Welcome to this weeks LBI token earnings and holding post
What is LBI?
The LeoBacked Investment (LBI) token is the first of its kind, the 1st token to be valued completely in LEO. Each LBI token represents a percentage ownership in the overall fund including all LEO, HIVE, off-chain and wallets operated by @lbi-token. The goal is to provide a community based and ran investment vehicle focused primarily on the LeoFinance community and LEO token. We provide a weekly LEO dividend payment to all token holders whilst also increasing the value of the LBI token slowly but consistently over the long term by only investing into things that will stand the test of time.
LBI is a long term HODL token based on SPI's model. Because these tokens are backed and valued in their primary assets, the value only increases. Think of it as putting $1000 in the bank and earning interest. In theory, you should never have fewer dollars. The $1000 is the LEO you give us to buy your LBI token and the interest is the earnings we produce with that LEO.
LEO income this week was lower than last week but not by a huge amount overall. I see there's a big dip in LEO curation, last week it earned 249 LEO and this week earning just 166 LEO for whatever reason. The rest of our income streams are within a few percent of what they did last week.
Looking at wallets, the LEO liquid balance continues to increase 300-400 LEO per week. Our HIVE wallet have taken a small dip in LEO value this week as LEO increased a few percent and HIVE declined.
Our non-HIVE holdings are the same as our HIVE wallet and have dropped in LEO value a tiny bit. The market has been going sideways pretty much the past 2-3 weeks with not alot of action. I continue to convert defi harvests into BTC to grow a small stash of that. I will continue to do this until BTC passes over $30k and then i'll focus on topping up our ETH to 1.
I plan to do another LBI token buyback on hive-engine within the next few weeks to gather up the last of the tokens people would like to sell back. This 2nd time round, the buybacks will be funded by non-HIVE assets. After this next buyback, all the bought-back LBI tokens will be burnt to reduce to circulating supply. We are sitting on 26k tokens to be burnt so far.
Thanks for taking the time to check out the report and stay up to date.
Get LBI on LeoDex - https://leodex.io/market/LBI
Get LBI on Hive-engine - https://hive-engine.com/?p=market&t=LBI
LBI is hard-capped, I think, is that right?
yes, hardcapped
How many LBI are there in total? Sorry if the answer is staring at me in the face.
Thanks. I knew it would be right in front of me.
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