I feel it's time for another VIPS report as it has been a while. What's VIPS I hear you ask? Well this is my solution to giving out rewards while I continue to build my stake. VIPS literally are votes as tips.
Each week I set aside approximately 5-10% of my post rewards and give them out as tips to posts and comments that are deserving of support. The reason I employ this approach is that I am currently using a lot of my stake for delegations, in return I receive vote support, and so my vote power is limited.
The rationale which lies behind this decision is based on a determination to build my stake. In return for my delegation I receive vote support, as well as token and Hive drips. All of these combined returns helps me to grow my stake quicker. Once I have reached the HP threshold to give out a $0.15 vote I will no longer need to use a lot of my stake for delegation purposes.
However, in the meantime I want to give rewards to people, not only to the ones who have supported me since joining Hive but I also want to reward high quality content and support the community. Therefore this is why I use 5-10% of post payouts to feed back into the tips as votes initiative.
Keeping within the blockchain spirit of transparency and openness, since the last VIPS Report I have given out a total of 4.8 Hive in VIPS. I appreciate this actually isn't too much in the grand scheme of the whole game but as you know I am in the process of building up my stake from nothing and trying to get to a position where I can give out a meaningful vote to the value of $0.15.
I hope you can appreciate my strategy with the VIPS approach, it's the most optimum way I can give out something bordering on a meaningful vote while I continue to build my stake.
Keep enjoying the VIPS!
Peace!
I feel so cool for being into your VIPS club everytime 😎
Lol! Awesome gif! You probably should be more prominent in my VIPS club to be honest but as you know it's a tough grind for us people lower down the Hive ladder.