Our first budget proposal earned 366 Steem today while investors made 62% APR during the first 36 hours since we started at https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals which is an amazing testimonial to our ability to work together!
Congratulations to https://steemit.com/budget/@steempunknet/steempunk-net-mmorpg-on-the-steem-blockchain-already-in-open-beta-testing-attracting-players-from-outside-steem by @steempunknet for being the first project to receive funding!
We funded this project first because months of work have already produced the first functional MMORPG on the Steem blockchain and a functional website plus discord channel as explained at https://steemit.com/budget/@steempunknet/steempunk-net-mmorpg-on-the-steem-blockchain-already-in-open-beta-testing-attracting-players-from-outside-steem.
The first payment was sent for 366.896 Steem today while the rest of the 1,500 in Steem requested will be paid over the next week or two as more bids come into the jerrybanfield voting bot. Meanwhile, additional proposals at https://steemit.com/trending/budget will begin receiving payments this week.
To have the highest odds of success, will we submit proposals that either have already been started or that very clearly explain what will be done because this will ensure we get the highest return on our investment? I will submit a proposal within the next day or two as an example.
Delegators Earning 62.58% APR!
Thank you very much to @freedom for delegating 97522.957 Steem power along with @drorion, @tomasgeorge, @jasonclay, @gmichelbkk, @dehenne, @joeparys, and @stimp1024! We are very grateful to already have 137,524 Steem power delegated because this greatly increases the amount of upvotes available and therefore the amount of funding for both projects and investors!
The payout was equal to 0.00257 Steem per Steem delegated meaning every 1,000 Steem Power delegated earned approximately 2.57 Steem in the first 36 hours! Dividing by 1.5 brings us to 24 hours and multiplying by 365.25 brings us to an expected return of about 62.58% yearly at initial day and a half's earnings rate meaning a year's worth of 1,000,000 Steem power delegated to jerrybanfield with no changes would produce about 625,795 Steem back to the delegator in 365.25 days.
Part of the reason these payouts are so high is because my Steem power is not counted in the total and because the SBD is currently buying 5 Steem. Ongoing returns will depend on the price of Steem, SBD, the amount of witness rewards, and amount of curation rewards adding up relative to total delegations.
How Does This Work?
We are now running a voting bot on the @jerrybanfield account where anyone can send SBD and soon Steem to place a request for an upvote. Every 2.4 hours @jerrybanfield places votes at a power relative to the size of the bid. Half of what is received goes to @budgets to pay budget proposals while the other half goes to @jerrybanfieldroi to pay the delegators empowering us to earn higher bids. Track the profitability of the bot and previous voting rounds/bids at https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html
To make a budget proposal, tag a post with budgets as the first tag. In the post, make a request for funding in STEEM included with a detailed explanation of what that funding is needed for, what has been so far, who is contributing, how the results may look, why this will add value to the Steem blockchain, and when the work will be done.
The easy way to make a delegation is to use a link from steemconnect which I am happy to make for any of us! If you would like to delegate and would appreciate just clicking a link and signing in with the active key to complete the transaction, would you please ask me to make a link for you in this post and include how much Steem power you want to delegate because then I will reply with an exact link to click?
We are very grateful for this opportunity to collaborate in funding projects that grow the Steem blockchain and hope you have a wonderful day!