This exercise is based on a fictitious blogging app called doge.blog built on the Steem blockchain. It would be similar to the Tribes in that it uses the open source Steemit condenser, but with the following modifications:
The incorporation of a Dogecoin Wallet, which would allow you to deposit and withdraw DOGE from the app
Create a developers' DOGE wallet address where all DOGE are stored for the purposes of withdraws
Create a transaction - Custom JSON - that would record user DOGE addresses and deposits of DOGE into the system, which would then enable the blockchain to simulate those DOGE within the Steem system
Create code for the transferring, withdrawing and powering up of those simulated DOGE, all as Custom JSONs
Create a staking feature that would allow you to Power Up your simulated DOGE into DOGE POWER, much like we already have within the Steem system
DOGE POWER does not gain interest, but allows you to upvote posts and comments
All upvotes have a fixed value of 1% of the total DOGE POWER (DP) in your account, so someone with 100 DP would have an upvote equal to 1 DOGE
Author posts and comments will generate an automatic self-vote
All upvotes, whether Author or Curator, will transfer DOGE from your stake to the reward pool of the post or comment; so with the previous example, the 100 DP upvote would transfer 1 DOGE to the reward pool of the post, causing that user's DOGE POWER to reduce to 99 DP, and the post receiving the value of 1 DOGE; this also applies to the Author's self vote
Reward distribution occurs after 7 days, like Steemit, but would be a 10/90 system, where 10% of the reward pool goes to the Author, and the remaining 90% would be spread out equally amongst all Curators, irregardless of what DOGE POWER they contributed to the reward pool
If the post or comment does not receive any curation upvotes, all rewards are returned to the Author
Power Down is set at 8 weeks
You cannot delegate your DOGE POWER
All DOGE or DOGE POWER is displayed with 8 decimal places
You must have a Steem account to use this app
Let us begin the 1st Round of our experiment!
Staking
User A | 1000.00000000 |
User B | 500.00000000 |
User C | 0.00000000 |
Actions
User A | Post | 990.00000000 | 10.00000000 |
User B | Vote | 495.00000000 | 5.00000000 |
User C | Vote | 0.00000000 | 0.00000000 |
Total | 15.00000000 |
Reward Distribution After 7 Days
User A | 1.50000000 | 991.50000000 |
User B | 6.75000000 | 501.75000000 |
User C | 6.75000000 | 6.75000000 |
Questions:
As User A, would you be upset that you took a loss in your DOGE POWER, and perhaps Power Down and leave? Or would you be willing to overlook that loss knowing that your curators gained in DOGE POWER, and would be more likely to vote on you again in the future?
As User B, would you be upset that User C gained more DOGE POWER, percentage-wise, even though User C provided less than you to the reward pool? And seeing that User A took a loss in this Round, would you be reluctant to post?
As User C, would you be excited about the rewards you gained, and perhaps willing to promote the doge.blog app to your friends? Would you be willing to invest some DOGE of your own, seeing the excellent gains you made? And seeing that User A took a loss in this Round, would you be reluctant to post?