@sportsvoter- A new bid bot which adds another utility to SPORTS-- A detailed guide on "How to delegate SP to @sportsvoter" & "How to bid"

in sportsvoter •  7 months ago  (edited)

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The decentralized social blogging in Steem blockchain has been reshaped through tribe culture and it has become possible with Steem-engine and its scotbot. The different use-cases, the tokenization, the curation, the area of specialization, the specific interest of bloggers have become more precise and the second layer economy has given us a redefined opportunity to the various types of social bloggers, curators available in this community.

Sports being an integral domain of our daily life has a significant fanbase of the various types of sports. The associated bloggers are also good in numbers in Steem blockchain. Taking motivation from this and in order to cater this community in a specific way in Steem blockchain, Sportstalksocial.com has evolved with a tribe called SPORTS token to give a new opportunity and a new home to the sports lover in Steem blockchain. Every day most of us, talk about sports in some form or the other and now the evolution of tribe culture has given every sports lover an opportunity to stay motivated and feel energetic when they talk about sports, they can be a bit more professional & organized and publish their article and earn rewards in the form of SPORTS token which has a monetary value.

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With the essence of second layer economy in Steem blockchain, Sportstalksocial has evolved as a second layer on the top of Steem blockchain which aims to offer a new home for the sports lovers. The sports lovers can talk about their favorite sports they like and earn SPORTS token. One can be conversant with the other sports bloggers in many ways through Sportstalksocial and earn SPORTS token. Anyone having a Steem account can gain access to Sportstalksocial.com. Anything relevant to Sports is welcome to be discussed herein Sportstalksocial.

The bloggers can either use the front end of Sportstalksocial.com or can use #sportstalk tag in their post, in case they post from a frontend other than Sportstalksocial.com.

The best part about Sportstalksocial is that it has a very precise category and sub-categories of different sports which enables different sports lovers to find the like-minded people within the community and they can better engage with each other and share their thoughts in a better way.

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  • Total Supply- 1 Trillion
  • Payout Split- 50/50 (Author/Curator)
  • Payout Window- 7 days

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The existing use case of SPORTS token is to reward the authors who post sports-related content and also to reward the curators. But recently they have introduced a new sink to the SPORTS token. Now SPORTS token has an additional utility and that is SPORTS token can be used to bid for Steem Power upvotes. The users in Steem blockchain can send SPORTS token to the bid bot @sportsvoter, with their post URL as the memo and can get their post upvoted with Steem Power of @sportsvoter. Please note that @sportsvoter's vote will yield only STU (Steem Token Units) and hence your payout will be in the form of STEEM/SBD for the votes received from @sportsvoter.

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Generally, the use-case of a bid bot is to boost a post to push its rank up in the trending page, so that the post will have larger visibility and better productive engagement from the community. So bid bots are generally the promotional tools using which authors can promote their post by buying upvotes. While this service is existent in the Steem ecosystem it has its downside as well.

Bid bots were largely criticized in past as it fails to check the choicest abusers & bad actors and at times shit content pushed up the trending page, some of the people intentionally abused this facility & tried as much as they could to exploit this concept and tried to use it as a tool of ROI. Moreover, many bad actors tried to promote poor contents, spam contents and plagiarized materials using this promotional tool.

Apart from that the some of the bid bots by their own design are with flaw as their design is to reap the rewards either directly or indirectly. So the ethical conduct of some of the bid bots is also a question mark. What a bid bot contribute to the ecosystem and with what objective it has put its service is also important.

@sportsvoter is also a bid bot but the way it operates is completely different from the traditional bid bots. First of all, it accepts bids in SPORTS only, not in STEEM, and it upvotes with Steem Power only, it has nothing to do with the trending page of Sportstalksocial. It acts as a promotional tool to promote Steem content.

Of the SPORTS that are sent to @sportsvoter there will be 95% burned from the market. This happens by transferring the tokens to the account @null as they become unclaimable here. The remaining 5% will be sent to @postpromoter for providing the Sports Voter system.

So while it brings a new utility to SPORTS tokens, it also focuses on token demand. As it burns 95% of the tokens received, it takes out a major part from the supply, that means it makes SPORTS more demanding. The supply/demand ratio benefits from this concept and it will affect the price of SPORTS positively.

