Introducing the Minnowsupport tokenized bid system for community Upvotes!

in minnowsupport •  5 months ago  (edited)

PAL_image1_onblue_small.jpg
Credit @elgecko

There have been some exciting changes in the last few days, we now have PAL coin our brand-new token and also PALNet.io which is a Nitrous instance of Condenser. For more information please read the PALnet White Paper or a simplified version here.

You may have noticed that we closed our Community Upvote channel a few days ago as we are moving to a new system of rewards. Previously, registered members could type a command and recieve an upvote from the minnowsupport account. The new system is ready to go so here are the details!

plcoin-onblack_gif.gif
Credit @elgecko

How it works

As you will recall from our White Paper Palcoin Launch: A revised whitepaper and token launch by the Minnow Support Project this token offers multiple features:

Token Redemption (sinks)

Tokens can initially be redeemed for 1 of three things: upvotes, advertisements, and customizations.

Upvotes - The main account, @minnowsupport, currently allows anyone in the Discord community to use a command $upvote, and receive a low percentage vote on a post. After a year of trying to manage this we're still concerned that it leads to low quality posting. We'd like to continue to encourage posting, but we're attempting through this process to increase the quality.

Going forward users can exchange palcoin they receive for upvotes from @minnowsupport. The ability to store and use PALcoin later decreases the need to burn votes on a timer, which puts pressure to put out content on a schedule rather than when quality content is written. The goal remains the same of getting new users and active discord community members to post, but this approach we think will incentivize higher quality content.

A portion of the tokens received by the voting bot will be used to offset new inflation. A portion of the tokens will be distributed to delegators. To clarify, any SP owned by minnowsupport is stored to be issued as inflation instead of issuing new tokens. Any SP delegated to the bot will receive a portion of the daily PALcoin earnings relative to the percent on the bot.

Things to Know about the New Service

Community Standards

Please keep in mind The Minnow Support Project and PALnet community Standards to use this service, you can read Minnow Support Project Community Standards- "The Spirit of MSP" to know what posts are ok to use the service on. Failure to comply with community standards will result in an non-refundable vote removal.

Here Is A Helpful Guide on How To Get Unmuted By The Minnow Support Project
I've been muted by Minnowsupport, what should I do? Simple Edition

How to redeem tokens for Upvotes

You have 3 options

1. Steem-Engine (using Keychain)

SE upvote 1.png

In your Steem-Engine wallet you will see the icon to send your tokens as seen in the picture above, click this.

SE upvote 2.png

In the TO field type minnowsupport, the amount can not be less than 1PAL. In the memo add The URL of the post you want upvoted

SE upvote 3.png

After you have filled all the fields and click send, Key Chain will ask to confirm the transaction.

SE upvote 4.png

As you can see in the picture above you will receive a confirmation message of the operation and you are done!


2. From Your palnet.io wallet

Go to your wallet in PALNet.io (palnet.io/@YourUserHere/transfers) and in PAL balance there is a down arrow. Clicking this will open a dropdown menu. One of the options is "Transfer", click this.
wallet upvote 1.png

It will show you a window, fill in the required fields as follows:

To: minnowsupport, Amount: any amount but no less than 1 PAL, Memo: URL of link you want upvoted, see the example below.

wallet upvote 2.png

wallet upvote 3.png

You will need to confirm the transaction on PALNet.io

wallet upvote 4.png

And then confirm it also with Keychain (if you are using Keychain to login to Palnet.io) and you are done!


3. Using Keychain

This option is very handy as you can do this from the extension and it doesn’t matter what web page you are browsing at the moment.

You just click the extension, then Token on the bottom left corner.

KC Upvote 1.png

You will see the list of all the tokens you own, find the PAL token. Click the send icon (small arrow), next fill in the fields To: minnowsupport, Amount: any amount but no less than 1 PAL, Memo: the URL of the Post you want upvoted. Click send and you are done! You will be able to see the confirmation message at the bottom of the extension (see image below).

