More Details About RC Delegation Leasing
I talked in yesterday's post about the new leasing features added to Hive-Engine, particularly of interest to me the RC delegation leasing one.
In the meantime, I tested the system some more on the RC leasing part, and I'll share some of my discoveries.
First of all, I start from the premise that more account creation tokens are kind of useless to me, as an individual not running an application or service that onboard people to Hive. I already have 100. What exactly am I going to do with more or even with these 100? They are not tradable and from previous core devs discussions on the topic, it's unlikely that work will be done to make them tradable in the foreseeable future.
Maybe some people would see ways to use those 100 account tokens and much more, including by creating new accounts with potentially highly demanded account names to sell afterwards, but I probably won't go that route.
So, I'd much rather lease out my RCs to those needing them.
With that idea in mind, and before there is any real APR discovery phase, I filled many of the existing RC lease requests on the market for a minuscule APR.
Just so you know, the duration listed on these lease requests is the max duration after which the leased RC doesn't provide any APR (unless extended, maybe).
You can undelegate your RCs at any time, it's not a fixed-term contract. I already did it with one of them, just to test things out.
Another thing that you need to know.
There is no cooldown period after undelegating RCs (unlike in the case of HP, where there is a 5-day cooldown before you have your HP back), but here's what happens:
- your max RCs increases immediately after undelegation
- your RC mana doesn't increase, it will replenish over time
Max RC is like a water tank. Except one where its capacity can change, which makes it kind of an unusual analogy with the real world.
RC mana is like the water that fills the tank. Consume it and the level lowers. Wait and the level rises again (from rain or whatever source fills that water tank).
So, for example, if you have your RC mana at 100%, 10t max RCs, lease 2t RCs out you remain with 8t max RCs and RC mana remains 100% (but lower, because it misses the mana associated with the 2t max RCs leased out).
If you immediately undelegate the 2t RC leased out, your max RCs return to 10t on the spot, but your RC mana is still the equivalent of 8t RCs in mana. The returned 2t max RCs worth of mana will recover over time.
Something else you need to know.
As far as I know (but haven't tested it), you need both max RCs and RC mana to be able to delegate RCs. So, for example, you can't deplete all your RCs and then lease 2t out. Because you no longer have enough mana for 2t of your max RCs.
I hope it makes sense!
Personally, I filled many of these lease requests, for now, to get the process going (and to test it out). But the APR is not satisfactory.
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That's really good to help out those who need them the most, particularly those who are newcomers or who do not have sufficient HP/RCs.
Informative. I was not aware of this.
Thank you.
Now there is an option. One can buy more HIVE and power it up or lease RCs from those who do/did that.
I think I read about it from howo, but I remembered the exact details after testing it myself.
as you said you already went through the process: What is expected to happen after clicking on the fill button? -If I hit the fill button only a countdown for another 5 minutes does appear. Contrary when I try to give some HP away. Then there is a pop-up in Keychain asking for permission.
I think the two requests from the account with sps and dec at the end might be broken somehow. I tried them too now and received this error on both of them:
Try with the request from the account ending in wax, it seems ok, but I didn't finish the process or I would have filled the lease instead.
That's what should happen, what you described: you should be asked permission in keychain to complete the transaction.
hmm... thx for trying! not I know at least what COULD happen. Unfortunately here it does nothing :( even when trying the account ending in wax
Maybe there's a bug to fix, I'm not sure. When it was working, it was working, I can tell you that, lol.
This is another APR on top of the existing HP rewards... any little is a plus ... it might increase once the bulls are back :)
I agree. I was thinking more in terms of 1-2% in bear market and 5%+ in bull market. Maybe I'm too optimistic, lol.
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Thank you for the further explanation. Leasing RC sounds real good
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I certainly think so.
Thanks for keeping me updated. This is really good information to know.
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Yeah, I believe RC leases will be quite a big thing, especially in the bull market.
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Interesting information, Adrian.
Thanks for running the tests.
!CTP
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I was running them for myself anyway. Thanks for dropping by, John.
Thank you Gadrian!
This makes more sense than it did 6 months ago.
Have a nice day and evening.
Barb 😊
#thriveonhive
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Things almost always make better sense the more time you are involved with Hive.
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Seeing VERY LITTLE demand for RC at the moment. Not sure anyone really needs it just yet. Hives chain needs to get a lot more busy before RC starts to kick in again and I think most places would rather just stack the hive right now at these low prices.
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Big player don't need it for sure, and average folks like me have enough RC to do whatever they want to do. The only use for this is helping out new accounts, which is awesome. I can delegate my unused RC while keeping my HP.
!PIZZA
It's a good point that the big players would rather amass more HIVE at these prices rather than lease RCs. Some may prefer not to do that if they are not interested in HP, but I don't think we can expect any serious APR during the bear market.
It's nice to know the details about it. What happens if you have a 2t delegation, cancel it then delegate out 2t again? Would the current value drop another 2t from yours or will it go from the one delegated out?
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Say you have 10t total max RCs. If you delegate 2t, you have 8t, but you also delegate the mana associated with 2t max RCs. When you cancel the 2t delegation, you get back your max RCs immediately, but not the mana. So, you have the max RCs back at 10t, but the mana corresponds to 8t if it was full at the beginning.
When you redelegate 2t, you will have 8t max RCs again, but mana will drop to the corresponding 6t max RCs mark because you delegate another 2t worth of mana from the previous 8t level. If you wait, of course, the mana recovers.
Lease requests? Where can I see that?
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hive-engine.com/lease
Thanks!
Until now, #DLease still hasn't implemented Resource Credit leasing on their dapp. 😅
!LUV !CTP
@rzc24-nftbbg, @savvytester(1/10) sent you LUV. | tools | discord | community | HiveWiki | NFT | <>< daily
I just checked it a few times.
