Here is the latest VIPS report. So what's that about VIPS you ask? Well this has been my answer to giving out meaningful rewards while I continue to build my stake. VIPS literally are votes as tips.
Each week I set aside approximately 5-10% of my post rewards and give them out as tips to posts and comments that are deserving of support. The reason I employ this approach is that I am currently using a lot of my stake for delegations, in return I receive vote support, and so my vote power is limited.
The rationale which lies behind this decision is based on a determination to build my stake. In return for my delegation I receive vote support, as well as token and Hive drips. All of these combined returns helps me to grow my stake quicker. Once I have reached the HP threshold to give out a $0.15 vote I will no longer need to use a lot of my stake for delegation purposes.
However, in the meantime I want to give rewards to people, not only to the ones who have supported me since joining Hive but I also want to reward high quality content and support the community. Therefore this is why I use 5-10% of post payouts to feed back into the tips as votes initiative.
Keeping within the blockchain spirit of transparency and openness, since the last VIPS Report I have given out a total of 2.9 Hive in VIPS. Obviously I appreciate this actually isn't that much in the context of the wider picture but when you are in my position building up my stake from nothing and trying to get to a position where I can give out a meaningful vote to the value of $0.15 then it's a tough grind I can tell you.
I hope you understand my strategy with the VIPS approach, it's the only effective way I can give out something bordering on a meaningful vote while I continue to build my stake.
Keep enjoying the VIPS!
Peace!
