Snax launched reward for content creators from Steem on May 24. After the first Scoring Round, roughly 366'000 SNAX tokens were distributed between 498 Steemians registered on Snax at the time of 1st Scoring Round — that’s approximately 5% of all Steem audience.
You may see our top 10, who got the highest number of attention on Steem according to Snax algorithm.
Publisher Rewards
Snax distributes rewards for the engagements your content generated. For Steem we take into consideration such metrics as who resteemed and upvoted your post (their social weight) and how much upvotes and comments your post got over a period.
These numbers let us evaluate the metric called Attention Rate. It shows how much attention your content received for some period (we call this period Scoring Round). Scoring Round on Steem takes one day and two days on Twitter.
You may find how much Attention Rate you got over the previous Scoring Round in the designated section on snax.one.
And a cherry on top: actions needed to receive reward are reduced to a minimum. There's no need to crosspost your content, as well as no need to keep Snax browser extension active all the time. Once you have registered on snax.one, you will receive rewards automatically even if you use a mobile app to create content — we'll detect your post no matter what.
Block Producers Rewards
The more publisher rewards were issued, the higher block producer rewards are.
They are divided into two equal parts: 50% of tokens — rewards per block — go to the active producers from top-21 and other 50% — rewards per votes — go to all producers according to the percentage of votes they received no matter if they are active or not.
You can find the code of Snax distribution model on GitHub in model.py file.
We are delighted to work with 5 block producers from Steem: @dragosroua, @crowdmind, @liberosist, @isnochys, @emrebeyler. Everyone are welcomed to join!
Why Snax?
The idea of rewarding publishers with crypto tokens isn't innovative to the market. Then what makes Snax different? We're trying to build a fair reward distribution system which encourages people to create quality content without pushing them to leave their favourite social platform. Here's how we see it:
Early user’s registration is not a basis for future preference
Newly built platforms create a fertile ground for their users to cheat ranks and get unfairly high rewards later.
In Snax, it matters how many engagements generates your post, as well as the social weight of people interacting with your post. Social weight changes over time and reflects activity, age and weight of all social connections of a particular person. It doesn't depend on how high is your rank or power on a particular platform and prevents from gaining an unfair advantage.
Early adopters will gain more tokens since the emission of SNAX tokens is a decreasing parabola. But having more tokens doesn’t give any preferences in terms of influencing the rewards mechanism.
High social engagement leads to higher rewards
Content and especially engagements, it generates, stores a significant value for the publisher itself, for media platform and advertisers.
To capitalize on your content, you can aim for a more significant amount of quality engagements. Although, there's no solid success formula on how to get the highest possible reward since rewarding algorithm takes many inputs. While having a large followers base can help to get a stable income, not only influencers can account for a reward, but even a low-profile person can hit the jackpot if they publish a popular post.
Steem bounty program
To encourage you to give Snax a try we've decided to allot 5'000'000 SNAX for a bounty program. Since May 7 180 people participated and got 162'000 tokens.
We'll be searching for Steemians who want to share their review of Snax in return for SNAX tokens until May 31. How much tokens you can get depend on how much followers do you have. Find more information about the program here
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Incredible news.. I would like to read the publication one more time and understand very well how it works.. also I would like to be in the project @snaxteam
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Was glad to see this working today. I received my tokens...Very pleased!
do you check for organic sources of upvotes or do you count simply the number of upvotes? Including bot votes?
looks like bot votes
Good project👍🏻👍🏻
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That's really an amazing news! Great job, resteeming it @snaxteam
Thanks for your work. Especially I appreciate the help of @gingerbread that he gave me on discord.
I started using right at the time! Also, if trump knew how many Snax token he can claim.. hhhahha!
Hi, @for91days, I'm moderator of Snax. it would be cool if he requested them))
He would be king of the world!!!
With that supply (100,000,000,000) we should be happy if 10,000 SNAX will worth $1. That's a waste of time.
It sounds and looks like a good idea, but why would someone buy SNAX?
Great achievement! Thanks for prioritizing Steem.
But why it is not planned to list Snax on an exchange? Without this, what is the point of collecting Snax?
