What is happening to my Upvote Worth? Shall I panic?
I guess you have recently noticed that your upvotes do not give as much SBD as 1 week ago.
What happened?
Is it related to Steem price?
Is it the Reward Pool in depletion?
Not really!
After experimenting the reward pool and how it works yesterday, today I have made further analysis and calculations.
Here we go from the basics:
How much money are there in the reward pool?
image source
I clearly defined this in my yesterday post but basically, you can see it from STEEMD and at the time I write this post it is 723 480 STEEM and it is increasing with a rate of 1,73 STEEM for every 3 seconds.
OK, reward pool in increasing but how much money will be taken from the reward pool?
At any time, the amount of claimed rewards are defined and also this changes every 3 seconds as people claim rewards.
So there is a direct proportion with reward pool and claimed rewards.
The claimed rewards are determined in VESTS.
So at the moment there are 438 quatrillon vests of claimed rewards
This means, for each vest claimed ( yes you normally give vest when you upvote...) there is a certain correspondance for STEEM.
Reward Balance / Recent Claims
From equation, this can be calculated to be 0,00000000165 Steem / VEST
Come to the point, what happened to my upvote worth?
We all have some VEST in our balance.
This can be seen from https://steemd.com/@username ( take care, this is MVests )
For me, I have
1 055 436 720 781 VESTS
but I have delegated
102 170 000 000 VESTS
so to calculate my VESTS that gives me upvote strength, I have to substract them.
Formula is :
VESTING SHARES - DELEGATED VESTING SHARES + RECEIVED VESTING SHARES
I calculate it to be 953.266.720.781 VESTS.
We have previously calculated how much steem can be taken from reward pool per vest and it was 0,00000000165 Steem / VEST
Here comes my upvote power : 953.266.720.781 VESTS x 0,00000000165 Steem / VEST = 1,573 STEEM.
When we upvote at 100%, we are using %2 of this power so we do again a calculation.
1,573 STEEM x 0,02 = 0,0315 STEEM.
This number is determined by the reward pool, how much claims there are and your vesting shares.
This value was probably like this also 2 weeks ago, but our upvote worth was higher.
Feed-Price factor
When Steem is converted to SBD, the exchange isn't done according to market values but an average value determined by Steemit(?)
This point is still misty for me but I am determined to solve it.
Currently, according to Steemit, the exchange rate is 1 STEEM = 1,974 SBD
Unrealistic but true...
So my current upvote worth is : 0,0315 x 1,974= 0,0621 SBD.
What happened is, Steemit changed recently this Feed Price Factor.
Before, the feed factor was approximately 3,4 SBD / STEEM and my upvote was worth 0,0315 x 3,4 = 0,107 SBD.
Conclusion
Don't worry, reward pool is not depleted, it is only adjustment of Steemit as a result of how they see STEEM/SBD convertion rate.
The impact is, now your upvotes give less SBD but more SP.
Keep upvoting.
Stay Positive.
FD.
Edit : Formulas put altogether as recommended by @salty-mcgriddles.
Calculate Steem Reward per Vest :
Steem_Reward_Per_Vest=Reward Balance / Recent Claims
take data from :https://steemd.com
Calculate your Active Vesting Shares
Active_Vesting_Shares = (VESTING SHARES - DELEGATED VESTING SHARES + RECEIVED VESTING SHARES) x 1,000,000
take data from :https://steemd.com/@username
* Find your %100 Voting Power in Steem Units
Voting_Power_Steem(%100) = (Steem_Reward_Per_Vest x Active_Vesting_Shares)x 0.02
* Find your %100 Voting Power in SBD Units
Voting_Power_SBD(%100) = Voting_Power_Steem(%100) x FEED_PRICE ( Base )
take data from :https://steemd.com