Further, the delegators to @sportsvoter will be incentivized through inflation pool. That will allow up to 20% of the new SPORTS issued each day to be paid to the SP delegators.

Let's have a look at the following table how many new tokens will be issued and how much delegators can earn.

Total SP Delegated% of RewardsTokens Distributed
<20,0001%28,800
20,000-49,9992%57,600
50,000-99,9995%144,000
100,000 - 499,99910%288,000
500,000 - 999,99915%432,000
1,000,000+20%576,000

New tokens will be issued in daily batches and distributed by a delegator's percentage of the total share of tokens delegated. This would mean if someone had delegated 100,000 SP of a 1,000,000 total they would receive 10% of the 576,000 for roughly 57,600 SPORTS.

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There are many other tribes in this ecosystem and they also have a similar sink but SPORTS structure of payout to the delegators is different than the others & it is unique. It makes the structure more interesting for the delegators, so the SP delegators may be willing to delegate more to this bot. So I guess, this bot will get more SP delegations as compared to other tribe's bot.

Currently, @sportsvoter has 51570 SP out of which 5044 SP is its own and 46256 SP are delegated. From the above table if it reaches 50000, then the rewards will be 5% and the token distribution will be 144000. This is exactly where it looks more attractive because from 50000-99999 delegated SP it is paying 144000. Delegation will eventually grow up but those who delegate at the beginning of a new slab as tabulated above can earn more tokens. That is why I have finally decided to delegate to this bot.

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  • Bidding window- 2.4 hours
  • Acceptable Bids- SPORTS
  • Upvotes- With STEEM POWER only
  • ROI- 0 to 20%(No negative ROI)
  • 95% of the SPORTS bid received in @sportsvoter are burned
  • Min/Max Bid- 10/1000 SPORTS
  • Min/Max Age- 0 mins/3.5 days
  • Incentives to SP delegators in the form of SPORTS tokens as per the following table:-
Total SP Delegated% of RewardsTokens Distributed
<20,0001%28,800
20,000-49,9992%57,600
50,000-99,9995%144,000
100,000 - 499,99910%288,000
500,000 - 999,99915%432,000
1,000,000+20%576,000

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@sportsvoter as a bid bot improves Sportstalksocial in its tokenomics for a couple of reasons. Some of them are:-

  • It brings a new utility to SPORTS tokens- It upvotes the post with SP, not SPORTS Power. So it helps to push the content to the Steem trending page, not Sportstalksocial trending page. It accepts the bids in SPORTS. So it brings s a new utility to the SPORTS token.

  • It makes the supply/demand ratio in favor of SPORTS- As it burns 95% of the SPORTS bids it receives, it takes out a part SPORTS tokens from the supply, therefore less supply & more demand for SPORTS tokens.

  • It creates an opportunity for the SP delegators to earn SPORTS tokens by delegating SP to @sportsvoter. Anyone can simply delegate to @sportsvoter and start earning daily rewards in SPORTS. The reward structure has different slabs and those who delegate early can definitely earn more SPORTS token. Those who enter a slab early can earn more SPORTS token and eventually, in time the @sportsvoter account will grow in its SP size.

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  • The SP delegators delegates to @sportsvoter.

  • The bidders send SPORTS bid along with URL of the post as a memo to @sportsvoter for Steem Power upvote.

  • Of the SPORTS that are sent to @sportsvoter, 95% are burned by sending to @null & the remaining 5% are sent to @postpromoter.

  • The SP delegators are received their rewards as per the slabs, as given in the tabular form in this post. For example, suppose the total delegated SP is 60000 SP, then the rewards will be 5% of the pool(subject to a maximum of 20% of the inflation pool). The 5% is otherwise 144000 SPORTS token. So if you have delegated 6000 SP out of the total 60000 SP, then your share is 10% of the 144000 SPORTS token, means 14400 SPORTS tokens.

