How Can Utopian Incentivise Power Ups? Lets Discuss

elear (67) in steem • 7 years ago (edited)

Due to the recent deep of the Steem price I tried to come up with ideas about how Utopian could incentivise Power Ups?

Incentivising Power Ups

Utopian has a great voting power, almost 4 Million SP and it is capable to generate a crazy amount of author rewards.
I believe we should use this opportunity also to incentivise power ups.

@inquiringtimes also came up with the idea there should be a way to incentivise them.

When Utopian started, all the contributions were by default 100% powered up. We allowed 50/50 after many requests from the community.

While we are not looking to get back to force 100% powered up contributions, I do still believe we can do something.

What's your idea?

100% Powered Up Contributions = Bigger Rewards

The first idea that came to my mind was to give a 20% bigger upvote from Utopian for the contributions that are 100% powered up. After discussing with @espoem and @emrebeyler we came to the conclusion this is not gonna be beneficial, especially now that the value of Steem is down, while could be way more beneficial to incentivise powering up liquid Steem and SBD.

Incentivising Power Ups of Liquid STEEM and SBD

It is technically possible to estimate the percentage of powered up Steem compared to the amount of liquid Steem and SBD owned by an account. The Utopian Bot may take in consideration the percentage and give a bigger reward to those accounts that clearly have a bigger portion of Steem Power compared to their liquid Steem and SBD.

What do you think, could this be a way to incentivise Power Ups?

steem powerup utopian-io

7 years ago by elear (67)

$52.82

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emrebeyler (74) · 7 years ago

First thought:

Bot may increase the voting weight by looking at users' recent power-up levels.

By saying power-up I mean:

Registered convert-to-sp operations in their accounts on last N days.

$1.87

9 votes

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firedream (61) · 7 years ago

If this ratio will be checked as percentage ( earned/converted) I would agree.
Direct sp converted value is demotivating for new users.
Utopian and Steem needs new users.
FD.

$0.02

1 vote

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adasq (63) · 7 years ago

I like it. How about extending this:

Compute diff of SP number (of today) comparing to SP number (of N days earlier)
Compare this number with total Utopian payment being paid to the user during this period.

$0.00

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crokkon (68) · 7 years ago (edited)

how about the option to use a share of the beneficiary rewards to power up the users?
The user could chose between the

25% beneficiary share with the "default" utopian upvote or
(25%+X) beneficiary share with a larger upvote, where @utopian.pay powers up the user with the equivalent of X in SP after payout.

edit: a few more thoughts:

looking at the SBD/STEEM balances will lead to the fact that people keep their bankroll on alt accounts. I'm also keeping some SBD right now in the hope that I will get more STEEM/SP out of it in the next couple of days.
looking at the power-up/down history gives an advantage to "wealthy" users because a power-up from a deposit from an exchange can give an edge over users building up their SP from only the steem delegated initial SP

$1.55

6 votes

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raycoms (70) · 7 years ago

The best way for me would be comparing how much of this month posting rewards of the user have been transferred to Steem and powered up.
There is no way to cheat here.

$1.52

3 votes

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raycoms (70) · 7 years ago

A good approach for this might be: How much did the SP of the user grow compared to his Sbd income.
This way buying Steem at an external market would be considered as well.

$0.00

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therealwolf (75) · 7 years ago (edited)

That would be perfect since I'm powering-up all my received SBD from all sources via internal-market / Bittrex STEEM-conversion.

$0.00

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felander (71) · 7 years ago

but what then with the accounts have 50/50 but just send the SBD / liquid steem somewhere else (bittrex, bitshares, other account)

Then you would have given bigger upvotes for people that are not powering up 100% as you would want them and I do not think there is a way for the bot to check for that

$1.34

3 votes

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drencolha (52) · 7 years ago (edited)

This is generally a good idea, although there are some issues surrounding my mind.

The first issue with this system would be estimation process. How would the system estimate If a user is using liquid SBD or STEEM earned from Utopian contrubitions to power up, rather than Its own investment (or liquid assets from other posts rewards). If there will be no distinction between them, I fear that this new system will only benefit high SP users.

And this is a second question mark for me that will lead to another problem. Although this system encourages users to do Power Up, I think that new users would be discouraged to contribute to the Utopian system because of possible low awards.

