Weekly Burn Report - 1.7% of this weeks STEM tokens burned!

in stemgeeks •  10 months ago 

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

There are 16,128 STEM tokens created for the reward pool weekly.

@stemgeeks author rewards 192.28364 STEM
@stemcuration curation rewards - 40.292466 STEM
STEM burned for promotion - 40 STEM
Misc Token Burn - 0 STEM

Total Burned: 272.576 STEM (1.7% of weekly reward pool)

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.

Authors get paid when people like you upvote their post.
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STEM is holding up well at present compared to many other SE tokens 👍

I hope that means we are doing something right.

I see zero tolerance on scammers and support of the decent content. 2 things for you there :)

I agree. Back in July, I wrote this

I think the value of the tokens will be determined by the curation strategies of the high-rollers for each token

Also this:

anything that brings eyeballs adds value, and I think these tokens will bring eyeballs.

I think the STEM curation-influencers (both STEM and #steemstem) have decent curation strategies, which makes the second part easier, but in the long run, bringing eyeballs depends on content and it has to be more of a decentralized effort. That piece still needs to be cracked. It reminds me of the flywheel effect from The Amazon Way: 14 Leadership Principles Behind the World's Most Disruptive Company. Once you get the fly wheel moving, it's easy to keep it going, but getting it started is a bear.

We are definitely open to ideas if anyone wants to pitch them or talk about them in Discord.

Well, I've never been much of a Twitter person, but you have to go where the eyeballs are, I guess. This morning I set up this account - https://twitter.com/SharesSteem - and I'll start using it to share my daily articles along with some others, including STEM topics.

Sounds awesome!