@spinvest-leo update 7 - First Mining payout, growth and thoughts.

in #steemleo11 months ago

It has been another big week for the LEO tribe, with progress on the Leodex including their own seperate STEEM to STEEMP gateway being trialed (at a much lower fee the Steem Engines 1%). I see this as a great feature that adds more value to the LEO brand, and ultimately token value. I am really looking forward to SPI being listed on the LEODEX, and in future a direct LEO/SPI pairing hopefully.

spinvest - moon.png

First mining payouts.

Today, I have sent out the SPI rewards for delegating LEO to the @spinvest-leo account. These are earned at a rate of 1 SPI per 500 LEO delegated, per month. The SPI tokens were purchased on market through the sale of LEO tokens. I'll get more into this process further on. Firstly, here is the delegation tracking chart:

Delegation tracker October.JPG

And here is the payout screenshot:

first mining rewards.JPG

The eagle eyed amongst you (@shanibeer) will notice an error. I have short changed myself (@jk6276.leo) by 2.63 SPI tokens. I had a math error (my second one in a few weeks) and thought I had purchased enough SPI when I had not. Powered everything up before I realised, and didn't have enough SPI to pay myself fully. I'll fix this up in the coming days and update with next weeks report.

Tagging all delegators so you see this and realise SPI payments have been sent:

@welshstacker, @no-advice, @melinda010100, @qam2112, @underground, @preparedwombat, @tbnfl4sun, @silverstackeruk, @shanibeer, @oldmans, @bucipuci, @jk6276.leo.

I am quite proud to have hit this little milestone, the account has grown well and these token rewards have all been funded from @spinvest-leo earnings with no reliance at all on the main @spinvest account. (aside from the transfer from @spinvest of its weekly LEO earnings)

Income report.

spinvest-leo update 7.JPG

This may look bad at first glance, but it isn't. The last note tells the story, with 320 LEO being sold to buy SPI tokens. This was almost the full months rewards being purchased from 1 weeks worth of earnings. This shows that this program is turning basically a 75% profit on delegations. A weeks worth of income pays for the months rewards. Read on to see my thoughts on this, and please provide your feedback. Overall, we gained 34 STEEM value and bought the SPI rewards this week (pretty much, I bought a few last week). All in all, delighted personally with this steady progress.

My Thoughts. Opinions please.

  • I am thinking that we could double the SPI reward for delegations. Instead of 1 SPI per month for every 500 delegation, do 1 for 250. This would still leave a big (50% ish) profit on delegations, but may atttract more Leo delegation via improved rewards. The vast majority of @spinvest-leo's income is derived from this delegated stake, shouldn't it be rewarded with a bit more than 25% of the income. 50/50 seems fair to me, still leaving plenty to continue the growth of the account.

  • I will shift to buying the SPI tokens on a weekly basis, to smooth the income variance out.

  • I have decided I don't have the time to manage a similar program for other tribes. I really do hope someone else steps up to start up something similar, but for now I will concentrate on LEO only. Who wants to set up and run a @spinvest-neoxag account? It really only takes a few hours a week to manage, and is a greate way to contribute to the growth and decentralisation of SPI. Everyone wants decentralisation, who is prepared to help make it happen?

  • I'd still love it if someone could make a logo for this account combining the SPI and LEO logo's into 1 - anyone?

A fair bit to digest in this report, please share your opinions (particularly on increasing the mining rewards) in the comments.

Have a great week everyone, SPI to the mooooooooonnnnnnnn!!!!!!

@jk6276.leo on behalf of @spinvest-leo and the @spinvest program.

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I say put the SPI crown on the Lion 😂

👑🦁



I've been prodding you about the Spinny-OxianAG project because I believe I want to host it if you don't. I have a substantial stake of NEOXIAN Silver, plus .513 of a Silver Miner, a couple separate accounts and I think I could do the posting requirements. Not planning an exact copy but something that pays out pretty well. Well over 20,000 neoxAG tokens, just under 24,000 in fact. Neoxian has a delegation model that rewards relatively small DELI with 100% UV and an aggressive 'burn program' that turns over a lot of tokens on a regular basis! I've been doing the homework, and I believe I can get a blessing from The Man himself, maybe even a special deal for the community 👍

Awesome, I reckon you will be perfect for the job. If you want to chat about set-up, hit me up on discord. If I'm not at work or asleep, I'll be around. Looking forward to seeing another branch growing from the spinvest tree.

Posted using Partiko Android

Here it is

Yeah I have a few questions, and decisions to make. I want to have a little different approach but once I see the complete picture, it will likely be more similar than different 🤩🦁🥈

I have some NEOXAG. I can delegate them to "spi-neoxag" at any time :-)

Very Nice, Buci!
JK and I have been chatting, and just between the two of us,
SPI-NeoxianAG would be already about 90% as large as Spin-LEO
Darn close to 30k right now, in fact.
I need to formulate a posting ;)

🤑😲😱🙀💹🥇🥉🥈💲💸💰🤑

When it's done, give echo so I can contribute my little bit to the mill :-)

I liked what I read and I will send you 1000 LEO as soon as I buy them on the market.
!trdo

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Interesting, now tell who do I delegate Leo to in order to participate?

Delegate any amount you like to @spinvest-leo . I'll take care of the rest.

Posted using Partiko Android

I was quite excited to see that my SPI account had gained a few Tokens when I went into my wallet! Thank you! It's so good that my Leo tokens are being put to good use! And who wouldn't like the idea of getting twice as many for the same delegation.

You get it, you understand how it works. Many hands make light work.

I will send you over 3 SPI tokens to even anything up. I'm 100% behind you and i believe you know your numbers so if you say we can double the rewards, we can the rewards :)

Excellent news and progress, thank you for looking after it so well :0) - sorry you missed out on your own rewards, though, that won't do! Hope you get it sorted in next few days :D
If the fund is able to sustain increased rewards for delegators, that's a good idea. It will mean that spinvest-leo is more competitive, which is helpful to spinvest and steemleo, and we will be growing our investor base.

I have just delegated 1000 LEO to @spinvest-leo. Please acknowledge.

Your delegation is received, and now earning SPI's. Stay tuned for an announcement later this week.

Thank you.

Thank you for posting from the https://steemleo.com interface 🦁

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