$1.26

2 votes

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jedigeiss (72) · 7 years ago

hey @elear, i like easy solutions so for me the 100% thing is not ruled out completely, but maybe iam missing informational pieces that you 3 already discussed.
What also would be possible is to bring a ratio into play, the amount of sbd spent to power up against the amount of sbd spent otherwise.
You could calculate that now and set up a few role models to get a feeling.
This also should take into account previous or actual power downs.
kind regards
Jan

$1.17

2 votes

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gold84 (63) · 7 years ago

Hi @elear ! I think there should be a way to make the algorythm see which steem accounts are powering up the most percentage of the earnings in SBD or Steem. If the smart algorithm is able to trace those accounts and give more powerful upvoted from the @utopian-io bot, this will make several people to start powering up much more, to get more rewards.

It could even be a weekly email sent by @utopian-io showing the 100 top accounts that are powering up the most of its rewards in sbd or steem, and their could even be written that number 1 gets certain additional percentage of the @utopian-io bot, then from top 2 to 5 accounts powering up the most, they get a certain additional percentage of upvote, and continue the scale so that many people can setup their goals on were they want to be as far as rewards, and they set their plan to achieve this.

Your thoughts?

Regards, @gold84

$0.92

1 vote

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hrj (52) · 7 years ago

I think no special incentive is required. If the author powers up, they can vote on their own post and thus reap more rewards than by not powering up.

$0.05

1 vote

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mikekenlytungal (58) · 7 years ago

Utopian by heart <3

Thanks for making utopian @elear. Majority of us are nothing without it.

$0.04

1 vote

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ajmaln (55) · 7 years ago (edited)

Absolutely, that is a great way to improve the Steemit as well as Utopian. I support this decision. As you said incentives should be based on the SP - SBD ratio.

$0.04

1 vote

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jrmiller87 (47) · 7 years ago

I'm playing with a few ideas in my head and I might add to this, but if the Utopian bot was able to calculate the % of Steem Power in comparison to the liquid Steem and SBD could be a first step. Maybe taking this percentage as one portion of the vote decision and possibly looking at the Steem Power Delegated to the Utopian bot with some sort of formula to calculate the % of vote from the Utopian bot to the author.

There has to be a way we can all decide would be beneficial to the Steem Block-chain and Utopian contributors.

$0.03

1 vote

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hattaarshavin (74) · 7 years ago

Great post
Thanks you so much

$0.00

1 vote

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cryptoexplorer7 (50) · 7 years ago

i dont think only power up would help.

$0.00

1 vote

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dedicatedguy (74) · 7 years ago

The last option sounds very good! I support that.

$0.00

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michelhenry (52) · 7 years ago

I have always been against automatic vote, if you really build relationships with other users, it implies the reading of their materials and live comments on the subject.

But, I understand that it's hard to find free time for this (every day follow updates of friends and participate in discussions). And auto-vote in a sense is an opportunity to say Hello, to express respect for your relationship. Accordingly, if you withdrew from somebody list you have lost the interest of this person to you. So your actions in this case are absolutely correct.
i like your blog sir thanks for sharing

$0.00

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mysore (55) · 7 years ago

Hey am new to steemit. Is a utopian bot ? How to make it vote? By sending incentives or content based ...

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lifecruiser (57) · 7 years ago

Incentivising power Ups from liquid STEEM & SBD would be the best idea, due to the price of STEEM now and we get lesser SP when the post is 100% power up. This will also encourage people to invest back into Steemit as SP instead of cashing out SBD.

Appreciate your initiative @elear!

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ruah (67) · 7 years ago

We could help steem if we encourage more visibility contributors in our platform doing visibility contribution for steemit. I don't have a exceeding knowledge in steem/sbd but I know adding new members will help the steem price goes up.

$0.00

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katteasis (63) · 7 years ago

Sounds promising. This could really encourage users to power up their earning steem as well, ultimately long-term benefits to the whole steem ecosystem.
A good idea...if this is a poll then my vote will be "Yes".

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andrejcibik (65) · 7 years ago

I fully agree.

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artizm (60) · 7 years ago

I think it would be a good idea.

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arif2k (55) · 7 years ago

Hmmm, nice post @elear I like it!

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bijoy123 (5) · 7 years ago

wownice post

$0.00

2 votes