Scot is the Smart Contract Organizational token. It's modeled after the SMT protocol and we literally use the SMT white paper as the basis for the design spec. SMTs are quite delayed so if you'd like a way to create and tokenize your community NOW we're offering Scot as a way to do it through steem-engine.com!
Want to switch to SMTs later? Go ahead! We plan to help launch SMTs as well. Want to use our smart contract tool that we're working on to distribute tokens in the future? That's ok too. You can switch! We don't really care which tool you decide to use for your community so long as it's based on Steem!
Also, keep in mind, Scot and Scotbot are starting points to tokenize everything and they are expected to be available to the public starting in about a week (this is still notice of change rather than change itself) . They aren't necessarily the end game. Some people may prefer this, others may want different tools, we'll support as many tools as we can that we think will help grow Steem!
What's happening?
In order for voting to work properly you need to be able to stake tokens. On Steem, the comparative ability is to take liquid steem and power it up into steem power. On the test server @harpagon made it so you can go from liquid tokens to token power and @beggars added a UI so users can Stake their tokens (aka power them up) with a few clicks.
With staking enabled we're now able to run the voting bot that @holger80 made, which we're calling Scotbot (ND Scot is also a term we'll use).
We've been testing the staking feature on the QA server for the last week with the scottest token. We've been testing Scotbot with it too. It's gone quite smoothly. So, today we're announcing a Hard Fork for the Steem Engine platform to add the new staking functionality.
The hard fork is scheduled to take place on Tuesday, May 7th at 8pm EST on the main node that runs steem-engine.com. Anyone else who is running their own Steem Engine node should plan to update to the new software at around the same time (though it doesn't have to be exact since all of the data and consensus still happens on the Steem blockchain).
Once the hardfork is done we'll technically be able to run Scot and Scotbot on the live server! We will likely need time and tooling to bring on board everyone that wants their own community token, but you're welcome to message aggroed in discord if you'd like to get moving as soon as possible.
What happens after it's live?
Then we get rockin' and rollin' with Scot and Scotbot so anyone in the community can create a token and get their proof-of-brain-style reward system up and running.
- Step 1 you'll create a token.
- Step 2 you may want to then airdrop that token. The interface for that should be out soon.
- Step 3 users will have to stake the token. There's an easy UI built.
- Step 4 you'll setup scotbot to start distributing your tokens.
- Step 5 users will post normally through steempeak, busy, steemit etc and they'll add tags to the post based on the tokens they are looking to be rewarded in (yes, more than one will work, but we're limiting to 5)
- Step 6 when the post reaches the specified payout period you can claim your rewards in the available Steem Engine token(s). After 7 days you can claim your Steem rewards normally.
It's changable
You screwed up how Scotbot works and want a different distribution framework. This will be allowed!!! So, no, it's not a smart contract yet. The token distributor can change the dynamics/settings of how it's distributed. This is good and bad!
If you mess up or find there's a better way for this to work with your community then you're going to be happy you can change it. If you're investing money into a community token and someone changes how it distributes you might get pissed.
This is a tool launch. You have to do your own due diligence on tokens and communities you want to put your money into to make sure that the people leading them aren't horrible human beings that will rob you later. It's crypto, be wary. The benefit though is that if there's a better way for a token to operate then it can adjust easily on the fly.
What will running a Scot cost?
We have programming, server, and support costs to run these. I know lots of crypto people want everything for free, but we simply can't offer that and still be a business that's successful. Here's the fees we'll be charging.
Scotbot setup = 1000 ENG
Sctbot monthly charge = 1 ENG per active account per month.
This is billed in arrears. So, at the end of 30 days we'll count how many unique, active accounts you had over the past month and invoice you for that many ENG. Failure to pay will result in termination of the Scotbot instance. (Tokens are still on chain, but it will cease distributing tokens).
Thinking of getting this rolling? Feel free to message me on Discord!
What's coming next? Custom Interfaces!
