With fundition.io we now have a crowdfunding platform on Steem that is a lot of fun to use based on my first time funding projects on it tonight! In just a few minutes I logged in for the first time and sent about $200 USD in donations to projects listed on https://fundition.io/#!/@jerrybanfield.
I loved the entire process from reviewing the proposals, discovering the creators on Steem, and sending the SBD to provide funding! I am very excited to do it again and I think you might enjoy it is much as I do. Note that with my voting bot technically I fund proposals from my account via sending transfers from the @jerrybanfieldroi account which gets my payouts and author rewards to then fund projects via @jerrybanfield.
Charity = Happiness?
I read in Happy Money from https://www.happymoney.com/ that volunteering and spending money on charitable giving, especially when we directly connect with the person we are giving it to, gives us more happiness than a huge pay raise. I experience this for myself every day and am grateful for a system now that helps make it much easier for me to do here on Steem! I experienced more happiness out of giving to these projects on @fundition tonight than I got out of seeing the Steem price go from $2 to over $4 a couple weeks ago.
But Jerry Where Do We Get Money For This?
Make a delegation to jerrybanfield at http://jerry.tips/spdelegate to delegate to my voting bot and start earning 110% of the bids on the delegation indefinitely with daily payouts!
For the ideal combination of self interest and feeling good, use a percentage of the earnings every day or week to fund projects on https://fundition.io/.
While many of us assume that users delegating to voting bots are purely cashing out or powering up all of the earnings and destroying real curation on Steem, the truth is we have a choice on how we use the payouts we get each day and have the opportunity to do a lot of good funding projects with payouts from a voting bot delegation! With @fundition each of us now can easily post projects, upvote, and donate all in one centralized location where we can see who else is contributing and get to know the project creator.
What About Budget Proposals?
Since December 2017, we have collaborated to fund $50,000+ in projects intended to grow Steem ranging uvote bids on hundreds of individual posts with great ideas to advertising campaigns reaching millions of people on Google and Facebook.
We produced the funding by using my account as a voting bot which gave half of the bids to @budgets while returning the other half to delegators. I maintained the responsibility for reviewing the proposals and sending payments via @budgets to fund the projects.
Best Way to Fund Steem Growth Projects?
While six months ago we had no easy method to help project creators receive funding, we now have https://fundition.io/ which gives any of us a place to raise funding for any project on the Steem blockchain with no fees. In the first 27 days, 1089 of us have already funded projects on https://fundition.io/ with 40 founders receiving support since launch. With the existence of @fundition and at least 9 other effective methods to fund growth projects combined with so many voting bots offering to give delegators back 95%+ of bids as seen on https://steembottracker.com/, it seems time to make a change to the budget proposal system. The question is what will be best for all of us on Steem?
End Budget Proposals, Enter Fundition.io!
Today we are retiring the budget proposal system to make space to fully support the funding of projects on https://fundition.io/ because @fundition will help us better collaborate in funding projects designed to grow Steem and support creators! Instead of my bot taking 50% and giving it to @budgets where I become the middleman sending out funds to projects, each delegator is trusted and empowered to support founders directly. My hope is that this will encourage more active relationships between backers and founders along with enabling the funding of more diverse projects than I am able to do by reviewing each budget proposal.
110%+ of Bids Voting Bot Payouts!
To provide the most funding to each delegator, the voting bot on my account starting today will no longer make payments to @budgets and instead return 95% of the bids sent to @jerrybanfield back to delegators and me in daily payments by the amount of Steem power given to the bot. The other 5% of the bids will be sent to the bot operator @steembottracker as payment for operating the bot.
To boost the effective payout to 110% or greater, I am starting to power down all the curation rewards my account earns each week. The once each week a powered down curation reward payment worth 15% to 25% of all bids will also be split among all Steem power contributions to the bot. According to https://steemworld.org/@jerrybanfield in the last 7 days I earned 299 Steem power from curation and therefore will power down 5200 Steem power for payouts of 400 Steem a week to be prepared for an increase in delegations and curation rewards as needed. Each week I will then verify I am powering down the right amount and adjust based on delegations.
