There are a good number of people who lease Hive Power to Precious for a great rate of return. Most of them are members of SGS and currently all of our lease agreements are on handshake deals. It works great most of the time, but sometimes it doesn’t. The basic terms of our leases are 13.5% APR paid weekly in advance with a minimum of 5000 Hive Power leased...though there is a little bit of assumed etiquette that goes along with this type of deal.
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Firstly, our leases are managed manually by yours truly. We are a fairly small and niche community with a modest membership so it has never really been worth the extra development and support to try and automate the weekly payments or monitor the delegations. At SGS that is kind of our style because we’re typically generous by nature and like to foster goodwill. I believe that the handshake deals we make are a good, visible example of our communities culture.
However, there are times when one of our lessors decides they need to pull their lease and that is totally OK. This is where the etiquette comes in though. Most people will give us a heads up that they need to pull the lease and we co-ordinate the timing of the un-delegation and the final payment balance. Often there is someone waiting in the wings to lease fresh power to us so we can sometimes co-ordinate that too and keep a stable HP to curate with. This gives our community a pretty seamless experience and often they don’t even notice the change.
Other times though, people just pull power with no notice and we eventually realise our power has dropped. I then go back to find out who, where and when it dropped. That’s annoying, but it’s even more annoying when power gets pulled just AFTER the Weekly Delegation Payment has gone out. That payment is paid in advance so this is just a straight up breach of goodwill and trust. People who do that and don’t make good get remembered.
To be fair our members are usually really good and they understand and respect what our curation project does for the SGS community. It’s usually people outside of our community that we have a problem with.
Unfortunately we aren’t always able to source the spare Hive Power to lease from within our SGS membership so we have to go outside. While I am reluctant to add more management overhead maybe it’s time to bring in a second, lower APR for non-members and introduce some additional terms on those agreements to protect the communities interests. What do people think?
I am a delegator to Precious but have never posted in the community so I assume I am not a member (not sure though). I understand that giving a notice before delegation removal helps and I assure you that I will notify you when I plan to do so however I have no plan to undelegate as I enjoy the awesome reward that you pay every week.
I would like to know the process to become a member and will see if I can meet the requirements to become a member.
We do sincerely appreciate the support from yourself and other non-members. Most of our lessors are great people and understand basic etiquette and courtesy. You can read more about our membership process HERE
If viable I don't see why not. Maybe somehow link it to the precious token and a partial payment done in that?
An other suggestion. Maybe use discord for a shoutout to all sgs members to ask em to upvote the precious gem comment? I am trying to do that lately, just a small vote but if we all do it I guess it might add up :)
It all helps. I am a bit wary of asking too much of the members, but anyone can do a shoutout.
It's a great idea, I did it for a bit and then I forgot but will start doing it again! It's a small return of favour in the end.. Every bit helps after all..
Good Idea, I did that for a bit and then forgot lol. Will start doing that again!
I'm with you all the way on this!
That’s total bullshit, how can you pull your delegation without telling the person you are delegating to? That’s such crap.
In my opinion non SGS members shouldn’t get the same return on it anyway. Just my 2 cents.
I hear you brother. Always like to give members the extra benefit but we did struggle to find enough power to lease after the last fundraiser. Would still rather have non-members than have to use dlease or some other escrow facilitator (who also takes a cut).
I get it. You know what’s best.
It's just plain rude to pull a delegation without prior notice, some people don't have common courtesy. I think it's fair to give a higher APR to members vs. non members.
Yanked without warning and dashing off with the advance, not cool.
I can spare another 2,500 to 3,000 HP if you need it @buggedout
We're still doing OK. We're kind of in a tapering phase anyway with enough funds to last another month or two before needing any fundraiser. I just wanted to make a post without naming names so that people have some awareness.
I'm not opposed to that. I think there are a lot of people that would rather lease out their power than spend time curating. As long as it isn't going to be a ton more work for you, it should benefit the community.
I'd agree with a lower fee for non-members. Maybe not too much lower or that will lead to jealousy and people begging to become members, but a few % points lower maybe. Also, why not pay out after the week instead of before. I think none of us would complain about that.
Also, as @trumpman suggests, I'll start trying to upvote Precious comments when I see them and remember.
Just holler!
Makes sense SGS members are solid, we need a different protocol for outsiderdelegation since their character is not verified like it is with our members
Good idea… non-members = lower apr !
That's just so greedy if not accidental
!pimp
You must be killin' it out here!
@trumpman just slapped you with 5.000 PIMP, @buggedout.
You earned 5.000 PIMP for the strong hand.
They're getting a workout and slapped 2/3 possible people today.
Read about some PIMP Shit or Look for the PIMP District
I think it would be beneficial. I'm not sure how Hive-Engine does it, but I'd also stipulate payment after the delegated time period has elapsed, rather than before, unless it's going to be on a daily basis and can be tracked to automatically stop paying out when a delegation is pulled.
!hiqvote
Better do not pay in advance and try to code things and automate it. That will also ease the manual work. In any case, basic etiquettes are needed be it engagement or delegation.
Thanks
When APR is found, it is a good thing for people because they are holding their things for a long time and they get some good profit there.
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