In my previous post, I analyzed the impact of delegation recall and who lost how much during this process of restructuring of the POB delegations.
I got an opportunity to chat with @proofofbrainio over discord and he said he would soon lay down the rules to get the delegations.
@vempromundo.pob made a comment on my previous post to elaborate the decision of @proofofbrainio.
I would like to simplify the event and analyse the impact. Let us now see what was the position till yesterday
- The delegations provided by @proofofbrainio account were of two type - one were given against the #hive power and others were given on request of the contributors. Considering what value they add these delegations were given out. I had already made a post on the delegation which analysed the impact of these delegations.
- The delegations of the first type where @proofofbrainio account offered the pob power to the hive power delegators in the ratio of 1:1. This means for every one unit of hive power one unit of POB power was delegated.
What is proposed ?
For getting the POB power delegation, new rules will come in existence soon. @proofofbrainio said that the delegation against hive power would come in existence soon but in a changed ratio.
The ratio could be 3:1. Which means for every 3 units of Hive power delegated to the community account one unit of #pob power would be delegated.
So for 300 units of Hive power delegated to community account or the account specified later 100 units of POB power would be delegated.
Currently, at the time of writing this post, the price of the token is 1.86 Hive per POB. Which means to get one unit of POB power I will spend 1.86 Hive.
Whereas to get hive power from community account against the hive power I would spend 3 Hive.
Which is 1.14 Hive more than market price. In such situations it is a good idea to buy the #pob from market to increase the POB power.
This is not the favourable scenario for the hive delegators at the moment. However, those whose POB powers have reduced can go to market and create the demand for the token, and there could be a further increase in demand. Once the price of the token exceeds 3 Hive per POB this proposal looks attractive.
Categories of POB Holders
There is another rider in the statement by @proofofbrainio. He says that the POB delegations would now be given to certain set of contributors who hold POB power below a certain level. I would just like to give the statistics of who holds how much ?
| POB Power | Number of Accounts |
|---|---|
| Above 1000 | 77 |
| Between 500 and 1000 | 56 |
| Between 100 and 500 | 192 |
| Between 0 and 100 | 2637 |
Now it would be interesting to check which category of the accounts would be eligible for this exchange.
In order to avoid the abuse there should be some kind of cut-off date for considering the accounts for the purpose of exchange of hive power.
Conclusion
Next couple of days are interesting for the development of the platform and delegations. We can expect the prices of the tokens to increase and the smaller accounts with POB power between 100 to 500 are most likely to gain due to the new policy. This will result in spreading the POB power evenly between the community and will give fair chance for the small accounts to grow.