Hi, @stayoutoftherz, @jwolf, I'm moderator of Snax. Of course, we are interested in entering the market and are working on it. Snax is a separate chain, it makes listing on exchanges more difficult, we need to build a bit larger community. At the moment, users can accumulate SNAX by making popular content on Twitter and Steem or send it to friends and favorite bloggers, vote for Block Produсers and purchase of network's computational resources to create Dapp. You can also read about Snax economic here https://hackernoon.com/snax-social-transaction-and-why-sharing-is-caring-afc32c8f1646. Follow us on https://twitter.com/SnaxTeam and https://steemit.com/@snaxteam to keep up with all the news)
Snax looks so well, signed up, upvoted and resteemed your post, wish you successful
Posted using Partiko iOS
Received my too :D Thanks! :)
I just finished signing up which was pretty simple and i guess i'll be making my Snax post tomorrow.
Wonderful! The next step is on the stock exchange !!
It's really awesome what Snax is doing. Thank you @Snaxteam for a commendable integraton to Steem.
I personally had issues binding my accounts. I reported sameand the prompt response I had from "@Gingerbread" was really awesome and encouraging. In fact, its one of the most prompt response I've had of recent in resolving issues online. Thank you once again.
On this post"
I see that Snax has all it takes to rebrand Steem. Truly, engagement has been one of the major concerns of this system. Nevertheless, I see a future of Steem where users will not just earn crypto for their post, but will leverage the power of communities to effectively communicate and learn "one from another" though useful engagement.
Congratulations to @Adsactly @Kingscrown @Acidyo @Firepower @Slowwalker @Exyle @Papa-pepper @Cervantes @Kevinwong @Surpassinggoogle for topping the Snax Attention rate. You all are great influencers of the Steem Ecosystem with your awesome content.
For me, am on the 1,128th spot. So much work to do. I wish I can rise to the first 500th position in the next 30 days.
I'll definitely be joining after getting some more insight into it. Well done and best of luck.
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Hi, @mashoodali, I'm moderator of Snax. There are a lot of posts about Snax on Steem now. For example, https://steemit.com/snaxbountyoprogram/@milaan/review-of-snax-as-a-decentralized-social-media-overlay-for-monetizing-content-with-existing-popular-social-media. There you will find comprehensive information on what Snax is, how Sing Up and how to use it. Sing Up and start getting rewards) Follow us on https://twitter.com/SnaxTeam and https://steemit.com/@snaxteam to keep up with all the news
This is great news, I got my reward as well. what a pleasant surprise for the day. :D
I still need to get myself to read about this eheh
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Cargador De Nokia Original Micro Plus
About 76.47$ has been spent to promote this content using Steemium.
Learn more here!
binding steem is not working
Hi, @prameshtyagi. We fixed it https://steemit.com/snax/@snaxteam/57gxx7-snax-newsupdate. Please try again, get 50 SNAX for Sing Up and start getting rewards. In case of problems, you can contact our Discord channel for support https://discordapp.com/channels/509371605542109185/578602301069983766
Congratulations @snaxteam!
Your post was mentioned in the Steem Hit Parade in the following category:
@steemium purchased a 29.21% vote from @promobot on this post.
*If you disagree with the reward or content of this post you can purchase a reversal of this vote by using our curation interface http://promovotes.com
Is there any exchange for snax to steem. Vice versa, steem to snack.
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Hi, @cloudspyder, I'm moderator of Snax. There are no mechanisms for exchanging SNAX to STEEM, however you can negotiate with other users, for example with your friends or our block producers https://discordapp.com/channel/509371605542109185/539878216186200074
What about the bots or Steemians running contests that require an upvote and resteem from their followers?
Hi, @lauch3d, @blairbitz, I'm moderator of Snax. About yours questions. We don't check for organic sources of upvotes. The logic of the reward calculations is described in our whitepaper https://snax.one/whitepaper.pdf. Please note that the key role is played by the weight of the accounts that have resteemed and upvoted your posts, not the number of upvotes. Thus, we believe that bots have low Attention Rate and their voices have little effect on the rewards of your posts. If you have an army of bots with great activity to pump your posts or you have such an influence on your subscribers that they constantly resteem and upvote your posts, well, you probably have a high Attention Rate and deserve a reward.