Powered up 500 LEO today on Leo Power Up day

in LeoFinance2 months ago (edited)

Today is Leo Power up day. On the 15th of every month, it is going to be Leo Power up day. We had so many articles last week describing this. I'm very glad to be a part of this. I already completed my goal of reaching 8000 Leo power and did not focus on powering up more LEO tokens. But considering the fact that this is a new initiative and it is interesting, I would like to participate with 500 LEO tokens.

I have powered up 500 LEO on my alternative account @bala-leo. I have delegated all my LEO tokens to the @india-leo account for supporting manual curation and for a 100% curation reward share. I hope this initiative becomes a success and many people power up for this initiative. There are so many projects from the Leofinance team and it is one of the active communities on Hive. But I personally think it has slowed down a bit. Hope they get back to speed and start building some real things.

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I'm still happy to stay invested but sometimes I get this feeling that this project is not going anywhere. There used to be a time when the project was at its peak and many people invested a lot of money in this project by buying lots of LEO. Now that we have so many other tokens, I was wondering if people are getting distracted by other tokens and if the focus on the main token is getting away. Let's see how it goes. One other concern I had was what happened to the advertising revenue.

https://leofinance.io/@leofinance/introducing-the-new-leoads-mechanic-or-leo-power-balances-will-begin-growing-with-built-in-apy-from-leofinance-ad-revenue

I saw the above article that talks about the new revenue sharing modal. But I'm not sure if it is already live or not. Though many people believe that burning a token is wrong, I believe buying or taking some tokens out of supply is absolutely necessary. If more LEO is distributed to people, it will only make them dump those LEO back in the market. I don't know how it will help tokenomics in the long run. Well, this is just my perspective.

Advertising revenue

During the initial days, I was attracted to Leofinance because they had this great concept of getting revenue from Advertisements and using that revenue to balance the price of Leo. I don't know what happened there but this initiative stopped. I was happy about this initiative because this brought a lot of funds to the Leo ecosystem and the Hive ecosystem from the outside world. I don't know if we are still getting ad revenues or to whose pocket the revenue is going.

I wish the team gets back to that and use that fund to recover the price of Leo. I understand they worked on so many new tokens, bridges, and chains but the price of LEO is not being focused and it is continuously dropping. This is not a complaint but I don't know when people would reach their ROI on the CUB they bought. It will be nice if the Leo team starts building again and give us all some hope.

I hope someday we see the price of Leo recover back and we have more options to burn Leo tokens. Right now the supply of LEO keeps on increasing. I understand we need innovations on other chains but there should also be plans to recover the value of the token and maintain the value of the token along with the growth. Maybe a few more income streams like Advertising revenue would be super cool for the project to grow.


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Thanks for participating! If people buy and hold Leo the price goes up, it's that simple.

Posted Using LeoFinance Beta

I don't think it is that simple. Lol

Tired of soon jokes. It is not funny anymore. Need projects that would reduce the circulating supply. Need projects that can burn some existing supply. The supply is high and demand is very low. Not just Leo but to all other DeFi tokens too. The supply is going to increase forever.

It is like opening water in your kitchen sink. The water should go out through sink outlet. We can't rely so much on increasing the sink size.

Leo isn't a defi token, it's a very young social media site with around 5000 users, give me a break we have plenty of room to grow. The crypto obsession with burning is backwards, you focus on demand first and work on controlling the supply when you develop a demand. If no one wants what you are selling the supply doesn't matter a bit.

I think there is room in the middle, but scarcity without demand is just stagnation.

Posted Using LeoFinance Beta

Leo isn't a defi token

I wasn't talking about Leo. I guess you missed reading this part "Not just Leo but to all other DeFi tokens too". I think CUB, POLYCUB is a DeFi token.

I don't understand why people get so offended when we talk about burning. I personally think burning is important for any token that has an unlimited supply. Increasing the user base for tokens that have a limited supply is understandable. Just my personal thought.

I never talked about reducing the supply. I'm also talking about finding ways to increase the demand.

Note: No offense here. I'm also just an investor like you. I bought CUB when the price of CUB was over 4$. I still believe in Leofinance. I'm trying to participate in all the initiatives done by the team. I bought pCUB, I bought CUB, I installed their mobile app, participated in LPUD and I use Leofinance UI to post every single day. ( Even though it has so many bugs after spending 20k$ on that and nobody cares to fix it.) Just sharing my frustration and that's all.

My answer did come across snarky sounding, and while I still think there is way too much focus on burning, I should have taken the time to tone down my response as there is simply no need to be rude about it.

We disagree, that's all.

Regarding frustration with Leo and Bugs, I hear you that young projects have a lot of flaws, and Khal's approach is to move forward and fix backward. Many find that frustrating.

I do want people to make suggestions and give real feedback, so I'm sorry if I came across snarky.

Posted Using LeoFinance Beta

Leo isn't a defi token

I wasn't talking about Leo. I guess you missed reading this part "Not just Leo but to all other DeFi tokens too". I think CUB, POLYCUB is a DeFi token.

I don't understand why people get so offended when we talk about burning. I personally think burning is important for any token that has an unlimited supply. Increasing the user base for tokens that have a limited supply is understandable. Just my personal thought.

I never talked about reducing the supply. I'm also talking about finding ways to increase the demand.

Note: No offense here. I'm also just an investor like you. I bought CUB when the price of CUB was over 4$. I still believe in Leofinance. I'm trying to participate in all the initiatives done by the team. I bought pCUB, I bought CUB, I installed their mobile app, participated in LPUD and I use Leofinance UI to post every single day. ( Even though it has so many bugs after spending 20k$ on that and nobody cares to fix it.) Just sharing my frustration and that's all.

Hopefully, it will still count, as it is 14 June in PST.

Yeah hopefully. 🙂

I think you make some other good points too about the LEO token. Too many goals at the same time? Lots of focus on tokenomics but not so much on building that we see on the other Hive Dapps.

Some transparency on the leo community voters would also be welcome.

If LEO were butter it would be spread too thinly.

Posted Using LeoFinance Beta

That could be true. If you chase two rabbits, you will lose them both also springs to mind.

The time Anezka caught two rabbits.

Screenshot 20220615 15.48.55.png

Maybe chasing two rabbits is a good thing. After all, Anezka caught them both.

Posted Using LeoFinance Beta

Agree on those points. The tokenomics is also not very great. They do absolutely nothing to keep the value of the tokens up.

True, that is the elephant in the room.

What is the LeoFinance Server Time?

Posted Using LeoFinance Beta

I'm not sure, maybe that's one for the Devs to answer!

Congrats Bala. It is very nice to participate in this initiative.

Posted Using LeoFinance Beta

Yes cheers!

That's a fair point well said by you.
The token is so much in supply and a good decision has to be made.
500 leo is a big one.
Congrats on your participation.

Posted Using LeoFinance Beta

That is really great move bade bhai 🎆, i did bought some leo recently and i will keep buying hive, leo and hbd 🎉

!giphy great

!PIZZA

I tend to be against the burning of tokens and I prefer for them to be re-distributed. Of course, that is my own view because who thinks burning money is a good thing.

Great job powering up LEO. I plan on powering up when I get up tomorrow.

Posted Using LeoFinance Beta

I agree. I never really understood the "burning tokens" thing. If you wanted less tokens why not set up your tokenomics that way since the beggining?

Posted Using LeoFinance Beta

Burning is important in any tokenomics that has unlimited supply. If too much of supply and less demand, the token value will go down.

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