Introducing Proof of Stake Rewards with Creative Coin!

creativecoin in #creativecoin • 4 years ago

Proof Of Stake

We have some exciting news for the Creative Coin community. We are going to be implementing Proof of Stake rewards.
So what exactly does this mean?
In short, you will be rewarded for the CCC that you have staked. Staking your CCC will now be beneficial to you in more ways than just curation rewards!

Powering up (staking) gives a user more influence on the platform. As you power up your CCC stake in the Creative Coin tribe, you are able to reward posts with more CCC, and in turn, you receive more CCC for curating.
And now with the implementation of POS you will be rewarded for staking as well!

Where are the POS rewards coming from?

We are going to be lowering the Proof of Brain (POB) rewards by 5%, making POB 70% of the reward pool. We will also be lowering the Management Team percentage by 5% as well. This will allow for POS to generate 10% of the rewards from the pool.

Distribution Overview:

Proof of Brain: 70%
Mining: 15%
Proof of Stake: 10%
Management Team: 5%

We understand that the two accounts, @creativecoin and @notcreative, will be generating POS rewards each day as well. The POS rewards of both of those accounts will be sent to @null and BURNED each week to prevent those accounts from growing larger due to the POS rewards.

When will POS be implemented?

We want to make sure everyone is aware of this change and give people a chance to stake so we will be implementing POS in about a week.

Why add POS Rewards?

We have several things in development for the future of the Creative Coin tribe. It would be in people's best interest to hold onto their CCC because there will more utility for the token.

We understand that for a project to thrive, it needs a healthy economy, where there are a good amount of buyers and sellers. When people have more incentive to stake their tokens and can earn from their stake in more ways than just one, that will add more value to each CCC that you hold. One way to look at your wallet is a savings account with multiple ways that you are earning passive income that you can spend in a marketplace if one were being developed...

Thank you all

Thank you all to those that are using the #creativecoin tag with your posts. Our curators love seeing the amazing content that you are sharing. There are so many amazingly talented people here. Keep up the great work that you are all doing.

#palnet #sonicgroove #neoxian #tribes #creativity #art #music #poetry

4 years ago in #creativecoin by creativecoin

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qwerrie 4 years ago (edited)

sounds very nice to me. I am not a big fish, but already have staked 7k and not going to stop or dump it.

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3 votes

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nathen007 4 years ago

I wish you luck with this. It's so nice to see new and innovative ideas to keep tokens in the ecosystem and encourage saving. Glad I've got my 5k tucked away now!

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3 votes

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fraenk 4 years ago

great move and commendable signal to take half of the new POS reward from the mngmt rewards... chapeau!

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4 votes

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curatorcat 4 years ago

It's really nice to see how proactive this tribe is, and how there is active management here! I think that speaks volumes for all of you, and bodes well for the future of all of us who are part of it!

=^..^=

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3 votes

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soyrosa 4 years ago

That's exciting news! I love how our Tribe is experimenting - (as far as I know) the first Tribe to openly announce their would be no bidbot, and now this :-) Curious to see how it works out and if it gets people to HODL. I coincidentally powered up about 500 CCC today ;-)

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3 votes

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xplosive 4 years ago

I think that this is encouraging people to stake their CCC.
Or at least me. Now I am seriously staking CCC. Even in small amounts. Actually this encouraged me to stake all of my CCC. I had 0.3269 staked. I staked 0.8802 CCC a few seconds ago, and now I have 1.2071 staked CCC.

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2 votes

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derangedvisions 4 years ago

There is a bit more.

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qwerrie 4 years ago

wow! constant efforts give constant results, as one of my steemian friends use to say. I was doing the same: stacked, stacked and stacked more. and then have bought 6k. profit!

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qwerrie 4 years ago

what is HODL, @soyrosa?

