Hopefully this post is fit for this Community and not too overloaded. I've been away since mid 2019 and I figure this has all been previously discussed, but I have a few questions and would love some education from the community.
@steem.dao owns A TON of coins (roughly 23.5% of circulating HIVE supply!) and I see it also being used for the DHF. I won't get into depth in this post with my thoughts on the DHF, as I find it highly awesome and beneficial, but also ripe for exploitation in its current form. But with this account as an integral part of the blockchain in general, one should know what it's about.
- Who controls and/or owns this account?
- If it is truly a DAO then the keys must be distributed in some fashion amongst a set of federated users.
- With that being the case which contributors are part of this user group?
- Where did its initial funding come from?
- In addition to that it also receives a 10% cut from the inflation pool to help drive the DHF, correct?
- Why is it paying itself from the DHF (just today it received $2644 HBD and even more in previous days)?
- What other purposes will this account used for?
- Any other thoughts or information useful to know?
The last thing we want is another centralized liability in this brand new network, so hopefully any concerns can be alleviated.
Nobody owns that account - it has no keys as you can see here: https://hiveblocks.com/@steem.dao
It gets funded 10% of the reward pool every day, as you said. There was an initial donation from Steemit, Inc. of 200,000 STEEM soon after the DAO was created. The majority of the funds came after the launch of the Hive blockchain, when the ninja-mined and promised for ecosystem development Steemit, Inc. stake was sent to the fund. Also, anyone can donate to the fund or set it as a beneficiary to receive post rewards.
The paying itself that you saw might be the unallocated daily amount which goes back to the fund. In other words, there is a cap on the funds that can be paid out per day. If the actual amount paid is lower, the rest goes back into the fund.
Hmm. I guess this is up to us, the community. Any other uses come to mind?
Note that the account will be renamed to a Hive-specific name in a future hardfork (I'm not exactly sure if it will be in the next one).
Ok great thanks for the info! Yep I had assumed a bulk of that stake likely came from the original ninja-mined coins. It is awesome to see that get allocated to where it will actually be used!
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