About two weeks ago, I put together what I believe is the "ladder of power" in our Steem ecosystem, as it currently is laid out. The ladder does not refer to persons or positions, but on how I view the importance of tokens in our ecosystem.
On that ladder, the importance of tokens goes as follows:
1. STEEM POWER
Without it, there is no Steem. Yes, witnesses run Steem nodes, but they are voted by stakeholders. No stakeholders, no witnesses, no Steem.
SP also gives resource credits to your account, and even more importantly, to big projects, which use their own SP and delegated SP to have enough RCs.
2. ENG tokens
They are the base token of Steem-Engine. All tokens created on Steem-Engine need them. Steem-Engine works on a sidechain, but for the content creation it uses the main Steem chain. Plus it's linked with Steem in other ways, like making the pegged STEEM token (STEEMP) very important on Steem-Engine.
3. PAL tokens
PAL is one of the tokens on Steem-Engine. The token -- actually a SCOT, which is a token with extra features, like inflation and how it is distributed -- and the Palnet platform have been immediately embraced (including by myself) and they are built around the amazing PAL community, but it's still one of the tokens on Steem-Engine. There are many other tokens and some other SCOTs too, and others will follow, more or less successfully.
You see where this is going? PAL needs Steem-Engine to work which has ENG as the primary token. Steem-Engine is symbiotically linked to Steem, and it was designed this way. For Steem, STEEM POWER is the most important.
Personally, I have no trouble delegating SP to projects I love. So, now that the decimal precision was activated, I started to delegate some SP to @minnowsupport account from gadrian-sp, which should give me back some PAL for that.
Right now it is likely curation on PalNet posts bring higher rewards than on Steem. I noticed that too, even if we can't pinpoint what every transaction is for on PalNet yet.
We have to keep in mind that on the economic side, PalNet simulates almost entirely what will likely be implemented on EIP on Steem. With a different reward curve, true, but also slightly non-linear. But with the biggest difference of a completely changed, more homogeneous stake distribution (for now).
The question I'm asking myself: should I sell STEEM to buy PAL and become bigger on the Palnet platform in the early game?
Or wait until after HF21 and see how that will change the entire economic playground?
That might be of a more relevance to people with higher stakes than mine. A split stake is a split stake. And curation rewards, 25% or 50%, are influenced in a great measure by our stake.
I decided to keep my SP together and, when the case, rent it out (delegate). Oh well, in fact mine has been transitioning for many weeks from one account to another.