PalCoin / Palnet SupportsteemCreated with Sketch.

in we-are •  10 months ago  (edited)

This post outlines @we-are 's support for PALCoin. @we-are supports content creators by free community based upvotes.

Cranes on the Singapore skyline
(Source: Pixabay / cegoh CC0)

STATUS: Currently upvoting 1500+ users with 20+ voting accounts that collectively control over 10000 SP and 4300 PALPOWER.

The current hype on the blockchain is the launch of PALCoin and its distribution via claim drop. PALCoin has community goals that overlap those of @we-are. It seems natural that @we-are supports PALCoin and so this post outlines what this support looks like.

Some technical background to PALCoin; PALCoin operates similarly to STEEM / STEEM POWER in that PALCoin can be staked/powered up to yield PALPOWER. When an account that has PALPOWER upvotes a post with a #palnet tag then that post will be rewarded PALCoin (or PALPOWER, I'm not too sure but either way, it's a reward). The upvote consumes VP as per usual. It appears that upvoting posts without the #palnet tag with an account that has a lot of PALPOWER is a waste of VP. From the perspective of @we-are, it makes sense to separate out the holdings of SP and PALPOWER so that the PALPOWERed accounts are only upvoting posts that have the #palnet tag.

Introducing @we-are-palcoin.

@we-are-palcoin account is the preferred place for @we-are to hold PALPOWER for now. To date, it has over 4300 PALPOWER donated from accounts in the claimdrop. I have already modified the @we-are system and it has begun upvoting new posts that have the #palnet tag. The @we-are-palcoin voter is not community specific so if you are a member of any @we-are community then your palnet posts are eligible for free upvotes. I have set the initial voting strength range to between 10% - 25% VP, to promote a good reward distribution of PALCOIN to many accounts. The voting strength range may change as we see how things progress.

If you want to help, then feel free to donate PALCOIN to @we-are-palcoin. Once @steem-engine allows delegations, then you could also delegate some PALPOWER to @we-are-palcoin. If you do donate, please post a comment below and mention @eturnerx so that I get a notification because I have not yet automated PALCOIN staking.

You might be asking about other steem-engine tokens or more targetted PALCOIN support for @we-are communities: these things are all possible. If you have a particular community in mind and can pledge a delegation/donation of PALCOIN then I'm happy to put the work in to make a PALCOIN voter specific to your community/ies.

Together @we-are,
-- @eturnerx

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hi @we-are-one

I wonder what's your experience with PAL and LEO tody. Two months later. Mind sharing it with us?

Yours
Piotr