The social media website Steemit that’s similar to Reddit has just announced it has distributed $1.3 million USD in the platform’s native cryptocurrency Steem. The website’s user base will have a lot more digital currency to earn just by posting original content on the decentralized platform.
Steemit Users Rewarded
On July 5, the Steemit (steemit.com) social media platform distributed 10% of the Steem market cap to reward contributors and early adopters of the newly created community. So far there are lots of content submissions with a vast array of subject matter spanning topics such as gardening, politics, and finances.Steemit, a decentralized social media platform, is celebrating its third month of operation and to make it even more memorable, so the company decided to add this multimillion dollar payout as a milestone.The CEO of Steemit Ned Scott said during the announcement the distribution has marked a “pivotal moment” for thesocial media platform. This comes after exponential growth from its user base growing 1,600% from May to June. During June and July, the Steemit community doubled again, says the company, as it continues its path of progressive expansion.
