced according to the internal structure that is had for the management of rewards.
(4) Explain how and why an initiative like # club5050 can change the dynamics of supply and demand in favor of STEEM .
Let's remember that STEEM is the main and backing currency of the platform, therefore, it is the one that will give us a fair and balanced balance within its internal economy, however, due to the great demand that exists. currently, it has caused the value of the SBD to rise precipitously, causing most people to focus on selling and not increasing their SP, which is so important to the value of their account.
STEEM POWER is also the fundamental basis of the development of our account, since thanks to it we will be able to carry out different activities within the platform, such as voting, commenting, publishing and having a higher weight within the ecosystem. Many of us today do not focus on increasing our SP, we only focus on selling, however, we are not seeing the great importance that this has, since the development of our account is extremely fundamental and important.
Dynamics such as Club5050, motivate and incentivize all users within the platform to increase 50% of our liquid rewards obtained from each publication, in order for the 50% / 50% mechanism to recover and return. to exist the same balance as before. Previously we could see how this mechanism has been affected, where authors receive more than 50% of rewards than curators, which indicates that there is a strong imbalance. This dynamic motivates us to increase our SP instead of selling all our liquid rewards, we manage to balance the internal economy of the platform little by little.
It is a mechanism that can be applied in the short or long term, but with the same purpose, which is to recover the supply and demand of STEEM in our internal market, and that we all focus more on increasing our SP, a key and fundamental piece for our development on the platform. Let us remember that we can all actively participate in this wonderful initiative that will help us to adjust the control of the platform again.
How can we achieve this? We simply have to choose the 50% of our liquid rewards that we generate for each post, and change it to STEEM to perform POWER UP. Below I will show you an example of this:
• On 10/21/21 I received a reward of 10,873 SBD, of which I changed 5 SBD to STEEM in the internal market of our platform, which was a total of 58,962 STEEM.
• Then I turned them on to increase my SP.
But to actively participate in this club5050 mechanism, I must do it with every post in the last seven days that I have generated, which means that I have yet to turn on.
I just wanted to show you how easy and simple this dynamic is so that we can recover the internal economy of the platform, and recover that 50% / 50% of rewards between curator and author that there was before. Since it is currently at 80:20.
What is currently happening is something that not all of us can see, since the value of STEEM does not rise due to the large excess demand in the market, due to the large number of people who decide to sell and not increase, that is why that the price of the SBD has notably affected the platform's economy, bringing certain imbalances that seriously affect its development.
(5) Consider that a user has a lower reputation than yours, vote in favor of its publication: Does it affect payment and increase reputation? If the same user opts for a negative vote, does that affect both his Payment and his Reputation? Explain why and how; with examples?
🟢 1) First case
In the first case, we have a user who has a lower reputation than mine, the question is the following: Does it affect our payment? Does reputation increase?
As I mentioned before, our SP level will make us have a better development within the platform, this is because the greater the amount of Steem Power that we have in our account, the greater the value of the vote we obtain. How can we see how much income value we give for a publication? Thanks to Steemworld a platform under the Steem blockchain project, which was developed by @steemchiller, we can see how much our vote is worth according to our SP percentage.
In this case, I went to the Steemworld page and we can see that my vote value is positioned at approximately $ 0.02, as I have an SP of 1.279.93.
If in a hypothetical case, my voting percentage is at 79%, I will not award those $ 0.02, since my voting percentage is not 100%. We must also remember that we should not spend all our energy, we must take a maximum of 80%. Then we can say that the vote that a user gives us is going to be in proportion according to the SP that he has and according to the percentage of vote in which he is.
So we can say that if a user has a lower reputation than mine and gives me a positive vote to my publication, it gives me a percentage of generated value ($), but that will depend on the amount of STEEM POWER they have in their account and of the percentage of vote you had at the time of giving me the vote. Since as I mentioned above, if your percentage is at 100%, it will grant me 100% of your rewards based on your SP.
In the other case, my reputation percentage will also increase, depending on the value of your vote.
In a simple way I will give a real example about my case:
On the day 20/10/21, the user @ daiky69 gave me a positive vote of 0.02 $ with a voting percentage of 90%, that is, his percentage of vote was almost 100%, therefore I He gave the value of his vote to the full.
That 0.02 $ equals a total of 0.06USD, as we can see in the following image below:
As we can see, the user has a reputation lower than mine of 64,800, and has an SP of 768.77.
In this way, your vote increases my reputation and gives me a value generated in my post of 0.06 $.
🟢 2) Second case
In our second case we have a user with a reputation lower than mine, who gives me a negative vote. Would that affect my payment and my reputation?
It would affect my pay based on the level of SP I have, as well as the percentage of your vote at the time of granting it, but it does not affect my reputation at all.
I'm going to show a real example about it:
On 10/22/21 the user @ hochiminhrm gave me a negative vote of 0.01 $, at that time his voting percentage was at 100%, which made my publication less valuable.
As we can see in the image, he says that I take $ 0.01 which is equivalent to $ 0.03.
We can see that the user's reputation is 61.906, therefore it is lower than mine, and with a SP of 457.21.
We can confirm that it affected the value of my publication, but not my reputation
Conclusion
The Steemit blockchain ecosystem is completely wonderful and unique, its structure was fully designed so that we can obtain a good operation within it, however, today we can see how certain mechanisms have been affecting its development, such is the case of the rupture of the STU in the internal market of the platform.
Its structure was designed in such a way that 1 SBD equals 1 USD, but we know that currently this is not the case, therefore the main currency of the platform (STEEM) is at a critical point within its internal economy, That is why mechanisms such as club5050 will help regulate its internal economy. Increasing the demand for SP, and encouraging us to invest half our liquid rewards in STEEM POWER.
We can see how currently the payment method established as 50% / 50% is not fully carried out, since currently there is an unbalanced scale where 80% of the rewards are directed to the author, and only 20% corresponds to him to the curator, then we can see that this is not right, that is why the mechanism mentioned above will serve to regulate the economy of the platform.
In a real and clear way, we were able to see every percentage that authors and curators receive in a post, according to liquid rewards (USD). Let us also remember that the wonderful Steemit platform offers us other platforms where we can carry out activities and operations on our account, such is the case of Steemworld, Steemd, Steemdb, etc., Therefore we must make the most of them and look for a better development within the platform.
Thanks to professor @sapwood for this amazing class on STU, Reputation, Author / Curator rewards, etc. All users must know and put into practice each of these issues, since they are essential so that we can obtain prior knowledge about the importance of them within the platform.
It was a pleasure, until next time.