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There are many tools available to delegate SP to @sportsvoter. Some of the most common tools are - Steembottracker, Steempeak, Steemworld, etc. I have used Steempeak to delegate to @sportsvoter. I have delegated 579SP to @sportsvoter. So you can follow these steps to delegate(using Steempeak) to @sportsvoter.

  • Go to https://steempeak.com. Log in using your Steem account credentials. Then go to your wallet section.
  • In your wallet section, you can see your Steem Power, where "Delegate" option is also available. Click on "Delegate".
  • Then a pop-up will appear where you need to enter the "Delegatee" name which is sportsvoter in this case and then enter the amount of SP you want to delegate.
  • Authorize this delegation either through Steemconnect or through Steem Keychain.

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  • After posting your blog in Steem, you can proceed to send SPORTS bid using any frontend such as Sportstalksocial or Steempeak, etc or even you can use Steem-engine to send your SPORTS bid to @sportsvoter.
  • Enter the bid amount of your choice(anything between 10 to 1000 SPORTS) and in the "memo", simply paste the link of the Steem post. Make sure under "To" the username is @sportsvoter.
  • Then click on "Send" and authorize it either via "Steemconnect" or "Steem Keychain".
  • You can head over to Steembottracker to check whether your bid is showing or not.
  • Once the bidding cycle completed, it will upvote your post.

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  • It adds another utility to SPORTS tokens.

  • As it accepts SPORTS only and as it is a good bot with no negative ROI and good positive ROI(up to 20%), the bidders will be motivated to use this bot.

  • As it accepts SPORTS only, the bidders will buy SPORTS in Steem-engine for bidding SPORTS to use @sportsvoter bid bot. That means it will otherwise generate some trading volume for SPORTS tokens in Steem-engine.

  • As it burns 95% of the bids in SPORTS by sending it to @null, it effectively takes out some of SPORTS tokens out of the supply. That means it helps to adjust the supply/demand ratio which is favorable to SPORTS tokens demand. So, that will ultimately help to boost the price of SPORTS tokens.

  • The SP delegators earn incentives in the form of SPORTS tokens and there is a detailed structure with different slab and those who delegate SP definitely gets good incentives. Nonetheless, the idle SP can be utilized effectively with @sportsvoter.

  • It is a win-win situation for all entities as bidders earn STEEM POWER upvotes, SP delegators earn SPORTS tokens, @sportsvoter earns curation reward, SPORTS tokens gets another utility and also more demand, Sportstalksocial benefits as some SPORTS tokens are constantly removed from the supply.

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Steem-engine is new to some of the users in Steem ecosystem so as Sportstalksocial. The secondary economy in Steem ecosystem is expanding at a faster rate. Sportstalksocial is an example of a secondary economy which is dedicated to catering sports-related content. But apart from that, the token economics needs to be duly addressed. The token utility should serve a variety of use-case. A better sink of a token is vital for long term growth. The structure should be designed in a way so that the token's price benefit from it. In that regard, introducing @sportsvoter as a bid bot to vote with STEEM POWER yet accepting bids in SPORTS is a well-thought idea to enhance the usability of SPORTS tokens. The incentive structure for SP delegators is also quite attractive. @sportsvoter is very likely to get more SP delegators and it will serve the intended purpose within the ecosystem.


Disclaimer

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.


All the images & screenshots are taken from the official sites of Steem-engine & Sportstalksocial. The graphical analysis is my own original work.

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Very detailed analysis and information.

Thanks a lot sir.

:/

This is an excellent description @milaan. I am honored you put the time to make this and will happily be upvoting, resteeming and sending some @sportsvoter love its way!

Thank you so much sir.

Congratulations! This post has been manually curated by @leocurator and will be showcased in the LEO Curator Daily curation feature post. "The LEO Curator blog intends to compile all top curated #steemleo posts for the convenience of other LEO users in search for time worthy posts."

So can I put a bid on any type of steem post? I find this service interesting and want to try it out.

Yes, try it, sir.

Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 8 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.

I upvoted your contribution because to my mind your post is at least 4 SBD worth and should receive 446 votes. It's now up to the lovely Steemit community to make this come true.

I am TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!

Have a nice day and sincerely yours,
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TrufflePig

Nice description, thanx for it.

Thank you sir.