Now that the LeoFinance tribe has finished its migration to HIVE, it is time to restart the @spinvest-leo account. All the uncertainty and complications for tribe tokens has meant I basically have put Spinvest-leo into hibernation for a few weeks. But now its time to get back to business - but with a huge change.
All LEO Delegations to @spinvest-leo were cancelled.
Right now, @spinvest-leo has no incoming delegations. With the transition to HIVE, it seems that all delegations were cancelled.
No more delegation rewards.
I am going to take this opportunity to end the delegation reward program. While I really enjoyed sending SPI tokens out each week to delegators, It became a massive chore. I made it worse for myself by trying to cover a number of different tribes. This worked in terms of building token income through curation maximizing, but added little real value to any of the tribes I targeted. The cancellation of all delegations give the opportunity for a fresh start.
Please do not delegate to @spinvest-leo again. I do not want the responsibility anymore of looking after delegations, or the added pressure (mostly from myself) to generate a good return. I also do not want to be tied to several hours of work each Tuesday morning calculating returns, sending rewards and so on.
Self sufficient and focused.
It is my intention to use the LEO token holding remaining in @spinvest-leo to support LeoFinance content creators. This account holds 11,134 LEO. I've reset the Auto-voter using the Rewarding service. This will mean slightly lower curation rewards for LEO tokens, but will be a more sustainable model for the long term. My goal is to keep this as simple as possible.
Other tokens still on Steem Engine or transitioning will no longer be a focus and will be sold off or transfered to other parts of Spinvest if needed. The only other tribe token I think I'll hold onto will be CTP. It has already transitioned to HIVE, and has a working use case which makes it stand out for me. Once the LEO account is running smoothly and without needing a lot of input, I may set up a similar program with a new account for CTP.
The plan is to steadily build this account up, with more HIVE and LEO. A portion of the income will be sent to spinvest each week, and the rest will be reinvested either in LEO, perhaps LEO miners or HIVE.
Thanks.
Thank you to everyone that delegated to help build this account. If you have LEO now and are not sure what to do with it, following the votes of @spinvest-leo will ensure your LEO is being put to work and will support the content creators of the LEO tribe. I really appreciate the trust people put in me by delegating your stake, and hope you all understand this new direction.
Next week I'll restart the regular weekly updates.
Cheers,
The change of direction is understandable. Thanks for all your efforts when the tribe was just a baby.
As for the new direction of curating consistent content, excellent news. As a LEO content creator myself, I’m always happy to see the bigger accounts focusing on meaningful curation.
See you around ✌🏻.
Hey @forexbrokr, thanks for the comment. I'm looking forward to the new direction, and will spread the VP around. It's not as strong a vote as it used to be, but will hopefully grow and contribute organically over time.
Cheers mate.
I've always loved watching the evolution of this project. I think this whole situation has given us all some time to take a step back and gain some perspective while starting a new journey.
I definitely like the idea of a @spinvest-leo curation trail. People ask me all the time about finding a trail to follow. This will be a great place for me to send them ;)
Hi @khaleelkazi, your support and encouragement from day 1 has been most appreciated. congrats on getting everything shifted over now to HIVE so we can all move forward.
I'll rebuild the curation efforts and if anyone needs someone to vote trail, Spinvest-leo will be back to 100% focused on LeoFinance content.
Thanks mate.
JK.
It's about time, thank you.
Thanks for understanding. Time to get back to work.
This sounds like a good way forward - and the opportunity to trail is great for passive hodlers like me :)
Enjoy your Tuesday mornings!