Over 500,000 STEM burned off @nostem4u account

in LeoFinance4 months ago (edited)

As mentioned in a previous post, we are phasing out the @nostem4u anti-abuse account. As such, we are powering down the 1M STEM tokens, and sending them to null.

Half of the tokens have been powered down, with the last half finishing in about 2 weeks.

I never liked thPreviously we burned 500,000 STEM tokens off @nostem4u. We just burned another 500,000+ STEM tokens to completely eliminate the 1M STEM tokens allocated to the @nostem4u anti-abuse account.

The anti-abuse @nostem4u account was it was a brute force tool. When created, the stake was set high enough to handle any situation and most of the time only a 1-5% vote w10% of the initial supply, and the sell wall was another 20%. Most of the sell wall (2M out of 2.5M) has nbeedn burned, to adjust any rewards on STEMGeeks.

@nostem4u was not used frequently as the curators have been doing a good job rewarding on topic content and ensuring off-topic and spam has not been rewarded, I am very proud of this. Post level muting allows me to deal with any situation where an account level mute isn't warranted but a post is off-topic and doesn't belong.

Burning @nostem4u stake from the ecosystem removes more than 25% of the STEM tokens from existence.

In two weeks the last 500K will finish powering down and will provide an update when that happens.here is still 500K that has not been issued or burned of the original sell wall supply.

STEM has just over 2M tokens in circulation, with over 2.3M STEM tokens burned from the initial supply and weekly reward pool. Before burning, STEMGeeks is already a low inflation token with the lowest inflation and highest burn of other tribe tokens.

We are working on some unique ways to reward the most loyal members of the STEMGeeks community which will announce soon. As always, if you have ideas, please let us know in our Discord.

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The frontend usage has increased I've noticed.

Hopefully, more and more people show up here.

That's great news and further reduces STEM token circulating supply.. Welcome this move of the STEM token burn. Cheers

Not a glamerous post but incredibly impressive that curation alone is driving rewards and that tag abusers are being kept at bay. Added to that, the burning of a huge proportion of the circulating Stem and the post becomes an example for other tribes to take note of.
Great Hive community contribution :-)

Hey just a suggestion , next time can we do something like this?

Have a contest for burning and whatever amount is burnt for promoting , you will burn 100x that ?

This way you are burning from @nostem4u and also show the potential of promoting the posts to the users ?

I just want it burned and over with. It is no longer being used, so I want it gone. The end goal has always been to burn it when it is not needed, so gamifying it doesn't change the outcome, it was never to be sold, so the only outcome is to burn it.

Burn it alllllllll

Fucking pyromaniac.....not sure whether I should still be talking to you. Aren't you on Spaminators blacklist? I have a reputation to think about lol ;-)

😁

I do like a good fire. And yes, I was on their list for a few hours - the bot thought I was being rude to Eve!

I'm loving the STEM GEEK community. How can I earn STEM? I want to be active with community and founders. Is there a discord?

I didn't know you guys had a platform - https://stemgeeks.net/. I love writing STEM articles. I stopped for some time, I guess I will have to resume my STEM writing again. But I still would love to discord link to the community.