Steem (STEEM)

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Steem (STEEM) Review

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In Steem (STEEM) defi token, user-generated content has created billions of dollars’ worth of value for the shareholders of social media companies, such as Reddit, Facebook, and Twitter. In 2014, Reddit hypothesized that its platform would be improved if everyone who contributed to reddit.com by posting stories, adding comments or voting were rewarded with a fair share in Reddit, Inc.1 Steem aims to support social media and online communities by returning much of its value to the people who provide valuable contributions by rewarding them with cryptocurrency, and through this process create a currency that is able to reach a the broad market, including people who have yet to participate in any cryptocurrency economy.

Of the key principles used to guide the design of Steem defi token , the most important is that everyone who contributes to a venture should receive pro-rata ownership, payment, or debt from the venture. This is the same principle that is applied to all startups as they allocate shares at founding and during subsequent funding rounds.
The second principle is that all forms of capital are equally valuable. This means that those who contribute their scarce time and attention toward producing and curating content for others are just as valuable as those who contribute their scarce cash. This is the sweat equity principle and is a concept that prior cryptocurrencies have often had trouble providing to more than a few dozen individuals. The third principle is that the community creates value to serve its members. This principle is exemplified by credit unions, food co-ops, and health sharing plans, which serve the members of their community rather
than selling products or services to people outside the community.

The Steem community provides the following services to its members:
1. A source of curated news and commentary.
2. A means of getting high-quality answers to personalized questions.
3. A stable cryptocurrency pegged to the US dollar.
4. Free payments.
5. Jobs providing the above services to other members.
Steem’s purposeful realignment of economic incentives has the potential to produce results for everyone
involved that are more fair and inclusive than the social media and cryptocurrency platforms that have preceded it. This paper will explore the existing economic incentives and demonstrate how Steem’s incentives
may result in better outcomes for most participants
 

Essential Information

Steem Price $0.168504 USD
Token Name Steem
Token Symbol STEEM
Steem ROI -73.79%
Website Link Home
Market Cap $64,906,773 USD
Circulating Supply 385,194,998 STEEM
Whitepaper Whitepaper
Market Rank #129

More about Steem (STEEM):

They see a world where people get paid for their content and attention — a future where digital content is monetized without the necessity for advertising or selling user data, and communities have the same fundraising capabilities online as they do in everyday life. That’s why we’re building new token-based economic models on the Steem blockchain that create opportunities for people to bridge their passions with success via cryptocurrency rewards.

Steem defi token is designed from the ground up to address the major barriers to the adoption and monetization of a social media-based economy. Our thesis is that the same techniques used to grow major social media platforms can be used to bootstrap a successful cryptocurrency. Economic incentives enabled by cryptocurrency can
dramatically facilitate the growth of a new social media platform. It is the synergy between cryptocurrency and social media that we believe will give Steem a powerful advantage in the market.

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Steem (STEEM) Scam or Not?

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