Hello SPIers, today we look at the HP delegations we make to leo.voter through the accounts we manage and consider if it's time to move on. I dont like to move delegations about and normally if a project is having problems, I'll stick with them for a while to give them time to recover.
Leo.voter is prone to missing 2-5 days per month in a normal month but lately it's been more than that. I can turn a blind eye to it happening every now but when you get used to factoring in missed payments, it is maybe time to bounce. I miss 1 div payment and I know about it, I'd guess LEO get hundreds of DMs a day all asking for the same thing.
We are told to go and create a support ticket. This will take a few weeks to resolve if you are lucky during which time, you miss more payments requiring you to open new tickets in a never-ending cycle. Would you spend 20-30+ minutes gathering information, opening a ticket, interacting with the rep over days, waiting for them to reply, etc for a few LEO tokens?
If you make something hard or long to do, people will not do it. Simples
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COMMENT - Loving Every Oversight...
... if you have missed payments and been too lazy to open a support ticket because its not really worth your time?
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Im fairly sure the LEO team is fully aware when leo.voter misses payments and they could easily adjust the next payout amount to include missed payments. leo.bounties is a simple distribution bot and should only be a few lines of simple code, not some super complex thing. It should never miss payouts. The fact that it does is suspicious. The fact they dont back pay automatically is odd when every other project that misses payments backpay automatically.
What are we looking for and how much?
In total, we have close to 300k HP delegated to leo.voter through SPinvest projects. For projects like EDS and DAB, the consistency of the value of the reward is more important than the yield %. For wallets like @spivest and @spi-store, it's more about the yield %. The most important thing is "how passive is it?"
@spinvest = 45,941.397
@spi-store = 101,594.262
@eddie-earner = 102,128.017
@dailydab = 47,390.971
& 106k HP from my personal account if I decide to curate with the eds-vote trail
Ideally, with our HP, we can earn HIVE, HP or any token that is easily converted into HIVE. LEO has a decent trading volume so selling them is easy enough without having any impact on the price. There would not be any point in delegating 300k to a project that rewards 40% in a token that has no market volume or liquidity. We need liquid HIVE coming in each week, liquid cash flow to pay divs and make new investments.
Our options
We basically have 3 options.
There is not alot of solid options on HIVE these days. There are options but we could count on 1 hand the projects that offer cashout liquidity, decent dividends and are sustainable.
| Project | APY | How often? | |
|---|---|---|---|
| 1 | HP curation | 9-10% | Weekly |
| 2 | brofi | 10% | Daily |
| 3 | PWR voter | 8% | Daily |
HP curation would yield us HP which would require us to start a weekly paydown. To make it completely passive, all accounts would follow the curation trail for @eds-vote. I also plan to add another 100k HP from my personal account to follow this trail as well so it would be like increasing eds-vote vote value by 400k HP in a backward way.
Brofi would yield us BRO tokens, around 80-100 per week. I think short term the token has enough trading volume for us to dump rewards into but long-term, week after week, month after month im not so sure. I think selling 100 a week would erode the price over time. Plus to get the 10%, we'd need to sell them at the same price brofi paid for them to be able to distribute them. The more BRO brofi buys, the more they pay per BRO. The more BRO we sell, the less we get per BRO.
PWR is soft pegged to 1 HIVE each. The APY is low at 8% but PWR can be used to earn around 25% in the PWR/HIVE LP on Beeswap (12% when we factor in the HIVE used). We already hold a large stake in this LP so.....
The winner here would have to be HP curation. I never would have thought we'd see a day when HP curation would be one of the highest yields for HP. Im old-school and remember 20% for leasing was normal. 25-30% back when we had voting bots. HP used to be alot more monetized than it is these days.
What do you think?
Is it time to move from selling LEO each week to starting HIVE power-downs? or are there other options? Everyone that gets a LEO upvote would see a 12% decline in the vote value but at the same time, SPinvest would not be selling 3-4k LEO tokens a week which would prob be good for the price.
Last note:
If we do pull all delegations from leo.voter, I plan to collect missed payment data for the past 2 years over a few accounts and make a massive refund claim request. They say backpay on request so this should not be an issue 😁 I'd say we've missed out on thousands of LEO to date.
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| EDS-vote | @eds-vote | n/a |
| EDS DOLLAR | @eds-d | EDSD |
| DAB token | @dailydab | DAB |
| DBOND token | @dailydab | DBOND |
| RUG token | @rugem | RUG |
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