All Your Leo Is Mine - Every 10%

mistakili (75)in HODL • 4 years ago

I'm done burning LEO, if you notice, I hardly ever use the Leofinance interface to make my posts, @trumpman was the first to call my attention to the fact that I was missing out on better curation potentials and 10% of my rewards were being burnt from the Leo token ecosystem, I thought I was doing the LEO token a favour, pffft, who am I kidding! I'm too poor to be dashing out 10% of my little earnings.

On my very bad day's I get an average of 15Leo tokens on my posts on Leofinance.

50% goes to curators,
10% for burn and
40% stays mine which makes a total of 6Leo tokens for my efforts.

It has finally dawned on me that those extra 1.5leo tokens could do better sitting in my wallet.

The thing is before Leofinance became this shiny place of haven everyone wants to associate with, some of us were there from the scratch when there was no roof, not to talk of the luxury paintings and artworks most new users are now gawking at on the wall, so the 10% burn fee was a given at the time, it seemed reasonable to me, but judging by the latest developments and future potentials, I think Leofinance can now do fine without my 10%.

A huge fist bump to myself on behalf of the entire Leofinance community, we all birthed this baby with our blood and sweat.

It got me thinking, with the happenings on Leofinance, a lot of communities on Hive also have the potential to replicate what Leofinance has in terms of growth and development, but the delay in release of SMT's is stifling this thought.

There are few communities with thousand of subscribers and hundreds of daily posters, these communities could take off with the appropriate sinks and burn models if they had their own tokens as SMT's, while I understand why they may not want to move over to Tribes on Hive-engine, they are really missing out on a lot of growth potential. I think it would have been so much cooler if all SCOT's were SmTs, but I'm not sure SMT's will have the flexibility SCOTs have.

Speaking of Hive, I've watched my Hive account balance in dollars drain from over $2k when Hive was merely just around $0.3 levels to barely over $1k at the present price...I should be sad, but my only consolation has been my Leofinance holdings. I'm not exactly sure why Hive is not implementing an Ad revenue model for token buy backs because with the amount of DAU's it has, it will surely go a long way.

Perhaps Hive tokens price actions are being exclusively subjected to market forces for some reason, for all I know, few months ago we saw it do a x10 with no AD revenue models, so I guess it is what it is. Will we be seeing another x10, x5, x20 price moves in the near future? Only time will tell...

On the tale of being the winner of the award of the best person to always be right at being wrong, here I go again. I bought about 200Leo tokens at $0.113 per token just so that I could sell high and buy back low, well guess what, I sold at $0.170, but the price of each token has refused to retrace for me to buy back low, now its shot through its former support level and hitting a new all time high, Welp!

That's it for today guys. Thanks for reading.

Want to join Leofinance where we post about financial, investment and cryptocurrency topics? Click this link to contact me through my twitter account.

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#leofinance #investing #finance #buidl

4 years ago in HODL by mistakili (75)

$7.57

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behiver (74) 4 years ago

The comparison between LEO Finance and HIVE has some strong points and indeed one could replicate the other best things in order to rise. For me HIVE mostly offers the infrastructure, while the Secondary Layer tokens are the shining stars. But, both should find sustainable ways of bringing value forward and if one link is weak the entire ecosystem might suffer.