Steem Blockchain: STU, Reputation, Author/Curator Ratio, etc.- Steemit Crypto Academy- S4W7- Homework Post for @sapwood

3개월 전

Hello steem community.

TASKS

(1) What is STU? What is the break-up of STU? Take a real example to indicate the STU and calculate the different rewards that Author and Curators generated from your last Post Payout? (Screenshot required)
(2) Indicate the Raw reputation score of your Steem Account and calculate your Reputation? Cross-check it with the Reputation score displayed in Steemworld.org?
(3) What percentage(of the Post Payout) was generated as liquid rewards(SBD) from your last Post in terms of USD equivalent? Explain how the rise of SBD has shifted the supply dynamics? As per your last post payout calculate the ratio of Author:Curator Reward in terms of USD equivalent?
(4) Explain how & why an initiative like #club5050 can shift the demand/supply dynamics in favor of STEEM?
(5) Consider a user having a reputation lower than you, upvotes your Post-- Does it affect the Payout and increase the Rep? If the same user goes for a downvote, does that affect your Payout and Reputation both? Explain Why & How; with Examples?




Image designed with canva

(1) What is STU? What is the break-up of STU? Take a real example to indicate the STU and calculate the different rewards that Author and Curators generated from your last Post Payout? (Screenshot required)

STU (Steem Token Unit) is a term used to denote wholly the storage value on the steem blockchain. It is used to indicate the total payout which accrues to a post.


image gotten from steemworld

From the above screenshot we see that STU is the total value of a post payout which comprises a breakup of steem power, steem and SBD
Breakup of STU

  • Steem - This is the basic liquid currency underlying the steem blockchain from which all other tokens derive their value. It can be transferred with ease and purchased and sold on exchanges.

  • Steem Dollars (SBD) - SBD or steem backed dollars is a stable cryptocurrency built on the steem network which was originally pegged to the USD. It can be converted to steem and traded at any time

  • Steem power - This is also called staked steem. It is an internal currency that cant be traded on external exchanges. Steem power can be converted back to liquid steem through a process called powering down

Breakdown of post payout
I'll be making use of an old post whose rewards have been distributed to indicate the STU and calculate the rewards that accrue to the author and the curators.

I have this post payout option set to 50% SBD and 50% sp which means 50% of the author rewards would pay out in SBD and 50% in steem power.


final.png
screenshot taken from steemit post

Post payout - $29.63
Author rewards - $14.81
Curator rewards - $14.81

From this payout, STU was $29.63 and there was a split in rewards between author and curators
Author reward = 50% of STU (50/100 * 29.63) = 14.815
:. Since post is set to 50:50 payout in SBD and Steem

Author rewards in SBD = 14.815 / 2 = 7.407 SBD
Author rewards in sp on the other hand will be calculated based on the steem feed price at the time of payout.

But first calculating the steem payout in terms of USD - 14.815 / 2 = $7.407
The steem feed price at the time of this payout was $0.5738
:. Author rewards in sp = (7.407 / 0.5738) = 12.90 sp


final2.png
image gotten from steemd.com


image.png

(2) Indicate the Raw reputation score of your Steem Account and calculate your Reputation? Cross-check it with the Reputation score displayed on Steemworld.org
Reputation on the steem blockchain is

Reputation increases with upvotes and is not in any way linked to account value. This is a common misconception some steemians (minnows) on the steem blockchain have. This statement is backed by the scores of steemians having reputation 25 (which is the beginning rep score) having millions worth of so and

I've made use of the steemd application to indicate the raw score that pertains to my account (@doppley). direct link - steemd.com/@doppley


reputation.png
image gotten from steemd

In the lecture given by professor @sapwood, students were exposed to the formula used to calculate Reputation scores. This formula is given below;

Reputation = (Log10(Raw Reputation Score)-9) * 9)+25

In the above chart data, the raw reputation score is given as
41,371,610,131,112

Therefore
Raw reputation score = (Log10(Raw Reputation Score)-9) * 9)+25

Reputation = (Log10(41,371,610,131,112)-9) * 9)+25

Reputation = (13.6167-9)* 9)+25 = 66.5503

Verifying this score using the steem world


steem world.png


image.png

(3) What percentage(of the Post Payout) was generated as liquid rewards(SBD) from your last Post in terms of USD equivalent? Explain how the rise of SBD has shifted the supply dynamics? As per your last post payout calculate the ratio of Author:Curator Reward in terms of USD equivalent?

