SportsPodium Emission Model and we will use Steem for the social rewards aspect of our platform

sportspodium (67)in #sports • 7 years ago (edited)

Many have asked about the SportsPodium Token and exactly how the emission model will work. We are very excited about the future of the project especially due to the fact that we have a solid business plan, solid demand creation for the token and also a solid emission model.

SportsPodium Money flow

Please read some of our other posts as we explain everything in detail, though our posts on Steemit. You can also look at our website and whitepaper and we will release an overview document very shortly. Here you can see the token flows in our ecosystem. But we are even more excited about the value for everybody in the ecosystem through the way we are creating our POD tokens and the way we will be managing inflation over time. We have more detail below.

Our Case Final.png

Just like Steemit we will experiment with various options and adapt as we progress. We are however at this point in time looking at the following principles:

Blockchain Governance

The SportsPodium blockchain will be created by the SportsPodium foundation. The network will be influenced by SportsPodium in the beginning because of significant POD vesting. But as the network grows, influence will be distributed organically to assure a representative governance for the network.

Influence

Delegated nodes (may or may not be block producers) are voted for according to DPOS mechanics. These nodes control network influence (changes to Smart Contracts, new Contracts, etc). Any change requires 51% or more of casted votes to be affected.

Vesting

Vesting is a time commitment to exercise influence on the SportsPodium platform. SportsPodium will have PODs and vPODs (vested PODs which is similar to SteemPower). vPODs can’t trade on exchanges or even on the SportsPodium network. They can only be swapped for PODs.

Users can instantly change between the Pods and vPods. (i.e. the currency stays liquid).

The reason for keeping vPODs is that they control influence on the network and determine voting power when they are vested. vPODs only become “vested” and create influence after 6 months. Swapping vPODs for PODs and then back will reset the time counter.
vPODs will also become “protected” and start to earn daily calculated inflation protection after 1 week. Please see “Emission Model” below.

Our Reward Mechanisms

SportsPodium will have 3 Reward mechanisms to our platform contributors:

Reputation rewards - Data contribution and curation rewards (Athletes, Coaches, Teams, Schools/ Clubs )
Recruitment rewards (Ambassadors, Friends and Sporting Bodies)
Social rewards right here on Steemit (Admins, Clubs, School, Parents, Fans)

Athletes and coaches earn rewards based on activity. Rewards are applied with a reputation multiplier. Reputation is influenced by diligence, accuracy and performance over time.

Ambassadors, friends and sporting bodies earn rewards based on network participation (growth).

Social contributions for SportsPodium will be run entirely on a separate blockchain optimised for social media with a different reward mechanism. SportsPodium will interface with this blockchain with our UI toolset to provide a seamless experience for end users. Due to the fact that we have ambassadors per sport and friends per country, we are bullish that the user growth will be hundreds of thousands if not millions of users to join Steemit in due course.

As announced in earlier posts, we are very excited that the social media side of our platform will run on the Steemit platform. We will make more technical detail available in due course.

Emission Model

Tokens will be minted daily at a rate of 20% per year of total PODs available on the platform. Half of the daily minted tokens will be reserved for Recruitment and Reputation rewards and the other half for vested vPODs.
The Recruitment and Reputation rewards will be limited based on the quantifiable activities recorded by users. The unspent balance of this reward allocation will be added to the vested vPODs allocation.
The vested vPOD allocation will be used for network upkeep (Block producers and Master nodes) as well as inflation protection for vested vPODs as determined by the master nodes currently voted into power by the vested vPODs.

Sub-Networks (Multi-Coin Scenario)

Our proposal to stimulate organic growth with autonomous communities is to split the community off to their own sub network once the Recruitment and Reputation rewards reach 80% of the 10% allocated to the rewards distribution. A new sub network will then be created with its own governance structure. We are likely to break sub-networks down to a network per sporting code per country depending on the level of participation and to ensure that our platform in scalable into the future.

We believe that there is a lot of hope for the upcoming athletes and the future of sport.

If you have not taken advantage of the Steemit exclusive offer to get your hands on some pods, please do so by going to our Pre-Token sale website or even more easily by just transferring Steem or Steem Dollars to the @sportspodium Steemit wallet. Your pods will be issued based on the ETH price at the time of purchase.