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 not great. The leo.voter account missed 2 payments this week. This happens from time to time but not normally twice a week. We had no content rewards as I have not been posting the weekly report for 5-6 weeks already, LEO curation is low this week as well, around 30-40 lower than normal which is strange because I staked around 12k more LEO 2 weeks ago. Curation rewards can swing up and down alot so maybe next week will be a high week.
At least now we know the minimum amount of LEO LBI can earn in 1 week from being completely passive.
Not too much has changed since the last update, i staked 12k LEO, we earned some HP from inflation and we got a HBD interest payment for 50.52 HBD. We're holding alot of LBI tokens from buybacks over the past few months, I dont think there's a buying demand so these will be burned off in the end.
We have 1200 liquid HIVE sitting. Not 100% sure what to do with it, will 90% probally power it up and delegate it over to leo.voter.
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Our non-HIVE holding has been fun since the new year. CUB earnings are down to around $5 a week in harvest from a $2k LEO/HIVE LP so maybe time to jump ship and get that LEO back to the HIVE chain. I pray to god the bridges for bLEO and bHIVE are working but I dont hold hope. I know the bHBD bridge is not working because we currently hold 2218 bHBD worth $900 on BSC and no way to get them back over to the HIVE chain. Im sure there are lots of others holding trapped bHBD and im sure many have sold them off for way under $1. I still value these at $1 because we'll get these back over to HIVE even if we have to wait 2 years. Selling off at a 50% loss is not an option when they are pegged to HBD. Im sure the Leo team will fix the bridge someday maybe.
I've not been adding BTC for the past 4-5 weeks because $5 is not worth it, we've been able to build up a nice stash worth 60k LEO. From Jan 2023 until a few weeks back, I converted every CUB harvest into BTC and now it is worth 10% of the total fund. Crazy stuff to think 10% of LBI is from 1 year's worth of CUB harvests converted to BTC. Our ETH did well this week as well, we got it from an old EMP investment for those that remember that.
When next CUB farm?
RECAP
The LBI token price has been going mostly sideways since the last report, maybe down a little.
Over the past 5-6 weeks since the last update, I have still been recording everything each week, just not reporting it. Going forward, I might only do these update reports monthly because, on a week-to-week basis, not much happens.
I have seen a few requests asking if we'll do more buybacks and I guess if people want to cash out, the answer is yes. It might take a few weeks to decide which holdings to use and plan it out but in a few weeks, we'll offer a buyback on hive-engine. We've bought back about 15% of the tokens already.
Someone suggested LBI to merge with SPI, others have suggested this in the past and not really an option because SPI is hardcapped and im not creating a new SPI/LBI token because I'll lose SPI investors that are not active. LBI is its own thing on LEO. I think the majority of token holders would prefer it this way as well.
I have no plans to wrap LBI up, I still think it can turn good. In terms of LEO, the project is winning but LEO is down alot. Maybe dwelling on the past is the wrong way to go about it, it's been down a long time already. There is alot of potential still for LBI but things are just slow during the bear market.
Im open to any ideas people have, please share and discuss in the comments below. It's plenty easy to set curation trails, weekly raffles/lottos, etc if people are willing to chip in with the work.
Thanks for checking out this week's report. Have a great week.
Get LBI on LeoDex - https://leodex.io/market/LBI
Get LBI on Hive-engine - https://hive-engine.com/?p=market&t=LBI
I didn't even know about the LBI. Maybe because I wasn't following Leo activities much. That wasn't deliberate but the feeling that we get very low recognition in inleo minimizes the time we spent there. If I get more Leo token, I too will try to stake the LBI tokens.
Thanks for the update! I basically agree on almost everything and it make sense not to merge as per the hardcap on SPI.
Is good to have a "smaller brother" accumulating LEO. Our time will come. Good things come to those who wait, etc etc. In the meantime, I agree that CUB is basically done. I would definitely move that to SPS as fast as possible, as during the next 5 years SPS stakers are going to receive COLONY airdrop by the guys at the helm of Splinterlands. Also, SPS is compounding at about 13% as well, so it could be nice.
Thanks again
Wen votes for lbi holders, maybe with a delegation like eds? 😳😂
Oh BTW, please consider to switch to Tier 3 with @leo.voter ! the APR of the whole operation is going to go through the roof!
If you don't know what Im talking about:
https://inleo.io/@renovatio/leo-tier-3-delegation-day-one-leovoter-becomes-huge