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,