We are live!
With the help @eonwarped from Steem Engine, we have been able to get the Proof of Stake (POS) enabled within Creative Coin. Three weeks ago we had announced that POS rewards were coming to the tribe, and ever since then, we have been working with Steem Engine to make it happen.
I just want to thanks @eonwarped for the time he has put in helping to make this happen for our tribe and the changes that have shown up in the wallets across the other tribes as well. You may notice that your wallet now displays where the curation rewards are coming from. Eon has been hard at work doing his wizardry for the SE team and the tribe wallets are coming along nicely.
What are Proof of Stake rewards?
POS rewards are sort of like mining rewards, but they are tied to your stake that you have in CCC. The more stake that you have, the more of a daily reward you get.
Unlike the traditional miners that we and many other tribes have where you just earn a portion of the allocated daily mining reward pool based on how many miners you have purchased, POS works off of your staked CCC. So the more you interact within the Creative Coin tribe through posting, curating, or purchasing and staking CCC, the more POS rewards you will receive, which increase your stake in CCC and in turn increase your daily POS rewards.
Make your investment work for you
This is basically what it boils down to. The CCC you have been earning now has the added value of earning more for you.
I have taken the following from the official announcement post explaining where the rewards are coming from:
We are going to be lowering the Proof of Brain (POB) rewards by 5%, making POB 70% of the reward pool. We will also be lowering the Management Team percentage by 5% as well. This will allow for POS to generate 10% of the rewards from the pool.
Proof of Brain: 70%
Proof of Stake: 10%
Management Team: 5%
We understand that the two accounts, @creativecoin and @notcreative, will be generating POS rewards each day as well. The POS rewards of both of those accounts will be sent to @null and BURNED each week to prevent those accounts from growing larger due to the POS rewards.
We have eliminated the monthly drops to the Management Team when we reduced the rewards by 5%, but in turn the remaining 5% of the Management Team resources are being used to fund community projects that Creative Coin takes part in. Right now Creative Coin has partnered with @ocd for the #inktober contest and have offered up 20,000 CCC and we plan on continuing the partnership with @ocd for the future and supporting the community with CCC rewards as they participate in those contests.
Thank you for all of the awesome support and participation for the Creative Coin tribe. Join us in the Creative Coin Discord if you have any questions. We look forward to hearing from you!