This post will be broken down into multiple sections that will describe the functionality of this particular account as briefly outlined here
. "Another support account?" Yes, sort of. This was set up roughly the same time as @dreemsavingsfund
and has been quietly sitting idle for the better half of 6 months. Since @dreemsteem
is going to be powering down that account in a month, it is deemed necessary to maintain a fund specifically for allied functions.
Functions can be defined as anything from (and most significantly) The Block Party, loans (small to begin with through trusted channels), savings for any family members and even voted and agreed upon donation and investment efforts. The sky is the limit when it comes to a 'bank' and all the applications it can have. Most importantly at this time, it is to fill the void that will be left once the little piggy bank is cracked open from Dreemy.
Accounting At Its Finest
As we all know, Witty's math is about as good as Jar-Jar Binks' connection to the Force. He no math good. LMAO! However, this account will be monitored daily along with all of our other ones to make sure nothing suspicious is going on. To slightly enhance security, no liquid will be readily available in the account as it will either be powered up or sent to the vault. This will also cue us to take notice of anyone contributing to the efforts we are making to further The Alliance Family unity on a global scale. We want to come to India, Venezuela, Ireland, Australia, Africa, from the North to the South Pole - we want to be there!
There are multiple ways any of you can contribute (though, family members will have priority status in all dealings), and this is where memos in transactions will be relied upon. Communication is key to any successful relationship - especially with your bank! Not all contributing factors will require a memo, as not all allow you to. There are three major ways to assist us and here is a fairly complete list of ways you can help with The Block Party and other future undertakings:
Steem Backed Dollars (SBD) have become increasingly harder to come by since the price of Steem has fallen beyond a lovely level. With that in mind, anyone that deposits (transfers) a total of 100 SBD will be given priority for our curation efforts. SBD contributions will be given 2 options - deposit or power up that must
be included in the memo field. You will be considered our 'Gold Members', HA! Any transaction sent with an undefined memo will be assumed to be a donation to our cause(s) and powered up.
Now really is the time to stack the fire out of your Steem. It is given out hand over foot in comparison to the levels of SBD earned on a post or comment. Since it is easier to come by, we will lower the bar a little bit and accept deposits (transfers) in Steem and ones that ultimately total 500 Steem, will fall right behind the 'Gold Members' as our 'Silver Members' in our curation efforts. As with the SBD, if unspecified in a memo, it will be assumed the Steem is to be powered up on the account and meant as a donation for our efforts.
's favorite word - delegation, delegation, delegation!
HA! This is when someone takes some of their hard earned powered-up stake and lets us borrow it for an undisclosed amount of time. @enginewitty
is the first Red Member and has already kicked it off already. That delegation will increase substantially once a few others are returned. How much will you add to the pot?
Other Ways To Help Us Grow
- Vote on our posts! This is easy, right??
- Resteem the fire out of our posts!!
- Leave us some comments!!!
- Join our curation trail !
- Make @thealliancebank beneficiaries on your posts!
- Tweet it, Link it, FB it, Tumbl it - spread the word!
- Delegate or send tokens from steem-engine!
- Just talk about it :)
You Mentioned 'Curation Efforts'?
Ah yes, our Gold, Silver and Red members (as they come) will be curated in a couple different ways. Until a person reaches the threshold of either the silver or gold level, they will be considered 'Red'. Since no one has contributed yet, for sake of not letting this account sit idle, it will be voting 100% on all the people that deposited funds into Dreemy's piggy. This will change as we progress and we will keep you updated with members and their tiers. Posts will be issued on a regular basis to highlight members' blogs as well.
What About Withdrawals?
So glad you asked. This is a bank after all, and we're keeping your coin. You are allowed to withdraw your deposits or rescind your delegations at any time you wish. However, if you decide to withdraw anything powered up prior to a community consented power down, you will forfeit any curation rewards built up by the account you may be entitled to and will still have to wait the 13 weeks it takes to power down to get your funds. If you sent SBD to power up, you will be returned the Steem equivalent at the time of that power up. This will prevent any abuse of the bank's holdings.
Anything somebody has in the vault/savings account, is subject to the 3 day waiting period for withdrawals before funds can be transferred back to you. There will be no penalty for this as it is simply sitting there minding its own business. The benefit to having funds in the vault, is the quick withdrawal time. You never know when we might have an emergency or need to help someone!
Out of Sight, Out of Mind
You may be asking yourselves, why the hell would I want you to keep any of my 'money'? There is an old saying, "out of sight, out of mind", that generally applies to children and their toys. However, this also applies to us. If we keep our 'stash' somewhere we don't see it every day, it is less likely we will spend it on candy or gum.
There is also the matter of curation rewards and dividends that will ultimately be paid out to members as this grows as well. During any consented power down, your percent of curation will be directly reflected by your total deposit. It would not be fair to give someone that deposited 2000 Steem the same as someone that only deposited 25. One could consider it an investment, but we aren't there yet. All will be revealed as time goes on. They don't call him for Witty nothing.
What Are You Waiting For!
The Block Party 2020 will be here before you know it, so we have got to hustle, hustle, hustle! I know Christmas and various holidays are right around the corner, so money may be tight, but it is the spirit of giving, am I right! Below, you will find some useful links like how to find the Castle to talk to Witty if you have any questions. STeeM oN all you lovely people!
Come visit with us in The Castle!
Join @thealliancebank's curation trail!
Easy Delegation Links for the Bank!
50SP - 100SP - 500SP - 1000SP - 5000SP - 10,000SP - 50,000SP