It's my pleasure to notify us of this very important program ongoing in the Steemit community. It is called #club5050 which some of us must have heard in the Steemitblog as announced through the Steemit Cryptocurrency Academy posts.
(Designed in Canva)
Why the introduction of #Club5050
Over recent times we have noticed that the price value of Steem has continued to hover below the corresponding Altcoin incremental indices vis-a-vis the bull run observed in the price value of the Lead coin_Bitcoin.
There was no other justification for this if not the excess Liquidity distributed in the ecosystem. The Steem Blockchain upholds a Liquidity ratio of 25% for PoB in a given post payout but we observed an over 80% ratio which is about 300% over the initial peg.
Just as we know in the law of demand and supply which skews the price value of any asset given to its demand or Supply scenarios. In this case, we have Excess Liquidity in the ecosystem and hence the price devaluation of our dear Steem due to excess Supply.
Most importantly, we observed that the pegged ratio of 1 SBD: 1USDT in the Steemit Blockchain has no corresponding value with external sources which sees 1SBD measuring up to 7.50 USDT and hence making the conversion rate between 1SBD to Steem very far apart. (12steem = 1SBD)
Solution Anticipated from Club5050
The introduction of #Club5050 is a concept geared toward powering up 50% of every post payout in the community. What is targeted here is the SBD payout which should be converted to Steem and hence powered up.
This would help reduce by 50% the excess flow of Steem outside the Steem Blockchain to curb excess Liquidity of assets in Exchange platforms which invariably has a negative price value effect on dear assets.
Benefits of Powering-Up & #Club5050
- Steem Power up improves the community Influence especially during Curation activities
- Powering up also attracts #steemcurator01 and #steemcurator02 extra voting rewards for those who strictly use the club5050 guidelines.
- It would re-adjust and correct the skewed reward system back to its 25% liquid rewards.
Effects of Non-Adherence to #Club5050
- Loss of additional voting rewards from the curating team
- Continued excess distribution of liquid steem in the cryptocurrency space which brings about loss of asset value
- Unbalanced distribution of reward the community and with the author favored more.
What do I need to do now
- Power up at least 50% of every post payout
- You don't need to make a special post for any of this Power-ups
- Endeavour to include the hashtag #club5050 in your post.
Thank you, guys, as you participate.
MODs, you can mention more of our members here for an intentional outreach