Nope... I initially though it was something like SBI, but someone said it isn't.
Posted Using LeoFinance Beta
You are viewing a single comment's thread from:
Nope... I initially though it was something like SBI, but someone said it isn't.
Posted Using LeoFinance Beta
@spinvest is the main account. SPI is a token on Hive engine. It was originally sold for 1 HIVE each...then 2 hive. There are 100K SPI tokens.
The HIVE (STEEM) brought in was then powered up and leased out. This brought in more Hive each week. That was then powered up and it kept growing.
At the same time, there are posts that are put up each day, which get rewards which also adds to the pool.
Finally, some of the Hive was used for off platform investments (as well as on chain). It now holds 1 BTC, some ETH, gold, and silver. There are also on chain like Splinterlands alpha packs, and a bunch of LEO. There is also a sub-group of @spinvest-leo which holds LEO and curates. Plus the posts generate LEO that helps entire holdings.
All of this is what backs up the SPI token.
LBI will follow a similar plan.
Posted Using LeoFinance Beta
I get it now. Thanks for having the patience to explain it to the little cub :))
Posted Using LeoFinance Beta
No problem. It is a worthwhile project.
I will be putting like 10K LEO into it, just to let you know.
Posted Using LeoFinance Beta