Temporary Changes To Voting Power Usage
Earlier today our team was notified of a temporary withdrawal of the Steemit Inc delegation to Utopian.io. The delegation is due to return in a week and the reason for this temporary withdrawal is moving of stakes by Steemit Inc.
To ensure Utopian.io continues to review and score your contributions, we’re making some changes to the distribution of voting power by @utopian-io to reduce VP consumption until the delegation is returned.
Contribution Incentives
The process of reviewing submissions to Utopian.io and scoring them for potential review will remain unchanged, and the same voting power percentage will be used to upvote the reviewed submissions according to their score. Though the upvote value of this percentage is significantly lower as a result of our temporarily reduced delegation, contributions are, as always, very welcome.
Moderator & Community Manager Rewards
To conserve voting power, moderation rewards will be reduced by 50% as of 00:00 UTC today. In addition, community managers will not be awarded the regular fixed reward, but can still receive incentives for actively reviewing and scoring contribution to their respective categories.
Utopian.io Innovation Trail
For the time being, we are reducing our support of the communities in the Utopian.io Innovation Trail by lowering the voting power reserved for the trail by 50%.
Tipping
The tipping system will be temporary disabled until the delegation is returned.
We are sorry for the inconvenience caused, and wish to resume normal operation within the coming week. We are working closely with Steemit Inc. to make sure the process is smooth and will be sure to update you as it progresses.
Thank you for your patience and ongoing support!
We would also like to take this chance to thank our team for the quick response and patience, and to our friends in other companies on the blockchain who were quick to offer their support while we work to return to normal operations.
For any update or question don’t hesitate to get in touch with us on the Utopian Discord server.
This is just a small hiccup, thank you for all you are doing, we will continue as usual!
Thanks for the updates. We love utopian!
<3
In my experience, response time, transparency, a pragmatic approach and a concrete timeline are the best ways to make sure that issues like this are understood and well-received by the community. It is good to see that @utopian-io is on the ball in this case! Nice job.
Thanks a lot for your feedback!
Utopian-io is doing a great job but I have a question @utopian-io ! If a contribution gets a lower amount of value based on the same voting power you use now then will it get more value after the delegation return? For e.g., if there is a contribution occur in that time and get's lower valued upvote (as per your conditions right now!) then will that contribution get up vote again with better value or not? Hope you get my point.
It depends on timing. When you make the contribution, there is a time window for voting. If I remember well, that's 7 days. This is configurable, but I'm pretty sure it's 7d right now (https://www.steem.center/index.php?title=Rewards:Formulas#Worth_of_a_vote)
At 7th day after posting, the underlying platform will calculate the final reward and from now on any further changes are ignored. After that, it's past, and almost nothing can have any retro-active affect. The amount was awarded and it's locked. However, if the contribution has been 'flagged' (spam, abuse, etc), the reward may be cancelled even after being paid out, so it's not totally frozen.
If the delegation returns after 7th day, then it will not have an effect.
This should be clear, but there's still a small question, how are changes occurring during the 7d time window accounted for. For example, say, if I upvoted you now, then 5d later I managed to become the largest whale on Steem, will you get the reward according to my current status when I performed the vote, or according to my status at the time of reward calculation?
I had no idea, but I found this a bit-old post: https://steemit.com/steemit/@shenanigator/updated-steemit-faq-part-4-payouts and while some of the bits may be already outdated, there's a very important note:
The VESTS is the SteemPower, so it clearly shows that the voter's current SteemPower is recorded at the time of voting, so I say, when I become a whale tomorrow, that's irrelevant to my voting I do today and the same applies to utopian: if utopian votes your contribution up before delegation returns, it's done, and even if the delegation returns before 7th day, utopian's SP was already recorded and that will not change the calculation.
So that's how it works, very clear to understand, thanks. You give pretty neat examples. Now I have a question that, is this not going to be like a little unfair for contributors until that amount of time? Just a question.
Well.. it depends on what you consider unfair. Utopian will stil work, just with less punch. That does not mean any rules are changed. I also don't think that Steem Inc is obligated in any way to support Utopian. Considering that and other things, one may consider unfair that they do support Utopian and not all other activities :) But, jokes aside, it'd be somwhat unfair if they didn't notify about that and if we were meant to contribute solely for profit. They did, and we are not, so from my point of view it's as fair as it could be. They even stated when they'll delegate SP again, so if someone is really keen on the profit, they can just wait that week and post afterwards. Keep in mind that there is no guarantee that utopian will vote-up on that contribution, even if the contribution is fine&dandy, there's still no guarantee..
Btw. I don't really know what account Steem Inc uses, and how much they did delegate, but I just looked at utopian-io delegators and amounts at https://helloacm.com/tools/steemit/delegators/ (or https://join.utopian.io/sponsors/) and utopian-io still has a tremendous power.. If they upvote a post, that will be significant, even without Steem Inc power to back them.
That's quite the info, thanks.
Get Well Soon. Hope in the future utopian have a way others than steem related things to raise fundings (or just as emergency ration) :)
Ah yes, I hope my contribution get reviewed. It was posted before the announcement :')
Of course it will!
ICO can solve any problem
Well done @utopian.io Thanks for the update.
Although I don't code, I've received Utopian.io upvotes. Grateful for that; it's always encouraging. Hope things sort out soon...