@spinvest-leo update 23 - Important details for delegators.

in SteemLeo5 years ago

Well this week has certainly been interesting, with the huge news of Tron acquiring Steemit inc casting a big shadow over the community. A lot is still to play out, and the future is unclear. One important thing to keep in mind, is that times of uncertainty also can be the times where opportunities abound. Everyone in @spinvest should be vigilant, and ready to move quickly to capitalise on opportunities.

Having said that, It has been a rough week for the Leo account. Earnings are down, the value of LEO has dropped significantly again, and we had to sell more than ever to cover our SPI payout. At the current LEO price we are paying out an ROI of over 70%. This is obviously not sustainable, and adjustments will need to be made. To come to that figure, simply look at how much it would cost to buy 900 LEO, and then what that would earn. E.G. 900 LEO at 0.08 STEEM/LEO is 72 STEEM. Payout over a year for that would be approx 52 SPI (1 per 900 per week) 52 income, 72 cost equals 72% ROI. Insanity really - no investment pays that.

Change to reward rate.

As a result of the drop in LEO, I will change the payout rate back to 1 SPI per 1000 delegated for the upcoming week. The current rate was set in better times and LEO has more than halved since then. I personally believe it is heavily oversold, and undervalued at these prices, but we need to adjust to market realities.

On to this weeks numbers.

  • Had to sell 875 LEO to cover payouts.
  • LEO income dropped from last week. This I am not 100% sure why, but will monitor and adjust voting paterns if needed.
  • New major delegation from mfblack.
  • Total delegations now over 83,000 LEO.
  • Even in these tough conditions, we still managed a profit somehow of 32 STEEM.
  • This weeks payout total is 92.61 SPI shared by 47 delegators.
  • Added SPT (Splintertalk tribe) income to the weekly report.

The numbers:

spinvest-leo update.JPG

Delegator payouts:

spinvest-leo delegators.JPG

Tagging delegators:

The mining payout rate changes from today to 1 SPI per 1000 per week. I will continue to adjust this as needed to maintain profitability. Rate is not guaranteed and subject to change.

@jk6276.leo, @shanibeer, @bucipuci, @oldmans, @preparedwombat, @underground, @silverstackeruk, @tbnfl4sun, @qam2112, @melinda010100, @no-advice, @welshstacker, @crypticat, @ronaldoavelino, @conradsuperb, @sames, @metzli, @mytechtrail, @elbrava, @lammbock, @ecoinstant, @silvertop, @elizabethbit, @banjocat, @cochiti, @coreyb, @cottonlion, @wapitielk, @steemitcuration, @yonnathang, @dera123, @invest2learn, @ecoinstats, @spinvest-neo, @ericburgoyne, @investprosper, @trafficinsider, @felander, @moderndayhippie, @kerrislravenhill, @bobby.madagascar, @tokengesture, @methus, @ekushya, @anouk.nox.spt, @mfblack, @hetty-rowan

If you have not heard of @spinvest-leo before, what we do is accept delegations of LEO power, and pay a weekly passive return with SPI (spinvest) tokens. The return is calculated on 1 SPI per 1000 LEO delegated per week (adjusted from today) Any amount over 10 LEO can be delegated, for a weekly payout. The asset base we are building here from surplus earnings above the mining payouts are added to the Spinvest asset base, increasing the value of the tokens you earn. We have branched out our voting and are earning curation income across a growing list of tribes.

Thanks to everyone supporting this program, especially the delegators. Don't forget, when making a delegation, please DO NOT put the @ sign in, it could cause a fork of the chain. (or at least the delegation doesn't work). ;-)

New delegations, or increased delegations always welcomed. You can delegate any amount, however 10 LEO would be the minimum to receive a weekly payout. If these are you first SPI tokens, feel free to ask any questions and check out @spinvest for more information.

Supporting the following accounts will support the Spinvest tokens growth:

@spinvest - the main account.
@spinvest-leo - this account.
@spinvest-votes - separate account to coordinate club member votes on a regular basis.
@spinvest-neo - Account for NEOXAG delegations.
Cheers,

JK - aka @jk6276, @jk6276.leo and other similarly named accounts :)

Posted via Steemleo

Sort:  

Well this seems like as good a time as any to double down. I know my delegation is only small time - but it all adds up right?

Posted via Steemleo

Every bit counts mate. Thanks for the confidence to up the ante in uncertain times.

Posted via Steemleo

A crazy week alright, sitting tight.

Posted via Steemleo

Crazy indeed - I guess that is all us little guys can do. Sit tight and hope for the best. I think this will be a net positive for STEEM as a crypto, and Steem as a blockchain, but who knows.

Thanks for the support.

Posted via Steemleo

As always, a solid decision. Thank you for the Good Work.

Posted via Steemleo

As always, appreciate your support. Short term pain for a long term benefit.

Posted via Steemleo

I always appreciate your hard work!!! We just keep moving forward!!!

Thanks for crediting the share. Hard times perfectly test functionality :-). Thanks for the hard work for the SPI community

Good post and great information.

I think you've made the correct call and reducing the payouts had to happen. Im not looking forward to doing tomorrow holdings post, lol.

According to the Bible, Charity Means Love (4 of 5)

(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)


Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to Thank you, our beloved friend.
Check our Discord Chat
Join our Official Community: https://beta.steemit.com/trending/hive-182074