STEMGeeks burn report - 89.2% burned this week - July 29th 2022

in LeoFinance4 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 - 31.445794 STEM
  • @stemcuration curation rewards - 1951.47555 STEM
  • 75% Author Rewards Burned - 5835.603864 STEM
  • APE Mining Club - 2687.663321 STEM
  • STEM burned for promotion - 5 Stem

Total Burned: 10,511.188529 STEM (~89.2% 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.

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I observed a nice price hike from 0.01 to 0.029 Hive, I think it might be the reason token were burned almost 90% of total pool rewards. Less supply more demand and keeps the ecosystem in balance.

99% of STEMM burned so just 1 % in the market, and I saw they were having an ask price of 9.9 Hive.

So, how will STEM distribute author/curator rewards once the reward pool is empty?

Thanks

 4 months ago 

It's a bit more complicated than that.

While the weekly reward pool is being mostly burned, a lot of this burning is from rewards that were gained in other weeks (being sent to Ape Mining Club game). Most of the rewards are the 75% burn of posts that were not made on Stemgeeks.net, but there is a good amount coming from wallets that were gained previously.

It means the token burn is not all from the reward pool but also from other sources contributing to stemgeeks.net.
Seems, very complicated to me, I should read the whitepaper to learn more about tokenomics. Thanks for the reply.

 4 months ago 

I am pleasantly surprised that several thousand STEM are burned via Ape Mining Club still.