Member Upvotes Provide Sustainability 12 July 2019
Steem Basic Income
Steem Basic Income is a social experiment to bring a voluntary crowd-funded basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through regular upvotes to member content.
Support from Members
Thank you all for your support! Upvotes that we receive from members are an important component to continue delivering a sustainable basic income!
Here is a visualization of our incoming votes for the last week.
9.2% of our total value received was from our low 3.14% self-voting. Less than 24% of our sustainability coverage is provided by author rewards. Ideally it would be at least 33% (or high enough that our self-vote percentage is higher than our total value received from that self-vote.
Curation rewards have been gradually falling over the last couple of months as more and more people are using SteemRewarding and other curation optimizing bots instead of steemauto and steemvoter. Author rewards have not been growing fast enough to make up for this loss, resulting in a flattening of our total SP rewards trend.
Each time we receive author rewards for a post or comment by any official SBI account, we check the value that each member added to the reward. That value will be added to the member's balance, with a multiplier of 1.10x.
For example, if you upvote this update by $0.10, then $0.11 would be added to your balance when the post pays out. In most cases, this means that a vote for SBI is more profitable than a self-vote. You are rewarded directly for your contribution to the long-term sustainability of the program! You do still have to be enrolled in @steembasicincome to receive this benefit.
This is a great way to boost the Steem Power for program accounts. If your program (or account) does any self-voting to build a permanent SP base, please consider upvoting @steembasicincome each day instead.
(Official SBI Accounts: @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, @sbi6, @sbi7, @sbi8, @sbi9, @sbi10, @sbi-booster. Our automated system dynamically selects the best account to deliver your upvote at the time of upvote delivery.)
We currently have 4874 members that have posted or commented within the last 28 days. Members that are not posting continue to accrue their pending upvote balance, and upvotes will resume automatically when they return. There are currently 225872 subscribed units in the program, up from 223782 last time we published this report six days ago.
If you want to get involved, or to increase the share of basic income that you receive, enrollment is pretty straightforward:
Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 unit in the program. You can sponsor any active Steemian, it does not have to be a current member.
In effect, when you enroll, you are 'curating' another account to receive ongoing support, and at the same time receiving curation rewards - an equal level of ongoing support. If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
The official currency for enrollment is STEEM. If we choose to accept SBD without refunding it, you do not receive extra value for it. Enrollments are processed automatically every 144 minutes.
Questions about Steem Basic Income?
Most questions are addressed in our FAQ or in these helpful resources. If you still have questions, ask in the comments section or join us in our discord channel.