Namaste to everyone. We are happy to be back with another update. Indiaunited is a community that supports Indians on Hive. We are a group of collective Indians supporting fellow Indians on Hive for their efforts. As a community so far we have been operating a curation reward system where people can delegate their HP to the @indiaunited community and earn more than 100% curation reward share. The reward share was fixed as a flat 10% APR even though the usual APR from the daily curation reward is only 8 to 9 percent on average. We were able to manage it by paying the rewards in the form of IUC tokens that are soft-pegged to Hive. This model is going well and has not created any challenges so far. To improvise and add more support to people delegating more HP, we are planning to make a few changes to the delegation rewards model.
After a few considerations, we have decided to introduce a Tier-based curation reward share to the delegators. This will allow rewarding the users who are delegating more HP to the community. Currently, there is already a scheme that provides an additional 10% vote for people who are delegating 2000 HP to the community account. With this change, people who are delegating more than 2000 HP to the account would enjoy 10% APR, and those who are delegating below that would get a little less APR because we are getting less curation rewards from our voting activity on average. The below table will describe the changes to the APR.
upto 100 HP - 5% APR
101 to 200 HP - 6% APR
201 to 500 HP - 7% APR
501 to 1000 HP - 8% APR
1001 to 2000 HP - 9% APR
2001 to 5000 HP - 10% APR
5001 to 10000 HP - 11% APR
Above 10000 HP - 12% APR
The more voting power the community account has, the more posts we can support with our manual curation efforts. To encourage people to delegate more, we have increased the curation reward for the last Tier to 12 percent. Anyone delegating more than 10k HP to the community would enjoy 12% APR. If we get more delegators over 10k, it will be good for the community to do more manual curation but it can be a little hard to distribute the rewards. So far we can manage the liquidity with IUC tokens. Hopefully, we should be able to continue this with the same.
Final note, all the APR percentage mentioned above is not set in stone. For now, we think this would be a good move and we are implementing it as an experiment. Based on the observation, we will be introducing improvisation as and when required in the future. Those who are delegating HP to the community are also getting other benefits apart from just delegation. They become a registered member of the community with some more additional perks on the discord server which will continue to happen. We have also planned additional perks for the delegators in the future. Stay tuned!
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