I'll be extracting information from my last payout post for this analysis.
Refer to this post


payout.png

Payout
Author payout - $16.76
Curator payout - $16.75

NOW, ill go further to calculate the SBD and SP I have generated and, how much
SP curators have generated respectively from the post payout.
Accessing the steemdb.io parameter we observe that the SBD print rate is 100%


print rate.png
image gotten from steemdb

Therefore the reward split in the case of the author payout would be SBD+STEEM.

Author payout = $16.76
Since 50% of the author payout pays out in SBD, SBD payout equals (16.76/2)
= 8.38

The remaining 50% of the author rewards will be paid out in USD worth of steem. This post paid out seven days ago and the steem price at the time of payout was $0.6000, therefore SP was (8.38/0.60157)
= 13.93 SP


finalll.png
screenshot taken from steemd.com

calculating the curator payout
Curator payout = $16.75

It's important to note that this payout info is expressed in terms of USD therefore, to determine the amount of SP that was paid out to curators, the feed price of steem as at payout is also taken into consideration.

Curator payout in SP = (16.75/0.60157) = 27.84 SP

Percentage of payout generated as liquid rewards

The monetary value in USD equivalent of rewards generated by post payout is given below


Screenshot_20211023_211633.png

1 SBD is trading above 1 USD. As at the time of post payout 1 SBD was worth $6.9. The liquid rewards generated in SBD from post payout was 8.38 SBD, therefore we have the USD worth of liquid rewards as (8.38 x 6.9)
Liquid rewards in USD - $57.822

The total rewards generated from post is given as - $82.95

Percentage of post payout generated as liquid rewards
(USD equivalent of SBD (liquid reward)/ USD equivalent of total rewards) * 100
(57.822/82.95) * 100 = 69.70%

How the rise of SBD has shifted the supply dynamics

From the blue paper of this project, SBD (Steem Backed Dollars) was designed to be pegged to $1 as a relatively stable currency, created for stability for those looking to preserve their account value.

Let's imagine SBD (SteemBacked Dollars) is still trading around $1. Making use of the above example, the amount of liquid rewards in USD that would have been paid out will be
SBD received * ($1) = $8.38.
This would have been 50% of the total author payout of $16.76 and 25% of the total payout which would have remained at $33.51

However, SBD (Steem Backed Dollars) is currently trading way above its supposed pegged value. Trading at $6.38 at the time of this post, this will not have been an issue but the reward pool still recognizes the peg that exists between SBD and USD therefore it issues out SBD token to that respect which brings about the high ratio of liquid rewards payout.

With this development, due to the explosion in liquid rewards generated, authors who set their payout options to 50/50 are earning a much larger share of the reward pool. As analyzed in the above example, the ratio is somewhere around 80:20. Since SBD commands a higher value, the supply of steem is affected while its demand rate remains constant, this eventually leads to a lesser value on the part of steem.

Ratio of Author:curator rewarding terms of USD equivalent
In this example, from the spreadsheet above. A $33.51 payout yields a total of $66.2(79.8%) for the author and $16.75(20.2%) for the curators.
This is approximately an 80:20 reward split.


percent.png


image.png

(4) Explain how & why an initiative like #club5050 can shift the demand/supply dynamics in favor of STEEM?

