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RE: What would happen if we hire a professional PR & Marketing agency to promote Steem?

in #steem • 4 years ago (edited)

The SPS currently has over 2400 SBD (US$ 1880) to distribute per day

True. However the refill rate is only about 1600 per day so spending above 1600/day depletes the fund. It could be done on a one time or short term basis, but it wouldn't be sustainable.

However:

  1. Your proposal to spend 800 per day fits within the refill budget
  2. Rewards from posts can also be used. Some of the existing proposal recipients have used a hybrid model of getting some funding from SPS and some from posts.
  3. Beneficiary rewards from posts can be used to refill the SPS faster.

On the matter of funds not being guaranteed (which would therefore make it difficult or not impossible to sign a services contract), this is one reason to want to fill the SPS fund to a higher balance rather than deplete it. Doing so allows faster payouts of the entire contract amount, so approval becomes more of a binary decision (which allows for signing a contract or not) rather than a slow stream of funds which could be cut off in month or two for various reasons.

4 years ago in #steem by
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     4 years ago  

    Thanks for the extra info on the SPS. Is that 1600 SBD refill rate growing significantly?

    Planning for contingency and continuity has to be managed carefully.

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     4 years ago (edited) 

    The automatic refill rate is a function of the market cap (mostly price) of STEEM. So it really depends on the price of STEEM going up to increase it, or a fork that increased the share of inflation going to SPS. At the same time, a decrease in the price of STEEM would reduce the fill rate.

    I didn't include beneficiaries or donations in that rate, only the automatic refill. I believe these to generally be small (apart from a one-time donation from Steemit Inc that helped jump start the fund), but that could conceivably change. For example, there is currently a high trending post (advert) with a bunch of paid votes and 100% SPS beneficiary. If such a thing really caught on, then I guess there might be more funding consistently going into SPS.

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       4 years ago  

      Working the budget to be sustainable will be all important. We will have to work with what we have.

      Hopefully, of course, one outcome of the marketing would be some upward movement on the Steem price.

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