On March 4th, 2023, I announced an experiment of delegation to Ecency to prove that it’s probably the most profitable (in terms of APY) delegations feasible for a newcomer who posts frequently.
Here are the results of this week’s delegation with Ecency, and following this, a legend of the columns used, as well as a bit of analysis of the week:
Legend
Day: well, this one’s pretty self-explanatory. It starts the day after I delegated to Ecency so that there’s at least 24 hours permitted for rewards to kick in. It is a value used directly in the APY calculation.
Hive Delegated to Ecency: this is how much total Hive Power (HP) I have delegated to Ecency on the provided day. It is a value used indirectly in the APY calculation.
Average Hive Delegation to Date: this is the average of my delegated Hive Power (HP) to Ecency, current to the provided day. This gives an accurate value of how much delegation has been given over time, inclusive of all rewards (from Ecency Boosts and from other sources, including posts and comments). Since this value shows contributes directly to the rewards I get from Ecency, it is the most accurate value to use in calculating APY. Hence, it is a value used directly in the APY calculation.
Hive Reward: this is how much I have earned in rewards in HP from Ecency delegations on the provided day.
Total Hive Reward: this is how much I have in rewards in HP from Ecency delegations in total, up to the provided day. It is a value used directly in the APY calculation.
Hive Earned From Boosts: this is how much I have earned in rewards in HP due to Ecency boosts on the provided day, including the votes that come as a result of following Ecency’s curation trail (this value is approximate). It’s difficult to calculate earnings from promotions, and will not be included in this calculation.
Total Hive Earned From Boosts: this is how much I have earned in rewards in HP due to Ecency boosts in total, up to the provided day, including the votes that come as a result of following Ecency’s curation trail (this value is approximate). It is a value used directly in the APY calculation.
Hive Earned From Posts: this is how much I have earned in rewards in HP from posting and is inclusive of boosts and promotions, on the provided day. While I do reinvest this into Ecency delegations, it is NOT included in my APY calculation, as it is not an earning directly due to the delegation.
Total Hive Earned from Posts: this is how much I have earned in rewards in HP from posting and is inclusive of boosts and promotions, in total, up to the provided day. While I do reinvest this into Ecency delegations, it is NOT included in my APY calculation, as it is not an earning directly due to the delegation.
Other Hive Earned: this is how much I have earned in rewards in HP from other sources (i.e. comments, swing trades, etc.) on the provided day. While I do reinvest this into Ecency delegations, it is NOT included in my APY calculation, as it is not an earning directly due to the delegation. I have also come to realize that this is the most inaccurate and inconsistent column I have – please regard it only as a very, very rough estimate.
Hive Reinvested into Ecency Delegation: this is how much Hive I have reinvested into Ecency delegations on the provided day, and is all-inclusive (since I reinvest earnings from posts, comments, etc.). Its only relevance to the APY calculation is that it brings up my total amount delegated to Ecency. That particular aspect is included in the “Hive Delegated to Ecency” column.
Hive Earned APY To Date: this is the calculated APY based on the “Average Hive Delegation to Date,” “Total Hive reward,” and “Total Hive Earned From Boosts.” This provides a fair calculation of earning which are directly due to Ecency’s rewards (in Hive and boosts), while taking into account the growing delegation and changes in rewards over time. The APY is recorded on a daily basis and will paint a more accurate picture with more time. Some initial values (after the rewards from the initial boosts come in) may be outrageously high due to boosts from preexisting Ecency points (I had >3500, which is equivalent to 23 boosts, or <23 boosts + more promotions); these are accurate values but skewed due to the small time frame. They will become more accurate and reflective of reality over time. There is also a 7 day delay in some earnings, which may further skew the APY. While reinvestments from non-Ecency sources (i.e. posts, comments, trading, etc.) may cause the APY to appear larger, using the “Average Hive Delegation to Date” as a divisor compensates for this effect, thus giving a more accurate APY that’s a result of only Ecency delegation. It is the most fair divisor to use in this calculation because it accounts for changes in delegation over time, is a direct contributor to subsequent delegation rewards, and accounts for reinvested Hive Power only after it has been delegated to Ecency.
Total Ecency Points: this is the total amount of Ecency points that I have available on the provided day. Note that I begin with >3300 points, which is equivalent to 23 boosts, or <23 boosts + more promotions. None of these are used in calculations, but rather as a tally so that conversions can be better understood.
Ecency Points Earned From Delegation: this is the amount of Ecency points that I earned on the provided day. None of these are used in calculations, but rather as a tally so that conversions can be better understood.
Total Ecency Points Earned From Delegation: this is the amount of Ecency points that I earned in total, up to the provided day. None of these are used in calculations, but rather as a tally so that conversions can be better understood.
Daily Ecency Points Earned (All Sources): this is the amount of Ecency points that I earned through other activities (commenting, voting, posting, etc.) on the provided day. None of these are used in calculations, but rather as a tally so that conversions can be better understood.
Ecency Points Spent on Boosts / Promotions: this is the amount of Ecency points that I spent on boosts and promotions on the provided day. None of these are used in calculations, but rather as a tally so that conversions can be better understood. Looking 7 days ahead to the HP earned in boosts will reveal how much the points translate into HP.
This Week’s Earning Analysis
This week, the results seem to be falling into proper place after returning my delegation to the correct value (rather than the accidental 2.6 HP from last week!). The APY to date as of the end of this week is 121.63%.
Bringing back the correct delegated Hive Power certainly decreased the return percentage as the average amount delegated over time returned closer to its intended original value. There were several rewards, and over time their impact lessened, which is consistent with mathematical laws of averages. Some of my rewards were also lower than they should have been, as I accidentally didn’t power up 100%. Thus, the APY I have recorded is actually understated.
Day 15 I was able to delegate the correct full amount back into Ecency. The bug was fixed! The Hive reward was low that day because it came in before I redelegated, and the Ecency points earned from delegation were higher because they came in after I delegated the proper amount. You’ll also notice that my Hive earned from Boosts is uncharacteristically higher; this is because the Boost from the week prior was for 200 points rather than 150 Points. You’ll see this pattern emerge as long as I continue successfully receiving higher Boosts. However… higher Boosts means it takes more time to recover them! I happened to successfully use a 250-Point Boost on a post that day, so this will take a while to recover.
Day 19 you’ll notice that I have a bunch of “Other Hive earned” compared to other days (not an accurate figure, but definitely higher than other days). I had converted some HBD into Hive the prior night and decided to power it up and reinvest just a bit under 10 Hive into the Ecency delegation.
I didn’t make any other posts this week because I’m trying to build my Ecency points back up. This is an expected consequence of the amount of Ecency points that I’m getting back from the current delegation, and is augmented by being active on Ecency (comments, votes, and time spent logged in).
In brief, this week showed more stabilization of the APY and was an experiment in trying out higher Boost amounts, and showed the difficulty in manual collection of Ecency points. You definitely have to be quite active in order to get a great APY!
It should be noted that my medicine-themed posts have @stemsocial as a 5% beneficiary, and all of my posts now have a variable percentage as a beneficiary to @hive-140084 (the FreeCompliments community; these rewards will be used as a reinvestment vehicle and as a reward pool for everyone who posts and comments in the community, except for illegal content, and threads about the community!).
I hope that you’ve found this analysis informative. While it is not financial advice, it may be useful as a methodology of calculating your own returns on various projects on the Hive network.
Here are the prior weeks’ posts for further reference:
Week 1
Week 2
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