After a few late nights debugging, the SFR token system is now operational!
We now have a couple nodejs bots running in addition to the 3 python bots. It's about time we honed in on a monitoring solution for the many processes we run. We are now distributing tokens daily and users may now claim their tokens for good ol' fashion upvotes. @steemflagrewards is the premiere Steem abuse fighting service that pays users to flag abuse!
Why, Yes! Yes, we are!
SFR Project Updates
1. Daily Token Distribution
Upon every approval, the bot now checks if token payments are due. If they are, the bot will identify any flagged posts that are past payout and obtain any votes with negative rshares.
The next step is the bot will try to pay flags until the daily reward pool is exhausted. If the flags paying out do not exceed the daily reward pool, the remainder is paid to delegators.
I really like this system as it provides Steemians a way to earn rewards by doing something that is beneficial to the ecosystem but also a passive return through delegation in a way that serves other stakeholders.
As far as I know, there is nothing else like it on the blockchain.
Not to mention, you don't have to worry about your delegation being used to promote abuse.
2. SFR Upvote Bot
Once you receive SFR credits for delegating or flagging abuse, you may then redeem then for an upvote after being whitelisted.
Fortunately for users, we do not use a bidding base system in which a loss may be incurred for instance if too many bid in a round. Our return in investment is set based on our bots voting power and other factors.
Note: Make sure you check the bot !stats command to ensure your bid is within the appropriate range and our bot's VP is above the minimum or the SFR will be returned.
I spent a couple days banging my head against the proverbial wall. Much of it pertains to having to acclimate myself very quickly to nodejs.
We had a bit of an issue with the processing of transactions but I eventually figured out how to get the last Steem Engine block. This gave me a way to ensured we were only processing new blocks preventing errors.
Here is an image of the SFR-VotingBot in action
4. Delegator Incentives
It's about time we implemented delegator incentives! Often I romanticize about the SFR team being likened to a military outfit. One of the most emphasized virtues at least when I did my time was personal sacrifice or "service above self". I think it's important for everyone to put in something so the bot will be able to keep up with the tempo of abuse fighting.
Here's an example of our incentive system works.
Let's say we have one flagged post that pays out. Once the bot token distribution function kicks off, it will then grab all follow on flags from the post for registered SFR users.
Post has the following flags:
- $4 SBD flag from 1000 SP Delegator
- $4 SBD flag from a non-delegator
- $2 SBD flag from 100 SP Delegator
- $2 SBD flag from 2 SP Delagator
- $0.50 SBD flag from a 500 SP Delegator
Let's say the SFR bots full-power upvote equals $1 SBD. This means the daily pool will be 10 SFR. In this scenario, the following will happen.
Bot processes delegator flags first
- 1000 SP Delegator $4 SBD flag is checked against the 10 SFR. Check passes. 4 SFR is subtracted from the pool.
- 500 SP Delegator $0.50 SBD flag is checked against the 6 SFR remaining. Check passes. 0.50 SFR is subtracted from the pool.
- 100 SP Delegator $2 SBD flag is checked against the 5.50 SFR remaining. Check passes. 2 SFR is subtracted from the pool.
- 2 SP Delegator $2 SBD flag is checked against the 3.50 SFR remaining. Check passes. 2 SFR is subtracted from the pool.
Next, the Non-Delegator Flag is Processed
- Non-Delegator $4 SBD flag is checked against 1.50 SFR remaining. Check fails. Flag will remain in queue for next payment cycle.
Remaining SBD is split up and sent to delegators in proportion to their delegation with a minimum transferred of 0.001 SFR.
This means that with a minimum delegation of 2 SP that you will receive at least 0.001 SFR daily with the exception of the extraordinary circumstance that there is no remainder for the day. I suppose it could happen, in theory, but it is highly unlikely.
I hope with this explanation you now understand that there is now a personal incentive to delegate to our project. Of course, this is aside from the broader incentive of cleaning Steem and improving content discovery.
But I have bad news...
With hard fork 21 around the corner and free downvotes, I don't foresee how we will be able to meet the demand of rewarding flags without a significant delegation, drastically toning done our ROI values or developing a method of rewarding free downvotes less (or alternatively not at all).
I know this has been a contentious topic on the SFR Discord with good arguments posed as to why free downvotes should still be rewarded (primarily due to the frequent retalliation our abuse fighters' experience. I welcome everyone's feedback on the matter but I'll go ahead and share my thoughts.
Do I think SFR should credit free downvotes?
Short answer is no. I would like to encourage users to burn their free downvotes on the most prominent token manipulators on this platform before using the bots limited VP. Most of them can be found on the Trending page.
I understand that many our afraid of retaliation and that's understandable. We can work towards a better solution in the future but, until free downvotes are able to be delegated, my inclination is to not reward them. Don't sweat it, though. We take care of our own so, if you find yourself targeted by abusers, don't hesitate to let us know. I've developed a few tricks to cause these kind to waste their VP.
But don't go picking fights with whales! We are not equipped for that!
We may engage Orcas with community consensus but I don't make that call. Be smart!
Lastly, I wanted to share the SFR Tutorial I created using Snag-It. This explains how to perform the token transactions using KeyChain. Please, keep in mind the bot is still in a alpha release as I there are much functionality and tweaks that we be added as we evolve to the blockchain and the coming changes.
I'm glad to serve the community. Looking forward to us achieving great things together.
Here is the Github Link to the SFR-Token-Bot fork if anybody would like to review.
Check out this sweet logo @overkillcoin created for us!
Would you like to delegate to the Steem Flag Rewards project and promote decentralized moderation?
It's much more fashionable than self-voting.