Further to my initial application I am delighted to give you an update on my Fundition project. If you missed my initial application you can read it here:

https://fundition.io/#!/@paulag/yl5013tub

I am please to announce I have completed stage 1 – the initial application to Fundition and I have also completed stage 2 which was to write the course material and script for the videos. This also included revising the outline and I have added more content than originally mentioned.

Below is a copy of the script I will be using for module 1 to give you an indication on the content type. The next stage is recording and editing the videos.

I will be using taking head videos to discuss the topics and screencasts to show demonstrations. The end goal of this Fundition project is to have a detailed FREE course available in the public domain covering the STEEM economy.

I have seen a few courses which focus on Steemit, but nothing focused on the niche of the STEEM economy. This course will be published first on Udemy then Skillshare and will have an interactive element in terms of regular live classes.

The aim is to help on-board new users and attract new users and investors.

Module 1: STEEM

What is STEEM?

STEEM is the name of the blockchain, not to be confused with Steemit.com, which is a user interface to the STEEM. It is also the main coin created on block production.

The coin its self is liquid, that means it can be traded on Exchanges for other cryptocurrencies and into Fiat and its price is decided by market force.

We mentioned that steem is liquid, but it can also be used to Power Up. Powering up is the process of converting STEEM into STEEM Power. The more steem power you have the more your vote is worth, and the more transactions that you can carry out on the blockchain. We will discuss SP in a later section, but what you need to know now is the only way you can increase your owned Steem Power is to use STEEM and Power up.

New coins are produced by witnesses when they produce block on the blockchain. Very much like miners on bitcoin. But instead of all the new STEEM being paid to the witnesses like miners on bitcoin, 75% of the new STEEM created is put into the rewards pool that use to pay author rewards and curator rewards. The amount of new coins produced and sent to the rewards pool each day is fixed. 10% of the new steem is used to pay witnesses and 15% is distributed to SP holders.

The production of new steem each year is subject to inflation. We will cover vests in a later section, but what you need to know now is the amount of STEEM per vest changes over time and this is down to inflation.

Starting with the network’s 16th hard fork in December 2016, Steem began creating new tokens at an annual inflation rate of 9.5%. The inflation rate decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%. This will take about 20.5 years from the time hard fork 16 went into effect.

How can I earn STEEM?

You can only earn STEEM as an Author rewards when SBD is in reduced print or has stopped printing.

Okay so we have not covered SBD yet and that sounds a little complex, but this is another token on the block and it is the common token paid as part of author rewards. Where certain conditions are met, SBD is not created and any rewards that should have been paid in SBD will be paid in with STEEM equivalent.

Its more common to earn SBD than STEEM, so let’s look at how else you can get your hands on some STEEM.

How else can I get STEEM?

You can purchase STEEM on many cryptocurrency exchanges and transfer it to your wallet on STEEM. A quick check on Coinmarketcap and then markets will show you what exchanges and what trading pairs are available.

You can also purchase STEEM from a link within your wallet and this will take you to Blocktrades to make the purchase.

You can use the internal market to trade SBD for STEEM and we will look at that in more details after we cover SBD.

You can win STEEM in contests and challenges and games. Many of these are community drive and you will have to keep your eye out for them. You can also be sent STEEM as a gift from other STEEM holder.

You can Power Down Steem Power and we will cover this in a later module.

So as you can see, although STEEM is not generally paid as rewards, its also not that hard to come by. You will see later how you earn SBD, and using SBD to get STEEM is probably one of the easiest ways to acquire STEEM.

Explore

1. How can you get STEEM?.

Feedback

Sometimes you can get STEEM as part of author rewards but that is dependent on other conditions. Many people use their liquid SBD to purchase STEEM on the internal market. Some win some, some people get sent some as a gift.

2. Where does new STEEM come from?