I checked your Hive account and found out that its Voting Power is less than 37%. 😅 Meanwhile, its Resource Credits are worth 1,327 Hive Power and are at 100%. 🤔
You should both conserve VP and delegate unused RC to other Hive accounts (such as the #YouAreAlive bot to earn ALIVE tokens from your RC). 🤓
!LUV !CTP
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I am too lazy now to delegate. 😅
!LOLZ
lolztoken.com
Then it dawned on me.
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@savvytester, I sent you an $LOLZ on behalf of @rzc24-nftbbg
(3/8)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP
You were too lazy to delegate, but not lazy to undelegate Resource Credits (from the #YouAreAlive account, the account whose name sounds like a coffee brand, and the account whose name says something about #AxieInfinity), leaving you with exactly zero RC delegated. 🤣
!LUV
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Just doing trial and error. I forgot how I did it before. 🤣
First time to use !LUV after so long.
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How much RC should I delegate?
You just said 28 minutes before your comment there that you were too lazy to delegate. 😅
You should just leave about 150M of Resource Credits on your Hive account, and delegate all the excess RC. 🤓
!LUV !CTP
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That was 28 minutes ago, and then there was a sudden change of mind. 🤣Is 150M enough?
!CTP
150M (which is equivalent to the Resource Credits provided by 150 Hive Power) is enough for all your commenting, posting, voting, and token transaction needs. 🤓 The only times it won't be enough is if your Hive account is used for some automated transactions (such as token tipping, !MEME sharing, and automatic trading). 🤓
!LUV !CTP
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I wonder why https://hiveblocks.com/@kopiko-blanca has 10B RC.
@kopiko-blanca currently has 10,616,004,604 raw Resource Credits, or approximately 10.616b of RC. 🤓 That's equivalent to the RC provided by 6 Hive Power. 😆😅
!LUV
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I thought that (,) is actually a (.), so I thought, it's not really 10B but 10M. 😅
Mistaking a comma for a period is clearly the effect of confusion. 😆😅
!LUV !CTP
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I have seen a few content creators who do like that. Are they also confused like me? 😆
!LOLZ
lolztoken.com
Luckily I Noah guy.
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Can you give examples of other content creators who are confused between period (
.
) and comma (,
) in numbers? 😆!LUV !CTP
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Except for the alive bot, I also see others doing it. I just forgot their user names.
!BBH
@savvytester! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @rzc24-nftbbg. (1/5)
Looks like forgetfulness became your excuse to prove that other content creators mistake a comma for a period. 😆😅
!WEED !LUV
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@rzc24-nftbbg!
@savvytester passed you the virtual joint!If you do not want to receive these comments, please reply with !STOP
I observed that I delegated to @youarealive 502B RC on 26 November last year. I actually forgot about it.
I wonder why you zeroed out your Resource Credit delegation to the #YouAreAlive Hive account. 😅 !PGM
https://hiveblocks.com/tx/1cbf00d27a22718be7a313ecd00bc6d62170438e 👈😆
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
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Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
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I'm a bot, if you want a hand ask @ zottone444
I was actually trying to update to 2.2T RC but after trying it 3x and receiving an error message that I don't have enough RC to delegate, I decided to have a break. Maybe tomorrow it will work again. 😆🤦
!LOLZ
After undelegating Resource Credits from another Hive account, the RC limit goes back to your account but the RC itself is "spent", meaning that you have to wait until it regenerates before you can delegate it again. 🤓 You wouldn't have needed to wait if you didn't accidentally undelegate your RC. 😆😅
!LUV
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Oh, that's why. I thought I got suspended. 🤣
!BBH
!PIZZA
@savvytester! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @rzc24-nftbbg. (2/5)
I wonder which dapp on Hive will "suspend" you for simply trying to change your (outgoing) Resource Credit delegations. 🤣
!LUV
!CTP
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That was a bad joke. 🤣
!LOLZ
!CTP
lolztoken.com
The bartender says, I'll serve you, but don't start anything.
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(2/8)
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Which one was the bad joke? 🤔 Your comment, or my comment? 🤣
lolztoken.com
Do you have to tell them they have the right to remain silent?
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Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
Mine.
Really bad joke for it didn't look like a joke. 🤣
!LOLZ
Looks like misassumption make you think that my question about asking which of my comment or your comment was the bad joke says that your joke was bad (if it was really a joke). 🤣
!LOLZ !CTP
lolztoken.com
To the dock
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Use the !LOL or !LOLZ command to share a joke and an $LOLZ
I gifted $PIZZA slices here:
@buzzgoblin(1/5) tipped @bitcoinflood (x1)
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I can get more Swap.Hive to invest into income tokens and keep rolling that over. For that, it might be worth it.
!ALIVE
!CTP
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@gadrian! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @lisamgentile1961. (8/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Good Morning and Thank you, @youarealive! Enjoy your day.😀
Yep, that's a way to use it. What's interesting compared to dlease is that the returns are in swap.hive too. So, you won't need to deposit HIVE to Hive-Engine and pay deposit fees when you need it, the return is kept on their platform.
Definitely a good benefit. Even though the fees aren't much it's still very nice not having to worry about them.
Have a great day, @gadrian!😀
Exactly. Have a great day, Lisa!
Thank you again and enjoy your day, @gadrian😀
Great info! Thanks for sharing what you found in your experiments! I've been very curious about this! 😁🙏💚✨🤙
You're welcome! Let's hope this market will pick up some interest, if not now, maybe in the bull market.
Indeed! I know Hive and everything within it will explode at some point. Sooner rather than later would be cool, but regardless I'm all in for the long haul! 😁🙏💚✨🤙