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RE: Understanding Steemit : Know How Steemit Reward System Works and How Rewards Are Distributed!

in #tutorial4 years ago

In simple words, here is how it's done:

Let's say the total earning of a post is 100.

25% of this amount is deducted and is paid to curators.

25% of 100 = 25(Curators' reward)

Remaining amount: 100 - 25 = 75

50% of remaining amount is SBDs, so in this case, 75/2= 37.5

Now we will minus SBD part and we will have = 37.5

We will divide this amount with STEEM price and that is what we get in SP. Current STEEM price is 4.82. By dividing last remaining amount that is 37.5 with current STEEM price, we get SP = 7.780

So a post with $100 payment from Steemit in terms of SBD and SP is as follows:

SBD = 37.5

SP = 7.780

I hope it helps.

Steem On!

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I definitely helps that's why I have voted it to top. It is a nice little summary of reward distribution. I covered such a brief summary in the Steemit economy post.

Suppose your post shows $100 reward. Upon payout, you (author) will only get 75 % of it (that too half in SBD and half in SP). Rest of the 25 % is converted to SP and distributed among people who upvoted your post (curators). For $37.5 (half of 75 %), you get exactly 37.5 SBD. The other $37.5 are converted into SP as per current USD price of Steem (you get as SP whatever number of Steem can be bought with 37.5 USD).

However, the information other than distribution is what makes this post a one stop shop for information Steemit reward system. That's why the length and the detail.

Thanks a lot Ilyas (@ilyastarar), this post is very helful to understand the principle of Steem,
By the way, I am following you now,
@racoo

It's a very good post on this topic. Excellent effort.

Just saw your name. Yasir Bukhari. Following you bro. Good to see!

Thanks. Following you too. Keep rocking man.

That's if the post is yours? How much do the commentors and upvotors get?

Yeah. If it's yours, yes. Upvoters get curation reward as mentioned briefly in the post (estimated 25 % of your vote value). I do sense that commenting has an impact on rewards but I do not have anything concrete to say yet. I will search and include in the post.

However, by commenting, you create an opportunity to get upvoted. Author and curation rewards apply on comments too.

Amazingly well-structured post! And also it is very informative to those who are still new to steemit like me. Anyways thank you for postsing this :) you really help many people with this. Keep steeming :)

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