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1 vote

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soyrosa 4 years ago (edited)

HODL is a well-known term in crypto/amongst crypto lovers. It is used instead of 'Hold' - Hold On for Dear Life. It has a funny background story if you're interested :-)

https://www.investopedia.com/terms/h/hodl.asp

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1 vote

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qwerrie 4 years ago

i will check the link, thanks a lot. I am intrested in knowing how the world around is organized, being reflected thru the prizm of language.

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oivas 4 years ago

While you are at it, look up for SPUD and FUD too.. 😊

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amberyooper 4 years ago

It will be interesting to see how this develops, and what results from it.

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2 votes

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chunkysoupsvc 4 years ago

This is a project Ive been following a bit and I am glad to see POS implemented.

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lenaspiritual 4 years ago

I will stake all my coins, sounds very promising.

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yonilkar 4 years ago

Very nice, I'll start creating amazing content.

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atomcollector 4 years ago

Fantastic stuff! Love seeing all this innovation going on.

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paintingangels 4 years ago

Be vampires!

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paintingangels 4 years ago

No wait
KILL VAMPIRES

Get it? Because stake? I need coffee, obviously, and a better psychiatrist.

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2 votes

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isaria I Like Kitties 4 years ago

We will be implementing POV next
PROOF OF VAMPIRES

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riverflows 4 years ago

Ha, love it x

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oheyo 4 years ago

!BEER

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paintingangels 4 years ago

YAY!

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steemitboard 4 years ago

Congratulations @creativecoin! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You received more than 3000 upvotes. Your next target is to reach 4000 upvotes.

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

Do not miss the last post from @steemitboard:

SteemitBoard supports the SteemFest⁴ Travel Reimbursement Fund.

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

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cryptomaniacsgr 4 years ago

That sounds great!

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abh12345.ccoin 4 years ago

As a rare poster with #creativecoin, I am pretty happy with this news, cheers!

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oivas 4 years ago

That's good news.. Good initiative for people who have staked or will be staking in the future. 😊

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betterthanhome 4 years ago

ok now this sounds good. I´m going to stake my other 500CCC as well now. :)

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luigi-the-gnome 4 years ago

We already stake it all since the first CCC, so this are great news indeed ! ;-) !

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alokkumar121 4 years ago

This is great news and I am going to stake my CCC coin now. Thanks.

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newenx 4 years ago

Sounds amazing, keep up the great work! I was staking already :D

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pibara 4 years ago

Damn, this news is just a tiny bit too early for me right now. I was just powering down 250 STEEM in a few days to try and buy an extra 10k to get my 100% vote above 50 CCC again, now not only is the prize way up because of this news, half of the sell part of the order book is gone as well. Guess for now I'll just drop in a buy order somewhere and see where the market goes from here over the next week or so.

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airiam 4 years ago

I was just stacking for the sake of stacking (because I can actually support others by stacking CCC and voting in this tribe without being a big fish -looks at steemit >_>-), but this is good news. I like your proactivity! Going strong, creative.

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helpiecake 4 years ago

Hello!

This post has been manually curated, resteemed
and gifted with some virtually delicious cake
from the @helpiecake curation team!

Much love to you from all of us at @helpie!
Keep up the great work!

♥♥♥
Manually curated by @paintingangels.

_{@helpie is a Community Witness.

For more information about our project,

please visit this month’s UPDATE post.}

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steemit-life 4 years ago

Very nice! This will give an incentive for more people to hold their coins. How many total Creative Coins will there ever be, and over what amount of time (months/years) they will be dispersed?

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tratraart 4 years ago

Great! I'm in! :D

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chireerocks 4 years ago

@creativecoin, I really want to welcome this decision team and when Token Holders are empowered then in my opinion this Ecosystem can see more extended levels of actions on this Ecosystem. Keep up the good work team and wishing you productive results ahead.

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philiprenelee 4 years ago

We don't really understand this idea at the moment, but we always will welcome more rewards.

Right now is just slowly building our stake.

But we do have one question

What happens to the people who sacrificed their staked CCC and delegated to our account so that we can enjoy rewarding good contents of the people we follow?

Regards
Philip and Rene

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