LPUD: Having Two Staking Strategies

over 1 year ago

It's the Leo Power-up day and it reminds me of how I began building my second layer token. In reality, LEO was the first I've invested in, and when it hit 1$ I never even thought of taking profit and the reason was that Leo's rise to 1$ was spontaneous.

I had bought my 2k Leo about four months before that massive surge and it felt rather strange to think of selling what I had just bought. I was already staked and liked the concept of curation.

I was powering up every day and even with the price at 1$, this was probably because I was still a newbie in the game and my aim was just to grow my stake.

Profit & Growth

In reality, a lot of people think about taking profit without actually growing their stake, while it's easier to make some quick cash and grab, the real profit is in taking the time to grow and planning a profit strategy.

A profit strategy Is always important but not a lot of people think about this and the reason is that some people treat the bull market like it's going to be the last.

Taking profit has to be generally systematic in a way where it wouldn't hurt the system and in a way where you'd have options to buy back.

Buying Back Without A Strategy

It's difficult to buy back without a strategy and this was the reason why I never thought of selling my Leo stake, I had no buyback strategy, I didn't know I could utilize stablecoin as an opportunity to sell and buy back, and since I didn't want to sell without buying back>
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I still kept on powering up Leo even at 1$. In reality, staking is one personal goal that should be intrinsic and not tied to any monetary incentives especially if you've done your research and there's the potentiality of such a project doing well again in the future.

A Case Of Potentiality For Leo

Leo is the flagship project of Leofinance and it redefined the concept of second-layer, because it did so, it created a different aura and took the attention off Hive, it was one of the projects that brought massive attention even before splinterlands took off.

So I personally think that beyond the general incentive to grow one's stake by powering up every month, it's even important for everyone to have a separate plan to grow their stake.

To me, I think Leo is one of those projects that would do well, with the right tweaks here and there and that's why I think I've personally raised my goals, powering up monthly is the Leo's community goal, but powering up twice a week is the goal for me personally.

My Own Strategy

Anyways, I could change my whole tactic to powering up everything once a month, but I like to be accountable to myself by doing always. In a nutshell, it's practical to have a personal staking goal without the regular incentives because these are the staking practices that should eventually help one to grow.

In this power-up, I've decided to power up 100 Leo, and my personal power-up was about 250, making it 350 Leo power up for the month, I think next month I'll likely move closer to 500 LEO.

I like being accountable for the times I could power up, but I mostly pay less attention to the figures because I don't like being limited by a cap. so here you have it guys, keep staking and keep holding, remember to develop a strategy.