PROJECT HOPE - Important changes related to our DELEGATION PROGRAM and TRX rewards
INTRODUCTION
Most Steemit users and project.hope members are already aware that TRX payouts (rewards we used to enjoy) have been initially paused and now it seems that they are a thing of the past. It has already been more than 3 months since the TRX rewards were claimed and reflected in our wallets. Most likely we will never see them again.
It had obviously affected many people as well, along with our @project.hope.
After all, our profits had been greatly reduced and the cost of delegators did not change. For those 3 months, we kept paying all delegators high weekly payouts, while taking losses every month on "our shoulders".
But we may not be able to continue since we've already been losing over 500 steem monthly. And taking this into consideration, today I would need to introduce some IMPORTANT CHANGES.
PROBLEM EXPLAINED in more detail
Unfortunately, it will be necessary for me to lower the weekly payouts to all delegators. As mentioned before - since TRX payouts were paused - we've been at a loss every single month.
In order to compete with the other delegation programs, we have been offering more than 100% payouts coming from manual curation. As a matter of fact, we offered on average 13% APR while manual curation can hardly get anyone 8-9%.
We could achieve that because people posting in our community are sharing part of their profits in the form of beneficiaries. So at the end of the day we used all curation rewards and funds coming from beneficiaries to offer solid payout to our delegators.
Since TRX rewards are no more - we've been taking a loss of 500-600 steem per month.
It is making it impossible for me to even try to get more delegators since it would only cause more losses. Our project came to the point in which GROWTH of project.hope = more losses.
And it is time to address this issue.
DELEGATION WEEKLY PAYOUTS
My goal is to ensure that all delegators will continue having solid weekly payouts while at the same time that Project.hope will not be losing its funds. At least I hope to be 'breaking even'.
Starting today we will be paying UP TO 11% APR to our delegators.
- BASE of 9% APR to all people who delegate minimum of 500SP to project.hope
- Those who delegate min 3000sp will enjoy additional 1% APR (10% apr total)
- Those who delegate 5000sp or more will enjoy additional 1% APR (11% apr total)
IMPORTANT REQUEST:
I am aware that some of you, dear delegators, may not be happy with that and may think about removing delegation. If that will be your decision then allow me to THANK YOU for all the support you have given us.
However, I would like you to consider keeping at least some small part of delegation and to continue supporting @project.hope. You'll still be able to enjoy weekly dividends higher than what you could earn from your own manual curation.
TO ALL @project.hope members and authors
It is expected that our initial voting power will drop since I expect some delegations to be removed, which will affect our SP in the short term. In the long run I will be able to seek new supporters, while knowing that our project economy is not causing losses any longer and is sustainable.
So my request is for you not to give up on posting, even if in upcoming weeks you will notice lower payouts.
Yours, @crypto.piotr
@project.hope founder
check out our PH community: https://steemit.com/trending/hive-175254
Just updated my delegation to 3000SP. It would be nice to get an upvote on @cyemela. I've been posting every week for years. Thanks.
@crypto.piotr
@ph-fund
Dear @crypto.piotr, please help me to grow. I am posting on @project.hope but not getting upvotes despite of adding @ph-fund as beneficiary.
Thank you very much for sharing this important information for Project Hope investors.
Indeed, the loss of the TRXs left a gap in the financials that allowed to maintain that high return to the delegators. Despite this, it is still the offered a good APR, as considering the current income, maintaining this return is not easy, but if it is possible, I hope that little by little more delegators will join.
Can i delegate below 500 sp ?
Hello friend, regardless that my posts are somewhat low due to the fact that the delegations to PH are going down, my support will remain intact, at the moment I have delegated 500 SP to PH, but even that quota I can increase it, I would like to talk to you by discord to establish the additional amount that I will be delegating.
The project has my support, I am just gathering the 500SP, if possible, can I delegate what I have in my account?
Project Hope still has my support. My delegation remains intact.
We will keep moving upwards and forward.
Do you have any news about TRX rewards???
Hello, Piotr, I have been trying to send you a message on discord but you have not been responding
I saw this post today and thanks for this update. I do understand the situation and will continue to support you.