The Economics Of Compounding: 6660 LEO Plus 1K SPS Staked
Building LEO Goals
I have a terrible habit of compounding without checking for how much I'm making in curation in the USD value, either, weekly, monthly quarterly or even yearly. This is probably because inherently, I know I'm growing, I keep mental accounting, but I hardly do accounting when it comes to figures. Firstly I'm going to talk about LEO. It's the maiden token of the leofinance project and overtime it's shown growth, development and exciting use cases.
The leofinance team makes it attractive to hold by actually creating opportunities that make it possible for people to own it, there's the opportunity to delegate your Leo to earn more Leo, there's the staking opportunity for curation and more opportunities we're created for it immediately Defi came into Leo. I started building my Leo stake in 2020, I bought a large chunk of what I now own and one of the major regret I hold is actually not buying more.
My target for the year is ending up with 10K staked Leo, and today I'm glad to say I have 6660 LEO staked. Normally delegating this would earn me a nice chunk of Leo which I can in turn power up and grow the stake even faster, but then I have chosen to use it to continuously curate contents. This is a slower way to actually grow, but then I am not the kind of person that tries to accumulate so much in such a short period of time. To me, time is a distinctive hindrance when it comes to anything crypto.
A lot of people are guilty of always measuring how much they'll accumulate over a given period of time. They do this in order to measure the time taken to see if it's totally worth it or if it's not. This is always huge. Accumulating crypto might not feel fully rewarding on the surface especially when you're gathering, staking and compounding until there's a substantial increase in price, and it'll feel eventually worth it.
The Discipline To Mitigate Deviation
One of the reasons why I tend to achieve my milestones faster than I think, is because I do not deviate from building my goals irrespective of any external factor/pressure to do otherwise. For example one of the most procrastinated things when it comes to finance is saving. In reality, saving is one of the most desired goal of every human, but it's also the most underachieved as well. Saving is like staking when we compare it, this is because there's the pressure to sell to invest in other projects or take care of needs.
This is the same with saving. Sometimes one's needs are so overwhelming, each day also comes with responsible that requires financial recluse. At the end of the day, one needs to be financially discipline at the face of numerous needs to actually attain the goal of saving.
The Systemic SPS Compounding
As for SPS, I started accumulating it by buying DEC in October last year when I started playing Splinterlands as well. Now while this might not be relative, I want to make you understand that, getting SPS is achieved by owning DEC, it's a specific airdrop that lasts 365 days. There's 163 or maybe more days to go for airdrop to elapse, but this isn't the focal point. When you eventually stake SPS, you prospectively earn VOUCHERS and even more SPS, while the economics behind vouchers are different. Staking SPS earns you more SPS which you can stake to earn more SPS.
This is classic compounding at its best. Now 1K is a round figure, and I've been accumulating it for over 5 months without selling or moving it. Now there is this illusion that some people grows faster than the others. The truth is, this is possible because intentional investing yields intentional growth. A lot of people aren't intentional about their investing strategies and goals, making them empty procrastinators at the end of the day.
Milestones: Proof Of Growth
When all is done, celebrating milestones is the proof of how seriously we've taken the concept of growth. Without growth, we cannot attain milestones, and because one can financially grow, they'll have gotten the resources that are the prerequisites to achieve this growth and put it in motion. Most of the time, skin in the game (effort) is a bigger requirement. While LEO and SPS is currently dropping, this hasn't changed my mindset about accumulating them.
For some people, changes in price determines the degree or pace at which they accumulate. This is why it's very difficult for some to take advantage of the different seasons. For example with low prices, the buying pressure reduces, making it cheaper to accumulate, it's basic school economics. These same commodities become difficult to accumulate immediately the prices begins to increase. Accumulating is easy, it only needs one to be intentional about it.
Interested in some more of my works?
A Personal View Into The Meaning Of Spirituality (ecoTrain QOTW)
Why You Couldn't Create Good Contents In 2021, Why You Still Wouldn't In 2022.
A Psychoanalytic Dive Into Incentivized Loyalty
The Nigerian/African Disposition On Marriage As An Endowment
Living & Living Unintentionally (The Financial Repercussion)
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I think you should buy more of it now that it is still dropping before it starts to pump back again
But what if you don't have the money to get it?
Look at it in this situation. Most times we claim not to have money to take care of things, how them do we have enough money to buy data to be online? It's because we're intentional towards it.
Hmmm🤔🤔🤔. Looking at it from that angle also, you are absolutely right its just the way we set our priorities that determines what we do. Nice one man👍👍
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Hi i'm a big newbie here, any chance you have an article or point me in the direction of how to buy/stake leo?
You can buy hive, then transfer the hive to Hive-engine.come use the Hive to buy Leo there. You can power up the Leo through that same hive engine. Sadly I don't can't currently find a post. But this is one way to do it.
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still super helpful and gets me pointed in a direction, thanks!
Congratulations on your milestones. I have just been doing the usual and I wonder when I will consider my Defi position big enough. After all, I wouldn't mind sending some of my farm rewards back into LEO but it just isn't big enough. Then again, I am being tempted by the higher APRs over there.
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Sometimes we are always in these situational dilemmas, whichever decision you decide to eventually make, I guess it eventually pays off in different ways we might not predict.
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I'm a big fan of compounding and I have created all my health by "compounding" assets in my life... I remember that I have begun my entrepreneur life 20 years ago by investing my own earned $200 to start a business... After that, everything came from that initial deposit... As you said, compounding = saving = staking...
Lately, I have implemented a strategy of buying (and staking) assets when their price is going down... When the price goes up, take some profits, and continue with compounding...
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This is exactly what I do too, compounding makes it easy for your money to work for you rather than you having to work for your money. It's basically the smartest way to grow wealth. Some people underestimate accumulation and how one can eventually grow their initial investment.
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It puts smile on my face when I read about milestones here on the chain, it inspires, motivates if am not using two different words to imply the same there but the message is am I am loving the fact the we are moving forward and moving forward can only result in a better tomorrow financially.
Congrats brother!
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You're right, moving forward can only signify a better tomorrow financially. I love it when I hit milestones it's a testament that I am actually improving. Thanks a million bro.
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Compounding is underestimated but very important. Little by little we will get there
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You're definitely right bro. Little by little, we eventually get there.
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Lol. And creating the intention is the most difficult part for some.
First of all, let me congratulate you for the growth and the huge accumulation you have made so far.
I remember when I was on another crypto based platform, many of us were hodling and hodling with the hope that the price would increase. Even when the price had a sudden increase, we didn't sell to make the token wortheir. But we faced a failure. The owner of the platform sold it and the hodlers of the token got nothing but desperation. The point is that crypto is all aboit risk. We never know what the future holds for us. Some people are more courageous to take risks. Others may want to sell their crypto to get at least some benefit, and so they do not invest in accumulation due to the fear of loss.
I faced the same issues you mentioned with steemit and when the end was sold to Justin Sun. Crypto is risky, but we chose this life. We cannot say investing on a business isn't risky as well. Waking up, taking a bus, eating and sleeping are all risky, something our lives are sorrounded by risks, it's only ability to take smart risk that distinguishes us. At the end of the day, some has paid off, some other hasn't.
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Hmmmm.....
That's a good perspective to think about risk. If we have to progress in life, the risk is the thing we have to encounter....right! 😎
I think the best part is you are making progress. :)