Share2Steem Fundition Update #7
Daily Payout Changes, Updates to come
Welcome to the 7th Update of the Share2Steem Campaign powered by @Fundition.
In this post, we will speak about the latest updates made by the Share2Steem team and give a preview of what is to come.
You will also find some statistics, useful links and instructions on how to delegate to us or support the project via our Fundition Campaign.
Daily Payout Changes
As announced in the latest Fundition Update #6, the Daily Payouts system is changing.
The system is modified in its core so please read this with attention if you're currently delegating to Share2Steem.
As specified, the update will be made step by step until the new system is completely in place. Here what is gonna happen in the chronological order (with details on short and longer term).
Start of Vesting Withdraw
A first vesting withdrawal has been made. It amounts to 80% of VESTS received through benefactor rewards and 80% of VESTS received through curation rewards during the last 7 days multiplied by 13 (full power-down delay).
Everytime a withdrawal is finished (every week), a new withdrawal will be launched with the new value (80% of curation and benefactor rewards received during the last 7 days multiplied by 13).
This 80% might be subject to change (either for curation rewards or for benefactor rewards, the two percentages may also become different) if it impacts too much growth of the proprietary SP of the @share2steem account.
100% of Author Rewards in SP will be kept in the proprietary SP of the @share2steem account.
For now, the STEEM obtained from these power-downs won't be distributed to delegators, but instead put and kept in the "Buffer" that will be used after the transition to the new system is complete.
Change in daily transfers
Today at midnight (GMT+2, France time), daily payouts won't be made. Instead, a virtual "last payout" date will be put in the database corresponding to today's date with the hours / minutes / seconds of your last delegation.
From now on, payouts will be made individually for each delegator, every 24 hours (the initial date taken into account being that virtual "last payout" date).
For example : your last delegation was made on 2019/04/04 at 15:30:52, that means the next payout you will receive will be tomorrow at 15:30:52, and the next one 24 hours later, and so on.
System has been tested but there still might be some errors, so please be forgiving and patient in case there are some problems.
What will be distributed and how it is calculated:
At the time of the delegator's payout, the base amount will be 70% of liquid benefactor rewards received in the last 24 hours (whether it's in STEEM, SBD or both).
The other 30% will be distributed as such : 20% for @algo.coder (for costs and wage) and 10% for @share2steem.fund (for contests, promotion, etc...). For now, this 30% will be kept in the buffer to accelerate the transition process. But this 70/20/10 rule (even if it might be subject to changes in the future) will stay the same once the new system is fully in place.
So the base amount will then be multiplied by the percentage of VESTS delegated by the current delegator over all VESTS delegated to Share2Steem. This will define the share of profits for that delegator and will be sent to him.
Base Amount = 70% of last 24 hours liquid benefactor rewards
Delegation Percentage = Amount delegated by the delegator / Total amount delegated by all delegators
Share of profits for the delegator = Base Amount * Delegation Percentage
So from now on, there won't be any more bonus / penalty for delegation age. The bonus will be maintained in upvote strength calculation though.
Changes for small delegators
From now on, if your share of profits is under 0.001 STEEM or 0.001 SBD, it will be kept in the database (and not lost as before). Once you have enough for a transfer (more than 0.001 STEEM or 0.001 SBD) it will be transfered to you.
Same for larger delegators, the remaining amount will be kept in memory and included in the next payout.
Transition to the new system
So, with power-downs and 30% of liquid benefactor rewards being kept in the buffer (on the @share2steem account), little by little, that amount should build up.
New system
Once the calculated APR from the Buffer crosses the 30 days mean of the current system (only giving 70% of liquid benefactor rewards), the switch will be made and from that time, everyday, delegators will receive 2% (1/50) of the Buffer (the balances on the @share2steem account).
This way, APR will be a lot more stable.
The Historical and Projected APR displayed in the Statistics section will be wrong during the whole transition process (same as the delegation tool on the Home page). All will be corrected once the transition is fully made.
So after the transition (percentages may vary as stated before):
- 80% of curation rewards and benefactor rewards in SP will be powered-down and put in the buffer,
- 70% of liquid benefactor rewards will be put in the buffer.
And 2% of that buffer will be distributed to delegators every day.
Coming in the next few weeks
1) Changes in the Payout system
As described, some errors may occur, so bug-fixing might be needed and will be the priority. When everything is working perfectly, after that, it's just a waiting game before the switch between systems is made.
2) Bettering the Freemium Model
With the next updates, fee will surely decrease on some items, and as new updates and features are deployed, some other items might appear. The engagement is to never be above 10% when all features are activated by a given user.
3) Change in the Auth System
All login will continue to happen via SteemConnect as everyone trust the service. But instead of getting an Access Token from SteemConnect and then broadcast the operations through their API, users will delegate posting authority to @share2steem (that operation will be made through SteemConnect) which will then take care of broadcasting the operations to the Blockchain via the nodes. The goal is to diminish the third-party services we rely and depend on.
