Forfeiting STEMGeeks Team Tokens

in LeoFinance3 months ago


When we created the STEMGeeks tribe, we had to allocate tokens to the initial supply to maintain a predictable inflation. Out of the 10M initial supply, 2M went to STEMGeeks team for contests, curation, and future development.

During the last few years we only used a portion of these funds to power up the official curation account. We have regularly burned all tokens earned through official posts and curation. We feel now it is time to fully power down our official curation account and remove all the tokens from the supply.

Over the last week we have removed delegations to the official curators and now that is returned, we have initiated a full power down. As these funds are removed we will start burning them by sending them to null over the next four weeks.


In the meantime, I burned just shy of 40,000 STEM that was minted for the team but never actually used.


There is currently 630,000 STEM being unstaked from @stemcuration which will take 28 days to fully unstake.


As you can see, this represents a large portion of the currently staked STEM tokens. You can also see we have regularlly burned almost 56% of the circulating supply. The goal has always been to minimize the distribution of STEM tokens while the user base is small.

As these tokens are unstaked, you will likely notice your influence in the community has gone up. We don't always use the voting power, so it won't go up as much as you may think.

Also keep an eye out for the MuTerra's launch where you can get one of the limited edition Tamer cards using STEM tokens.


Posted Using LeoFinance Beta





 3 months ago 

Curation is now mostly a community-driven effort. The burnt stake doesn't take away the mods' ability to mitigate abuse, as needed.

I think it's a step in the right direction.

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good to hear to see another 630K STEM tokens will be burnt. Can this be the turning point for the STEM token? And great to see something lined up for STEM and MuTerra's limited edition Tamer card. cheers

Hi @stemgeeks ,It seems that I broke a rule , I do not know which one , the photos are mine .
Possibly being an idiot haaaaa, but I don't think so, I repeat the photos are mine.
Thank you for your answer, I wish you an excellent day

 3 months ago 

A post can be muted for being off-topic.

In other words, I didn't find them to be STEM-related.

OK .
I wish you a happy weekend