Steem Basic Income
Steem Basic Income is a voluntary social experiment to bring a crowdfunded basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.
When we talk about Steem Basic Income, what do we talk about?
In the early days of Steem Basic Income, more than a year ago, we used to share our word cloud sometimes. The last time we shared our updated word cloud was one week ago.
'SP' and 'mvests'
Steem Basic Income is a stake-based service. When you sponsor others, your build their stake and your own, and then you receive regular upvote support based on that stake (or based on your delegated stake or stake-powered upvotes).
Staying stake-based keeps us sustainable.
'Contest' and 'Prizes'
Not everyone has the means to subscribe to a lot of support from our stake-based system, but our 'sponsor to enroll' requirement has provided great incentives!! People integrate SBI into both new and existing contests, use it to power growth in new programs, and to support other Steemians that need a little extra help.
Member Heroes
My favorite word in our word cloud is 'member'! The SBI member is the real hero. We built a framework that allows you to help yourself by helping others, and you have responded en masse. Over 96% of the accounts that we have upvoted in the last month were sponsored for support by another account at least once, and over 42% have sponsored somebody for support at least once.
Give yourself a pat on the back and then thank another SBI member today!
Sustainability Coverage and VP Management
Sustainability Coverage is currently at 71.32% and rshares reward rate is 563,458,230 per SBI unit per day. We had a steady series of conversions that was keeping the ratio above 100%, but the tonsure has caused those to go negative even though SBD is way below $1. We hope these will improve soon and bring our sustainability multiplier back up.
The rshares reward rate for bonus units (delegation reward) is not decreased, and you can help increase the sustainability coverage (and thus the rshares reward rate on regular units) by delegating to @steembasicincome. For more information, please read Into the Heart of Sustainability.
Enrollment
If you want to get involved, or to increase the basic income that you receive, enrollment is pretty straightforward:
Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 unit in the program. You can sponsor any active Steemian, it does not have to be a current member.
If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions. https://steemit.com/busy/@steembasicincome/transaction-memo-guidelines
The official currency for enrollment is STEEM. If we choose to accept SBD without refunding it, you do not receive extra value for it. Enrollments are processed automatically every 144 minutes.
Questions about Steem Basic Income?
Most questions are addressed in our FAQ or in these helpful resources. If you still have questions, ask in the comments section or join us in our discord channel.
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