Cool Steem Resources: Steem Power Delegation Manager
While you may not have any use for this great tool yet, you may one day.
Created as part of the Steembottracker.com website by @yabapmatt, this tool is amazingly useful and easy to use if you ever want to delegate Steem Power to another account, or have someone delegate steem power to you.
Steem Power Delegation is a way for you to lend out your steem power to another account. Because Steem Power is vested and therefore not a liquid asset (meaning you can't just cash out Steem Power without first powering it down into Steem), Delegation of Steem Power lets you virtually transfer the Steem Power to another account.
There are a few caveats that one should be aware of when delegating Steem Power:
- If you un-delegate any amount of Steem Power back, that amount is locked for 7 days before it can be delegated out again. The is done to prevent the obvious abuse that would occur if someone could move around Steem Power all day to different Steem accounts, effectively bypassing the voting power limitations and giving themselves unlimited upvotes on their posts.
- Steem Power that is currently being powered down cannot be delegated out, nor can you power down Steem Power that is currently Delegated to another account. Again, for obvious reasons there are checks in place within Steem's program code to prevent abuse.
- You cannot Delegate all of your Steem Power, only a majority of it.
Thank you for reading. I hope you have a wonderful and prosperous day.
