Hello @shortsegments

You really expounded the concept of delegation on steem so well. Thank you for this information. Prior to reading this post, I thought delegation was done with steem but after reading this post, I've learnt that it is actually done with steem power and that's where it's all makes sense.

Delegation is honestly the best loaning system I've ever come across. Someone with a lot of money he has no immediate plans for, say $400 buys steem worth of $400 (about 2400 steem), powers up and then looks for a good place to delegate it to. Each day the person gets at least 1 steem each day. In 30 days, that's 30 steem. No charges or transaction fees. Crazy stuff.

You know, I actually had $400 to spare in 2017. I was in the university then and got some scholarship grant from some oil and gas giant. I had already cleared my dues, I actually had nothing to do with the money then. Damn! if I get in that situation again, oh my!

The banks in my country refused to do a fixed deposit with that amount, they said it was too small. But over 90 days, I could have earned 90 steem or more and It wouldn't even have been a fixed deposit, as I could have my money withdrawn anytime an emergency arises.

Long live Defi!!

#twopercent #nigeria