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New Beneficiary Features on Steemit.com by steemitblog

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beneficiaries · @steemitblog · (edited)
New Beneficiary Features on Steemit.com
![beneficiaries on steemit.jpg](https://cdn.steemitimages.com/DQma8xSDr73krthyNqHsvg4SpoiesfayX5erein9WbG7Buv/beneficiaries%20on%20steemit.jpg)

While our blockchain team has been hard at work on SMTs ([the end is in sight!](https://steemit.com/smt/@steemitblog/smt-burnup-end-in-sight)) and our applications team has been making rapid progress on Hive Communities, we’ve still been getting amazing contributions to Condenser (the open source software that powers steemit.com) from community developers. 

<h1>Reward Splitting</h1>

Today we want to tell you about two such contributions relating to beneficiaries (a/k/a “reward splitting”). Beneficiaries is one of the many undervalued features of the Steem blockchain that many Steem applications are reliant on for funding. This feature enables users to direct a portion of their STEEM rewards to other Steem accounts. Applications can use this to generate revenue without charging fees, and content creators can use this feature to split rewards with collaborators.

<h3>Set Beneficiaries</h3>

Thanks to pull requests submitted by @blockchainstudio and @eonwarped, it is now easier than ever to take advantage of this feature directly through steemit.com. @eonwarped submitted a PR that enables steemit.com users to [set beneficiary accounts and the percentage of their rewards they want to direct toward those accounts](https://github.com/steemit/condenser/pull/3517). You can set as many as 8  beneficiaries through the UI. 

To set beneficiaries on a post, select "Advanced settings" when you are creating your post.

![Screen Shot 2019-09-18 at 4.08.29 PM.png](https://cdn.steemitimages.com/DQmNUZFFojthQmHdBoLuLYF27bMQ7i8xqemztxd1Xq4Hf9a/Screen%20Shot%202019-09-18%20at%204.08.29%20PM.png)

https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVz3fZPhMea8hDgusoEMngcpZsD6xBvTwZMZ8R31yTMxW/steemit-beneficiaries-20190918.JPG

<h3>View Beneficiaries</h3>

@blockchainstudio submitted a PR that enables steemit.com users to [view the beneficiaries information that was set on any particular post below the payout information](https://github.com/steemit/condenser/pull/3520)

<h1>Steem.DAO Funding</h1>

Beneficiaries can be used for two other important purposes; funding the Steem.DAO and reducing the token supply. Because the Steem.DAO is technically just an account on Steem, by setting @steem.dao as a beneficiary on your post, you can send a percentage of the rewards you earn on a post directly to the Steem.DAO to help fund great proposals. Rewards sent to that account via beneficiaries will automatically be converted to SBD.

<h1>Burning STEEM</h1>

If you wish to simply “burn” a percentage of your rewards, thereby lowering the total amount of STEEM in existence, you can simply set @null as a beneficiary. @null is a special account on Steem that no one owns or controls. Any funds sent to @null are removed from the token supply. 

<h1>Steem Feature of the Week: 
*Human-Readable Account Names*</h1>

These features also highlight one of the other undervalued features of Steem which are human-readable account names. On other blockchains utilizing these features would require using wallet addresses which are just random strings of letters and numbers. 

Human-readable accounts makes it easy for ordinary users to interact with blockchain accounts by making it easy to remember and input addresses. This is only one of many unique features of Steem that are critical to making blockchain technology accessible to everyone and onboarding the masses. 

This feature is now live in production, so don’t forget to set some beneficiaries on your next post!

