Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

Member rshares Balances

When an account is enrolled in Steem Basic Income, we begin tracking an rshares balance for that member. rshares are the unit that Steem uses to calculate rewards. Whenever you upvote, the witness checks your VP% and SP to calculate how many rshares your upvote is worth. This is the actual value used to track your upvote values on Steem, and the method that Steem Basic Income uses to track your pending upvote value.

Value Sources

There are currently three sources of value that contribute to each member's pending upvote value. How each source works is more fully described in our FAQ, but the sources are Standard Units, Bonus Units, and Upvoting Rewards.

Pending Value

Picture separate water sources that fill a pending vote tank for each member. The flow from each source into the tank is dependent on enrollment level, delegation, or pattern of upvoting SBI. Increasing your enrollment or delegation will immediately increase the size of that source, and therefore the rate at which it contributes value to the tank.

It still takes time for the rate change to impact the total pending value in the tank.

Value Delivery

To prevent 'dust' penalties, the minimum upvote we deliver is $0.02 per post, and we will only deliver up to 33% of pending value at a time. Each time a member posts, we check their rshares balance, and open the 'valve' if their pending value is large enough to support a minimum upvote. This is calculated at the low end of the CLRC curve, so most upvotes will be larger than $0.02, even if delivered as a 'minimum upvote'.

Voting Accounts

When the valve is opened, one of our voting accounts is activated to deliver the upvote. We select the highest VP account that can deliver the entire upvote size. If no account can deliver enough rshares to fulfill the vote, we vote from as many accounts as it takes to deliver the whole value. If we vote from all ten and still can't deliver the value, the valve closes and only the amount we can deliver is removed from the tank.

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Recommended SBI Levels

Note: this section is not financial advice, but could help you have a better SBI experience.

We recommend that you target $3 worth of SBI for a weekly upvote, or $20 worth for a daily upvote. (Divide 20 by STEEM price in USD to estimate SBI total needed). Lower subscription levels will still receive regular upvotes, but they will be less frequent.

Increasing your SBI subscription (or any of the three sources) increases your upvote frequency. Once your subscription is high enough for your tank refill rate to power an upvote on every post, then increasing your subscription (or any of the three sources) will increase your upvote sizes instead.

Value Estimates

These charts can help you better predict your results from various combinations of enrollment, delegation, and regular upvoting. They are based on current STEEM prices and reward pool behavior. Their predictive ability is limited as STEEM prices and reward pool behavior are constantly changing. The calculations assume upvotes are valued at post payout at the bottom of the CLRC. That means the estimates are conservative; most members will have a better experience than shown.

Click here for value estimate charts

To be explicitly clear, Steem Basic Income is a completely voluntary subscription-based upvoting service. Your own behavior (or external factors) may change the total values, and you will get results that are different than you expect.

To facilitate doing your own calculations, we publish the weekly STU's per unit every week in our weekly delegation report.

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Enrollment

Send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian, except for your own account.

If you're unclear, please check out our full transaction memo guidelines.

The official currency for enrollment is STEEM.

Questions?

Please check out our Helpful Resources page and read our FAQ. Most questions are addressed in these resources. If you still have questions, ask in the comments section or join us in our discord channel.

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