SMT Burnup: Voting & Delegation
After a busy couple of weeks getting HF21/22 stable, we are back to focusing on SMTs. Despite the hardfork-related work, we still managed to complete 18 points last week.
SMT Voting and Delegation
We completed two big issues, #2748 and #3373. #2748 implemented the logic that allows users to vote on content using their SMTs for the purpose of SMT reward allocation. #3373 implemented SMT delegations. Both of these are key features of STEEM that are important to have for SMTs as well.
Issue #2748 was severely undersized (required far more work than predicted) and took much longer than anticipated to complete. These two issues offset one another, so our velocity for the week ended up being pretty close to the actual work that was completed.
SMT-Specific Voting
We were able to complete #2745 with minimal effort thanks to work that had been done previously. #2745 enables Steem account holders to vote on content with different amounts of mana for each SMT in the comment's votable assets. This is an important feature for SMTs. When anyone creates content on Steem they will be able to specify which SMTs they want to be rewarded in.
Imagine someone writes a poem and specifies that they would like to be rewarded in 3 hypothetical tokens: POET, RAP, and DRAMA. Now imagine that you think the poem is extremely worthy of earning a lot of POET tokens, moderately worthy of earning some RAP tokens, and doesn’t deserve any DRAMA tokens whatsoever. Without this feature, if you wanted to reward the content creator with the maximum amount of POET, you would also have to reward them with the maximum amount of RAP and DRAMA too!
What this feature will enable users to do is adjust the power of their votes for each token. Before rendering the vote they can specify that they want to vote with all of their POET stake, 50% (or some other moderate percentage) of their RAP stake, and none of their DRAMA stake. The end result being that the content creator earns the tokens they deserve, and doesn’t earn the tokens they don’t deserve.
On Schedule
We are now right on schedule. Several weeks back we were able to jump ahead of schedule on SMTs, which enabled us to spend time bug fixing Harfork 21/22 without falling behind schedule.
Scope Increase
There was no additional scope increase this week.
Summary
Completed : 18
In Progress : 8
Scope Increase: 0
Net From Ideal: 2
Status: Good
You can see our previous post on SMT Burnup Methodology for more information.
The Steemit Blockchain Team
Who else feels steem is finally heading in the right directions? 🙋♂️
I do!
What is right direction?
Less reward pool rape
More community
Me too. The manual curation has been increased a lot since the initiation of HardFork 22 (HF22). And Steemit, Inc are generated enough money through ad revenues to pause the Steem selling this month. I hope that things will continue like this, and even improve in the near future, and the value of the Steem will come back up to $1 USD and more again.
Huge improvements over the past year on all sides.
#2745 sounds like an important one and the Tribes have shown it is a pain in the arse to allocate specific weights (especially 0) to each token without creating a bunch of accounts.
Yuuuup.
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There is a way to change your percentages but it requires some coding skill which i don't have. It will be an important one for SMT's to get a slider for.
If it could be done through some coding, can't that be integrated in some front-end interface for the tribe? I hope SE team will deliver this feature before SMT's, if it's actually possible.
DRAMA is a fictional token, any similarities with existing token(s) is purely coincidental ;)
!dramatoken
Great news. You guys should add the SMT Burn Up graph in here for a visual. :)
Definitely, makes more sense.
This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.
@steemitblog,
Did you mean comment base voting like what $trdo wish to implement soon?
Cheers~
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@steemitblog got 6 TRDO & @theguruasia got 4 TRDO!
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Who else is going to create a token on steem??
🙋🏼♂️
delegate to steemhunt, busy... they did the most for this chain
Is comment the correct word here and, if so, how exactly does a comment have voteable assets?
I would imagine that "comment" here is interchangeable w/ "Posts" and "Comments", which are both comment-objects in the eyes of the blockchain -- just with references to different authors / parent-authors.
Good job and thank you for the update!
Can't wait for the SMT's