To increase the frequency of payments and allow me to err on the side of powering down more instead of less curation rewards, the power downs each week will go to @jerrybanfieldroi which will then make an average of two to three payments back to @jerrybanfield a week which then will be included in daily payouts based on Steem power contributed to the bot. For example, I may send two payments of 200 Steem or 4 payments of 100 Steem from the 400 throughout the week to make the payouts more even instead of a huge boost once a week.
Best Voting Bot Payout?
Delegators can expect each week total return of 110% to 120% of bids in automatic daily payments with some payments each week including the Steem from curation the previous week. At 110% to 120% in bid return percentage, a delegation to my bot will now pay equal to operating ones own voting bot and pay more than a delegation any other voting bot or use of a vote selling system.
To summarize, I intend for delegating to my bot to be the #1 option to get an automatic payout every day for the purpose of empowering generous giving back to help fund growth projects and creators on Steem.
Links to Fundition!
To help increase participation with @fundition, the payouts from my bot every day will start asking every single delegator to please give a percentage of earnings to fund projects https://fundition.io/. This new system is built on trusting delegators each with the full payout instead of taking half of it automatically and helping provide a destination for charitable giving which will then feel good to use. As more founders launch on @fundition and I get my own payouts to @jerrybanfieldroi for my contribution to the bot, I intend to become one of the top backers of projects on @fundition and will make any requests to fund my own projects there also.
If you would like to delegate and receive the very highest payout from your delegation with an estimated return of 110% of bids by including curation reward power downs once a week, will you please use the tool by witness @justyy at http://jerry.tips/spdelegate to make a delegation to me today because this will give you the chance to earn the most back from your Steem power and empower you to become a backer of projects with @fundition?
I have a video tutorial showing how to do this at https://steemit.com/steem/@jerrybanfield/65wju0wr along with the steps below.
- Go to http://jerry.tips/spdelegate and start entering your name as the Delegator ID.
- Enter jerrybanfield in the Delegatee ID field.
- Type in the TOTAL amount of Steem power you want to delegate. For example, if you have delegated 100 Steem power and want to increase to 1,000 enter 1000. There currently is no minimum to delegate although you may not get a payout if the delegation results in a daily payout of less than 0.001 Steem and/or SBD.
- Click on Delegate via Steemconnect.com.
- Verify the link is on https://steemconnect.com with your name on the left and me on the right.
- Enter your account name and your Steem account private active key to sign the transaction.
- Verify the transaction was successful after hitting submit.
Thank You for Reading!
I appreciate the opportunity to collaborate with you in helping fund projects and creators on Steem today! I hope this system empowers us to give the most and feel the best about what we do here each day because that eliminates the need to obsess over what the price is each day and to have absolute faith in what we do here!
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Let's stay together?
- If you want to stay updated via email, will you sign up either to get new emails daily at http://jerry.tips/steemposts or join at http://jerry.tips/emaillist1017 to get an email once a week with highlights?
- If you would like to chat, will you please visit https://jerrybanfield.com/contact/ because there we see the best ways to contact me?
Our Most Important Votes on Steem are for Witness!
- If you do not know what a witness is on Steem, will you please read https://steemit.com/steemit/@gmichelbkk/what-is-a-steem-witness-how-to-vote-and-why because our votes for witnesses determine our future together here on Steem?
- If you have never made a witness vote before, will you please set me as a proxy at https://steemit.com/~witnesses or https://steemconnect.com/sign/account-witness-proxy?proxy=jerrybanfield&approve=1 because you will feel good about helping select witnesses while I do all the work to maintain the votes for you?
- If you already have voted for witnesses and prefer to update your own witness votes, will you please place your vote using at https://steemit.com/~witnesses or https://steemconnect.com/sign/account-witness-vote?witness=jerrybanfield&approve=1 because most of us feel a sense of belonging here when we begin choosing our witnesses?