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Changing the Basis of Rewards on the Steem Blockchain by khaleelkazi

View this thread on: hive.blogpeakd.comecency.com
· @khaleelkazi · (edited)
$3.09
Changing the Basis of Rewards on the Steem Blockchain
https://khaleelkazi.com/wp-content/uploads/2019/06/Changing-the-basis-for-rewards-on-the-Steem-blockchain.png

Steemit, Inc. made an announcement post yesterday about the Hard Fork 21 (HF21) testnet going live. They did not, however, make a post that did much of any kind of real explanation of what to expect.

While I’d like to see 1 post from them that both announces HF21 and also tells us what exactly is going to be in HF21, I can still work with what they’ve given us.

HF21 is essentially all about economic changes to the way that STEEM is rewarded to content creators, curators and people who add value to Steem via projects (Steem Proposal System). 

By changing the reward curve, splitting author/curator rewards 50/50, adding a downvote pool and adding a Steem Proposal System, Steemit, Inc. hopes to solve the issue of content discovery and abuse of the Steem blockchain. 

<hr>

<center><h4> [Originally Posted on My Blog. Click Here to Read This Post on My Website!](https://khaleelkazi.com/changing-the-basis-of-rewards-on-the-steem-blockchain/)</h4></center>

<center><a href="https://khaleelkazi.com/changing-the-basis-of-rewards-on-the-steem-blockchain/)" rel="Khaleelkazi.com">![Foo](https://cdn.steemitimages.com/DQmbAeZ2xNQsnvJB37Vc7YmQufR9w2paeXhRGJBKpqa5Gj6/khaleelkazi.com%20galaxy%20banner.png)</a></center>

<hr>

While I think there is a chance these changes could help, I still don’t feel like they’ve thought this one out very well. Steemit, Inc. has a bad history of thinking in a vacuum rather than talking to the people who actively use this platform each day. Even some of the witnesses are guilty of this as well. 

I know I keep beating a dead horse with this one, but let me tell you why Palnet has made these changes kind of irrelevant to me as an (aspiring) content creator/curator on the Steem blockchain.

<h4> The Introduction of Tribes and the Example of Palnet.io Makes these Economic Changes Irrelevant — If You Want it to Be So</h4>

I have noticed that my content on Palnet gets WAY more votes than it does if I post solely on Steemit. 

Not only that, but it gets way more engagement. Engagement is the thing that actually makes content creation worthwhile. You get to see what people think of your work and see if they actually appreciate the time you put into it. 

Making things out of passion is the way to make your life have meaning. Creating something that is worth sharing and that actually gets shared on a platform is more rewarding than I can explain with words. 

On Palnet, this is all happening for me.
1. I’m getting more rewards
2. I’m getting more engagement
3. The work feels more rewarding
4. Creating posts and curating posts is once again interesting

<h4> Palnet Trending Page</h4>

Palnet is just a little over 1 week old. Head over to the trending page and while you see a lot of Palnet related content, you will also see that it is all GOOD content. 

It may not all be 10/10, life-altering content, but the content is good and it clearly has effort behind it rather than a fiery drive to arbitrage the blockchain for short-term financial gain.

Curation and moderation on Palnet is working. Palnet has a slightly superlunar curve, 50/50 rewards, and 1 free downvote a day for each user. While I believe that these factors have some level of contribution to bettering the content discovery here, I believe that something even larger is at play:

I would argue that these 3 economic changes to the structure of Palnet rewards contribute to better content discovery by (maybe) 10-20%. 

**If the economic changes are only a fraction of the reason why Palnet content discovery is working, then what makes up the greater chunk?**

Good question… I believe that the remaining 80-90% are split between a better stake distribution and a more niche community (a.k.a. Tribe). 

After the claim drop, most of the weak hands got rid of their PAL. These are largely the nonbelievers in the Palnet ecosystem. 

Thus, the stake flowed into the hands of people who want Palnet to succeed and who see the vision for a better future for the Steem blockchain. For all content creators. For all content curators. For Tribes, etc. 

Now we have motivated curators who are looking for the best content to rise to the top. People who really care about Palnet.io and not even necessarily the Steem blockchain. 

Niching down into a smaller community has allowed for people to be more honest about their content. It allows for better engagement and more like-minded individuals to gather around the best ideas. Thus, **good** content is floating to the top while the spammy trash stays where it belongs - at the bottom of the big, blue ocean.
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vote details (75)
@adenijiadeshina ·
$0.22
Palnet has really taken over for now and so I don't think I really care about the changes for now. Palnet makes it more interesting and I hope it continues
👍  
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@amico ·
$0.02
I came for the money (you're staking 43,504 PAL) but i stay for the content: great article,  @khaleelkazi! ^_^ 

I'm using palnet.io even if I greatly prefer @steempeak's interface... let's see if someone will make a fork or if @steempeak devs themselves will provide a PAL view of the Steem ecosystem.

Cheers!
@amico
👍  , ,
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@baah ·
$0.02
https://steempeak.com/utopian-io/@anarcist69/individual-site-settings-new-sites-i-love-steempeak-v1-1-0

I think this is something like that, not sure though.
👍  
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@amico ·
$0.02
Oh yeah, I was using previous version  on Brave and I’ll check this update! Thanks for the URL! 👍🏼

Posted using [Partiko iOS](https://partiko.app/referral/amico)
👍  ,
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@jarvie ·
$0.04
Yes steempeak is interested however from what I understand most scot projects are centralized systems and Scot itself is a centralized privately owned service so even though they are presently open source it's likely best if they are also on board with integration into steempeak ... I'm guessing you the users could request this? @amico @riverflows ... I guess tell them why you'd prefer steempeak interface or why the present one is lacking. 

