Current STEEM Power interest rate calculated / APR Jul-2017
Steem Power increases your voting power significantly. There is however also a second benefit of Steem Power. It generates interest.
In older articles from a year ago you can read that the percentages were enormous. Amount of 5% per week were mentioned, which sounds amazing but is not something I was seeing on my Steem Power amounts.
I asked around and made a post, to ask if anybody knows the current interest rate on Steem Power. Although I got some nice reactions from other people who also would like to know, nobody provided any answer. I also asked some older community members through steem.chat and discord. Most didn't know and some of them stated that they believed an older Hard Fork had switched it of.
So I though let's just check. So I didn't touch my Steem Power for 12 hours and looked what happened:
- Mon 3-Jul-2017 19:46:00 CET: 406.978 STEEM as Steem Power
- Tue 4-Jul-2017 07:46:00 CET: 406.989 STEEM as Steem Power
So a gain of 0.011 STEEM in 12 hours on 407 STEEM.
To calculate this back to an annual rate: (1 + ( 0.011 / 407) ) ^ (365*2) = 1.01992.
So the APR interest on Steem Power at the moment (Jul-2017) is 1.993% on an annual basis.
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This is not a large amount but it is much more than what I am currently getting on by normal bank account at the moment. I will definitely keep an eye on any movements on this rate and also want to dive into the code to understand what factors influence it. So keep your eyes open for future posts with more information if you're also interested in this.
you're making steemit a great community with your content cantribute! keep it up!
Thanks SteemKing
That's really cool! It's a decent rate if you compare with the standard savings account...btw, I think you meant to write the second date as Mon, 4 Jul right?
Lol. You are right, that is a copy&paste mistake. Will correct it right away. Thanks!
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Thanks for sharing! Didn't know this :-)
Thanks!
Nice informative post. Thanks. Stuff like this is helpful to those of us still trying to get our heads around all the ins and outs of this platform.
Thank you. I believe this is what Steem is all about sharing information and learning from each other :)
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by cantribute from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Thanks for calculating this out. I thought they had decided on 5% a couple hardforks ago, but I guess they have changed it since. There is an annual percentage rate listed on the steemd witness page, but I believe that in the interest on SBD. Anyways most witnesses have set it to 0% now.
I also could find the SBD rates, but nothing about the Steem Power rate. I am interested if you can recall where you got the 5% from, as I have not come across it so far ....
Very cool, thanks for the report.
Very nteresting article ...resteemed (can't upvote much , I'm just a newbie)...and oh, I followed you back.. thanks @cantribute !
Hi @mers here once more... I resteemed this post of yours.. how come it does not appear on
My site? The green arrow turning right is there though... please help .. are there restrictions on resteeming?
Thank you for the feedback, it is always appreciated! (btwa nyone can upvote, it is the thought that counts :)
Thank you for figuring this out! Been looking for an answer for a while
My pleasure. I will see if can do a re-calculation soon
Thank you.