Cancellation Fee for SP leases

It has come to our attention that a user has been actively exploiting a memo vulnerability on our side, creating leases and cancelling them right after to profit from additional memos from us.

To mitigate this attack vector, we have now decided to introduce a cancellation fee for STEEM POWER leases.

For now, the fee will be 0.010 STEEM and is deducted from the refunded STEEM. With rising STEEM price, this amount will likely be reduced, as it's only intended to avoid losses, not to be a source of income.

Please note that this fee will only apply to cancelled or unfulfilled leases.

If you have your lease request fulfilled, only the standard 10% escrow fees and conditions apply.

To avoid having to pay the cancellation fee, please make sure that the APR you offer is attractive to delegators, to ensure the lease has a good chance to be fulfilled.

Of course, a higher APR tends to have a higher chance of fulfilment, but you also have the option to check which APRs are usually attractive enough for investors.

We want to thank everyone for understanding our reasons to do this, and are looking forward to the promising future of the Steem blockchain!

Soon we will be announcing a full migration of leasing services to dlease.io which will use different memo logic, at which point we will potentially be able to reduce this cancellation fee to a tighter value.