INV tokens can be used for creating Steem account & can also be traded in Steem-engine market.

in #invite2 years ago

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For anyone one to socialize in Steem blockchain requires a steem account and some minimum amount of steem power to engage in various activities and tasks. For every activity, there is certain consumption of resource credit and the amount of available resource credits in a steem account depends on the amount of SP available, including delegated SP.

Steem.ninja

Steem.ninja is such a service in Steem blockchain which mainly focuses on onboarding new people to steem blockchain. For a new user, especially the one who does not have an exposure to crypto and blockchain, creating a steem account with crypto is a tedious task and it further becomes difficult when the new user needs some delegation to start his activities in steem blockchain. Considering this, Steem.ninja has an exclusive tool to enable new people to create a new steem account with a credit card with a payment of 2 USD only. The new users get a new steem account+15 SP delegation for 90 days. Apart from this, it has a referral program to reward people who introduces new people to steem blockchain via steem.ninja.

INV Token

Now Steem.ninja has come up with another product called INV token which has been created using the smart contract of Steem-engine. Using INV tokens people can mine steem account in 1:1 ratio (1 INV token=1 Steem account).

INV tokens can be mined by the steem users either by delegating their SP or by delegating PAL. The delegation can be initiated directly from the official website of Steem.ninja.

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There are 300 INV tokens mined every week and the 300 tokens are dispersed among the delegators every week in proportions to their delegation.

For delegating SP, you can visit https://invite.steem.ninja/. There you need to click on “Delegate Now”. A pop up will appear where the steem username required to be entered. By clicking on “Show Available Steem Power”, will show the SP you have. The amount of SP has to be filled & then proceed with “Delegate” & authorize it by Steemconnect or Steem keychain.

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Pros of INV

  • For onboarding masses to Steem blockchain, INV can be very much useful & easy.
  • The steem users can delegate their SP & PAL and keep on mining INV tokens every week & stack it for future use.
  • The best part of INV token is that it can also be traded in Steem-engine apart from creating a steem account. So it can be interesting for all types of users.
  • There are no restrictions on delegation. Anyone can delegate any amount of SP to steem.ninja and can mine INV tokens every week.
  • When the steem price will rise, then creating an account with fiat may become relatively costly, but INV will always remain cost-effective.

Cons of INV

  • Steem.ninja has simply mentioned the next payout date in their official page. For example, 21st July is the next payout date. It would be better if they would also specify that for 21st July payout, the cutoff date of delegation is xx/xx/xxxx.

  • Upper cap for delegation will look better.

Conclusion

Bringing INV tokens to the Steem ecosystem and using delegation functions appropriately to create Steem account and also enabling users to utilize it in various ways is something unique about Steem.ninja. I think INV token can address the common issues of steem account creation and it can give a free hand to the steem users to utilize it in their way. The democratic principle is enhanced with INV tokens. For sub-communities INV tokens can prove handy for onboarding masses.

Disclaimer

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.


Image Courtesy:-

Steem.ninja resources

Useful Links:-

(1) https://steemit.com/invite/@oracle-d/community-feedback-inv-tokens-trading-live-on-steem-engine

(2) https://steemit.com/steemninja/@steem.ninja/enabling-invite-mining-through-pal-delegation

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