Full Tutorial - How to Delegate SP to another user using the SteemConnect (And How to Undelegate Sp from another user)

in #steemit8 years ago

What will you learn from this article?

1. How to Delegate Steem Power to another user.
2. How to Undo Delegate Steem Power from another user.
3. What is benefit you can gain from Delegate Steem Power from another user?
4. What is benefit you can gain from other user Delegate Steem Power to your account?

So let we start it.
Do you want to Delegate Steem Power (SP) to another user or might to your friends but don't know how?
Its easy! The SteemConnect lets you delegate SP to another account without needing to run a complicated API tool!

So before you start using the tool, please read through the entire post and make sure you understand how it works. Some math is required..

1. How to Delegate Steem Power to another user.

Before you can delegate SP, you will need to convert the amount of STEEM that you want to delegate into 'VESTS'.
vest.png

As you can see in the red circle is what your vests are. [Take Note] You cannot delegate more vests then you have in your account.

Step by step:

  1. Go to https://steemd.com/ and lookup the number steem_per_mvests.
  2. Calculate (1,000,000 / steem_per_mvests) * amount_of_STEEM_you_want_to_delegate.
  3. Round/trim the number so you have exactly 6 digits after the decimal. Include all six numbers, even if the last one(s) are zeros.
  4. Make sure you have at least that amount of SP currently in your account powered up.

As an example, the current steem_per_mvests is 482.923. If you wanted to delegate 50 STEEM of SP to a friend, it would be (1,000,000 / 482.923) * 50 = 103536.174504.

I will be delegating to @steemit(example) and my vests for 50 Steem power are 103536.174504 make sure you have 6 digits after the decimal or you will get an error.

You will need to plug in 3 pieces of information into the URL:
https://v2.steemconnect.com/sign/delegateVestingShares?delegator=youraccount&delegatee=theiraccount&vesting_shares=N.NNNNNN%20VESTS

=> Plug in your account name in place of youraccount.
=> Plug in the account name of the person you want to delegate to in place of theiraccount.
=> Plug in the amount of vests you calculated in the previous step in place of N.NNNNNN.

Example :
https://v2.steemconnect.com/sign/delegateVestingShares?delegator=cryptonewz&delegatee=steemit&vesting_shares=103536.174504%20VESTS

Copy the URL that you used in the previous step and paste it into your browser.
You should see a screen that looks something like this:

xx.png

  1. Once you confirm everything look good, click on the "Continue" button.
  2. You will need to use your Active key to sign the transaction (warning).
  3. You should see a success message like this:

  1. You can verify the delegated SP shows up in your friend's account by plugging their account name into https://steemit.com/@accountname/transfers

Rules of delegating SP

There are several rules to delegating SP -

1.You cannot delegate SP that is being powered down. You can't power down delegated SP. You can, however, delegate a portion of your SP and power down the rest.
2.SP delegation works like a donation. The delegatee keeps all curation rewards.
3.Effectively, for votes made the delegatee, it would seem like they own the SP.
4.Delegators can cancel their delegations at any time, though it takes 7 days before they can use the SP themselves again.
5.You can only delegate SP you own, not SP delegated to you.

Currently, there's no easy frontend on Steemit.com or elsewhere to delegate SP. Probably isn't much of a priority for the Steemit team either, with Communities being the top focus right now. So, you'll either need to use a script or cli_wallet.

2. How to Undo Delegate Steem Power from another user.

  1. If you want to delegate more or less SP to a user, just delegate the new amount to the user. It will replace the previous delegation value with whatever the new amount is. (It does not add or subtract.) To remove all delegated SP from a user, just do a delegation of 0.000000 VESTS. After you un-delegate SP, it takes 7 days before you can use it again.
  2. You cannot delegate SP that is currently in the process of powering down. You also cannot start a power down with SP that is currently delegated to someone. If you power down from the Steemit.com UI, the only option is to power down 100%. I plan to post a guide on how to power down less than 100% SP soon, so users can still power down some of their SP while part of it is delegated.

3. What is benefit you can gain from Delegate Steem Power from another user?

  1. Boost Power Upvote to your own post or other user.
  2. Some people will take this advantage to make his own post look hot.
  3. Win win situation for both user if his upvote go to trending or hot section.

4. What is benefit you can gain from Delegate Steem Power?

1.Creating accounts with a lower fee.
2.Donating your SP to curators you trust.
3.Combining your SP from different accounts to a single voting account.

For most of us, it'll be 2. and 3. which are interesting. It allows whales to directly delegate SP to trusted curators, hence spreading influence far and wide. I fully expect this to become a trend once the payouts stabilise and a linear reward curve is rolled out. Hope this will open some new ideas to you.

Thanks for your time to read my article.

upvote.png

@cryptonewz

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I have made this a bit simpler: Simple SP Delegation UI. :)
The steemconnect automatically convert VESTS to SP.

quiet informative nice post, learned alot from it, thanku for posting, keep up....

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

Thanks for the picture!

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This post has received a 2.35 % upvote from @drotto thanks to: @cryptonewz.

This post has received a 79.94 % upvote from @khoa

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This post has received a 90.91 % upvote from @upgoater thanks to: @cryptonewz. Please vote @swelker101 for witness

Informative post but right now steem delegation is not easy for me.

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