Rewarding Delegations with Increased Rshares!

Welcome to the next installment of Into the Heart of Sustainability! This week we will be looking into another important way to support the Steem Basic Income program, delegation. We are one of the largest leasers of SP on the platform, currently consuming 14.5% of the total SP delegated through the MB market. Therefore any delegation that comes directly from members is a great help to the program, and we want to reward it as such!

_{Graphic design by @ecoinstante}

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Do You Know what Steem Basic Income is?

Steem Basic Income is a social experiment to bring a 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.

Check out our Frequently Asked Questions!

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Rshares Accumulation

Currently we are awarding bonus units to delegators at a rate of 1 bonus unit for every 2SP delegated. Bonus units currently accumulate rshares balance at 800M per day per unit, and 2SP can currently vote approximately 801M rshares per day.

We use 800M per day as the base for all our reward rates because 800M per day is the approximate votable value of 2 SP. One important thing to note here is that as SP value of MVests is gradually inflated at the protocol level, the votable rshares of 2 SP will drop below 800M rshares per day, and we will need to adjust accordingly.

Let’s take a moment to mention the difference in calculation between member shares and bonus shares. Currently member units accumulate at a rate of 800M rshares per day multiplied by our sustainability coverage ratio whenever it falls below 100%. This is to reflect the cost of leasing SP to cover these units. If lease costs go up, our sustainability coverage goes down, and we lower the rshares accumulation of those units by precisely the right amount to keep us sustainable.

Bonus units from delegation don’t work in the same way. Having members delegating to the program is more sustainable than leasing the same delegation. Since we set the terms for our member delegations, we do not have to worry about negotiating with fluctuating lease prices. So far we have kept their rshares accumulation at 800M rshares per day, because the delegated SP is enough to cover this (and a tiny bit more).

High curation bonus to delegators!

It is our intention with this series not only to explore the math with you, but also to actively search for areas that can be improved, adjusted and enhanced.

By supporting our members who continue to produce valuable content, we earn above average curation rewards. This gives us space for substantial improvement in our delegation rewards - by returning our curation profits to the member delegators that make them possible. We are increasing the rshares reward rate of bonus units to 800M or (0.75 + curation value) * 800M per day, whichever is greater! With our current curation return level of 35%, we can now offer (1.1 * 800M) or 880M rshares per day for bonus units!

This shares our outsized curation rewards with our delegators, hopefully encouraging more delegation and increased sustainability for our program!

If you wish to support this program and help us to become more sustainable, consider delegating to @steembasicincome.

Writer Bio

This Sustainability report was prepared for us by @ecoinstant.

From a young age, @ecoinstant continues to be very interested in the mechanisms of sustainability, and loves being a part of several teams working on promising projects, including the marvelous Steem Basic Income!

Sustainability Coverage and VP Management

Sustainability Coverage is currently at 88.37% and rshares reward rate is 706,984,910 per SBI unit per day. This is another improvement from yesterday and we will see even more improvement soon as the last of our Conversion losses drop out of the seven-day calculation period.

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.

Upvoting Reward multipliers are currently at 1.10x on regular updates and on secondary accounts and comments, until our voting power (VP) recovers to 80%.

Questions?

Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.

You can look up your current membership levels by using !sbi status in a comment or post, or by using our newly modified member lookup tool.