Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

Sustainability Coverage and VP Management

Over the last two weeks, we have begun to explain how we measure and ensure the sustainability of our program. The last two conversions to complete were unprofitable, which has caused our Sustainability Coverage to drop below 100%. Whenever our coverage is below 100%, we will share the current level in each update, along with the resulting rshares reward rate that our members receive on a daily basis.

Sustainability Coverage is currently at 91.93% and rshares reward rate is 735,466,791 per SBI unit per day. The rshares reward rate for bonus units (delegation reward) is not decreased.

If our weighted average VP drops below 15% again, we will temporarily reduce our upvoting rewards multiplier to reduce our short-term dependence on leased delegation.

Upvoting Reward multipliers are currently at 1.34x on regular updates and 1.18x on secondary accounts and comments

Upvotes by Voting Account

As each upvote is delivered by our automated system, it selects the highest VP account that can deliver the full scheduled upvote value. If the full vote cannot be delivered by a single account, the post may be upvoted by several accounts.

Each time a new SP delegation lease is filled, it results in that account having a higher VP (and thereby delivering most of our upvotes until it falls back to the level of the other accounts). You can see this in the visual, with the accounts that had the most new leases filled this week delivering the most votes.

We are working toward creating a smooth SP curve between accounts that results in most members always getting their upvotes from the same 2 or 3 accounts.

_{(@steemsql data visualized in Power BI by @josephsavage)}

This shows the total number of upvotes (without respect to size) delivered in the last week. The biggest boxes belong to members that have a high enough SBI subscription level to get regular upvotes that exceed the minimum threshold.

A more common way to look at voting distribution is by vote weight. This is more meaningful when reviewed by voting account. We publish regular upvote history reports for each voting account, and the regular report for @steembasicincome is published by @sbi-booster.

Enrollment

If you want to get involved in Steem Basic Income, or to increase the level of basic income that you receive, enrollment is pretty straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian (excluding yourself), it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and let us know if you have any questions.
https://steemit.com/basicincome/@steembasicincome/steem-basic-income-new-transaction-memo-guidelines

The official currency for enrollment is STEEM. We accept SBD at our discretion but you do not receive extra value or any partial refund for paying in SBD instead of STEEM. If we choose to accept an SBD enrollment, we accept the entire amount. If we choose to reject it, we refund the entire amount and request you to send STEEM instead.

Enrollments are processed automatically every 144 minutes. Confirmation transactions are manual and typically are sent within 2-3 days. Even if you have not received a welcome transaction, you can check your status using !sbi status.

Questions?

Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.

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Global Block Builders

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