KC upvote 2.png


It doesn't matter what method you use to transfer your PAL Coins, you can always can check your history in your palnet wallet.

wallet.png

Final tips

  • Please note that the @minnowsupport account has no staked PAL which means the upvote delivered will only earn you steem/sbd rewards.
  • You will not receive any PAL coins and this won't help you trend on palnet.io! Use the palnet promote feature if that is what you want!
  • If the bid window is full, your request will move into the next window. If that is also full you will be refunded.
  • Do not send posts over 3.5 days old!
  • Please remember that 1 PAL is the minimum and don't forget to include your URL in the memo
  • The minnowsupport moderation team reserves the right to mute any accounts repeatedly using this service on low quality/effort posts
  • Muted accounts will have future vote purchases refunded

Have any questions about PALNet, PALCoin or the Claim Drop?

here a few recommended post to help you out:


Thank you very much for reading,
-Minnow Support Moderation Team!

We will be answering whatever questions you have about the whole process so please ask away in the comments or reach us out in the channel #MinnowSupport-Help of our Discord Server*


If you are not yet in the community what are you waiting for?? CLICK below!!!

banner created by @justcallmemyth
first image and gif lovingly donated by @elgeko


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I seriously need to get PAL token. Well done, guys.

Can you share already what is the value of an upvote for 1 PAL? How will this be calculated?

Posted using Partiko Android

To view or trade BEER go to steem-engine.com.

Hey @steemmillionaire, here is your BEER token. Enjoy it!

I need some beer please!

Posted using Partiko Android

"Try and observe the result" could be the answer? 😜

Cheers & !BEER 🍻

Posted using Partiko Android

To view or trade BEER go to steem-engine.com.

Hey @steemmillionaire, here is your BEER token. Enjoy it!

PAL paid to the bot is distributed back to the delegators. Consider delegating if you'd like a steady supply of PAL.

So finally you can sell upvotes!

Im so glad

Yeah, and it took less than a week! So much for doing things differently or better. Just clone, rinse, and repeat here in cryptoland.

Well it is a proven model isn't it :(

Parece más de lo mismo, ¿no? Creí que iba a leer algo en relación a cómo iban a hacer para premiar el buen contenido, para batallar contra el spam...

Eso nunca ha estado sus planes, desde el principio es una trampa caza bobos para acumulumar proxy votes y que la gente delegue bajo la excusa de hacer crecer a los pequeños...

Ahora bien, ¿no te parece que se podría hacer algo como esto pero con ese fin? Lo que imagino es una suerte de Steemit paralela a Steemit en el propio Steemit (en eso tal como lo ha pensado Palnet), pero que busque ser la parte verdaderamente social y sana de Steemit, que entre otras cosas no se peudan usar bots de voto, que se fiscalice allí el contenido y los usuarios para evitar las malas prácticas, que se incentive a leer y comentar... Incluso se podría ver acaso la manera de que la ganancia incorpore esto de la cantidad de votos obtenidos (los cuales deberían ser manuales, claro, nada de bots)...

  ·  5 months ago Reveal Comment

How much portion?

Proportional to the % of delegated stake.

Thats cool..i will have to delegate.

Posted using Partiko Android

Will distribution take place on daily basis or weekly?

It's weekly while PAL does not reward decimal values.

Delegated PAL or SP?

How do we delegate PAL if that is possible?

Only SP, as @minnowsupport is not intended to reward in PALcoin.

Am I correct in assuming this doesn’t affect votes from minnowsupport that come from delegation? Just the old upvote not that was in the discord server?

wow super updates, weldone all pal team

This is a really amazing project. Thank you so much for the project. I am very happy.

Good idea !
GodSpeeeeeeed ! 💙 ♩♬

Posted using Partiko Android

This will be like the old system but you can trade your coins instead pf waiting every 30 hours? This will be a problem since I struggle to earn.

Posted using Partiko Android

We have implemented many faucets (ways to earn) specifically for this. Don't like to post? You can curate to earn rewards. Don't like to post or curate? You can chat in the PAL Discord to earn. Don't like to post, curate, or chat? You can purchase and stake either the PALM or PALMM mining tokens to mine PAL passively.

I like to post but my posts don't earn. They go unnoticed.

Posted using Partiko Android

like all posts in steemit that are not about playing or promoting dapps.

