Quora Onboarding Initiative. Q- What is the DApp Sportstalksocial all about in Steem? How many sports tokens are minted per day to reward the content in this DApp?
Q- What is the DApp Sportstalksocial all about in Steem? How many sports tokens are minted per day to reward the content in this DApp?
Sportstalksocial is a decentralized application on the top of Steem blockchain. Its aim is to offer a platform to discuss sports-related content. The sports lovers can talk about their favorite sports they like and earn SPORTS token. SPORTS is a tribe token of this ecosystem and a part of the second layer economy of Steem blockchain. SPORTS tokens have a value and can be traded in Steem-engine.com. Sportstalksocial is one of the busy dapp and it has a good size of users discussing sports & curating sports-focused content on a daily basis.
Sportstalk social is a listed dapp in Stateofthedapps.com which is a curated directory of dapps of various popular blockchains. https://www.stateofthedapps.com/dapps/sportstalksocial
A user can log in to Sportstalksocial.com using the Steem key and post a sports-related blog that will feature in the dapp Spprtstalksocial. Alternatively, a Steem user can also use the #sportstalk tag in their post, in case they post from a frontend other than Sportstalksocial.com.
Any post in any dapp can potentially earn multiple tokens along with the native token STEEM, subject to the condition that the tags must be relevant to the subject of the topic. So Sports related content posted in Sportstalksocial can also earn SPORTS, STEEM and other general category tribes if the user has used those tags.
The current circulating supply of Sports is 100.337 Billion and the payout split in this dapp is 55/45, which means the Author gets 55% of the payout and the curator gets 45% of the payout. The payout window is 7 days. The reverse auction is same as Steem, which means 5 mins.
In order to reward the content creators & curators, 80 SPORTS token are minted per Steem block. So from this, we can calculate how many SPORTS tokens are minted on a daily basis in Sportstalksocial to reward the content creators and curators.
In Steem blockchain every 3 seconds, a new block is produced.
The total number of blocks produced in Steem blockchain per day= (60 / 3) * 60 * 24= 28,800
So total number of SPORTS tokens being minted per day in Sportstalksocial= 28,800 * 80= 2,304,000
SPORTS tokens being minted per year= 2,304,000 * 365= 840,960,000= 0.84 billion
Thats a good calculation, but I think if every year .8 billion sports token will be produced, then the value will decrease. As the supply is increasing and demand is constant - Value will decrease unless burning of tokens will happen.
The value of SPORTS has already decreased. During the first two months of its launch the value of SPORTS was 0.00300 STEEM per SPORTS and the same is now 0.00060 STEEM per SPORTS. I think we need better adoption rate and additional token sinks, to spur sustainable growth of this token.