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What Do You Think About A STEEM "Lite" Power Up?

Asked by vimukthi Promote - View in Hive.blog - Audit

STEEM has some of the longest stake withdrawal times out of the PoS/DPoS cryptocurrency. There are many advantages to this. The price can become much more stable. Those who power up tend to have the long term development of the platform in mind (or at least have the incentive ti be so).

  • The most important part is that in case a hacker gets hold of your account, you still have a lot of time to recover your funds.

This is a very important factor. Even if you create a method to burn STEEM for a faster power down, you are not doing STEEM a service by undermining the security. This is why I came up with this idea.

The "Lite" Power Up

The act of powering up is a act of buying VESTS. "Lite" Power Up can be implemented in many ways. I'm not a developer. I don't know about the difficulty of adding this feature. The idea can be implemented in three forms

  1. You buy less VESTS per STEEM. Portion of your STEEM is locked up as a separate asset that does nothing. When you power down, you get everything back in a short time.
  2. You burn some STEEM to get the privilege of instant power downs in the future after a 30 day wait to make sure this will not be exploited by hackers. Eg: Burn 5 STEEM today and after 30 days you can instantly power down 100 STEEM anytime independent of the traditional power down.
  3. A type of power up that give you access to a reduced set of features (Eg: No voting/Reduced voting power, No Witness Voting, No SPS Voting etc.)

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It is Certainly An Idea Worth Considering (43.75%) 7 / 16
43.75% Complete (success)
It Seems Too Complicated To Me. Let's Keep Things Simple (43.75%) 7 / 16
43.75% Complete (success)
I'm Indifferent To This Idea (12.5%) 2 / 16
12.5% Complete (success)

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