Upvoteshares | Rule Change Proposals

in palnet •  6 months ago 

The Upvoteshares project has been running for over a year with the aim to provide Steemians that are here for the long run bringing decent quality content with a daily upvote. The model that is used has shown to work giving good returns even after HF21. Since so much has changed, I made a couple of rule change proposals to make sure everything remains in balance and as fair as possible....


All the proposals below are just ideas to improve things and keep everything fair in line with the program. I would love to get feedback and suggestions on them in the comments and feel free to speak your mind. If anything, I'm always open to facts, numbers and good reasoning.

Proposal 1 : Curation Reward Dividend Payouts

This project was once started to improve on some of the models of other 'support programs' (See Post) by putting it's shareholders first. The 10x self-upvote number has always been the big reference when talking about returns and this will continue to be the case. The upvotes used to be set at minute 20 on the 30-minute voting window and minute 12 when this was changed to the 15-minute window which took ~20% curation rewards. Now with the 50/50 reward split things have changed drastically. It is by no means the intention of the program to take 50% of the rewards even though the upvotes active shareholders get after curation are still above the 10x reference.

So I would like to introduce curation reward dividend payouts giving part of the curation rewards back to the shareholders. Desciding who gets how much in a 100% correct way can get quite complicated because curation rewards depend on the size of the upvote and how much votes come in afterward along with the fact that I have a limited amount of time.

Right now, the program invests 10% extra on all the Steem that comes in each new level. This both speeds up the level progression and allows for each share to become a bit more expensive each round increasing the returns of existing shareholders (See Table). Each new Level that opens up, I would distribute an equal amount to that as curation reward dividends. (This makes it easy so there doesn't have to be a power down yet). A minimum number of shares needs to be owned before a shareholder can benefit from these curation rewards and there would be a multiplier for up to 100 Shares. Having 10 Shares or less would not give curation dividends. Everything above would have a multiplier of 0.2% for each extra share. (Formula = 1+ "Amount of shares" x 0.002). The reason for the multiplier is both because bigger upvotes potentially give better curation rewards along with the fact that it's a good way to give back to those who have supported the project and give a good incentive to get involved into this project which increases the returns for everyone.

This is what curation reward dividends would look like when Level 18 is ready to open up...

All curation rewards form inactive reserved shares along with the ones from smaller shareholders will go to those that have 11 shares or more with each share being worth a tiny bit more. 11 Shares in Level 18 are worth 47.08 STEEM (11x4.28) and would give 0.343 STEEM as curation rewards which is 0.73% for that level. This is the percentage when counting the current share price, so for those that have been involved for a longer time it will be more because they got in at cheaper prices and the growth of the account is added to their returns. The Dividends increase with 0.3 Steem each level which will most likely not be enough to keep it fair as the project grows so I might increase them doing a tiny systematic power down once we are above level 20.

SharesTotal STEEMReward/ShareReturn
11 Shares47.08 STEEM0.0312 STEEM0.73%
100 Shares428 STEEM0.0366 STEEM0.86%

The reason smaller shareholders would not get curation dividends is that the bigger accounts help them get higher returns as all unused upvotes are returned to active shareholders and because It will simply be too much work for me. Getting more shares brings all previous shares into a higher multiplier level in a way I believe is quite balanced.


Proposal 2 : Extra Account Safety Measures

With the model this project uses, all shares represent ownership in the account and the STEEM that was put in by Shareholders remains in their ownership. If the project would ever come to an end, there would be a power down and everyone can claim their Steem and have it returned to them. This brings along a potential flaw of having to trust I will not run away with it as outlined in the Terms and Conditions. One other situation that could possibly happen is for me to basically drop dead. If this were to happen right now, the upvotes would continue for as long as steemauto is operational but that's about it.

The most practical solution I see is to Share both the Private Posting and Private Active Key with @roleerob who I consider highly trustworthy. He has reached 100 Shares in the account and showed major support to this project being one of the reasons everyone has been getting excellent returns. This would exponentially increase the safety of everyone's funds as the chance of both of us dropping dead is really small..


Proposal 3 : Quality Control (Actifit)

The original Terms & Conditions everyone who gets shares agreed-upon stay this...

I get that the entire Steem crypto blogging reward model is quite broken and very much pushes people toward "low effort vote farming" since quality is not a factor that makes all that much of a difference earnings wise. It has never been my intention to overly police the place and only once I was close to making an intervention when the drugwars spam post were a thing which got pushed off the platform.

