Yes, it makes Steem more flexible. Now that you mentioned it, I can see two levels of Power Up, one with power down in 2 years and one with power down in 3 months. With different levels of interest and Rshares power, of course. But maybe this is too complex.
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That's an interesting idea, tying interest & voting power to power down lengths. Taken to extremes, I can imagine a sliding power down scale where you could just input a desired duration. Maybe the system would let you alter your choice, say, once a month, and that would change your interest & voting power accordingly (by the way do we still get interest? The only real accumulation I see is from curation rewards).
I think the interest on Steem Power isn't there anymore, that's just inflation, 9.5% per year but I may be wrong.