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.

When we talk about Steem Basic Income, what do we talk about?

We talk a lot about sponsorship, about program rules, about upvoting and delegation. We talk a little about universal basic income (UBI). We talk about community. What does all this look like?

Get your own word cloud at Steem Reports.

Temporary Enrollment Cap

We use the @steemvoter service to manage the vote delivery for Steem Basic Income. Since we are fast approaching their limit of 500 upvote rules per account, we have put a lot of thought into how to handle that. It corresponds to our thinking around long-term sustainability. We have a solution, and will make a full announcement soon! In the meantime, we have a temporary cap of 485 members (15 spots are reserved for @earthnation members, pursuant to our agreements with them - more details to come soon).

We will start cycling out inactive members that have not posted in 90 days, to free their spots for wait-listed members. They will not be permanently removed (they can still start receiving basic income again if they return to activity). We will explain the full mechanics when we make our big announcement. So watch your feeds, and get ready to upvote for your bonus shares!

Delegation Bonus Shares

Existing members can receive bonus shares by delegation. For every 25 SP delegated to @steembasicincome, members will receive 1 bonus share. Currently each share receives a weekly voting weight of roughly 7.91%

These bonus shares will be counted before the bonus shares from upvoting @steembasicincome. So if you have 1 share, received 4 bonus shares from delegation of 100 SP, and then upvoted @steembasicincome regularly, you could potentially receive upvote weight equivalent to 10 shares instead of only 1!

Any Steemian that is already enrolled in @steembasicincome can delegate as much as they would like, to receive bonus shares. The approximate APR for this delegation is 27%. That's a 27% annual return to boost everybody's basic income. I don't think it gets much better than that!

We've had a few members take us up on this, and their upvote weight has been increased to reflect their bonus shares:

Here are some Handy Delegation links:

Enrollment

Sounds intriguing... How do I sign up?

Send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the comments. You and the person you sponsor will each receive 1 share in the program (or be wait-listed).

Questions?

We broke down the mechanics for how the program works in the extended introduction, and we hope to provide an updated overview soon. If you have any questions, ask away in the comments section!