Sneakpeek: Delegation Pools

in steem •  19 days ago

Do you remember the post I made about 3 days ago?

This one: Proposal for Resource Credit Delegations (RC Delegations)

I explained in there my reasons, why RC delegations are important and why it makes so much sense for them to be implemented, maybe even as soon as possible.

Now, it seems that the devs of Steemit Inc. have their own agenda aka way of implementation already. (since August)

Delegation Pools

I learned about this earlier today, when I noticed a Github issue by @clayop: Mvandeberg, lead dev of Steemit inc. made the following comment, where he explained Delegation Pools real quick.


How does it work?

So, as far as I understood it:

As a Stakeholder, I would be able to delegate my RCs to a pool, which will work somewhat like a proxy. That means, multiple people could delegate to a pool, which in return will allow specific users to use those RC funds.


Now, since there is no implementation yet whatsoever, a lot of questions are still unanswered, for example:

  • Can only original stakeholders delegate RCs? (meaning: @smartsteem has ~3 Million SP, would @smartsteem be able to re-delegate some of the RCs to a pool, or is that only possible for original stakeholders?)

  • How will those users be selected?

  • What is a pool? An account?


I'm more than interested in this new feature. As I'm currently diving into the Steem blockchain code myself, I'd be more than happy to watch and maybe even help with the implementation.

And I'd also love to get some more info about delegation pools. (Quick look to @ned)

But regardless, what do you think about this?

Let me know!

@therealwolf


If you believe that I'm of value for Steem, then please vote for me as witness. You can also set me as a proxy and I'll vote on great witnesses for you. More about my witness infrastructure and myself on therealwolf.me.

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interesting. i see alot of new users pissed on my discord ;x

Wow, that's some really interesting news. I think that will create a great use for dApps who rely on heavy RC transactions. Super interesting where this is going. And a nice way to generate income by renting RC away but keeping the voting power.

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Exactly. Brings a lot of usability and on the other hand, creates a whole new market.

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Potentially, a nice little income stream for people who don’t need to utilize most of their resource credits. Maybe no 7-day cooling off period like with delegating Steem Power?

Posted using Partiko iOS

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The 7 days have been lowered down to 5 days with the latest hardfork but I don't know how this works for RC delegation.

Wow that is pretty amazing.

What is a pool? An account?

A pool isn't an account, it's a pool; it's a completely separate and new object. Every pool has a list of accounts attached to it, and every account in the pool is allowed to use a certain % of the resource credits in the pool.

I think the truly revolutionary thing about this concept is allocating more than 100% of the pool (which is really the entire point of them, otherwise you would simply delegate RCs individually). In the highly likely event that that a user doesn't use all of their resource credits, someone else will be able to use those credits.

Can only original stakeholders delegate RCs?

Probably at first. Might be hard to give control of RCs to accounts that don't control the SP. I'm guessing eventually RCs will be delegated separately from SP, so we'll eventually be able to delegate SP without the RCs attached to it, and those RCs can be delegated elsewhere.

How will those users be selected?

Whoever created the pool gets to choose every user in it and how much they can spend. Let's say you had a friend who needed RCs. You could create a pool of say 1000 SP worth of credits and give your friend 100% access to the pool (all 1000 SP).

However, let's say you had some acquaintances you wanted to add to the pool. You could add 9 people that all had access to 100 SP each. This way your friend will still have a ton of RCs, but you're also letting 9 other people post to the blockchain. Your friend can completely deplete the pool if he wanted to, but none of your acquaintances could do the same.

You could also create a pool of like 2000 SP and just add people to it and give them ALL 100% access to it. You could probably add 100 people to a pool like this and they would never run out of RCs. If you noticed that one or two people were constantly draining the pool you could put limitations on those few users.

This new system sounds extremely powerful... obviously I can't say these things with 100% certainty but it's certainly how I interpret it.

ta keep us posted. sounds interesting / confusing

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Of course! By the way - you got so confused that you un-voted my witness? ;)

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oops just redid was trying to move it higher up the list

Very interesting... Super excited to sell my RCs via smartsteem lol

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keeps tabs on this closely

I know there are many small accounts that are saying they are having a hard time doing anything. Being able to delegate RCs would be an interesting feature for sure @therealwolf!

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Not if those small accounts need to pay for it. Many people from poor countries can't spare anything. What we consider to be change is a month's worth salary for them.... :0/

I knew what some of those words meant.

Posted using Partiko iOS

Voting Power is unaffected?
From an outside view, does this mean a scammer can delegate out pretty much all his RC's keeping just enough to make 50 votes a day and 50 transactions a day, and then collect a fee for the delegated SP while self voting themselves and their account to the moon? In government they had a thing called double dipping, it sounds like this is what is being set up. But That is a view from a crypto outsider because I really do not know how it works.

that would be wonderful. as i was agonizing with the costs of voting and posts and comments....

oh and have a nice day.

Thanks i was upvoted 10 steem but my real steem was 22 i lost please check my account to verify and return 12 thanks for your kindness

seems like everyone is waiting for this. i know i am! would love to hear more details as they come out..

at the current rc budget, new accounts simply don't have enough resources to be active or start growing.. 😦

~3 Million SP, would @smartsteem be able to re-delegate some of the RCs to a pool, or is that only possible for original stakeholders?

Well, when one delegates SP the degation recipient receives the RC tied to the delegated SP. So based on that then I would suspect yes @smartsteem would be able to re-delegate the resource credits that it has from its received delegations.