Vest

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Acording with Wikipedia, vesting is to give an immediately secured right of present or future deployment. The concept can arise in any number of contexts, but the most common are inheritance law and retirement plan law.[1]

In Steem scope we can compare that STEEM Power (SP) token is vested, locked up in smart contract which grants you more voting power. The more STEEM Power you have the greater the Reward for Curating , Posting & Commenting , your vote carries more value meaning that you'll be rewarding user more when you upvote them and yourself when you contribute.[2]

The Steemit FAQ alerts that STEEM Power is less liquid. If a user wishes to “Power Down” SP, they will receive equal distributions of the STEEM weekly, over a 13 week period.[3]

In another financial analogy the STEEM Power is essentially STEEM held in a fund. Vests are shares in that fund.[4] In his explanation of Steem Economic System, the steemian @sigmajin said that just like real world stocks, a vest represents a percentage ownership of the steem-iverse.[5]

The blockchain explorer site Steemd shows how much Vested STEEM each steemian has, just visit www.steemd.com/@steemitusername (replace with the username you want to check). It's different from the Steemit Wallet, that shows the amount of STEEM it would take to purchase the amount of vests the user have at that time. This means a vest is a small fraction of a STEEM, so tiny that usually is represented with the unit Mv (Megavest or 1 Million Vests).

References

  1. Vesting, Wikipedia, retrieved in July 18th, 2017
  2. SteemitGuide: What Exactly is VESTED STEEM ? Why is it important for you know how Smart Contracts allocate power within Steemit's Community and how Social Mining mints STEEM as a Cryptocurrency, Written by @steemitguide in December, 2017
  3. What is the difference between STEEM, STEEM Power, and Steem Dollars?, Steemit FAQ, retrieved in July 18th, 2017
  4. Steemit Education Programme - What are Vests? Written by @hisnameisolllie in August 2016
  5. Understanding the Steem Economic System Vests, SBD, Steem, Dilution interest and all those crazy things. Written by @sigmajin in July 2016

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