You are viewing a single comment's thread from:
RE: We UPVOTE & RESTEEM to over 120,000 followers on social media and offer over 38.5% APR to Steem Power delegators!
Thank you for your delegation @jasonchick.
At this time, the bot only pays out whatever token it receives, and in the ratio that it receives. It does not have the option to payout in a specific predetermined token, and I am trying to keep this process as automated as possible. FYI, you do get a higher APR by lending the SP directly to the bot than through minnowbooster anyway.
However, you can just convert the tokens received to Steem if you prefer on a daily basis.
IMO, Minnowbooster's 10% fee is not all that high. Their service is really great for the community.
Okay, well hopefully @minnowbooster lowers their fee as IMO 10% is a huge fee for just connecting two people, over the course of a year, this high fee really cuts down on user profits and is very similar to typical centralized brokers.
I don't mind receiving SBD just wondering why your delegations done through minnowbooster are paid out with Steem.
So you don't do any flat rate leases with individuals? 3100SP leased for 100 steem each month?
Hi @jasonchick, it is minnowbooster that sets what token their loans are payed out in, and they set it to steem instead of sbd. That is not in our control.
We set the bot to payout to all delegators just so that we do not have to make custom leases with individuals. Simplifies the whole process for all parties.
I do agree that the 10% fee certainly can be felt, but keep in mind that minnowbooster does not have competitors yet. Once those start appearing, their rates are going to be more competitive.
Just to reiterate the point I was trying to make earlier, users that delegate directly to the bot get the same or better APR than doing it through minnowbooster anyway (no 10% fee, no 7 day SP return delay, and if the bot is used a lot, the APR surpasses the APR offered on minnowbooster by a lot), just that the tokens they get in the daily payouts are a mix of SBD and Steem, mostly SBD since most upvote bidders are sending SBD.
Please let me know your discord info. I will get in touch.
Yes I understand what you are getting at, just wondering if there are any fixed rate loans you do or if they are all variable.
My discord: miami (jasonshick)#4887
do you have a discord channel or anywhere we can have a conversation?