I have no idea how this works lol
If the lease cost is 100 STEEM and Delegation payment is 90 STEEM, it means I pay 100 STEEM and receive back 90 in daily increments o.o
I know I didn't get it right, care to elaborate? xD
RE: Earn 24% Renting Steem Power with MinnowBooster! #8
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Earn 24% Renting Steem Power with MinnowBooster! #8
Correct you get back 90 Steem in daily increments, so if the lease is for one week (7 days) you will get 12.857 Steem per day for 7 days. If you cancel delegation early the lessee will be refunded the balance not yet paid out to you. We don't encourage early cancellation as this is essentially breach of contract.
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Why the hell would anyone do this? If I deposit a 100 STEEM to get 90 back?
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Because you get the initial 100 back. It's a very basic financial concept: interest and investment.
Why does anyone buy a certificate of deposit?
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So I get a 190 Steem?
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I doubt the rate of return is that high, but of course you never give up your initial delegation. It's always yours. You get that back plus a payment.
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