As you might know, I think investing in projects on the Steem Blockchain by delegation is part of the blockchain's future.
But there is currently another project on the blockchain offering an amazing return on Delegation.
It's DLIKE.
Because investing with Steempower has my peak interest right now, I dove into it and there is just something I don't understand about this one.
They are offering a 1:1 return on delegated STEEMPOWER in this post.
1 SP = 1 DLIKE token per day.
They also have an IEO on the IDCM exchange going currently selling DLIKE tokens for $0,025 each. here.
But let's do the math:
If I would buy 10000 STEEM @ 0,43 = $4300
A DLIKE token in the IEO = 0.025 USD.
Investing $4300 in the IEO = 172,000 DLIKE tokens.
But buying 10000 STEEM and delegating it = 10000 DLIKE tokens per day.
In 17 days you would be able to earn 170,000 DLIKE tokens and still have 10000 STEEM.
Total Sales Amount: 8,000,000 DLIKE in the IEO.
In other words, If I would delegate my full 200k SP I would earn the whole IEO in 40 days.
Why would anyone invest in the IEO? What am I missing?
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