Update on the Steem Reward Pool, Upvotes and Rewards Values

in #steem5 years ago (edited)

I promised an update to Why Has the Value of Your Steem Upvote Risen 60% in a Week? when the market turned interesting - so here it is!

The reward pool peaked at just over 1 million STEEM on Sunday/Monday and has since dropped down to a whisker above 900k... and falling.

A look at today's updated graph below shows the turning point in the annualised value of an upvote on the Steem blockchain (the blue line), plus a slower drop in the value of the author rewards paid out (the red line).

Notice the tiny uptick in the red line. This is due to today's widening of the spread between STEEM and SBD prices and, more importantly, SBD rising above US$1. Indeed, it is perfectly possible for that red line to be above the blue one; this has happened before when payouts in SBD were worth more than those in STEEM. My own expectation is that we will be returning to that scenario, at least until we hit the SBD ceiling and the print rate comes to a grinding halt.

One other thing to note is that the curation rewards have experienced a sudden squeeze, dropping from around 27% yesterday to an icy 22% today. There is only one pie and the increased author rewards have eaten into the curators' cut.

I don't particularly like making predictions; the aim is to know how to react to the future as it approaches. As HF20 settles down, we may see history repeat itself.


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@rycharde manages the AAKOM project and the MAP Trail.

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