Voting Power, LeoDex and Vote Weight Multiplier - Tips & Tricks
Thanks to Khal and the dev team we got an amazing tool called Vote Weight Multiplier, which can help you use both your Hive and LEO stake wisely. The tool is not new, some of you may know it and I bet many have no idea about it or just don't know you need it. Don't worry, it's not difficult and I'm going to try to explain how it works as simply as possible.
I've been trying to use it and had some difficulties, had to figure out what's the problem, but more about that later in this post. Let's talk about what it is and how you can use it, to grow your own stake and reward others properly.
Dual Stake Use
Leofinance is a Hive blockchain based community, that are rewarding users with both Hive and LEO. Simplifying the process, let's say you get both Leo and Hive for both poring and curating. This is fine, but when it comes to curating, things get complicated because of the voting power and the stake you hold.
Most users curate not only Leofinance posts but Hive as well, which means (most likely) their Leo stake is used less, which is a shame honestly. This tool meant to help you with that.
Vote Weight Multiplier
Log in to https://leodex.io/, make sure you use Keychain as it'll be important later.
There's the Reward tab, https://leodex.io/rewards, that's what you're looking for.
You have a list with all the tokens you hold, stake, pending rewards, voting power and two icons at the end of the row.
The first one is for claiming rewards but that is done automatically, so don't bother.
The last one is the one we're interested in today. That's the Vote Weight Multiplier you're looking for.
The default multiplier is set to 1, so you have to set the multiplier to more than 1 if your Leo voting power is sitting at 100% all the time.
Setting the multiplier to 3 for example means when voting on a Leo posts, you'll be using 3 times more of your Leo power than your Hive power.
I'd suggest to start with a lower number and then increase if it's necessary, as you don't want to burn down your Leo voting power the first day. Just keep an eye on it and adjust in case it's necessary.
Important!
You can use both Hivesigner and Keychain to sign in to LeoDex, but Hivesigner is not working for the multiplier. There's no error message, but after you finish, the multiplier jumps back to 1, so please use Keychain.
I tried to describe the process as simple as possible so everyone can understand it, but if you have further questions, just ask. I'm happy to help.
Later Edit
I forgot to mention, you can use the multiplier for every possible token you have some stake of. You can use it for CTP, Weed, Sports, whatever you like.
Don't forget to check your witness list, make sure you're voting Leofinance as well.
If you don't know how to vote, here's a tutorial for you
Posted Using LeoFinance Beta
