Finally I Got My Shit Together
A few days ago I drained my Hive VP (Voting Power) to below 10% levels. 😂 Normally my VP stays above 50 but even that is ridiculous. Your VP on Hive should stay above 90% if you want to make the most of your curation rewards. By draining your VP, your vote value goes low and it takes forever to recharge. This is not the first time it happened to me. But it was a trigger to try out a solution.
I normally use LeoFinance to curate posts but the thing is that even if I select 50% VP on LEO, it gives out a 100% vote using HP. So my Leo VP used to deplete slowly as compared to Hive VP. Believe me, it's not a great situation to be in. You want to save your HIVE VP as much as you can if you want to give out upvotes that matter. Especially when you are a small account in terms of Hive Power.
I am only a dolphin and most of my Hive Power is delegated to projects in exchange for Hive & other tokens like LEO & BRO. So saving my little VP is quite important for me. I already knew about the Vote Weight Multiplier feature on LeoDex but never really tried it. Because I never took out the time to understand and experiment with it.
In this blog, I will give you a short tutorial on how to use this amazing feature created by @leofinance team.
STEP 1: Go To Leodex
Then login with Hive Keychain and click on the "Rewards Tab as shown in the below screenshot. It is located at the top of the Homepage once you are logged in.
Under "Rewards" tab you will see a list of Tokens and their pending rewards ready to be claimed. Just ignore that and look at the button with the "Flash" icon against each token as shown below. Click on that please :)
STEP 2: Set Vote Weight Multiplier
As the name suggests, the vote weight multiplier (VWM) value decides the weight of your LEO vote w.r.t the weight of your Hive vote. Confused? I was too. But not anymore.
Let's just say you want to Hive vote 5% and Leo vote 15%, then your vote weight multiplier should be 3. This is how the equation works -
Hive vote weight (in %) x VWM = Leo vote weight (in %)
At the end of STEP 1, you will see the below screen. You can choose to select the multiplier value that suits you best depending upon your Hive & Leo stake. For me, it's 3 right now. I might change it as my stake grows in both Hive & Leo.
Please note that you must use hive.blog or peakd.com to upvote through your HP. If you make a 15% Leo Vote (or any other %age) via LeoFinance.io, it will be 100% Hive vote. I hope they do something about it in the future! That's it folks. Let me know in the comment section if you use this feature and what VWM value suits you.