How to maximize curation rewards for Hive-Engine tokens

in Project HOPE2 months ago

curation.jpg

Most of us struggle to come up with great results with our curation efforts. There are so many things to take into consideration:

  • When to vote?
  • How much voting weight should we use?
  • Shall we vote manually or automatically?

Curating is a tough job and we can do a lot wrong about it and this would affect our curation rewards quite a lot.

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Now there is another challenge. How can we curate Hive and all these Hive-Engine tokens at the same time?

There are two solutions that I want to present you here:

Creating specialized accounts

The best way to maximize curation rewards for Hive-Engine tokens is to create a specialized account for each token.

Let's say you have some Leo's on your account and you want to curate Leo posts. You create a new account and you call it for example @yourname.leo. Once the account is created you either send all your leo tokens and stake them or you delegate your staked leo tokens to this account. You basic account won't have any Leo after that. You will still be able to post within leo with your basic account but you simply took away it's curating capacity.

You can then add the @yourname.leo account to keychain and you can switch accounts when you want to curate leo posts.

Advantages and disadvantages of specialized accounts

The biggest advantage is that you have now two accounts and you can vote 10 times at 100% on Hive posts and you can vote 10 times at 100% on Leo related posts. This allows you to maximize your curation rewards in both currencies.

The disadvantage of this is that you need to manage two accounts and a lot of people struggle with that. You need to switch from one account to the other regularly. There might also be some costs linked to creating the second account.

I believe that this solution is great when you have some tokens already. You can create such specialised accounts for each token that you want to curate in.

What about automatic curation?

When you use a tool like hive.vote it's possible to automate your voting activity. Especially when you have plenty of tribe accounts, this can be really helpful.

The big problem here is that when you want to curate LEO posts, it is required that there is a leofinance tag in a post so that you can generate curation rewards. Therefore you will need to set automatic upvotes on people that you are sure that they always post in Leofinance. To follow a curation trail can come in handy for that.

The 1 account solution

For people who are quite small and can't afford to create plenty of accounts or who don't want to manage several accounts, there is another way to maximize curation rewards for Hive-Engine tokens.

This is what I call the 1 account solution. With this solution you will set vote weight multipliers for the different tokens. You can set these vote weight multipliers on leodex.io/rewards or with the tool that I created: https://www.ref-hunters.ch/votemultiplier/index.php (check out my post about how to use it)

How does it work?

Let's say you have staked LEO tokens in your wallet and you want to optimize your return on your curation. You can set a vote multiplier for LEO to 10 for example.

You then go to Leofinance, peakd or any front-end and look at the posts that you want to upvote that carry the leofinance tag. When you set your upvotes you will vote only with 10%. Now the vote weight multiplier kicks in. You will vote with 10% in Hive and with 100% (10x10) in Leo.

This means that you will give a full vote in Leo and at the same time save voting power in Hive.

It's possible to set the vote weight multplier up to 99%. You can do this therefore even with 1% Hive votes and get full upvotes in LEO. You would need only 10% of 1 vote to vote 10 times fully on Leo.

It's possible to do that for several tokens and like that you can maximize your curation rewards in all these tokens.

Advantages and disadvantages of the 1 account solution

The biggest advantage is that you can do everything with one single account.

The disadvantage is that it's not a perfect science. Why? Because most posts don't carry only one tribe tag. Let's say you have a vote multiplier for CTP and LEO on. Now you want to vote for LEO but there is also a ctp tag on a post. This will multiply the votes on both tokens for one post.

This requires to control the voting power in the tribe tokens regularly and if necessary to adjust the vote weight multipliers. If the voting power is over used for a token, you will loose curation rewards. Therefore it is also quite difficult to automatize such a type of curation.

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Hello @achim03
That's why I try not to miss your publications, you always make very, very good contributions.
I didn't know about this tool you had created.
I'm going to try it out immediately.
Thank you.
As far as what you propose from the Post, it's really interesting about the curatorship. The ease with which the Keychain and even Peakd can switch between different accounts is something that is very much to be welcomed.

It takes some time to get used to switch between accounts but it's quite easy. You just have to remeber which account you are working with ;-). I've about 12 account in my keychain and I manage to keep control LOL

I Appreciate your kind words!

!ENGAGE 20

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I think I'll try out creating a separate account for some tribe so as to curate differently from each tribe.

Thanks for the tip

Posted Using LeoFinance Beta

I've been doing that for several tribes and I've found it much easier to build the stake and generate curation rewards.

!ENGAGE 20

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lol dude you are a wealth of knowledge

very good resource for anyone looking to max out their H-E curation.

Thanks a lot man! I'm becoming a curation specialist LOL ;-)

!ENGAGE 20

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another very informative post!

I think many newbies will find it useful. Even members that are here for a while don't know this. I for example made my research about a month ago!

Posted Using LeoFinance Beta

A lot of people are struggling to understand all the magics of hive and hive-engine. It's still a steep learning curve and I believe it would be great if everything was a little bit easier ;-)

Thanks for stopping by!

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I willl try the 1 account solution first because I still have a lot of things to master on hive for now, in other not to complicate issues. So when am conversant with hive and hive and have more staked tokens, I'll try it out.
But for now I'll reblog this immidiaty

It's easier to start with this strategy and you can concentrate on one or two tokens to start with. Thanks a lot for your comment!

!ENGAGE 20

I appreciate you for enlightenment. For now it's sports and leo

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

Wow, I appreciate you.

Can you explain what you mean by: "If the voting power is overused for a token, you will lose curation rewards."
My understanding is that you can run out of voting power for the token to the point where curating is not worth the time but you still get your rewards in full (just spread over more posts). The only way to lose them is underusing the token (sitting at 100% power at times).

!BEER

What you say is actually quite correct.

When curating, my idea is to produce a stable outcome at the highest level. If you overuse the voting power in a token you will produce more value now at the expense of the future. The voting power will go down gradually and your upvotes will be worth less. If you upvote with 20% voting power, your vote will only be worth a fifth of a full vote. Then there might be the dust effect that will prevent you from earning at all with your upvotes, if they become too small.
You will come to a point where you have to stop to vote altogether and let the voting power regenerate. Even if you don't directly loose money with overusing voting power, it will generate less income than when you vote with stable voting power between 80 and 99%. But it's still better than to let your voting power be idle at 100% ;-)

Thanks a lot for your comment!

!ENGAGE 20

That's right - the dust effect!

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

Fantastic, 100 percent upvote, reblogged and tweeted.

Posted Using LeoFinance Beta

Thanks a lot Bradley!

!ENGAGE 20

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After reading through this post, I felt really blessed. I can now handle how to curate properly.

Great to hear that! Thanks for stopping by!

!ENGAGE 20

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There, I have been able to use it.
It's actually very easy and works very well. Thank you.

Happy you like it :-)

This post has been manually curated by @bala41288 from Indiaunited community. Join us on our Discord Server.

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Thanks a lot for the curation!


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