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Steem (token)

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STEEM is a cryptocurrency used on the Steemit​ social network. It is a cryptocurrency token, similar to Bitcoin​. [2]​ STEEM is a liquid currency that can be bought or sold on exchanges. 

 

Issuing

Steem (blockchain)​ issues new STEEM tokens each time a new block is produced. A majority of these new tokens are then allocated to a reward pool to reward users for posting and voting on content.

 

Starting from December 2016, Steem blockchain began creating new tokens at an inflation rate of 9.5% per year. This rate is planned to decrease for about 0.5% per year until reaching 0.95% in about 20.5 years.

Use

On Steem blockchain, STEEM can be converted ("powered up") into STEEM Power, traded for Steem Dollars, or transferred to other accounts. On cryptocurrency exchanges STEEM can be traded for other tokens like bitcoin.

Price

The price of STEEM token is determined by the cryptocurrency market depending on token supply and demand on cryptocurrency exchanges similar to how the price of a commodity like gold is determined.

There are 3 classes of assets on Steem blockchain: STEEM (a liquid asset), STEEM Power (SP) (a vested asset), and Steem Dollars (SBD ) (a debt asset).

All information for Steem (token)'s wiki comes from the below links. Any source is valid, including Twitter, Facebook, Instagram, and LinkedIn. Pictures, videos, biodata, and files relating to Steem (token) are also acceptable encyclopedic sources.
This is a discussion about Steem (token). Concerns about the topic, its accuracy, inclusion of information etc. should be discussed here. Off-topic discussion not pertaining to Steem (token) or this wiki will be removed.
  • Comment
    vitkolesnik  •  01/20/2018 09:12:43 PM UTC
    It's needed to make a disambiguation page for Steem as both Steem blockchain and Steem token share the same name.
  • Comment
    Soushi888  •  01/22/2018 04:37:44 AM UTC
    You are right. I suggest to create 2 page. One would be "STEEM (tokens)" and the second "Steem (blockchain)" or just keep "Steem". The "STEEM (tokens)" could be talk about all the economic system of Steem. So, the Steem core token, the Steem Backed Dollars and the Steem Power. Of course, Steem Power and Steem Backed Dollars could have they own page. What do you think about it ? I can work on it if you are okay.
  • Comment
    vitkolesnik  •  01/23/2018 01:28:41 PM UTC
    Yes, STEEM (token) and Steem (blockchain) pages would do, thank you.
  • Comment
    vitkolesnik  •  01/23/2018 09:14:13 PM UTC
    The title here should be Steem (token).
  • Comment
    vitkolesnik  •  01/23/2018 09:57:41 PM UTC
    Fixed the title.
  • Comment
    Soushi888  •  01/25/2018 06:11:29 AM UTC
    I created the page for Steem (blockchain) !
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Created: 2016-07-26T20:04:14.698Z
Last Modified: 2018-01-25T10:47:27.315Z