3Speak Videos Funding STEEM DAO!

threespeak (69) in threespeak • 5 years ago

In one of the previous updates we mentioned about burning 3% rewards from every video uploaded on 3Speak by setting 3% beneficiary as @null. A few days back this was changed to 1.5 % @steem.dao and 1.5% @null.

We are now setting @steem.dao as 3% beneficiary. This change is in production and hopefully it will help fund great proposals with enough votes from the community.

STEEM as a blockchain will grow if we create many successful businesses and support them during their initial days. Each business can empower one or more communities to thrive and increase overall activity on the platform.

Discord

https://discord.me/3speak

https://t.me/threespeak

Rate Us Here

Dapp.com - https://www.dapp.com/dapp/3speak
State of the Dapps - https://www.dapp.com/dapp/3speak

Follow Us On Twitter

https://twitter.com/3speakonline

threespeak steemdao update beneficiary palnet neoxian marlians donation

5 years ago by threespeak (69)

$48.52

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!

Sort Order:

Trending

[-]

irisworld (64) · 5 years ago

Great! I believe 3speak has a very good future!

$0.04

6 votes

[-]

toufiq777 (77) · 5 years ago

$0.00

Reveal Comment

[-]

fsm-liquid (48) · 5 years ago

I mean this is nice and all but rewards sent to @steem.dao are printing more SBD. Not sure if this is a good idea as the peg is broken right now and rewards on @threespeak videos are pretty huge. In my opinion beneficiary to @sbdpotato makes more sense right now. Just a thought.

$0.03

5 votes

[-]

drutter (69) · 5 years ago

And this was done, with our funds, without our consent, starting a couple weeks ago. Not cool.

$0.00

2 votes

[-]

dalz (68) · 5 years ago (edited)

This is something to think about!
Higher SBD price is helping steem.dao as well.

$0.00

[-]

smooth (70) · 5 years ago

Personally I support @sbdpotato but I would be reluctant to load a lot more rewards on there until there is clarity about what will happen to the fund if and when the SBD peg is restored.

As far as printing SBD to the DAO it isn't ideal necessarily ideal and does affect the blockchain SBD haircut rule, but unless those SBD are actually paid out, or appear likely to be, at least it doesn't affect the market price. Stakeholders can vote to limit SBD payouts from the DAO below the maximum (as has been the case), to burn them, or even to fund something like @sbdpotato (which I would be more likely to support as a DAO vote if the disposition of the @sbdpotato fund were clarified), or @burnpost (which helps address overvalued SBD in a manner similar to @sbdpotato's effort to help with undervalued SBD).

$0.00

[-]

fsm-liquid (48) · 5 years ago

More existing SBD means each of them backed by less STEEM. Even if the SBD isn't being paid out they still affect market price. Reducing SBD supply is why @sbdpotato is a thing in the first place and this is counterproductive to that, now along with countering SBD printing from inflation @sbdpotato also needs to counter SBD printing from @threespeak videos.
If not set to @sbdpotato, the video rewards beneficiary is better off sent to @null in my opinion.

Proposal to directly burn SBD from @steem.dao is great way to reduce SBD supply but if it's funded it will interfere with other funded proposal (if my understanding on how the DAO work is correct). Getting it funded in the first place is also very unlikely.

$0.00

[-]

smooth (70) · 5 years ago (edited)

More existing SBD means each of them backed by less STEEM. Even if the SBD isn't being paid out they still affect market price.

That is a good point, although the magnitude is unclear. I would say that SBD which is paid out and circulates has a much greater impact, but I can't quantify this or prove it. In any case, the numbers are currently very small. See below.

Proposal to directly burn SBD from @steem.dao is great way to reduce SBD supply but if it's funded it will interfere with other funded proposal (if my understanding on how the DAO work is correct).

Only to the extent that:

It is voted higher than other approved proposals, and
The total approved proposals plus the burn rate is higher than the maximum payout rate.

Currently the maximum DAO payout rate is about 1700 SBD per day and active payouts is only 230 SBD per day. So clearly there is ample opportunity to reduce the size of the DAO fund with burn without affecting other payouts, if desired.

Currently the DAO fund is about 170K SBD out of 7.3M SBD total, so the DAO is really negligible when it comes to the backing ratio. In the future that might not be true, in which case I would expect increased interest in some DAO fund burns, or funding things like @sbdpotato from the DAO.

$0.00

[-]

fsm-liquid (48) · 5 years ago

I agree with everything you said here.
Ultimately the decision is in the hands of @threespeak. Hopefully this comment chain will give them some grounds for considerations.

$0.05

1 vote

[-]

smooth (70) · 5 years ago (edited)

Looks like Dan is sending some of his beneficiaries to @sbdpotato as well: https://steemit.com/promo-steem/@theycallmedan/proof-of-purchase

So that may help offset the SBD supply increase (especially since @sbdpotato uses the rewards to reduce SBD supply repeatedly, while a beneficiary directly to the DAO only increases SBD supply once).

$0.00

[-]

drutter (69) · 5 years ago

What is "SteemDAO"?
What if content-creators don't want to contribute to that project, and aren't happy you did so with their funds without notice?
You guys really aren't batting 1000 or even 100 lately.
Bitchute wins. I was rooting for ya though.

$0.03

4 votes

[-]

smooth (70) · 5 years ago (edited)

Steem DAO is a the built-in system within Steem to fund proposals. Any beneficiaries or transfers to @steem.dao add to the available budget for such proposals.

https://steemitwallet.com/proposals

$0.00

[-]

steemitboard (66) · 5 years ago

Congratulations @threespeak! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You distributed more than 12000 upvotes. Your next target is to reach 13000 upvotes.

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

To support your work, I also upvoted your post!

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

$0.00

[-]

chireerocks (72) · 5 years ago

@threespeak, This step is appreciable team and hope that these Funds will going to support Community Development Initiatives and Services.

Have a wonderful time ahead team and stay blessed.

Posted using Partiko Android