_The Steemit Team_
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 140 others
👎  , ,
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vote details (207)
@aabb · 
Steem to the moon
👍  
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vote details (1)
@adedapo-glory · 
This is really a great news to hear about i must say
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@alokkumar121 · 
This is nice improvement in steemit platform
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@bahagia-arbi · 
This is a good move of SteemIt. Love it. Go Steem!
Regards from Indonesia.
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@blockchainstudio ·
$18.04
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vote details (32)
@likwid · (edited)
$0.03
Upvote goes above👆
👍  
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vote details (1)
@blockchainstudio · 
Thanks!
👍  
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vote details (1)
@drutter · 
Oh, you DO use the comment section of this blockchain!
Now that I've got you, please stop taking my money. I don't want liquid STEEM, I want it powered up. And I want all of it. Thanks!
👍  ,
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vote details (2)
@clumsysilverdad · 
haha, and when can I apply for medical insurance too ??  (-:
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@cryptoxicate · 
Hi would it be possible to setup a permanent beneficiary without doing it on every post?
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@dana-edwards · 
> Beneficiaries can be used for two other important purposes; funding the Steem.DAO and reducing the token supply. Because the Steem.DAO is technically just an account on Steem, by setting @steem.dao as a beneficiary on your post, you can send a percentage of the rewards you earn on a post directly to the Steem.DAO to help fund great proposals.

Not a bad idea for people who want to fund the proposals. We need to encourage more ways to reduce the circulating supply of Steem though.
👍  
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vote details (1)
@drutter ·
$0.05
<i>"If you wish to simply “burn” a percentage of your rewards, thereby lowering the total amount of STEEM in existence, you can simply set @null as a beneficiary. @null is a special account on Steem that no one owns or controls. Any funds sent to @null are removed from the token supply."</i>

If Steemit did that with their massive stake, instead of selling it onto the market, STEEM prices would finally recover. "Onboarding the masses" would actually be possible once we had a stable currency again. Instead, sounds like they are encouraging everyone else to do so, but they could (and should) be the ones burning up their stake to save the platform.
👍  , , , , , , , ,
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vote details (9)
@jondoe ·
$0.03
It certainly doesn't help us onboard new users and encourage them to power up when the currency just goes down and down and down, though to be fair not all of that is due to the Steemit,Inc dumping, but it is a big part.

As we saw in 2017 and 2018, the easiest way to onboard new users is a soaring steem (or SBD) price. Our goal should be to base most of our decisions around making that happen and the rest takes care of itself.
👍  , ,
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vote details (3)
@novacadian · 
>... there will never be enough STEEM for many accounts. in 15 years from now and based on the current code which could change, there will only be double the STEEM in the supply and, there will only be around 6 million more added each year through inflation. That is not enough for a hundred million accounts as each account could only have a max of 6 STEEM.

Source : https://steemit.com/steem/@tarazkp/social-steem-capital-and-transactions-of-relationship
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@ejiziano · 
I think this is a welcome development ... Authors can now earn more, and decide to share little to curators ..... Well done steemit team
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@eonwarped ·
$33.13
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vote details (34)
@jarvie · (edited)
$0.09
Would have been a good opportunity to accept rewards and make blockchainstudio, you, null and steem.dao as beneficiaries eh?

But these votes for your comment are also good
👍  , , , ,
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vote details (5)
@andrarchy · 
Ah great idea, next time!
👍  
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vote details (1)
@blockchainstudio · 
great idea :)
👍  
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vote details (1)
@eonwarped · 
I was definitely thinking this in the back of my head hehe.
👍  , ,
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vote details (3)
@exhaust · (edited)
Is it just something weird happening for me, or is this comment appearing on the trending page for everyone?

![image.png](https://files.steempeak.com/file/steempeak/exhaust/DOmPTeML-image.png)

***

Has SteemPeak always done this, and comments just haven't been voted up so high before?

Or is this new?

EDIT:

Looks like Steemit.com does this too, so I'm assuming it has always been like this.
👍  
properties (23)
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vote details (1)
@richman · 
flagged for vote farming

@steemflagrewards
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@markkujantunen · 
They are rewarding him for the coding effort he has put in.
properties (22)
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@filotasriza3 · 
actually that's pretty damn good idea both for burning steem and thus keeping a balance and for the funding purposes. To tell you the truth i am more excited about the dao account that if used correctly will uplift the platform for good as many awesome ideas will get some starting funding. 

*Does that also include let's say marketing-ad like proposals in order for steem/steemit to reach bigger audiences?*
properties (22)
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@justinw · 
> Does that also include let's say marketing-ad like proposals in order for steem/steemit to reach bigger audiences?

