A delegation is a temporary loan of Steem Power from one user to another. By purchasing a Steem Power delegation, you can temporarily make your vote more powerful and gain higher curation rewards for your upvotes. We added the ability to purchase Steem delegations earlier this month: https://steemit.com/blocktrades/@blocktrades/blocktrades-now-offering-steem-power-delegations
RE: BlockTrades adds ability to extend existing Steem Power delegations