STEMGeeks burn report - 65% burned this week - August 6th, 2022

in LeoFinance2 months ago

STEMGeeks has burned all the author rewards on @steemgeeks and curation rewards on @stemcuration.

There are 11,775 STEM tokens created for the reward pool weekly.

  • @stemgeeks author rewards - 31.973717 STEM
  • @stemcuration curation rewards - 1599.213741 STEM
  • 75% Author Rewards Burned - 4860.216973 STEM
  • APE Mining Club - 1170.247803 STEM
  • STEM burned for promotion - 30.334305 Stem

Total Burned: 7,693.586539 STEM (~65% of weekly reward pool)

We continue to burn all our author and curation rewards on our official accounts.

Get more author rewards

Post from https://stemgeeks.net and get full STEM author payouts for your posts. Posts made on any other front end will only receive 50% author rewards.


Linear rewards are now enabled!


20% of the reward pool goes to STEM Miners?

99% of the miners have been burned. Do you have any?
If you like passive income, STEM Miners have you covered.
You can grab some on Hive Engine.

There are a limited number of STEM Miners available.


Promote your posts by burning STEM to @null

Send STEM tokens to null with a STEM post in the memo. This will push your post above all others as a promoted post. It takes very little STEM to do this and be placed at the top as there is little competition for this feature right now.

By using STEM for promotion you reduce the STEM token supply increasing the potential value of the token.

Posted Using LeoFinance Beta

Sort:  

What happened? 50% drop on the STEM token price!!!

 2 months ago 

When hive pumps hive engine tokens usually drop by as much. There was also a big user cashing out at same time. He is cashing out all his he tokens.

Ok, got it

Hi @stemgeeks team,
I was wondering can we not try buying back the miners from the curation rewards that we burn and burn them as well. And see how it goes. Worth a try.Cheers

 2 months ago 

Curation rewards get burned, to sell them to buy miners would put more STEM on the market for sale and thus more sell pressure.

Buying back miners would only be effective if I could get all 5700 miners back and disable the mining contract (which accounts for 20% of the inflation).

Stem team, you're doing great by burning more tokens and this is helping to make token economy strong.

Actually 65% is lowish we tend to burn more

I love the burn token economics here on the STEM platform. Its the best across all the second layer tokens here on HIVE blockchain. At the same time gives the opportunity for tokens to be scare and valuable in long term. Cheers