Yes! The proposals system can be used for anything, it does not need to be software development.
👍  
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vote details (1)
@mindtrap · 
Really? I made a post the other day proposing "flooding" the internet with Steem ads or even commercials between radio shows etc. I have no idea how to create a proposal though, let alone that I am not much a "tech" guy. I wonder who should I contact with in order to discuss it. A specific witness maybe? A dev?

I would appreciate a reply and thanks in advance.
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@ganjafarmer · 
Damnnn.... Fuck yeah I'm gonnA try it!
properties (22)
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@imransoory · 
Where is @nerd ? :P
properties (22)
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@jakub1234 · 
minus for minus...
properties (22)
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@knircky ·
$0.59
It would really help if steemit would use reward splitting for their website. This would allow other UI's to compete and get a revenue stream.
👍  , ,
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vote details (3)
@ackza · (edited)
hahah we do! thats what this is! beneficiary rewards!!! wait u have a 71 rep like me u must know this, what are you actualy talking aboiut i must be confused
properties (22)
authorackza
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@chrisrice · 
They could always do that and make the beneficiary @null @knircky.
properties (22)
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@littleboy · 
SMT in sight. Meanwhile:

![](https://cdn.steemitimages.com/DQmVfBttsozqMJn8M8XDGJ1ERrQaW99DMH1yTY41w3xp7cF/image.png)
properties (22)
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@mahdiyari · 
Isn't it the time to give a chance to this poor button?
![](https://cdn.steemitimages.com/DQmdjwsZGtgyP5uBi3j7V2vsBBEQXWbKJwSdU2LuMQ4651q/image.png)
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@mcoinz79 · 
Awesome! Great improvement! #newsteem rocks!
properties (22)
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@pennsif ·
$0.08
It might be worth adding a note to this post that you need to go to Advanced Settings  under the rewards to open up the box for setting the beneficiaries...

![steemit-beneficiaries-20190918.JPG](https://cdn.steemitimages.com/DQmVz3fZPhMea8hDgusoEMngcpZsD6xBvTwZMZ8R31yTMxW/steemit-beneficiaries-20190918.JPG)
👍  , , , , ,
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vote details (6)
@andrarchy · 
Great point, thanks!
properties (22)
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@phusionphil · 
www.steempeak.com is way better in regards to adding beneficiaries than any of the other sites like Steemit dot com.

Posted using [Partiko Android](https://partiko.app/referral/phusionphil)
properties (22)
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@por500bolos · 
Pft!! ***¡Wadda malarkey!***

*Finally* activating the "Reward Splitting & Set Beneficiaries" feature on steemit.com UI basically promoting and pushing that this shoulda be used to **set** @steem.dao and @null as beneficiaries in order to help fund great proposals & lowering the total amount of STEEM in existence with the 'hopes' that "in that way" the value of Steem rise in the markets.

¿Is this perhaps because it wasn't enough or it isn't enough for the same purposes if one just adjust: **"Power Up 100%"** each and every one of our posts?

¿Would 'they' have been so diligent to develop & activate this feature in steemit.com  to otherwise benefit only the community in an exclusively peer to peer fashion?

Yeah! think about it. I'm just saying!!
properties (22)
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@pushpedal · 
Great update team. I've never used beneficiary feature before but it's seems handy. I've used many Steem dapp which of course takes a share without me knowing haha!

Posted using [Partiko Android](https://partiko.app/referral/pushpedal)
properties (22)
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@rishi556 · 
I'm liking these additions from the community. Really useful.
properties (22)
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@rival · 
Awesome..

Posted using [Partiko iOS](https://partiko.app/referral/rival)
properties (22)
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@riverflows · 
Go @eonwarped!!! Nice to see concrete progress.
properties (22)
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@soyrosa · 
Is setting beneficiaries to @null an idea for @steemitblog? I guess more people would upvote the post and we can see some of them on trending - especially under #NewSteem.
properties (22)
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@ssjsasha ·
$0.22
Love to see this project grow step by step, keep it up errrryone
👍  ,
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vote details (2)
@ackza · 
ive seen you grow step by step man good work keep it up
properties (22)
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@stackin · 
This is a good tool, STEEMIANS now can support there fav content creators some more 😎

Posted using [Partiko iOS](https://partiko.app/referral/stackin)
properties (22)
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@stealthtrader ·
$0.14
See all these blockchains are coming out with names for wallets, and they act like it is some **new** feature, but Steemit has been doing this since 2016!

