@spinvest-leo Update 8 - bedding down changes, SPI payout.

in steemleo •  4 months ago 

This week has seen a few changes to the @spinvest-leo account. You can get the full details from this post. I'll summarise quickly and (hopefully) clearly:

  • SPI payouts will now be made weekly.

  • Calculation change doubles the mining rate. Bear with me for a re-worded explanation as I confused people in that post. Old calculation was 1 SPI per 500 LEO delegated per month. New calculation will result in 2 SPI per 500 per month. The actual math used is 1 SPI per 1000 per week, but this is the same outcome as 2 per 500 per month. It still looks wordy and confusing, I hope everyone gets it, or someone can explain it better than me. Long story short, payout is doubled!

  • Any amount of LEO delegated qualifies. There is no minimum. Well, actually, the minimum would be 10 LEO as I pay SPI to 2 decimal places and that would be the smallest amount I could pay - 10 LEO mines 0.01 SPI per week.

  • Another behind the scenes change I made this week was to tweak the auto-curation a bit to improve its use of LEO voting power. I also turned of the remaining auto-votes for delegators. These were a carry over from the original reward system, and when SPI mining started were meant to be turned off. I had just not gotten around to it until now. The new weekly mining rate is a great reward for delegating, far superior to an occasional upvote.

spinvest logo.png

OK, down to the numbers this week.

Our returns this week were impacted by 3 main things.

  1. Increase mining payout - obviously when you double the reward for delegating, net income goes down as more gets used to buy the SPI rewards. This is a temporary, 1 of reset to our net income.
  2. Increase in delegations - we gained new and increased delegations that earn rewards this week. The benefits of those delegations don't flow through till next week (due to the 7 day payout cycle). This is also a one off impact but will re-occur in the future if more delegations come in.
  3. The main @spinvest account didn't transfer its LEO earnings over this week. Mr Spinny needed the LEO to list on the LEODEX. This was a great long term move, and will benefit the club incrementaly over time as LEODEX builds out its feature list.

This weeks outcome:

spinvest-leo update 8.JPG

A slight drop in the price of LEO, combined with doubling SPI rewards and no LEO transfer from @spinvest meant the STEEM value of the account dropped by 2.81. Most of these are one off impacts, and next week will see a return to growth, all things being equal. The good news is that the doubled reward is fully funded from within @spinvest-leo, with zero reliance on any other sources. This weeks mining rewards amount to 37 SPI, with a STEEM value of 44.4.

All in all a very exciting week in my opinion that sets us up for growth and increased benefits for SPI miners.

Show me the SPI!!

Week 8 SPI payouts..JPG

Tagging all delegators for visibility, check your wallets.

@crypticat, @ronaldoavelino, @conradsuperb, @welshstacker, @sames, @metzli, @davedickeyyall, @no-advice, @melinda010100, @qam2112, @underground, @preparedwombat, @tbnfl4sun, @silverstackeruk, @shanibeer, @oldmans, @bucipuci, @jk6276.leo.

6 New delegations this week, including some from outside the current list of SPI investors. A few existing delegations increased and no-one decreased or undelegated at all. Happy customers it seems. :)

36.96 SPI payed out this week.

That's it for this weeks update, I'll have another post later in the week showing some ROI calculations on this delegating LEO setup. Was going to do it today but ran out of time.

Thanks everyone for supporting this program,

JK (@jk6276, @jk6276.leo)

on behalf of @spinvest, @spinvest-leo.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @spinvest-leo! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You distributed more than 1750 upvotes. Your next target is to reach 2000 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:

SteemFest⁴ - Meet the Steemians Contest
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Awesome stuff. Thanks for the detailed post outlining the updates. Wish I seriously had some more leo to delegate for passive SPI!! Urgg!!

Oh, new spinvest-votes post is out btw. Hope to see some response from club members there discussing our upcoming club vote

Cheers mate

Posted using Partiko iOS

Thanks for mentioning and rewarding :-)

Should the LEO be delegated to @spinvest or @spinvest-leo?

Delegate to @spinvest-leo for rewards.

Posted using Partiko Android

Thanks, I will now delegate some.

If I delegate the LEO that I currently have staked, does that mean I will no longer get curation rewards on upvotes I make on posts that use the LEO tag?

Can you give an example of the returns in each situation for, say 500 LEO?

I don't know where to start to work out the difference. 😁

If you are actively curating with your LEO, your return will be higher. I'm at work now but I'll do some maths and get back to you tomorrow.

You are right, if you delegate all your LEO you will no longer earn LEO curation rewards.

I'll get back to you.

Posted using Partiko Android

Thank you!

I'm trying hard to educate myself about such things. 😁

Ok, so my LEO voting power is around 1000 LEO. My upvote is worth 0.293 LEO. 10 votes per day is 2.93 LEO half (roughly) for curation reward is 1.465. 7 days per week is 10.255. 1 LEO = 0.2 STEEM currently. STEEM Value of LEO earnings is 2.051. Delegated to spinvest-leo, that 1000 LEO would earn 1 SPI per week - STEEM value 1.20.

For 500 LEO, if you only ever vote for LEO tagged posts, your 500 LEO would earn around 1 STEEM worth of LEO each week. Or 0.6 STEEM worth of SPI.

So if you vote 100% for LEO posts, your better off not delegating. If your LEO power is not fully being used, you may be better of delegating.

Also, it is not an all or nothing proposition. You could delegate part of the 500, and keep some for voting for curation. Choice is yours.

I hope this helps you understand. This service offers a choice for people to use their LEO stake passively to mine SPI rather than actively curating. We also aim to steadily build the base of LEO tokens that @spinvest-leo owns over time.

Cheers,

JK

Thanks for the figures. I'll take a closer look at them at the weekend. I've no idea if my LEO power is being fully used but I would guess not. I'm not even sure where to look. 😂

👍👏🏻👏🏻👏🏻👏🏻🙏

Hi, I delegated 20 Leo last week but I’m not sure if it was spinvest or Spinvest-Leo. Can you check please? 🙂

Posted using Partiko iOS

Hi @fleur, I can't see the delegation on either account. Is it possible you delegated to @spinvest.leo instead of @spinvest-leo?

7A9B4E37-F1BE-4463-9038-ED829E5AC4F1.png
Here it is. I may have undelegated now before I found this but I can delegate again. Thanks