First day results of reward changes

in LeoFinancelast month (edited)

Yesterday was the first day of our reward pool update and I have some numbers for you.

First off, a brief explanation of the change and why we did it.

Prior to yesterday, everyone earned the same rewards regardless of where they made their post. The new change reduces the rewards to posts that use our tags but are not created on https://stemgeeks.net.

There are a few reasons for this change, the primary one is we are indexing posts that use additional tags outside of our community tag "stemgeeks" and "stem". These additional tags (science, technology, engineering, math) are added to allow us to capture more related content in the community. This doesn't work 100% of the time as people frequently improperly tag their content.

A common issue is tagging posts as "technology" when they mention Bitcoin even though it only has to do with the price. While Bitcoin is in fact a technology, talking about price and investing has nothing to do with STEM and is off-topic.

Everyone is free to tag their posts however they like, but as a community I want to see on-topic posts rewarded and off-topic posts to fade into the background. I also want to see users who are actively contributing time and effort to STEMGeeks to receive the most rewards and attention.

This is the primary reason for the change, but there are other benefits as well. If you post on https://stemgeeks.net we become the authority for the content and receive more search engine traffic as a result. This helps us potentially get more users to sign on and more readers to your content.

First day results

After around 23 hours or so, I have seen around 450 STEM deposited into the @stemburn account. This represents 50% of the author rewards for anyone using STEMGeeks tags without using our front end. This is roughly 3% of the weekly reward pool and I estimate the total weekly burn for this change will result in over 20% of the reward pool being burned weekly. This number should go down as more users opt to use https://stemgeeks.net to post their content.

This is a very significant amount of tokens being removed from the supply. STEMGeeks already is less than half the inflation of most tribes and has a very low yearly supply. Relative to other tokens, there are very few tokens to go around and authors posting on https://stemgeeks.net are earning a lot due to low competition.

Remember as always, I burn all author rewards earned on @stemgeeks and liquid curation rewards on @stemcuration further reducing the weekly supply by another 3% or so.

There are more exciting changes coming to STEMGeeks.

This is a great time to be part of STEMGeeks, there likely won't be a better time to earn STEM tokens than today.

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This is a good idea. Thanks.

 last month 

Prior to this change, I was a little reluctant to upvote #technology tagged posts, since they were often not really STEM, even though they might have indeed been "technology," broadly speaking. With this change, I'm not as worried about those upvotes anymore.

The way I see it, is if someone posts about some new technology, even though it's not strictly STEM-related, and they get a smaller STEM reward, this is a type of promotion for stemgeeks.net. If they want to earn more, they might look into it since they get rewards in their wallet.

At that point, the author might be more likely to use stemgeeks.net directly. I like the "rewards as promo" model, to a certain extent. I think this change aligns well with that.

Posted Using LeoFinance Beta

 last month 

I think that's a good way to look at it. I see a lot of value including these additional tags and knew when I did it they would come with some issues. Not everyone is even aware STEMGeeks exists or even thinks of it.

Are you the same folks who run the STEM token on Hive Engine? Lol There's too many tokens to keep straight sometimes!

 last month 

Yes.

Cool thanks, I occasionally try to post STEM content for Excel/Tableau work I'm doing/learning but aren't sure what the right tags are. I'll pop into the community and see what others are using. Thankfully I'm determined not to tag spam and it actually relates to learning tech, not just talk about bitcoin hehe.

 last month 

Remember as always, I burn all author rewards earned on @stemgeeks and liquid curation rewards on @stemcuration further reducing the weekly supply by another 3% or so.

Yup, that's why the curators vote on the tribe update posts.

Posted with STEMGeeks

I think it's a positive change, in the sense that it rewards deliberately created STEM content above the content that may be using more or less "accidental" tags... the #technology tag is a very broad category... heck, my old microwave is technically speaking "technology!"

That’s amazing

Posted with STEMGeeks

 last month 

Curation is completely unaffected by this change. Curators receive the same rewards regardless of where the post is made.