After the recent Hardfork(s), we updated our Terms of Service for MinnowBooster, but it quickly became clear that that would not be sufficient.
The community is re-orienting itself more towards curation, which is how it should have been the whole time, so we want to support that too.
Promotion not Profit
The name MinnowBooster already shows the original intention of the post-promotion service: We wanted to provide an option to boost minnows. If you purchase promotion for your post, you draw attention to it, and this promotion is what you pay for. The intention should be to get visibility for your post, not to pay for promotion to profit from it! In contrast to bid bots, MinnowBooster has always let you know what you will receive for the money you spend and has always been transparent in that regard.
To reinforce the sentiment of Promotion, Not Profit, we are introducing some changes to the process of purchasing promotion from MinnowBooster, effective approximately 12 hours from this post.
The changes will be as follows:
From the amount you transfer to Minnowbooster,
- 5% will be automatically sent to @null and thus burnt, decreasing overall Steem supply.
- 5% will be automatically sent to @steem.dao, supporting development on the Steem blockchain.
- The remaining 90% will be used to purchase your promotion.
MinnowBooster's quality standards and ToS still apply to promoted posts and will be enforced.
5% Burn Reduction on Liquid Payouts
At the moment, vote sellers and delegators receive a liquid payout that they can withdraw from the virtual MinnowBooster wallet into their Steem wallet, circumventing the Liquid/STEEM POWER split that's happening with a post payout.
To reduce the impact of this, we're making changes here too:
- If you withdraw STEEM or SBD from your virtual Minnowbooster wallet into your Steem wallet, 5% will be sent to @null.
- Because of this change, currently active automatic withdrawals will be halted until you turn them back on manually.
- If you purchase a vote from your balance, only the previously 5% to @null and 5% to @steem.dao are deducted. It makes sense to use your earnings from vote-selling to promote your own posts.
Save other Services
We want to remind everyone that @minnowbooster doesn't exist in a void.
BuildTeam runs several services like TokenBB, GINAbot, Steemvoter Betathat are currently free, except for the premium versions of TokenBB. On top of that, we have our own nodes to not add additional traffic to public nodes.
All of that costs money every month, and MinnowBooster helps cover these costs to a large extent. We are looking forward to a day when the STEEM price is high and other services are profitable, because then we don't have to rely on our promotion service anymore.
Until then, we strive to run @minnowbooster as ethically as possible, just as we always have.
Cooperation for Curation
The @minnowbooster account has a lot of available STEEM POWER and voting power that should not just sit there idle until somebody purchases a vote.
As we don't want to randomly upvote posts and since we don't have the resources to curate high-quality content, we've entered a cooperation with the @steemstem curation project.
SteemSTEM has a team of experienced curators that ensure the quality of the curated posts and check for plagiarism and other kinds of abuse. Their Steem UI steemstem.io showcases the curated posts and is its own interface, not just a Steemit copy.
Furthermore, steemSTEM has a team of ** honour members** who are volunteers that mentor new members, foster community interaction, and help track down abuse.
Overall, the steemSTEM project can be regarded as a valuable part of the Steem blockchain, which is why we will support it with votes from the @minnowbooster account.
More details on how that will work will follow soon in another post.
Summary and Conclusion
Tl:Dr, When you purchase promotion from MinnowBooster, we will first send 5% towards STEEM BURN (@null) and 5% to the @steem.dao, the balance will be used to promote your post. Then on the delegator side, we will deduct 5% upon liquid withdrawl, however, you can use your MinnowBooster balance to pay for further promotion instead and the 5% won't be deducted when you use your MB balance.
That's not all, in addition, MinnowBooster will be donating 5% of its profits from the promotion service to @null to be burned!
MinnowBooster essentially makes it easy for you to be socially responsible with your promotion and it will be very unlikely that your posts will be downvoted for using such a promotion service that benefits the STEEM market by helping reduce circulating currency automatically. However feel free to burn even more by setting @null as beneficiary to your post and really have a chance of being upvoted further by the community, provided your content is of a good standard.
We at BuildTeam are happy to see the community turn more towards curation. MinnowBooster has been one of our first projects, and the intention behind it has always been to give Steemians who aren't already millionaires or part of a closed social circle a way to be seen and have their posts acknowledged by others, to have a voice and not have to beg for votes.
MinnowBooster was never intended to be BuildTeam's only project. We kept on developing new services and took over existing ones that struggled to stay alive, like GINAbot and TokenBB. Our current focus is on these projects, and we're looking forward to a bright future.
( Want an easier way? Use our SteemConnect proxy link! )
Disclaimer: This is a @steemvoter subscription payment post. Thank you to Steemvoter customers for allowing us to use your Steem accounts to upvote this post by virtue of your free subscription to the Steemvoter.com curation automation service. @steemvoter is proudly a @buildteam subsidiary and sister project to @dlease, @tokenbb, @ginabot, @steemsports. @steemsports-es and @minnowbooster.
Beneficiary Declaration: 50% @null BURNPOST!