Club 5050 is an initiative brought about by the steemit team which encourages users on the steemcommunity to power up 50% of their liquid earnings. This initiative was brought about as a result of the uneven distribution of rewards brought about by SBD trading above the $1 range.

In the above post example, the liquid earnings gotten from the post is nearly 70% as opposed to the 25% liquid payout that should exist as documented by the blockchain. If SBD continued to trade at its pegged value of $1, the 25% liquid payout would have been respected but with the current development where users tend to sell their earned SBD for steem to make it easily transferrable from the platform, the trading volume and supply of steem increases continually but demand on the other hand remains constant. This will result in a reduction of value in the long run.

Adoption of the club 5050 initiative will resolve this issue as users will power up 50% of their liquid rewards and in doing so move the liquid rewards payout closer to 25% and at the same time improve the demand for steem.

As this initiative is continually adopted it can help to shift the demand/supply dynamics in favor of steem.


image.png

(5) Consider a user having a reputation lower than you, upvotes your Post-- Does it affect the Payout and increase the Rep? If the same user goes for a downvote, does that affect your Payout and Reputation both? Explain Why & How; with Examples?

If a user having a lower reputation upvotes a post, it will generate rewards(relative to the sp size and voting power) as well as increase reputation.
To quantify this analysis, I'll make use of my account and steemcurator01 with the steemworld site.

I've pulled up the information of a recent payout post and in the given post, I received some upvotes from various users. Notably, steemcurator01 having a reputation of 62.5.


post.png

Steemcurator reputation score detail
doppley reputation score detail

Images gotten from steemworld

We observe that an upvote from the curator01 account generated post rewards as well as increased my reputation irrespective of the lower reputation the account issuing the vote possesses.

Conversely, if steemcurator01 had gone for a downvote here, it would impact the rewards negatively but would not affect my reputation because steemcurator01 reputation is lower than mine (62.5) compared to my rep score of 66.5. However, if a user with a reputation score higher than mine goes for a downvote it would affect both rewards and reputation negatively.

In order for a downvote to affect reputation score negatively, it has to be coming from an account with an higher reputation to one with a lower reputation.


Conclusion


The topic for this week widened my scope and understanding of Reputation on the steem blockchain as well as the distribution of rewards in the pool. Every question asked required participants in the lecture to perform actions relating to interacting with and understanding more about the various steem apps that exist.

I've done my research and tried to tackle the advanced course for the week. I was able to learn new things through the course of this task and I must admit, this task is one I really enjoyed doing. I apologise for any mistake I might have made in the course of doing this task and I'd appreciate it if the professor could kindly point them out for me if any.

Much thanks to crypto professor @sapwood and the steemit team for this amazing lecture.

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Dear @doppley. Thanks for attending the Steemit Crypto Academy Season 4 Week 7. Let's take a look at the breakdown of your performance below.

Grading Basis Score
Content Structure 1/1.5
Originality 2/2
Clarity of Language 1/2
Compliance with the Topic 1.5/1.5
Quality of Analysis 1/2
#club5050 0/1
Total 6.5/10

Feedback/Suggestions

  • Nice work done on this.

The steem feed price at the time of this payout was $0.5738

Source? You should include the source of the price feed.

Percentage of post payout generated as liquid rewards
(USD equivalent of SBD (liquid reward)/ USD equivalent of total rewards) * 100
(57.822/82.95) * 100 = 69.70%

Quite right. Although, there a are few rounding off errors in this article.

In this example, from the spreadsheet above. A $33.51 payout yields a total of $66.2(79.8%) for the author and $16.75(20.2%) for the curators.
This is approximately an 80:20 reward split.

Quite right but you failed to show the calculation and that affected your analysis in that section.

  • You can do better on question 4 and 5. Pay attention to how roundoff your figures and improve on proper analysis.

  • Please do not use the tag #club5050 again if you have not powered up at least 50% of your rewards in the last 7 days.

  • Take note of the corrections above. Thank you.

Total| 6.5/10