Changing My Staking Strategy
Just eight days ago, I achieved my 50 million $SPORTS staking goals. However, though I said that I am fine with a small number of curation rewards from SportsTalkSocial, I am now having a second thought after comparing today's yield with four other Hive Engine tokens such as $LEO, $CENT, $LOLZ, and $DRIP.
Token | USD Value | Today's Yield |
---|---|---|
$LEO | 296 | 0.227 |
$SPORTS | 257 | 0.073 |
$CENT | 118 | 0.6349 |
$LOLZ | 3.23 | 0.075 |
$DRIP | 12.92 | 0.078 |
The above yield does not automatically come from my stakes, particularly in the case of $LEO for I have a delegation of 200 HP to @leo.voter. In the case of other Hive Engine tokens especially $LOLZ and $DRIP, the difference both in the USD value of my stakes and yield is huge. Imagine that a 3.23 USD value of stakes in $LOLZ ( I might be inaccurate here for I still don't understand how the tokenomics of $LOLZ works) and a 12.92 in $DRIP can give a higher yield than the 257 USD value of stakes in $SPORTS. That's the reason why I am changing my staking strategy.
Nevertheless, I still believe that creating and curating sports-related content is very promising. However, my priority now is finding the fastest way to grow my Hive account. As such, I decided to maintain just 3 million $SPORTS in my delegation to my wife's account. The same case with my wife's account. I decided to unstake 7 million $SPORTS and will keep a small amount of stakes. Whatever curation rewards I will receive, I am also going to keep it.
As for the $HIVE that I will be getting from selling my $SPORTS token, I am thinking of adding more stakes either to $CENT and $LOLZ, or I can also consider $DRIP and $POB.
wow u have a lot of sports token not even sure whats the use case for that one
Well, the token is used as a curation reward and I can exchange it for SWAP.HIVE. That to me is enough for now.
i see but if u hold hive u also get curation reward in hive?
But the yield varies and that's why I am doing a trial and error. I think the $CENT tribe is giving a higher yield. I will try $POB next. $LOLZ and $DRIP too are giving better yields from staking rewards.
i see that makes sense. are u unable to see the % yields before doing them?
Yeah, except for the market price of the token, I have to test how the tokenomics of each token affects the yield.
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!LOLZ
i see. sounds too troublesome for me. good luck figuring it out tho!
😆
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And besides, a small account does not have much voice on Hive in terms of curation rewards. Better to find a tribe where your stakes can give a higher vote and also receive a higher curation reward.
what do u mean here by higher vote?
Say, for instance, my 50M stakes in $SPORTS gave me the ability to upvote content with 5k plus $SPORTS and I will receive half of that after 7 days. The same thing with $CENT. My 100k plus stakes is giving me the ability to give 25 $CENT plus upvote. After 7 days, I can decide whether to exchange them for SWAP.HIVE and power them up, which I have been doing for a week now, or I will just stake them to grow both my $SPORTS and $CENT power.
so your upvote is in their token?
Yeah, that's how it works. Though you only have 10 $HIVE Power, if your $SPORTS Power is 50 million, then by curating sports-related content, you are actually distributing a huge amount of $SPORTS. The only downside is the market price of the token, but it is fine with me.
i see. that seems limiting tho if u have to curate sports content?
Yeah, because I don't have the cash power to boost my wife's account, and that's why I need to be strategic to use my wife's account just to curate content in SportsTalkSocial.
If only you can convince your wife to invest on Hive tribes or Hive itself, then you won't have to think much about investing your own money. 😎😏
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Hope that you have enough cash power to Power Up at least 10 HIVE this Hive Power Up Day! 🤗😆
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If you believe that the price of CENT will return to its peg of $0.01 each sooner or later, then it is better to stake it than sell it for HIVE. 🤓 #NotFinancialAdvice 😅
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Interesting. I haven't calculated the yield on staked CENT yet, but it's quite nice. Of course, CENT is staked and not liquid to receive it.
It was actually bigger during my earlier months on $CENT, but I was still in the accumulation stage at that time.