Well, it's small beginnings, but the Smartcash Smart Rewards Pool has earned interest for the first time.
On July 25 at 4.05pm, 19 SMART was paid to the Smartcash Smart Rewards Pool address.
You can view the transaction here:
https://insight.smartcash.cc/address/SgVbxFqK1tFVfcS1LXLg35LQhbaZXwg8E6
The transaction is a little hard to find as it is hidden in a long list of similar payments that were made at the same time,
but for anyone who needs proof, it's there to be found.
Here is a summary of who earned what, from that 19 SMART:
Full Members:
@sinlg: 13.81 SMART Balance: 743.81 SMART
@auskiwi: 5.19 SMART Balance: 279.19 SMART (excluding deposits made since June 25)
Free Members:
@photoquote 0.012 SBD
@sinlg 0.012 SBD
@leetahsar 0.012 SBD
@eggstraordinair 0.012 SBD
@nexusvortex777 0.012 SBD
@mawit07 0.012 SBD
@sharil 0.012 SBD
Please note that the Free Members have received a full payout in SBD including principal and interest, whereas the Full Members remain invested in the Pool for the next month.
So any SBD gains are paid out of my own principal invested in the Pool.
I just pay the Free Members from my own Steem balance.
This saves on any transfer fees involved in transferring small amounts out of Smartcash into SBD.
I retain any principal and interest in the Smartcash account as the payout has already been made to the Free Members. The process will repeat again for the next snapshot.
How do we get to become permanent investors? Thanks!
Only Full Members can be permanent investors - for that you have to transfer any amount to the Pool from your own Smartcash account. The Free Membership is a one-month option only. The reason for this is that the small amounts of SBD can't be transferred without incurring large transfer fees. But I may change that in the future if there are enough Free Members to make it possible.
@auskiwi can I transfer my small amount of smartcash on steemit to you to become a permanent member? Think I have 85 smarts.
Sure, you can send it to SgVbxFqK1tFVfcS1LXLg35LQhbaZXwg8E6
Can I get my stake smartcash earnings in steem though?
If you are planning to just hold the 85 SMART in the Pool, without compounding the interest, I suppose I could pay the interest out to you in Steem or SBD each month. If you are wanting to compound the interest, it doesn't really become an issue till you withdraw the whole amount. Let me know how you want to do it.
I would like the interest paid out in steem or sbd. Thanks.
Hi! I am running a weekly contest for SmartCash price prediction.
Check my post if you want to join it :-)
https://steemit.com/smartcash/@cknr7/smartcash-price-prediction-contest-round-1-predict-the-price-and-win-30-smart
great work @auskiwi Does that mean I have the balance for next reward? I'm not sure how the snapshot would work
Yes, I believe that when the interest payment is calculated on August 25 for the July 25 snapshot, it gets included. But this is my first time around for this so I will be interested to see how this pans out next month. It does seem though, that they are not precise in the way they calculate the interest. They just paid us a rounded amount of a flat 19 SMART on the 1004 SMART which is equivalent to 1.89%. You can see from the list of payments that they did that with all the payouts - there are some who got 20 SMART based on the level of investment. I assume they round up not down which is good...
sweet
when are you doing a summary for month of Aug? kinda like this summary post?
Sorry, have been very busy - going overseas on 19 September. I will try to get around to doing an update before then.
wow.. that will be close to the next snapshot ;)