What we're trying to put into place is the ability to run a condenser clone that will feature your token as the post rewards. This is under development, but in theory you would go to a custom website like magictoken.xyz, and post there. All the post rewards would show you how much magic you've earned. It's like your own personally-branded white label version of steemit.com. When you click the wallet it'll bring you back to your token wallet in Steem-engine.com.
It's under development and I'll keep you posted.
Thanks a million for continuous contribution to build our Blockchain
Every time I see your work that inspire me to do more and more for our Blockchain with SEVEN77
I absolutely love it. This is fabulous. I am so excited about this project.
As I wrote yesterday, Steem Engine needs to be placed front and center in this ecosystem.
This team is getting things done and pushing things forward. That is exactly what Steem needs. No waiting around for a centralized company to get going.
Amen!
STEEM INC, should send you most cash they got for job they didnt make and you did.
Отличная новость.Приятно видеть, что еще остались люди которые любят СТЕЕМ и делают все, чтобы он стал самым лучшим. Мой выбор среди массы токенов !dramatoken
Great news. It is pleasant to see that there are still people who love STEEM and are doing everything to make it the best. My choice among the mass of tokens - DRAMA
Exciting stuff guys! It's great timing to create some Steem Excitement.
Is dRama gong to become SCOTized?
I thought it seemed like you guys pretty much had it ready! This is awesome news! Can't wait to start experimenting with a token on the main net for @freedomtribe! I'll have to start understanding how to set my parameters, for the reward pool, total supply, etc. Exciting times! Thank y'all for the awesome work!
Cool stuff guys! This is great news and we have been waiting for this announcement eagerly.
Only thing that bothers us is the cost of running the scot instance, although I understand there are costs associated with such services but personally I feel it's too much.
Can't the SCOT bot be open sourced so that people can host their own instances at cheap hosting providers like heroku or @privex?
it's on the eventual list. We can work out deals too in Discord.
So if this takes off, whats the plan for ENG if starts its deflationary rise in price? At what point does using ENG become prohibitive for dapp development? And if so, then what?
in 2019 we'll get a P2P layer working. As part of that we'll add block production and block production rewards.
There's also around 2M available for sale right now. So, we can support a few thousand communities with that before we have to freak out. We're not anticipating that many as of right now. We'll see how it goes.
Thanks for the reply and explanation
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If this can solve the SMT problem it is great news....
Great news that you are developing Steem-engine so quickly! Way to go guys!
So if a user who's running Scotbot doesn't pay, users can't claim anymore? I'm still a little confused on how that that part works with payment.
right, the tokens live on the chain and we're not holding them hostage in an account or able to take them from your account. it just means that if payment isn't made we'll stop the proof of brain distribution mechanism.
Someone sent the link to the github for the source code to the distribution bot. Other than not having to manage it yourself, is there any other benefit to paying you to do it rather than hosting yourself?
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The only SCOT I know of on github is @holger80's original version. It hasn't been updated for weeks so I'm presuming it's not going to work with the upcoming hardfork that will introduce staked tokens. It also doesn't feature nearly the level of customization that is listed here so that would be a huge benefit over running the version I'm aware of.
Hm, I wonder if they'll release it, probably not as its another revenue stream for them, which I think is good considering they have to pay to build all this and other than selling ENG, I don't see how else they make anything.
Is there a timeline on the smart contract version?
not yet. it's in the months range. before the end of 2019 kinda thing, but nothing specific as of yet.
What's the odds that Steem-engine and SCOT will become SMTs itself? How difficult would it be to convert the sidechain code and implement it directly to the blockchain?
You just planted 0.10 tree(s)!
Thanks to @ucukertz
We have planted already
7719.19 trees
out of 1,000,000
Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 20964.38
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
I'm starting to see how useful SteemEngine can be.
This can solve the onboarding of STEEM. Imagine something on top of STEEM that just easy to use for Normies like any social media.
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1000 ENG for Setup. You´re crazy :-)).