4) Modification in the Cross-Post system
As some problems occured with Instagram and YouTube, we will work on authorizing automatic cross-posting without the hashtag like for Twitter, to not rely on indexing by Instagram / YouTube anymore.
5) Blogger Support for cross-posting
The next social network supported by Share2Steem will be Blogger. No ETA yet but we hope to implement in the next weeks.
6) New title system
A new title system will be put in place to avoid too much "XXX's Instagram/Twitter Feed". The custom title with square brackets will still override all other settings, but the script will try to choose a relevant title before resorting to default title or custom title defined by the user in its account's settings.
7) Business Model
Last but not least (but that will be the update which will take longer to implement), a whole new aspect of Share2Steem will be developed and implemented. I don't want to tell too much yet, but it will be complimentary to what is currently in place, will reinforce the community, allow further monetization of your social media activity, while diversifying source of incomes for the application and for delegators.
Statistics
We are proud to count 3 062 members.
These members posted 60 182 messages from social networks generating 31 688.28 $ in payouts.
Share2Steem application is ranked #8 in number of posts.
@share2steem account has 121 950 Steem Power, and our 100% upvote is currently worth 2.95 $.
Source : Share2Steem Internal Statistics
Want to Delegate ?
Delegators get up to 25% APR ! But also a bonus in the Leaderboard, implying bigger daily upvotes by @share2steem and the Curation Trails.
Want to delegate more (or less) ? Just copy and paste the link below, taking care to change the amout of SP you want to delegate at the end of the URL :
https://steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=share2steem&vesting_shares=youramounthere%20SP
Or go to https://share2steem.io and use the delegation tool on the front page !
Useful Links
Guide To Setup Share2Steem with Instagram EN by @AaronLeang (KR Version by @jaydih / Bahasa Indenosia Version by @alaikaabdullah)
Guide To Setup Share2Steem with Twitter EN by @AaronLeang
Guide To Setup Share2Steem with YouTube EN by @AaronLeang
Guide To Setup Share2Steem with Medium KR by @aaronhung
Guide to Create a New Account via Share2Steem and link a YouTube Account CN by @yuxi
Guide to Create a New Account via Share2Steem and link a Twitter Account KR by @jaydih
If you have any questions, suggestions, or simply want to encourage us, feel free to come to Discord !
Let's go ! https://share2steem.io
"ERR_CONNECTION_REFUSED" https://share2steem.io/
This is the message that the browser gives me every time I try to enter the site to review why I can't publish in STEEMIT from my TWITTER account.
I had found it a very practical way to share and linking the YOUTUBE account was something I liked too, it is a shame that I am not working.
Superb!!
Yuupi! Why trial share2steem not upvotin my acount? How its work?
Posted using Partiko Android
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What exactly is steem bet? how does it work? thank you for you clarification.
This new update will be helpful for sp delegations
Posted using Partiko Android
I would be more interested in seeing upvote % raised as you keep the SP powered up giving more support to those providing extra value. In time the growth helps us all.
Yes, that's why we are keeping part of it.
But currently, APR is needed to attract delegators, whatever the opinion we have on it. And more delegations means more growth of the account's SP (even if part of it is powered-down to go back to delegators, it's all a matter of amount). It's really a matter of arbritrage. That's why percentages may vary if it impacts too much growth of the proprietary SP of the account and doesn't bring enough new delegations. For now, the goal is to make the switch in the system (essentially the Buffer system to stabilize the APR). After that, it will be the time for adjustments, impact measurements, etc...
To attract users, upvotes work best it seems, in complement to an app working flawlessly (one can't go without the other). So that's why I chose to do that change (everything works well, it should be a few weeks before the full switch) to increase APR (Daily payouts) and move upvote strength allocated to delegators to "classic" users, to make the application more attractive.
Of course I can be wrong, it's just my observations, I'll see what is the impact of this, and then correct what needs to be corrected.
Thanks for your remark, if you wanna speak more about it to find a "middle-way" (as said, I could be wrong in my "market" analysis), it would be a pleasure to discuss this with you on Discord.
Sounds great
Thank for the update!
I'm confused. The delegation return has been like 5% for a while now. It's going to go back up? I need to be posting with share2steem to get an upvote bonus? But because of the beneficiary rewards, I'm definitely not going to do that.
I don't understand the change.
Posted using Partiko Android
Where are you?
share2steem seems to be broken in regards to instagram.
Hi @share2steem, love your app! It is really a great tool for bringing new users to Steem.
One feature that I believe is necessary in order to make the app top notch and not having to rely on third parties is to be able to post directly from RSS feeds instead of having to rely on Twitter/FB/Instagram/Youtube, etc. Is that something that is possible to implement on your end?
Thank you.