Hola como hago la mineria de palm

So how big of an upvote can 1 PAL get us ?

Minnowsupport votes at $2.72 every 2.4 hours. If the round isn't full it'll do a partial round and caps you're earnings at 10% gain from the vote also makes sure your vote isn't at a loss of more than 10%.

What reference price for PAL is being used to set the +/- 10% range?

last? bid? ask? 24 hr volume weighted average price?

So basically you can get lucky and earn 10% or be unlucky and lose 10% or you get something inbetween.

Very helpful post and maybe a chance for me to get a grip on how to use these tokens. Thanks very much @minnowsupport, much appreciated :)

Is the delegation also valid for other PAL bots or only for this one?

That was sooner then expected... great one and thanks ....

News news news. Keep them coming 👍

Posted using Partiko Android

  ·  4 months ago (edited)

I can't access to Steem Engine, after typing my Steemit username and my password the page returns me to the beginning, what do I do in that case?

Thanks for introducing a good system.

I have a question.

PALMM is not digging for 2 days. Is there a problem with your system?

you need to stake them

I have already staked a week ago

Looking good... just need to get some pal tokens

  ·  5 months ago (edited)

😁 Delegating SP or purchasing PALM/PALMM? 🤔 This is the question... 🙄

The answer could be: BOTH! 😍

Enjoy a !BEER 🍻 token, @minnowsupport! 😜

(Resteemed)

To view or trade BEER go to steem-engine.com.

Hey @minnowsupport, here is your BEER token. Enjoy it!

So excited for this! This tool is the key to our success imo. A genuine sink to pin our value back to STEEM

A new era is with us. PAL staking for the two ends upvotes would have served better. Waiting to see how it goes.

Nice post, thanks you information

I'm currently staking 565 pal. I get a zero pal after 100% voting.
Check Please.

https://www.palnet.io/sct/@banguri/snv5n-sct-aaa-or

We are aware of this problem, and it's our top priority to fix it. We will be adding decimal precision ASAP.

on steem-engine part of your tutorial, change account name letters to small. MinnowSupport -> minnowsupport

Could I get permission to translate this post into the Indonesian language?

Uh!!! What just happened!!?? I upvoted and a counter on your post went DOWN??? How??
Edit: all good , checked on another post , it went up... hmmm ( glitch???)

do we still have to wait for the 30 hrs. cool down like the old msp voting system?
anyways, I really like the new MSP gif logo. Looks so modern and cool!

thanks for the update and More power @minnowsupport!

  ·  5 months ago (edited)

Hello.
Please, if can you tell me what are the measures that you will be taken to favor and grow the good users, who contribute quality content and interact healthy with the platform? And which ones to fight against bad practices, abuses, plagiarism, automatic voting, etc.?

Hi! Yestarday I sent 11 PAl with memo my post and nothing.

You sent 11 PAL to splinterlands.

🙈 😀Thank you

Posted using Partiko Android

Good deal here, what does one stand to get as upvote if 1 PAL is sent?
What' the ROI on bidding PAL?

I was hoping if someone can give me a Discord Link to the Minnowsupport Group. The above link says that it is Expired.

Can someone help me?

@minnowsupport look like I cant join in Discord PAL, is there something wrong or I I've been banned there.

Hi @aggroed, where I can read more about PAL?

Thank you for Your help.

Hello, I would like to understand how curators work, if I have PAL power, and vote in posts tagged palnet, then I get curation rewards in PAL coins? Is it possible to receive fractions, for example 0.5 PAL, etc?

Am i also banned from this too because @shane decided he just didnt like em and confused somethinG i said, banning me for no reason? hmmm interesting system you have

especially after i actively brought EOSvenezuela cryptopeso and Anox.io ANX to Steem-engien and Palnet for MSP radio show talks... weird that the guy who brought these communities here gets banned for and isnt allowed to come listen....

I just joined @minnowsupport on discord only to get the notification that the community is closed. Nice one... why don't you close the community for new registration and direct people to your new service, which is not what I signed for....

  ·  5 months ago Reveal Comment

yep, already is.

Thanks for this information.. Now I know what to do with my pal tokens