Good job btw! Cant believe the progress made to date
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Stake the token or stake steem?
you need a minimal amount of steem staked for RCs. otherwise this system is all about staked tokens on SE.
Hallelujah!
I doubt I personally will ever make tokens. But, but, but.... I think J found a new reason to fomo into ENG 🤔😱👌
Thank you for this informative sharing. This post is very valuable for new users like me
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With the token and bot name, you took away a lot of credibility from this awesome project.
Unless you have some kind of agreement with Ned.
This is crypto. having a snarky title I think is ok.
S.C. made sense because of Smart Contract. Organizational Token makes more sense than Community Token because the name is pronounceable as SCOT rather than gibberish as SCCT.
Adding ND (Novel Distribution) as an optional name is just for fun.
It's money. Or currency if you will. And you want it to grow big?
Companies and business using it for commerce.
Can you imagine paying in Donald in the US or in Pedro in Mexico?
But it's just crypto, right?
You can change the name later down the road. Like Steemmonsters.
Please don't get me wrong. You're are doing an amazing job here. I'm not criticizing, because I don't really care and it's yours.
I'm just sharing my opinion and try to see further and to be helpful.
Now I'm going back to my cave. Have some bones waiting by the fire pit.
currency, venezuelan bolivar was named after Simon bolivar. so i read
Maybe that's why you're soo fucked down there?
No offense, my friend.
It's just a joke.
lol, i was doing my best to be witty. might have only half reached my destination
Sorry pal.
I wrote down there and only now realized that you're really from down there, hehe.
I actually taught you're from Venezuela.
I checked -witty- and look what uncle Google said:
Witty-Being clever and funny, making funny quips off the top of your head. Witty people are clever and cool. Hang out with them.
Regards from True North.
Minus 4 Celsius and inch of snow this morning. Can you imagine that?
I don't think anything is wrong with Scot. it's easy to brand around, easy to say, and easy to remember. I think the cheeky side is ND Scot. And we're already switching to scotbot there to describe it. Remember though the actual currencies are the tokens that people create. So, no average user is going to talk about Scot. it's just the community and business leaders who will care.
Like I said. You have a good and smart team. I'm sure you thought things out well.
And at the same time, I wish you all the best. It's good for all steemians, for sure.
Thanks for your time and explanation.
Keep steeming.
What?
?
I guess for calling it "ND Scot"
Really exciting times ahead because developing project we see everyday like this one!
This post has been included in the latest edition of The Steem News in 10 posts - a compilation of the key news stories on the Steem blockchain.
In memory of Ned Scott (2016-2018).
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@aggroed your contribution by creating scott token smt going to make steemit a niche based social platform. Anybody can create a niche of their choice and create own scot token. Its great idea.
Resteem.
yo siempre pregunto como le haces para ganar tanto :0
Dear #agfroed , In your writing, it is seen that it will play a very important role for the Block Chain Steemians. That is why there is no scope to stop the campaign. Be a partner, everybody should be able to calculate profit losses. Come with helpful writing. Everyone should be benefited, this is the case
Really cool stuff and I am looking forward to seeing what will develop from this.
AND
SCOT HAS A GREAT HEAD OF HAIR... I would dare to say it might be better then some other famous steemian
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waiting
Congratulations @aggroed!
Your post was mentioned in the Steem Hit Parade in the following categories:
Wow, very exciting times indeed as I mentioned before @aggroed ,lol! I really want to create a FOODIE Type of token but not really sure yet how it would work or how people could use it some how by posting food photos!? It all sounds a bit complicated on getting started is there an easier version or video that explains the complete process for us dummies that never done anything like this before, lol!!
📣🚀 Keep up the great work guys you all rock!! Woot Woot, we have blast off!!
This is just amazing, thanks for your hard work @aggroed.
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resteemed.. now we don't need SMT by ned scot... we love @aggroed
I do not quite understand it all but it sounds like something really awesome. Thanks for building the blockchain to greater and greater heights
Hard for with 1000 burpees.
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