What's going on with the leasing market since HF21?
Hello peoples, over the past week since HF21/22 happened i have noticed that the dlease market has dropped off bigtime with avg rates going from 20%+ to about the 16-17%. The thing im not understanding is if users are now earning almost double from curating then why is the cost to lease SP cheaper? I honestly thought it would have gone the other way. I thought after HF21, demand for SP would have gone up. My guess is i have missed some piece of information that would explain this but in my head, demand for SP should be higher after HF21.
Normally i would not care that much but im filling lease requests for @spinvest and dlease was an easy way to make new leases everyday. Someday's there might be 200 tokens issued and we fill a lease for 250SP and other days might see 2000+ tokens issued which would filling a request for a few thousand. I can still get a 20.8% rate from an uncapped off market lease so im not losing anything but we have agreed to do it in 2500SP chunks to keep pricing and payments easy. This means, @spinvest needs to save up 2500SP each time, not that it takes that much time. It's took 4 days from the last delegation to sell 2700 STEEM worth of tokens so im really just moaning. I just like to have the option for both, im a greedy twat.
What do you think? Curation rewards almost double and the cost to lease SP goes down? Is that right?
Again, maybe i missed the memo
I think it might be a reduced demand from bidbots. Helping lower the market a bit before curators see the benefit of leasing more to grow. It might be temporary, could overtime keep dropping. The 10 cut to development fund also impact profitability of taking a lease.
Posted using Partiko Android
Yeah, i had thought about bidding bots not renewing are looking for new lease's. I guess time well tell.
If rates drop a little, then I would be interesting to lease a bunch and grow via curation.
Have a read of my latest post mate. There are some charts in there plus an explanation of why the lease market is affected post HF21/22.
Checked it out, i actually read a few of the posts, lol.
Sorta makes sense, I'll just need to wait and see what happens but i'll keep steemin on through all.
Thanks man
I am pretty sure things will even out eventually. I think a lot of people will start picking up leases soon, they are just waiting to see how everything evens out first. I know I plan on picking up some delegated SP soon and I know some other long time steemians that are planning on doing the same... One thing that crossed my mind is that the any of the newer steemians don't really know about leasing delegation because for more than a year it hasn't really been worth it for the average steemian to pick up a delegation unless they plan on using every last vote!
Just give it a month or so, people need to see more posts like this to understand what is going on. I also did a video earlier this week talking about delegations and where I think they are going.. Shit just takes time my friend.. Sit back, smoke a doobie and chill ;)
Thanks for the great comment man, i hope your right and things pick up again. I'll take your advice and smoke a spliff and chill.
This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.