Steemitocracy - The Consensus Game - Steemit
Game Rules
Steemitocracy is a game based on the Steemit.com social media site. The concept of the game is to try to make votes on quality content on a consensus basis match across the network in an aggregate form. How the game achieves the proper voting level is through an average of votes across the network. The formula used is factored on an average of value per vote from the trending page. To participate in the game you must register for Steemitocracy ” affiliated with Mykos Coin
The idea is to average the votes of the most value to match the quality of votes spread across the network. It is important to note that within the traditional steemit social network. The steemit influencers voting patterns work in conjunction with the game. To illustrate if a steemit influencer were to cast a $10 vote and you received 10 votes. This would satisfy the average. In that particular example. Only one vote was needed to fullfill the idea of the game. If a steemit poster reached 100 votes. To average out the votes they would need to receive $100.
Posts that receive dollar votes matching consensus base votes and come within 21 points or dollars, win double their post value in mykos coin. You may go under or over. However it must be within 21 points.
It is important to note the object of the game is not to upvote content of poor quality. The idea is to make sure that through a consensus setting quality content receives average dollar value of votes. If a post receives more than the average amount of votes that doesn’t have a negative impact on the game. The main objective is to make sure that good quality post with less votes receive votes to average out on a consensus basis with comparable high quality posts. In addition to that the idea of Steemitocracy is to have each vote directly or indirectly represent an average value on a consensus basis.
This does not take away from the level of influenced gained from holding steem power. On the contrary high sp holders are encouraged and welcomed to participate and help the game to balance out. The level of how much votes received in this particular game is based on how many votes are received as then we hope to reach consensus of value within the game to some degree.
The challenges of the game which of course adds to the object of the game. How will we be able to pay out this amount without exhausting voting power. It would be inefficient and not very likely to give everyones post the same vote value. To address this issue. The Steemitocracy game affiliated with Mykos Coin intends to payout vote value in both steemit upvotes and a bonus coin called mykos coin, in 50/50 increments.
For example a post that earns 100 votes would receive from the game no more than $50 in upvotes. We would then take the other $50 and reward it in Mykos Coin. The game will then buy back Mykos Coin on the waves decentralized exchange at a value at or less as the token holder can sell for higher or lower. Although 50% of funds raised from the game and site will be distributed in equal portions. If voting power is exhausted to a percentage lower than the value of the post. The remaining value will be paid in Mykos Coin until the value of the post is reached. You may at that time trade it for whatever amount you wish. This will allow value to be maintained as funds and voting power is replenished. To receive and trade these bonus tokens on the Waves Dex. Waves Dex is an independent decentralized exchange. You need to setup your wallet here
This allows the game to be able to give value to every post on a consensus basis. We also will encourage higher sp holders to participate and help us equal out the value of the votes. We believe this game can contribute to a healthier steemit.
