Hey @trafalgar, great that you posted an FAQ. I think many people oppose the EIP because they are not factoring for changes in behaviour but rather just assume the abuse to continue.
Changing the rewards curve to convergent linear rewards could be tricky to get right. I also not sure if is a necessary change. I am most in favour of increasing curation rewards; they need to be at least 50% to be sufficient incentive for a change in behaviour.
There is still a problem with the proposal to raise curation rewards. With the price of SBD around US$1; curation rewards would be 50%. If the price of SBD increases, as I suspect it will at some point, the curation rewards will fall.
For example, a post has a payout of 100 STU (Steem Token Units). If the curation rewards are 50%, 50 STU goes to the content creator and 50 STU goes to the curator. The content creator will receive 25 Steem Power divided by the price of Steem and 25 SBD. The curator will receive 50 Steem Power divided by the price. If the price of Steem is US$1, the curator will receive 50 Steem Power. If the price of Steem Power is U$$5, the curator will receive 10 Steem Power. If the price of SBD increases, the amount of SBD that a content creator receives does not fall. Therefore, the content creator will obtain a higher share of rewards as the price of SBD increases. The table below contains the curation rewards at various prices of SBD.
| Price of SBD (US$) | Percentage Curation Rewards |
|---|---|
| 1 | 50.0% |
| 2 | 40.0% |
| 3 | 33.3% |
| 4 | 28.6% |
| 5 | 25.0% |
| 6 | 22.2% |
| 7 | 20.0% |
| 8 | 18.2% |
| 9 | 16.7% |
| 10 | 15.4% |
This problem can be solved if SBD can be successfully pegged to the US Dollar.
If pegging SBD cannot be reliably implemented, Steem Power could be paid out to curators in both SBD and Steem Power in the same manner that it is to content creators.
Yes I agree that when SBD goes out of wack but is still internally treated as worth roughly $1 USD, things can get a little out of hand.
I vaguely recall that some improvements were made wrt the peg but don't quote me on that. I also believe a pegged currency is very useful and we should revisit it at some point to improve its stability. Nevertheless it has minimal impact on voting behavior and is therefore not part of the EIP.