Difference between revisions of "STEEM Power (SP)"
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Revision as of 17:41, 21 June 2017
Steem Power (SP) is STEEM (see STEEM_Tokens) that has been locked in, meaning it can't be immediately withdrawn to spend.
Steem Power is what gives you influence on Steemit. The more SP you have, the more money you give to authors with an upvote as well as the greater the curation rewards you can earn. There is a very small 'interest' rate earned by holding Steem Power.
Converting STEEM to SP in called powering up. This can be done by clicking the down arrow next to the STEEM in your wallet and selecting power up. 1 STEEM = 1 Steem Power when powered up.
To unlock SP and convert it back to STEEM you have to start a "Power Down" process which moves 1/13th of your Steem Power per week back into Steem (which is spendable) over 13 weeks. So for example, if you have 1300 Steem Power and power down, you will have 100 Steem a week unlocked into something you can spend, trade, transfer or withdraw.
Links:
- @sykochica : Answering Common Questions: Steem, Steem Power, Steem Dollars and What Should I do with them?
- @sigmajin : Understanding the Steem Economic System Vests, SBD, Steem, Dilution interest and all those crazy things
