Voting Power, LeoDex and Vote Weight Multiplier - Tips & Tricks

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(Edited)

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.

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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.

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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.

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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.

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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

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35 comments
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Excellent.

I could see where my problem was with the vote multiplier, as it always did not configure the values I typed, thank you very much @erikah

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My pleasure! I thought I would share it to help others as well as I've been struggling with it.

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Every day I am amazed at how little I know about the ecosystem. Thanks for the recommendation to set up voting in #leofinance. Although I am quite a newbie to the community, with help like the one you give, I will move forward faster.

I already configured the vote multiplier. Now, I'll see how well it performs.

Thanks a lot. Have a great day.

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You're welcome, I'm glad I can help. I tend to do these posts, to pass on what I know, hoping maybe there are users who could use my experience.

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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.

so if i want to narrow down the % oh HP i use, i do it by increasing the multiplier? For example, if i want to upvote a post with 50% LP can at the same time have my HP being 25%? or even 0?

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Wow, this is a bit confusing, but let me try to explain.

If you want to give more Leo throughout your vote and less hive to save your HP, you vote let's say 10%, but if the multiplier is set to 10, your Leo vote will be 100%

I hope you understand.

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Thanks, I was never able to get this to work before.

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You're welcome, hivesigner is the reason.

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also I see you answered someone else below but I'm still confused. I want to give the highest leo vote with a very minor hive vote. So I would set the multiplier to 10?

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I'm still experimenting myself.

Then give maybe 5 or 10% votes while the multiplier is set to 10. Test it for a couple of days, see how it works.

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super important feature, an I am glad that we got it :)

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Me too and there's hope we're going to get more as you can see the they are thinking outside the box.

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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.

Thanks for bringing this up. I saw a post about the multiplier weeks ago and tried it with Hivesigner but it keeps going back to the default 1.

Btw I don't know how to use the Keychain. Never used it before...

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This sounds very interesting. Does that mean if I set the multiplier to 2 than my voting power on a leo post would equal 200% instead of 100% Voting power?
How is that possible? I could set it to 10 and make one giant vote?
Thanks for this great information.

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Multiplier is a good option to utilize the full voting power among all the tokens.. but I have observed it does not work somw time for weed and sports...

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Are you sure it's not because of Hivesigner? Try Keychain if you've been using Hivesigner.

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Voting power is a big challenge and I did not know about this multiplier option. I will use this tool to use my VP more efficiently and thanks to you for sharing this useful post.

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You're welcome. I thought it would be useful to some, that's why I tend to share these posts.

Good luck!

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