Contribution Rewards:
- Curation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
- Content Creation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
- #Block production rewards: 1 STEEM per block or 0.750% per year, whichever is greater
- Proof of Work inclusion rewards before block 864,000: 1 STEEM per block (awarded as 21 STEEM per round)
- Proof of Work inclusion rewards after block 864,000: 0.0476 STEEM per block (awarded as 1 STEEM per round) or 0.750% per year, whichever is greater.
- Liquidity rewards: 1 STEEM per block (awarded as 1200 STEEM per hour) or 0.750% per year, whichever is greater
Power Rewards:
- Steem Power rewards: For each STEEM created by the above rewards, 9 STEEM are divided among all Steem Power holders.
Steem Dollar (SMD) operations:
- SMD rewards: A percentage of SMD value is created at an APR set by the witnesses and paid to SMD holders as SMD
- Feed Rate following: The amount of STEEM for which the total SMD in existence can be redeemed will change based on changes in the price feed. This change is effectively destruction ("burning") of STEEM when the value of STEEM (as measured by the feed) is increasing, or creation of STEEM when the value of STEEM (as measured by the feed) is declining.
Reference : Steem White Paper
Nice layout for the community. Thanks
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welcome @bjones
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So that's 60 STEEM per block, and blocks happen every 3 seconds, so thats 72,000 STEEM created per hour. At current exchange rates thats over 5 MILLION dollars per day! That's totally crazy and unsustainable. Since production of STEEM can't change, the exchange rate will. PEOPLE WILL LOSE A LOT OF MONEY WHEN THE PRICE CORRECTS
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The Steem network starts with a currency supply of 0 and allocates STEEM via proof of
work at a rate of approximately 40 STEEM per minute to miners, with an additional 40
STEEM per minute being created to seed the content and curation reward pools (for a total
of 80 STEEM per minute). Then the network starts rewarding users who convert to SP. At
this point, STEEM grows at a rate of approximately 800 STEEM per minute due to the
combined effects of the various Contribution Rewards.
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WHOA
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i just read this on steem white paper.
i just lay it out here so that new comer can aware of reward system:-)
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Good summary, concise. Thank you!
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Thank you @johnsmith
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could you explain this more?
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