Lions,
We've been needing to build a new HIVE POWER delegation system for a while now. Our last script and system for this was dated way back to 2020. It ran very well for a number of years but became unstable and led to:
- Missed payouts
- Improper calculations
- Lack of flexibility/ability to upgrade
With LEO 2.0, we've radically changed the entire LEO Ecosystem. There are so many upgrades and completely new modalities of operation for our economy. We've been writing and releasing a series of posts spotlighting each change, one-by-one.
In today's spotlight, we'll focus on the new delegation system for @leo.voter HIVE POWER delegators. Our new system:
- Is robust and can never miss a payout. It will retry every 1 hour after the first payout time (12:00 UTC)
- Calculates APY with 100% accuracy and in real-time
- Fairly adjusts to delegation size (the smallest and largest of delegators can earn equally from this new system)
- Pays entirely from LEO buybacks made by @leopool and the new SIRP model we've implemented in LEO 2.0
Why Delegate to @leo.voter?
It's been a while since we've made a blog post about @leo.voter delegations in general. Let's start with the why:
- Earn 16% APY, paid daily - our new delegation system returns us to the old "earn 16% APY" model. In this model, everyone receives liquid LEO and a flat APY of 16%. This is more than 2x what your average HP curator makes on their own and double digit % greater than any other delegation service pays out. We are able to achieve this because of our LEO token economy that is funded through various revenue buyback mechanisms (LeoDex, Premium, Creator Subs, LeoAds, etc.)
- Support INLEO Creators and Threaders - 100% of our @leo.voter curation is done by hand. Our team is reading blog posts and threads and going through 1-by-1 to support creators and curators on the platform. This drives more usage of INLEO which leads to more revenue capture (via LeoDex, Premium, LeoAds, Creator Subscriptions, etc.)
- Earn LEO - in LEO 2.0, earning LEO has become incredibly difficult. There is now 0 inflation and 0 block rewards. The only way to earn LEO is through the buyback-driven pools (SIRP stands for System Income Rewards Pool). Our new Rewards Pool model extends to the new system for @leo.voter HP Delegators who now earn entirely from LEO buybacks. Getting paid in LEO means getting paid a token that is rising in value over long periods of time as there is built-in demand from the buyback pools and a dwindling supply from the burn mechanisms (bridge revenue burns LEO)
How the New Delegation System Works
The new system for @leo.voter HIVE POWER delegators is robust, more profitable for delegators and pays entirely out of a buyback-driven pool since there is no more inflation on the LEO token. This means that the payouts you're receiving (liquid LEO, paid daily) are likely to outperform the HP you delegate. This leads to greater profitability over long timeframes (i.e. if you get paid liquid LEO daily and sell the rewards after some length of time - a few days, a few weeks, a few months, etc. - we expect the APY of 16% to be surpassed significantly. North of 20% on average wouldn't be a bad guess).
Our new delegator system is built on a buyback pool. @leopool buys back the LEO token off the market using inbound revenue from the INLEO Platform (Premium subscriptions, creator subscriptions, curation rewards, Beneficiaries income, LeoAds and other forms of income we build in the future). Then, @leopool funds the @leo.bounties account. The @leo.bounties account then pays delegators on a daily basis from the buyback pool.
Each day, the system we've built does the following:
- checks the current @leo.voter delegator list and the current price of LEO / HIVE. It then formulates what 16% APY, paid daily would be for the total delegator list
- send this total amount of LEO from @leopool to @leo.bounties
- @leo.bounties pays this pool of LEO at 12:00 UTC every day to the full list of delegators
This solves many of the issues of our old system and also brings and era of LEO 2.0 to the delegation system (buybacks-driven, no more inflation):
- No more missed payouts
- Predictable payout structure - liquid LEO is sent to your account at 12:00 UTC every single day
- LEO price will outperform - buybacks driven, not inflation = LEO rising over time = more profitable in longer timeframes
The Best Use Case of HIVE POWER
If you support INLEO and believe in our ability to grow this platform, the LEO token economy and continue to reward the authors and threaders on it, then delegating HIVE POWER to @leo.voter is the best use case for HIVE POWER.
- 16% APY, paid daily as liquid LEO tokens
- Predictable payouts (12:00 UTC every single day)
- Totally automated, 0 work required. Just delegate and start earning the same day
Shoutout to @theguruasia, @ali-h and @uswap for helping with the new system for delegator distributions. These guys are awesome and one great way to support them is to use @uswap and their interface for bridging SWAP.HIVE <> HIVE.
FAQ
Were Old Payouts Totally Remediated?
Yes we concluded the remediation of all old payouts. This is why some delegators noticed they were getting paid LEO even months after their HP Delegation ended on the old system. We waited for this to conclude before transitioning to our new system. We know the old system was inconsistent but we always had the ability to pump extra payouts in.
The new system ensures this isn't necessary. If it isn't paid at 12:00 UTC (nearly impossible), it will retry every hour until it is paid. NO MORE MISSED PAYOUTS is the theme of this upgrade. It was my #1 priority.
How Do We Curate Users?
We manually curate content creators and threaders on https://inleo.io. None of our curation is done automatically, it is all by hand as we sift through content on the platform daily.
How Do I Delegate & Earn 16% APY on My HIVE POWER?
Easy as 1-2-3:
- Delegate HIVE POWER to @leo.voter
- Start earning liquid LEO the same day at 12:00 UTC
- Done.
Other Questions?
Drop a comment below and we'll swing by to answer.