Currently, Actifit posts who all have the same title and cover image are a plague on the platform and more shareholders have been using those as an easy way to make a daily post and farm votes. I don't claim all posts should be just about quality, but when it literally takes less than a minute to transform a complete shitpost to something that at least looks unique I don't think it's too much to put this as a minimum standard.

My proposal would be that Actifit is allowed if:

  • It has a different cover image showing on the front page.
  • It has a different post title compared to the standardized form.

I made a post with 35 ready-to-go cover images that can be used including the free image source link. See Free Actifit Thumbnail Image Collection and might do another one in the near future.

Example

Proposal 4: Level Transition Changes

For the last 17 Levels, I've been extremely consistent when it comes down to the opening, closing and completing of each level. While I plan to continue this in the future, I will make some changes going forward that will make it less time-consuming for me. At the start, it was hard to get in so I added a maximum number of shares that could be gotten in a single level to give everyone a chance. This made things fair but also brought about a lot of hassle. Since many are starting to reach the number of shares they aimed for I will allow anyone who wants to get in as many shares that are available again from now on.


List All Shareholders

-ShareholderShares
1@roleerob100
2@costanza95
3@macoolette58
4@glastar50
5@trincowski37
6@jlordc35
7@newageinv31
8@byebyehamburgers28
9@fullcoverbetting27
11@abh1234522
10@braaiboy20
12@stimp102419
13@blanchy17
14@mango-juice15
15@erikklok13
16@bashadow13
17@fredkese12
18@andrewharland11
19@o0711
20@pifc11
21@plantstoplanks11
22@angelacs10
23@doughtaker10
24@thedarkhorse10
25@romeskie10
26@barbara-orenya10
27@ervin-lemark10
28@meesterboom9
29@incubot9
30@bengy7
31@simplymike7
32@beat-the-bookies7
33@revisesociology6
34@barbadosso5
35@sportfrei5
36@maarnio4
37@shookriya4
38@cicisaja4
39@lawlees3
40@tryskele3
41@lynncoyle13
42@crypto-econom1st2
43@wolfhart2
44@mermaidvampire2
45@acidyo2
46@nanzo-scoop2
47@acelad2
48@jznsamuel2
49@balticbadger2
50@craigcryptoking2
51@insight-out2
52@minnowbuilder2
53@celinavisaez2
54@patriamreminisci2
55@blessed-girl2
56@fitat401
57@lenasveganliving1
58@woman-onthe-wing1
59@steevc1
60@slobberchops1
61@numpypython1
62@fulltimegeek1
63@themanwithnoname1
64@rishi5561
65@lovetaxi0051
66@veryspider1
67@eoj1
68@mmunited1
69@keegzhawkins1
70@adelair1
71@viking-ventures1
72@el-nailul1
73@buckaroo1
74@marya771
75@team-ccc1
76@janton1
77@minnowbuilder21
78@puravidaville1
79@gamercrypto1
80@theonlyway1
81@minnowbuilder31
82@alexbiojs1
83@happyme1
84@jaynie1
85@nonsowrites1
86@oliviackl1
87@beerlover1
88@johannpiber1
89@phortun1
90@amico1
91@gillianpearce1
92@shasta1
93@minnowbuilder41
94@curatorcat1
95@playdice1
96@mimismartypants1

That's about it for the changes, all comments and feedback given will be taken into account and I will make a final post with everything clearly lined out in a coulple weeks from now. All shareholders will be able to cast their vote. Thanks !

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So I am one share away from getting the dividends?
😭😭😭😭😭

Where can I get this one share?

No, seriously. I support all your proposals including the @actifit one.

I post the reports daily, sort of diary, and make very certain that the title and cover image, not mentioning the content, are unique.

One final remark. I do hope that @roleerob and you don't travel on the same plane ✈️😊😀😭😉🛫

Thanks for all the effort, thoughts, time, everything you are putting into this.

Posted using Partiko Android

Well @ervin-lemark ...

"I do hope that @roleerob and you don't travel on the same plane ✈️😊😀😭😉🛫"

... given that @costanza and I live on almost the opposite sides of our beloved planet, I think you can rest comfortably assured this will not happen ... 😉

Decentralization in action ... Hahaha ... 😊

Using actifit that way is exactly how it should be done. It's actually quite sad to see so many not caring since so little effort can make such a big difference in how these posts present themselves.

Thanks @ervin-lemark

I forgot to ask...

Are dividends to be paid out once per level or...?

Posted using Partiko Android

Yes, I plan to send the dividends before each level is openes up. Pretty much Instead of powering down to give part of the curation rewards I use the 10% I put in extra so cancel each other out making it quite easy. Should be next monday if I find the time.

Hope all the good👍

Posted using Partiko Android

Looks like a pretty solid plan!

