As a top steem witness, will you support a hardfork implementing the “Economic Improvement Proposal” or “EIP.”
As mentioned in this post by Steemit Inc:
The EIP has 3 components all of which we believe must be implemented in tandem in order to deliver the desired effect. If you’re interested in learning more about the rewards curve and the options for improving it, @vandeberg (Senior Blockchain Engineer at Steemit) has published a more technical exploration of the subject.
Moving from a linear rewards curve to a convergent linear rewards curve. A convergent linear rewards curve would start out superlinear, providing minimal gains at first, and smoothly become linear as more votes are made. Users that are interested only in maximizing the return on their Steem Power, instead of benefitting the platform through thoughtful curation, often engage in practices such as self voting or delegation to bid bots. The proposed curve incentivises concentration of votes on to fewer pieces of content, which increases the visibility of such counterproductive behavior. Alternatively, users could choose to act more subtly by spreading stake across more, but smaller, votes at the cost of a suboptimal return. We cannot eliminate such behavior entirely, but we can make it less economically viable.
Increasing the percentage of rewards that are distributed to curators. One of the problems with Steem as it stands is that there is a strong incentive to self-vote. The more rewards are distributed to curators the less incentive there is to self-vote. At the same time, if curation is improved, then those content creators who are currently submitting great content which isn’t getting seen, should stand to benefit as that content will be more likely to get unearthed.
Create a separate “downvote pool.” Downvotes are a critical component for regulating Steem, but there is no incentive to render them because they are not rewarded. In fact, they cost voting mana which disincentivizes the use of the downvote. This creates more opportunities for self-voting abuse as it reduces the likelihood that this behavior will be countered. By adding a small pool for downvotes that is consumed prior to consuming voting mana, users are more free to downvote content as a curation mechanism without losing out on potential rewards themselves.
The parameters that you, as a witness, are agreeing with when voting YES are:
- Increase curation rewards to 50%
- Use a convergent linear rewards curve (n^2/Cn+1)
- Use a separate downvote pool of roughly 25%
Answer the question at dpoll.xyz.