[Notice] Reorientation of Management Policy of Referral Fund(@sct.ref) related with SCTR Token

in sct •  3 years ago  (Edited)


• The SteemCoinpan(SCT) Community has operated a referral rewards system to expand its Steem Blockchain users.

• Since the introduction of the referral reward system, 26 members of the SteemCoinpan Community have actively joined the drive to attract new users and increased new users by 99 over that period.


• Operational Performance Analysis of referral reward system shows that new users are still having trouble settling in the Steem Blockchain.
• In addition, concerns have been raised throughout the community about the community's valuable resources being wasted on the referral reward system.


• To address these concerns and problems, SteemCoinpan management team intends to provide appropriate compensation for the recommender's efforts to attract users, and to improve the reward system in such a way that the recommended new user can safely settle in the Steem Blockchain.

Current management policy of Referral Fund

• Distribute the referral reward to the SCTR token holders by holding ratio once a day at a specific time.

Improved plan for management policy of Referral Fund

• One SCTR token will be sent to the recommender and recommendee(for those who engaged already in referral reward programs, the SCTR token will be transferred in batches, retroactively applied to the effective date of the improvement plan).
• The SCT token assigned for the referral fund shall be staked in the @sct.ref account.
• SCTR token holders can receive a upvoting from their @sct.ref account once a day, depending on their token holding ratio.
• The upvoting ratio is 1000% * (the total number of SCTR tokens held by the author of a particular article created "the previous day) / the total number of SCTR tokens held by all the users of every article created "the previous day).

Effective Date

• 09:00 AM, November 1, 2019 (Korea Standard Time)

Expecting Effectiveness

• Contribute to stabilizing the value of SCT token because 5% of the referral fund shall be permanently frozen.
• As time goes on, the referral fund continues to grow, which has a positive impact on improving the value of SCTR token.
• Continuous community activity will help maximize returns and it is effective to increase community activity for both the recommender and recommendee.

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