Will try to increase my share holdings.

Very good @costanza. As always, I appreciate the thought and effort you put into this program. Which is one of the reasons I elected some time ago to invest as much into it as I have.

I am humbled and honored that you have chosen me to help shore up one potential problem. Of course, I hope the need to have to even think about it never becomes reality. May you “live long and prosper” @costanza! 👍

On this …

”All curation rewards form inactive reserved shares …”

… how are you defining ”inactive?”

Also (no promises or commitments to be implied …), would you please confirm that any of us may elect to purchase shares for an account other than our own? It would take a bit of a “tweak” I suppose, on the content of the memo for the transfer of STEEM transaction, but I assume that is not a problem.

Other than that, I fully support all that you have laid out for us here in this post. I would encourage all shareholders to give some thought as to how this program might be “marketed” in their own way. I will give that some thought myself. For now, I am resteeming this post. To my ”legion” of supporters … 😉 👍

… how are you defining ”inactive?”
Shares that have been paid for by the program but are not active. Those are for sponsorship conversions, potential future giveaways & shares that have been burned. I could choose the pay their dividends out to the program but rather just increase the returns for everyone that is really Involved in the project.
would you please confirm that any of us may elect to purchase shares for an account other than our own? I

I used to have it written in previous post where new levels become availabel but removed it to shorten th post a bit.

So basically it's possible to sponsor someone giving them the benetits of the upvotes while the steem will be returned in case the project would come to an end.

Thanks for the resteem! For as far as marketing goes, as long as the program will give good returns I'm sure it won't be much of a problem to continue progressing. I'll have the program buy up the shares that don't get sold which increases the returns for everyone and the curation dividend system also gives a good incentive I would say as getting more share increases the curation dividend % of all previous shares.

Thanks!
(I'll reply on Discord Tomorrow)

Okay, thanks!

I agree to the proposals! Great choice in @roleerob!

Posted using Partiko iOS

Thank you sir! I appreciate your support @newageinv. Hopefully, for the sake of @constanza and his loved ones, after this post, we'll never have to think much about it again!

Posted using Partiko Android

They all look fine to me. I don't fully understand why the curation reward dividends for me show different than for the other 13 share holder, but I am guessing it is because I was 'Gifted" a share initially.

The change and making the Actifit post look a bit better and less plain is a good idea. Some days and time frames my feed is a sea of red.

No, it's just a mistake from my part I see now. Gifted shares also pay dividends as normal shares. The only difference is that they can't be sold.

Thanks @bashadow!

First off I need 2 more shares the next time they are available for myself and pifc would like to purchase 1 share. Get us both up to 12 shares.

With that out of the way onto the proposals. I think you are good with all except Actifit. If you are running your own bot skip any posts with the tag and call it a day. Trying to manually see who is making better posts vs pure spam is way to time consuming IMO. The posts are about equal to when Drug Wars users made a post for battle reports to earn a vote. At least now those don't clutter the news feeds of everyone.

Reservations have been added, 11 share is the minimum to receive curation didvidends. there is a multiplier making all shares worth more in dividends for each extra share up t 100 max which gives a 20% bonus on all shares.

For as far as the actifit posts go, I'm using steemauto and there is no way I think to auto-exclude cerain tags. I think it's at least a step in the right direction to void standarized actifit posts. Some actually make valid actifit posts so it would not be fair to them to auto-exclude those. I do agree though on the drugwars comparison.

Thanks for making those reservations.

I don't think steem-auto has any functions like that either or I'd already be using it...lol.

BTW, still waiting on BJ to get back to me. Sorry on the delay for that.

Don't have a problem with the new system

Posted using Partiko Android

Great work as always! I'm a little behind in commenting, but I think it all looks good! Definitely a good idea to have a back up person just in case. Though hopefully you never have to worry about that. :)

Have people been using your Actifit thumbnails at all? I still think that was such a great idea, so I hope people have actually started to take advantage of it. It really isn't that hard to add in a quick cover photo along with your post. Not everyone writes novels like I tend to in my posts, but a tiny bit of customization goes a long way in making a post actually worth sharing.

Some actually have used them which was nice to see. I haven't pushed it that much though but will have some time next monday to make another one and maybe leave a reply in some of the actifit posts hoping they will change their ways. It's true that a tiny bit of effort makes a huge differnce. Than again, I guess most simply don't care whatsoever. I'm hoping at least to change the mind of some that are part of this project.

Yeah, it can take time for people to realize that the option is there. Perhaps they could pin that post in the Actifit discord or something for easy reference? Just a thought. :)