Btw what all would you want... so see the reward amounts and maybe sort by reward amounts? Is there much else going on for the interface beyond what scot does as a paid service to the owner of the token? 
👍  ,
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vote details (2)
@amico ·
$0.02
Thanks for coming and commenting, @jarvie!

In addition to @khaleelkazi's request, I would like to claim rewards and power up SCOT tokens. 
Also, it would be nice to see the weight of the Upvotes not only in STU but also in the SCOT tokens, where applicable... is it almost like asking for the moon? ;)

Cheers!
👍  ,
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@khaleelkazi ·
Personally, I'd like to have a way to see the total rewards on a post -- all the tokens involved; STEEM, SCOTs, etc. 

It would also be nice to see all the vote % and what their vote yields in terms of SCOT and STEEM. 

Maybe even some sort of link to take you to the native SCOT interface. 

Mostly #1, but the other 2 are also cool features that would be handy. As it stands, I spend a lot of time flipping to the same posts between Palnet.io and Steempeak/Steemit/Partiko to see both sides of the rewards.
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@riverflows ·
Sorry i missed this mate. 

I like Steempeak as you can set beneficiaries and different authors, plus organise drafts. Its a clean and easy to use interface. 

I like the way Steempeak devs listen to what we want and constantly update accordingly.

Posted using [Partiko Android](https://partiko.app/referral/riverflows)
👍  
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vote details (1)
@khaleelkazi ·
$0.02
Haha yeah I got a little lucky by picking that up when everyone was trying to offload it like crazy over discord and Steem Engine. 

I use palnet mostly to check PAL payouts and what-not. I still prefer using Partiko for most of my reading/commenting type activity. I’m also mostly working from my phone so it helps a lot. 

Thanks for staying and leaving comments in your trail! ;)

Posted using [Partiko iOS](https://partiko.app/referral/khaleelkazi)
👍  
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@amico ·
$0.02
When doggy walking (like now), I’m using partiko too! 👍🏼

I purchased just a few PAL at sale price because I was short of liquidity. When I received it, price was pretty high, so I opted for PALMM in a long term strategy. 😜

Posted using [Partiko iOS](https://partiko.app/referral/amico)
👍  ,
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@riverflows ·
$0.03
Ditto. God i love Steempeak. But BELIEVE in PAL!!
👍  
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@delegate4upvot ·
It is true that Palnet has made a difference especially for me. I have not been reading articles on steem for a long time until Palnet comes into the picture with manual curation with bots to earn palcoins. There were many who complained about not getting their posts noticed because of auto-upvote of popular authors by bots. For me, Palnet has made me read articles posted on Palnet just like I had read your articles. Engagement indeed has increased with real readers rather than upvoters who are not reading.
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@javirid ·
> I have noticed that my content on Palnet gets WAY more votes than it does if I post solely on Steemit.

That's because people want those double rewards. Not because more people on Pal thinks your content worths a higher reward. 
👍  ,
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vote details (2)
@baah ·
People in general want to see only what they want to see. I stoped "caring" for what they wrote when they said that they think steemit and the large stakeholders "think in a vacuum", likely it's a projection because I doubt they themselves really consider what they said. 

The whole post is essentially : steem stakeholders don't care or want steem to succeed, like palnet stakeholders want palnet to. Yeah, palnet somehow exists in a vacuum where people actually care about succeeding, their investments, unlike steem, and this isn't a grotesque example of tribalism.
👍  ,
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vote details (2)
@roger.remix · (edited)
Haha.. love your input and thoughts on this [@javirid](https://steemit.com/@javirid) & [@baah](https://steemit.com/@baah)! That's why I find all of this a "very healthy development" for Steem. Like a candy to a Walking Dead. But put jokes aside or add some more on top.. who cares?!? 😆😂🤣
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@mindtrap ·
$0.03
Jokes aside, I seriously considered powering down a portion of my SP, (maybe a week or two of a powerdown) and trade it for PAL.
👍  ,
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vote details (2)
@amico ·
I had the same (insanely?) idea, LOL! 😂

Posted using [Partiko iOS](https://partiko.app/referral/amico)
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@khaleelkazi ·
Lol, only thing insane about it would have been the returns 🤤
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@khaleelkazi ·
$0.02
Hahaha it definitely would’ve payed off 💸

Posted using [Partiko iOS](https://partiko.app/referral/khaleelkazi)
👍  
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vote details (1)
@mindtrap ·
I wonder if it's too late...
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@partiko ·
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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@roger.remix · (edited)
$0.03
#resteemed this great analysis!
Well thought through, well put .. and yes, Steemit Inc. in the echo chamber - sad but true! Same as with the "big" changes. The best Steemit Inc. could do is to incentivise communities and tribes to compete for the most sustainable economic models and help them to thrive. SPS could be a way to achieve this, but maybe it's again _too little too late_. But for sure Steemit remains the best startup aggregator that's existing in this day and age.
Thanks to you, _you_ aaand YOU too!!! 😉👍
👍  ,
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vote details (2)
@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/khaleelkazi__changing-the-basis-of-rewards-on-the-steem-blockchain.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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