Steem.DAO is set as 100% beneficiary of this post. It means that all author rewards (if any) will go to @steem.dao account at the payout time. In other words, your votes for this post is an additional support for Steem.DAO a.k.a. Steem Proposal System. Then, Steem.DAO will continuously support projects voted by the community.
But what if you are undecided which of the proposals should get Steem.DAO funding or what if you think that none of them are currently good enough?
Return Proposal
This post is also a description for my upcoming Steem.DAO proposal which is a Return Proposal. The aim of Return Proposal is to prevent proposals with little to no approval from receiving funding. Think of it like:
I think that any proposal, that has less approval than Return Proposal I vote for, shouldn’t receive funding from Steem.DAO.
ELI5 (Explain Like I'm Five)
- Hi, I’m
@steem.dao. In the next hour I’ll have 1000 SBD to fund projects and make Steem even greater again. - Hi, I’m
@alice. My proposalImprove steem documentationis the most voted proposal, send 20 SBD to@alice. - Hi, I’m
@bob. My proposalSteem commercial on CNNis a second most voted proposal, send 300 SBD to@cnn.commercial. - Hi, I’m
@a.hole. My proposalblahis the fourth most voted proposal, send 10000 SBD or what’s left to@a.hole. - Hi, I’m
@gtg. My proposalReturn Proposalis the third most voted proposal, send 1000000 SBD or what’s left back to@steem.dao.
In the next hour @steem.dao sends:
- 20 SBD to
@alice - 300 SBD to
@cnn.commercial - 680 SBD back to self.
HF21 Early days
In the early days, just after the new rules of HardFork 21 are set in place, and before people get used to new features, it is important to keep potential bad actors from receiving funding from Steem.DAO. Please vote for my Return Proposal as soon as you can, and then, when the dust settles, do your own research and adjust your proposal votes accordingly.
Steem Proposal System release notes (source: GitHub)
The Steem Proposal System (SPS) is an on chain Decentralized Autonomous Organization (DAO) that allows users to submit proposals for funding and vote on which proposals should be funded. The SPS is funded by means of inflation and donations. SBD (and only SBD) can be sent to the account @steem.dao. Additionally anyone can make donations by setting the account as a comment reward beneficiary.
Warning: There is no mechanism for refund from the @steem.dao. Non SBD transfers will be rejected, but any SBD donated cannot be refunded.
The inflation budget has been changed to fund the SPS. The content rewards are being reduced from 75% of the budget to 65% to give 10% of the inflation budget to the SPS. The actual inflation schedule has not changed at all. The inflation schedule continues as planned. As of block 34 million, inflation was at 8.42% and will continue to narrow 0.01% every 250k blocks until it reaches a rate of 0.95%
One one-hundredth of the balance of the @steem.dao account will be paid out every day in one hour intervals in order of approval. It is strongly recommended that the community creates and maintains refund proposal(s) to prevent proposals with little to no approval from receiving funding.
There are three new operations for interacting with the SPS.
struct create_proposal_operation : public base_operation
{
account_name_type creator;
account_name_type receiver;
time_point_sec start_date;
time_point_sec end_date;
asset daily_pay;
string subject;
string permlink;
};
``` struct update_proposal_votes_operation : public base_operation { account_name_type voter;
flat_set_ex< int64_t > proposal_ids;
bool approve = false; };
<br>
struct remove_proposal_operation : public base_operation { account_name_type proposal_owner;
flat_set_ex< int64_t > proposal_ids; };
When a proposal is created, a post must be specified that is linked to the proposal. It will be `@creator/permlink`. All proposal creators should use that post to keep their proposal up to date so that stake-holders can easily review and approve the proposal. There is a 10 SBD fee that must be paid in order to create a proposal. The fee is paid in to the SPS. A proposal can, at most, receive `daily_pay` per day, but if the proposal is not paid for a round either from losing approval votes or the budget not being able to cover the proposals costs, the lost pay will not be made up. Proposals are not owed anything by the blockchain until they are actually paid.
Proposal IDs are generated by the blockchain and are a global unique identifier of the proposal. The ID is returned with the proposal on all SPS API calls. Because the proposal ID is generated by the blockchain, it is strongly encouraged to use the transaction status API to wait for the transaction creating the proposal to become irreversible before approving it or else the proposal ID may change and the approval will be for the wrong proposal.
The following API calls have been added to support accessing proposal information. `database_api.list_proposals`, `database_api.find_proposals`, `database_api.list_proposal_votes`.
---
<sup>
If you believe I can be of value to Steem, please vote for me ([**gtg**](/@gtg)) as a witness on [Steemit's Witnesses List](https://steemitwallet.com/~witnesses) or set ([**gtg**](/@gtg)) as a proxy that will vote for witnesses for you.
***Your vote does matter!***
You can contact me directly on [steem.chat](https://steem.chat), as [Gandalf](https://steem.chat/direct/gandalf)
</sup>
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[Steem On](/)
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