Burned tokens, rewards, and inflation summary September 10, 2022 - Total burn estimates: 88,781K STEEM/SP and 55 SBD

Steemit launched the #burnsteem25 initiative on May 22, and the corresponding rewards started being delivered to @null on May 29. Subsequently, on August 9, Steemit announced that they'd be monitoring post promotions daily. Here is the next weekly update with PowerBI charts to visualize the burned token-related statistics since those dates.


Slide 1: Burn amounts in beneficiary rewards and transfers to @null.

Weekly totals were about 7,775 STEEM/SP and 2.85 SBD. An all time high of 731 SP burned in beneficiary rewards was observed on Monday (September 5).

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Top-left: This image shows the number of VESTS along with the estimated numbers of SP and ( SP + STEEM ) beneficiary rewards that have been burned since May 29. This is where the headline number comes from.

Top-right: This shows the VESTS and the estimated SP beneficiary rewards burned per month.

Middle: This shows the daily VESTS and the estimated SP beneficiary rewards that have been burned.



In all three of the above charts, VESTS are shown against the left axis, SP and STEEM are shown against the right.

Bottom: SBD transfers to @null. As readers are likely aware, SBD transfers to @null can get a post added to the /promoted page. The visualization on the left shows the breakdown by year. The visualization in the middle shows a monthly aggregation of SBDs transferred and a count of unique senders. The visualization on the right shows the daily record.


Slide 2: Rewards summary

Curator rewards use the scale on the right, author and beneficiary rewards use the scale on the left. Thus, curation rewards appear to be scaled down relative to author & beneficiary rewards. Beneficiary rewards for @null in this chart (red) have been adjusted in order to account for both SP and liquid rewards. The top graph shows the monthly aggregations, and the bottom graph shows daily totals.

Unchanged from last week is that SBD printing has remained paused, due to the continuing sluggishness in the price of STEEM (and crypto markets at large). With the present SBD supply, it looks like the median on-chain price for STEEM needs to get back to about $0.252 for SBDs to start printing again.

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Slide 3: STEEM & SBD Supply as well as vested (i.e. staked or "powered up") STEEM

Noteworthy this week is that the percentage of liquid STEEM has continued to decline as a percentage of both current STEEM supply and virtual STEEM supply.

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The top-left image provides a summary view of current and virtual STEEM supply, current SBD supply, liquid and vested STEEM, and the amount of STEEM reserved as collateral for paying off SBDs.

Note
Collateralized STEEM and current SBD supply actually represent the same value expressed in terms of STEEM or SBDs, respectively. They're aligned differently on the graph because they use different axes.

The top-right graphic now contains a zoom-in on "virtual STEEM Supply" (left axis) and the ratio of liquid STEEM / virutal STEEM supply (right axis). As we learned, here, virtual STEEM supply is heavily influenced by price, so with STEEM prices down, it's not surprising to find the virtual STEEM supply increasing. The up-side of this is that it's now possible to burn more collateralized STEEM per SBD with post promotion.

The bottom-left visualization now contains the ratio of liquid STEEM / current STEEM supply (left axis) and a zoom-in on Current SBD supply (right axis)

The chart on the bottom right shows the value of SBDs in terms of STEEM, according to the blockchain conversion rate, not external markets. This is the inverse of the blockchain's: internal price (which is different from the actual feed median, for reasons that I don't currently understand).

Now, here are some more details about each of the values

ParameterAxis (left/right)MeaningComments
SBD SupplyrightNumber of SBDs in circulationEquivalent in value to collateralized STEEM
Collateralized STEEMleftNumber of STEEM needed to pay off all SBD debtEquivalent in value to SBD Supply
Vested STEEMleftNumber of STEEM staked as STEEMPOWER
Liquid STEEMleftNumber of STEEM that's not staked or needed for SBD collateralCalculated as (Current STEEM supply - Vested STEEM)
Current STEEM supplyleftNumber of STEEM in circulation
Virtual STEEM supplyleftNumber of STEEM in existence

Thanks for reading!


For previous updates, see:


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Pixabay license, source

Reminder


Visit the /promoted page and #burnsteem25 to support the inflation-fighters who are helping to enable decentralized regulation of Steem token supply growth.

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It seems to me that whales who are well paid for posts in the first place should burn. And small accounts need to increase their voice power on the contrary. After all, it is practically useless to burn from accrual in 1 steem. What do you think?

I think burning should be an incentive for visibility, so anyone who can figure out clever ways to build their audience with post promotion and beneficiary rewards should go ahead and do it. To me, it doesn't matter what stake someone has.

It strikes me when you say for reasons that I do not understand , that is to say , I am reading and looking at the graphs , I think , this man knows perfectly what he is doing and says , well it is normal that not all of us know and understand it .
Thank you for your information and a very complete post.

I just read a quote from Thomas Edison, yesterday.

“It’s obvious that we don’t know one millionth of one percent about anything.”

I guess that was over a hundred years ago, but it still seems right.

As the mining rate of social coin usually very high so it has a difficult way to hold its price. And for this, burning the coin to control the supply is very wise actions.

This post has been featured in the latest edition of Steem News...

It's nice that the Steem burns are increasing. This is very nice for the continuation of the ecosystem.