EOS has over $400 million dollars available for people right now

422,895,000 to be exact. That is if EOS were live today. By time EOS goes live this summer the market cap will most likely be even higher and this reward pool will also be higher.

You might be asking "how is this possible?"

According to the white paper "The EOS.IO software may be configured to enforce a cap on producer awards such that the total annual increase in token supply does not exceed 5%" So this amount will go to block producers but it also serves another funtion.

I know a lot of people are excited about EOS but I don't now how many have caught on to this important fact found in the white paper. It is the Community Benefit Applications. This will be 3 smart contract applications that the community will be able to vote on. Here is what the white paper has to say on it.

Community Benefit Applications

In addition to electing block producers, pursuant to a blockchain based on the EOS.IO software, users can elect 3 community benefit applications also known as smart contracts. These 3 applications will receive tokens of up to a configured percent of the token supply per annum minus the tokens that have been paid to block producers. These smart contracts will receive tokens proportional to the votes each application has received from token holders. The elected applications or smart contracts can be replaced by newly elected applications or smart contracts by token holders.

So what will these benefits be?

Well we can come to the conclusion based off what the EOS team has been saying so far and that is that one of these community benefits will be a social media platform. Something very similar to Steemit but with improvements to make the user experience and distribution better for everyone.

Dan Larimer as you most likely know is one of the founders of Steemit. He has already stated he wants to build a better version of steemit and the CEO of block.one, the company funding EOS has confirmed it.

So while we don't know yet how the funds will be allocated we can just look at some numbers on what it might look like. Let's just say that EOS is worth $10 per token when it launches. That will give it a market cap of 10 billion. So 5% would be 500 million to be split between the block rewards and the community benefit contracts. So lets just say the block producers take 75% of that. Then we would be looking at $125 million for the Benefit Apps. If you split that up evenly between all 3 smart contracts then that is over $41 million dollars each. So we could be looking at over $41 million in rewards for curation on a steemit like social media site running on EOS. That would be almost double what Steemit has paid out since it has existed.

Please keep in mind that these are theoretical percentages and we will have to wait and see what the token holders vote on but this is just to give you an idea on this in case this something you were aware of.

• Please correct me if I got any of this info wrong
• Also do you have any ideas for community benefit apps?
• Are you working on any already?.
• Please leave comments below if you have anything to add.