Like they say.. The crypto projects that will grow into the future will be the ones that even Grandma can use like _human-readable_ account names!
👍  ,
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vote details (2)
@andrarchy · 
100%
👍  
properties (23)
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vote details (1)
@clumsysilverdad · 
I love gram-mama (-:
👍  
properties (23)
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vote details (1)
@stealthtrader ·
$0.04
Me too!! It’s actually mines birthday today. Happy birthday granny Barbara!!

Posted using [Partiko iOS](https://partiko.app/referral/stealthtrader)
👍  ,
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vote details (2)
@onthewayout · 
To be fair, Bitshares was the first blockchain to do it. Although it's no surprise since both projects had the same lead developer at the start.
👍  
properties (23)
authoronthewayout
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vote details (1)
@sumit1998 · 
That’s an great development. My interest is backing in steem again.
properties (22)
authorsumit1998
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@theguruasia ·
$0.02
@steemitblog,
Honestly this is a good news! Thanks for this development!
$trdo

Cheers~
👍  , ,
properties (23)
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vote details (3)
@trendotoken · 
Congratulations @theguruasia, you are successfuly trended the post that shared by @steemitblog!
@steemitblog got 6 [TRDO](https://steem-engine.com/?p=history&t=TRDO) & @theguruasia got 4 [TRDO](https://steem-engine.com/?p=history&t=TRDO)! 

<b>"Call [TRDO](https://steem-engine.com/?p=history&t=TRDO), Your Comment Worth Something!"</b>
---
<sup>To view or trade TRDO go to [steem-engine.com](https://steem-engine.com/?p=market&t=TRDO)
Join [TRDO Discord Channel](https://discord.gg/wySP8T9) or Join [TRDO Web Site](http://www.trendotoken.info/)</sup>
properties (22)
authortrendotoken
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@trafficinsider · 
What a great idea and an easy way to help others get started and understand the rewards program.
properties (22)
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@transisto · (edited)
You can also skip the 3 month power down by setting `@likwid` as a beneficiary and receive your reward in liquid STEEM instead of SP. (for a fee)
![](https://cdn.steemitimages.com/DQmVz6sdjZ87mCGWL97YuokogEpSYBawbWAxy1F1o8VyJ4U/image.png)
## [More details.](https://steemit.com/steem/@likwid/announcing-likwid-the-reward-liquifier)
👍  ,
👎  
properties (23)
authortransisto
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vote details (3)
@concorde ·
$0.01
This is pretty good, but why would you skip the 3 months power down though?
👍  
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vote details (1)
@masterthematrix · 
Nice, to have that option!

Posted using [Partiko Android](https://partiko.app/referral/masterthematrix)
properties (22)
authormasterthematrix
permlinkmasterthematrix-re-transisto-py1smq-20190918t224359859z
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@transisto · 
You can also skip the 3 month power down by setting `@likwid` as a beneficiary and receive your reward in liquid STEEM instead of SP. (for a fee)
![](https://cdn.steemitimages.com/DQmVz6sdjZ87mCGWL97YuokogEpSYBawbWAxy1F1o8VyJ4U/image.png)
## [More details.](https://steemit.com/steem/@likwid/announcing-likwid-the-reward-liquifier)
👍  
👎  
properties (23)
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permlinkpy60v4
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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/steemitblog__new-beneficiary-features-on-steemit-com.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
properties (22)
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@whack.science · 
Cool

Posted using [Partiko Android](https://partiko.app/referral/whack.science)
properties (22)
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@yumyumseth · 
@steempeak have you thought of trying this out!?!?! ;)
properties (22)
authoryumyumseth
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@jarvie · 
Haha cute...
Yeah we thought about it... last year ;)
👍  
properties (23)
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vote details (1)
@yumyumseth · 
Just a little ahead of the times haha
properties (22)
authoryumyumseth
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