@spinvest-leo was established to build a stake in the Steemleo tribe token. Since it's start a few weeks ago, it has grown significantly, and is making a solid contribution to the performance of the @spinvest program. This announcement today has the potential to launch it to the next level.
Read on for the big news, but first our weekly report.
So overall the account recieved around 38 STEEM worth of income (direct income and transfer for @spinvest), but lost 23 STEEM in value due to a price drop back on the tribe tokens. Overall increase in value for the account for the week was 15 STEEM valuation. I'm personally pretty happy with that, last week was much better, but I had a few small issues and the auto-voting wasn't running optimally. A few times we hit 100% VP, meaning lost curation rewards. No matter, an increase in value of 15 STEEM, in an otherwise tough week (LEO/STEEM price dropped 25%) is a good result.
Big shout out to @tbnfl4sun who has made a huge delegation of 10,000 LEO. This will most definitely drive the results forward next week, nearly doubling our LEO power.
Also, want to shout-out to the @neoxiancity curators who droped a nice vote on last weeks update. The NEOXAG tokens will add nicely to our income on next weeks update (that post pays out in around an hour and isn't included in this update).
Mr SPinvest and I were chatting last night about improving the rewards and incentives for delegations in a sustainable way. After tossing around and rejecting a few ideas, we came up with something we are both very excited about:
Mining SPI Tokens.
Yes, we are introducing a way to passively mine SPI tokens, and help the @spinvest-leo account build a stake in LEO tokens. How is that possible, you may ask. Here is how it works.
- For every 500 LEO tokens you delegate to @spinvest-leo, you will earn 1 new SPI token per month.
- SP held by @spinvest is earning interest (inflation). The dilution of SP per token from new token issues will be much less than the inflation of SP.
- For example, with our current LEO delegator list, 43 new SPI would be issued to delegators for the month. The SP inflation happening in the @spinvest account is around 100 SP per month, and growing, which more than offsets the slight dilution created by 43 new SPI tokens issued.
- This reward system would replace the Upvote system I put together last week.
We see this as a big improvement in incentives for delegators, A guaranteed return in new SPI tokens is much better than a variable and possibly unsustainable upvote policy. We also see this as an opportunity for LEO holders (who may or may not be SPI holders) to build their token balance without having to buy them. Also, those with LEO stake that they are not actively curating with can put that stake to work. Finally, quality content producers in the LEO community also win, with a large LEO stake being used to follow the official LEO curation accounts.
We think this is a great deal for everyone, SPI holders (bigger LEO curation income from more delegation) LEO delegators (regularly receiving new SPI passively), and the LEO tribe at large (stronger votes on curated posts).
As it's the start of the new month, now is the perfect time to launch this. Any new or increased delegations in this first week will earn the full entitlement for October. Tokens earned will be tracked weekly (in this weekly update) and issued by Mr SPinvest monthly. Each week, a new table will be added in to this report tracking how delegations and tokens earned.
I would like to thank all our delegators so far, and hope you find this new system to be an improvement over an occasional upvote.
Have a great day everyone,
Tagging all current delegators so this change is seen: