A new financial product based on STEEM on Poloniex
The last few years cannot be called a period of rapid development of the STEEM ecosystem. Outside of our community, most people have forgotten about such a cryptocurrency. We are already used to the fact that when some new products and offers appear, they relate to other cryptocurrencies and we don't even expect anyone to pay attention to STEEM.
It so happened that I have been using the Poloniex cryptocurrency exchange since 2017. I can't say that it has any advantages over other exchanges, it's more a matter of habit. I used to do a little trading, but now I mostly use it to withdraw my earned STEEM.
Recently, when I was once again withdrawing some STEEM to my Poloniex account, I noticed that the exchange offers a new service for this cryptocurrency. It was a minor but pleasant surprise.
So what is this financial product? As you can see from the screenshot, you can now earn up to 5% per annum on the liquid STEEM held in your account. If we consider the proposal in a little more detail, we can see the following conditions:,
You get 5% per annum if you invest up to 1000 STEEM, and if the amount is more, then 0.5% per annum. At the time I found out about the service, I only had 49 STEEM in my account. I tried to experiment with this amount. So if I subscribe with 49 STEEM, I will get an additional 0.00671232 STEEM per day. If you activate the Auto-Earn function, the next day you will automatically subscribe with a larger amount of 49.00671232 STEEM and your investment will grow every day.
It should be noted that you can earn more from content curation. For example, let's take the account of a good permanent curator, which is @moecki:
He earned 244.58 SP of curator rewards for the week, with an Effective Power of 122,688.98 SP. It is not difficult to calculate that:
However, the financial product offered by Poloniex can still be useful. For example, if you are in club5050 and constantly withdraw part of liquid STEEM, but do not sell it, waiting for a good price, then your STEEM may not just lie idle, but make you extra money.
But what pleases me the most is that Poloniex did not just ignore STEEM, but spent certain resources and time of its programmers to develop a financial product for it, even though it has long been familiar to other cryptocurrencies.
Voted ... and curation rewards assured again ;-)
Thank you for mentioning the financial product. But also for pointing out that curation can also be worthwhile.
Many users forget this in the madness of having to write a post every day.
It's just important to make sure that the voting power (VP) is utilised and that it's not at 100% for too long, if possible.
As a witness, I have also planned a service that takes over the voting for a user if their VP comes close to 100%. The service has been running very reliably for me for some time now. Unfortunately, I can't find the time to implement it for my witness voters at the moment. But the plan is in place :-)
😃
You intrigued me. I have an account @steempromoution. Due to lack of time and ideas, I do not publish anything with it now. One day I got curious and tried the fan base service from bottosteem for this account. Not a bad thing. I wonder if what you came up with is similar?
I don't know because I don't know what bottosteem's fan base service is.
It's a good sign, isn't it?
You're absolutely right; not many people outside our community are familiar with this tokenSteem.
And with the current scenario...
I'm almost worried with this new dimension that Steemit is steering into... I've noticed that many talented authors are no longer investing their time and energy into their blogs. The team's focus appears to be split between SLE and the usuals, and this has definitely created a sense of demotivation among other users.
I feel compelled to address this issue in a detailed post, perhaps as a "swap post," to highlight these concerns. Who knows—maybe it will catch their attention and inspire some action. After all, a thriving community needs engaged creators to sustain its momentum.
You literally read my mind.
There used to be a period when curators 01, 02 supported dozens of authors every day. This gave an incredible impetus to the activity of authors and the creation of good posts (and bad ones too). This attracted the attention of many new authors and also brought back some of the authors from Hive. I think it was the most effective approach to community development.
For now, the Steemit team is really focused on the Steemit Learning Challenge. The contest does produce good posts, but homework, for example, is not interesting to read. It's a good competition. But the lack of support for authors who do not participate in it has produced bad results. Now, in my subjective opinion, many authors have reduced their activity.
I wanted to write a post about it, but it wouldn't be well received. It would look like another whining from someone who Power Downed and lost support 😆.
Congratulations!!! because your post has been upvoted by Team 7 using steemcurator09. Keep up the good work and keep making quality posts. Curated By @walictd
Binance також пропонує заробити, стейкаючи Steem і вдвічі більше - 11%. Але раніше цей відсоток був суттєво менший, вочевидь даввся взнаки старт бичачого ринку.
Непогана пропозиція, яка може конкурувати з курацією контенту. Мені колись було цікаво наскільки вигідно курувати контент. Я зміг досягти навіть 17% річних (отримані кураційні винагороди / ефективний SP), але завичай цей показник "танцює" біля показника 10 %.
Poloniex is a very good exchange especially for STEEM, they are not so strict in aspects like booting you off when you didn't use the site for sometime because of their terms of use.
With regards to these products you are discussing here, it is a good option to park some steem and earn a bit from their APY offer if you plan to sell it but not immediately. I don't know why the APY for larger amount of investment will have smaller APY though.
I agree with you, I am completely satisfied with this exchange.
In fact, this is some nonsense. They single-handedly scare away medium and large investors.
Congratulations!!! because your post has been upvoted by Team 7 using steemcurator09. Keep up the good work and keep making quality posts. Curated By @walictd