@minnowbuilder is getting ready to launch within the next week. To give everyone a few days to review the concept and make plans we are going to lay out the concept now. There will be detailed posts coming so keep in mind this is an overview. Watch closely over the next couple days for full details.
The Problem
Getting started on Steemit is hard and those who are committed to producing quality content and building their accounts can use a helping hand. Helping build those minnows takes a commitment of resources including money and time...probably most importantly time.
While many of us would love to have a way to help new steemians to grow to a point of having a vested interest in steemit and help grow a real middle class individually we don't have the resources to make this happen.
At the same time we all are trying to find ways to build out accounts and increase rewards on our posts. Many of us sacrifice some of our growth to help others but by doing so we are hurting our future abilities to help in more meaningful ways.
@minnowbuilder Solution
@minnowbuilder once launched will allow you to not only support manually curated steemians in their growth towards becoming a minnow, but also actually benefit your account at the same time.
@minnowbuilder will allow you to purchase shares or delegated steempower for shares of the @minnowbuilder's daily vote. Each share will allow you to get a single daily upvote from the account and at the same time fund daily upvotes for sponsored steemians in the @minnowbuilder program. The daily upvote will be worth more then if you used the steempower and self voted and is funding the growth of deserving hand picked/curated steemians.
Shares purchased with steem will also have the added benefit of growing in value along with the account. This value growth is owned by those who own shares. Keeping it simple, if there are 1000 shares and there is 1250sp in the account each share will have a value of 1.25 steem no matter what the purchase price was.
2 voting pools
The account will be split into 2 voting pools each with its own calculations for the percentage of upvote. Both pools will be 50% of the account.
The first pool is for those who own share in @minnowbuilder. This voting pool will have equivalent of 500% of total voting power, that is 5 upvotes at 100% power. Votes will be split among the share owners on a daily basis.
The second pool is for those who have been chosen to be in the @minnowbuilder program. The goal of the program will be to Build Minnows, take smaller steemians up to 500sp. This voting pool will also have equivalent of 500% of total voting power, that is 5 upvotes at 100% power. Votes will be split among the share owners on a daily basis. The second pool will be made of steemians who have proven their ability to create original content, show their commitment to growing their accounts, and appear to be legit accounts. As this is part of the @pifc Pay It Forward movement many (if not all) of those selected will come from the efforts of the @pifc community.
Cost per share
Each share of @minnowbuilder will be 1 Steem when the program starts or 2 SteemPower of Delegation.
The cost of a share will increase over time as the account grows giving built in value to those who purchase shares early. This also means that upvote values will increase over time as the incoming steem is used to power up the account, not to lease SP. Feel this is critical long term for guaranteed sustainability.
For the first 2 rounds of share sales, or 1000 share maximum the price per share will stay fixed at 1 steem or 2sp delegated. After this time the price will be recalculated to match the value of current shares.
Using the previous example:
Keeping it simple, if there are 1000 shares and there is 1250sp in the account each share will have a value of 1.25 steem no matter what the purchase price was.
If we start up round three with each share being worth 1.25 steem then that will become the new price and it will take 2.5sp delegated per share.
By doing this each future sale keeps the account value and vote value even for previous share owners. At no time will future sales decrease the value of previous owners accounts.
Share Sale Rounds
Unlike some programs out there we will have limited buying time frames which will start and end based on a post announcing the Share Sale. The first 2 rounds will have a fixed price and from there prices will increase.
The idea will be to sell 1000 shares of @minnowbuilder and then move onto the level 2 account. There are 6 total accounts which will be used for this program. More details on this to follow as this post is already getting long.
Value to shareholders
Value will be created multiple ways. First each shareholder will get their proportionate share of the upvote pool for the day. So daily upvotes based on your ownership. These votes will be more valuable then if you were to self vote your own posts. The full math will come later, but know that a collective voting account like this has much more value then self voting.
Rewards used to power up. At the very least 50% of the rewards will be powered up at all times. Some rewards will be held in case someone wants to sell their shares, but that steem is still owned by the shareholders. Authors may be rewarded for their time for posting to the account and this reward would come from liquid payout from posts down the road.
Account has SBI shares and Upvote Share owned which will provide it's posts with added rewards to power up.
Account already has SP and Steem sitting in there along with pending rewards to come. For the first 2 rounds of share sales this is a Bonus to those who join early. Future share sales will have to pay a higher price.
Full Disclosure
This program is being run by @thedarkhorse and @andrewharland.
As with any project of this scope there will be needs for funds for ongoing operations and to reward those who put in time. To accomplish this there will be a 10% management fee built into all share purchased. The fee will be in the form of management shares.
At the start we will use all of the management shares to help boost the next account levels so there is added value to them. Over time we will use these shares for different purposes including future growth plans...we aren't stopping with minnows ;) …. and to reward ourselves at some point for the countless hours that have been put in and will be put in making this program a success.
Complete Package
The @minnowbuilder program offers a complete package that allow you to help the community build up a real middle class, grow your account with daily upvotes which will grow over time, and ownership of your shares with the ability to withdraw them including account growth.
If you have questions feel free to ask. It will help with the writing of the next posts this week which will be designed to completely lay out the program.