Leofinance in a nutshell...

in LeoFinance3 months ago

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Recent projects attracted a lot of attention and new people to the Leofinance community.
Members of the community sharing their Leofinance posts on multiple social media platforms and thereby promoting the Leofinance community and their projects.
We’ve seen a lot of new people visiting the Leofinance community and registering accounts.

People on other platforms often ask what this Leofinance community is.
This is the reason why I decided to create a “Leofinance in a nutshell” blog which explains the basics of Leofinance.

What is Leofinance?

Leofinance is founded by @KhaleelKazi and is a community of people that are interested in financial subjects. Information of all sorts of financial related subjects is shared on a social blogging platform.

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This platform is built on the Hive blockchain. This means the content is not stored at or controlled by a company. There is no form of censorship on the Hive platform, so you can post whatever you like.
There are multiple different front-ends to display the information on the Hive blockchain. Leofinance has their own interface; www.leofinance.io
There are way more communities on the Hive blockchain about many other subjects like photography, sports, politics, you name it.
Some of them also have their own interface, but all communities on Hive (including Leofinance) can be accessed via interfaces like hive.blog, PeakD or Ecency.

Creating an account

When you want to interact on Leofinance or other communities on the Hive blockchain you need to create an account first.
You can create a Hive account that can be used on Leofinance by clicking the “Get Started” button on https://leofinance.io/
There are several ways to create an account for instance with Twitter or Metamask. The team is working on registration with Facebook and Google too.

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You can have your account up and running in a minute.

Earning with Leo tokens

The main currency of the Leofinance community is the Leo token. There are multiple ways to earn Leo tokens.
The first way is by publishing blog posts. When you create an article in Leofinance all other Leo holders can vote on your post. This is called curating. Curating is the second way to earn Leo tokens.
When you have earned Leo tokens you can choose to stake them. Staking Leo is actually locking your tokens in the platform. The more staked Leo you have, the more voting power, the more you can earn.

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For every vote you cast on a post 50% goes to the author of the post and 50% comes back to you.
In contrast to Hive and the Hive token, Leofinance works with a flat curation fee. This means that it doesn’t matter when you vote; the fee will always be the same.
Content created with the Leofinance front-end earns you 10% more Leo than when you create it with any other front-end.

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Voting power starts at 100%. Every 100% vote will lower your voting power with 2%.
Your voting power shouldn’t be less than 80% and will replenish over time.
Voting on posts is possible in 7 days after publishing. After these 7 days both the author and the curators will be paid out in liquid Leo.
This liquid Leo can then be staked again to increase your power.

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The Leo token has shown a steady increase in price in the past months. The price raised from $0.25 to more than $1.15 today. And it looks like this is not the end yet (this is no financial advice!!!).

More information can be found on Leopedia: https://leopedia.io/

Some tips

When you visit the Leofinance community for the first time it can be quite overwhelming. There are so many projects and other subjects. Recently they launched CubDefi with a new Cub token and soon there will be a new Micro Blogging platform named #ProjectBlank
Just take your time to read lots of blogs first. Also try to interact with other users by commenting on their posts. The engagement level of Leofinance is very high.
Find some people that you think post interesting stuff and follow them.
You could also join the Leofinance Discord channel: https://discord.gg/Vx934RhcGn
If you want to post something yourself it’s always good to create a blog post to introduce yourself to the community.


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FriendlyMoose

I'm crypto and security enthousiast with a passion for photography that likes to play games.


Follow me on noise.cash: FriendlyMoose
My photos on Wax: wax.atomichub.io
I play Cryptobrewmaster
I play Sorare Fanstasy Football
I'm using Binance to trade crypto

Posted Using LeoFinance Beta

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I think this ecosystem is very overwhelming for new members. We need to make it easier to interact and project blank will be a big part of that. I know I have been helping people figure out how to get money into HIVE/LEO so even simple question like that are critical to get people to stay.

Posted Using LeoFinance Beta

That's a fairly accurate summary for noobs. There is s so much to learn if you dive deep enough but it's good for everybody to know the basics.

Always great to have a resume for new things , gonna share it in the terminal

This will be useful to new username. I am going to share this on twitter.

Posted Using LeoFinance Beta

Thanks mate!

Posted Using LeoFinance Beta

Thanks, this is something I was looking for. But did not get one here. You write: "For every vote you cast on a post 50% goes to the author of the post and 50% comes back to you." -I mean 50% of what? Is casting a vote creating some kind of instant wealth? Where does it come from?

Posted Using LeoFinance Beta

The weight of your vote is calculated on your staked Leo.
As you can see in the blog my 1700 staked Leo tokens give a 100% vote of around 0.14 Leo

If I gave your post a 100% vote you and I would end up receiving both 0.07 from that vote.
This will be added in liquid Leo in our wallets after 7 days.

Posted Using LeoFinance Beta

Thanks for your reply! So I will have to see what has happened after a week :P I am very new to leofinance and was looking for a faq, but unfortunately found nothing... Probably Crypto-related-greatest-weakness: If you do not find out yourself how some things work none will explain it to you :(

Again: Thanks soo much for YOUR explanation! :)

Posted Using LeoFinance Beta

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Bang, I did it again... I just rehived your post!
Week 48 of my contest just started...you can now check the winners of the previous week!
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Hi Moose. Thanks for this article, I have a better understanding of LeoFinance now. Great finding you in Hive 🙂 Have a good day.

Fantastic overview! I love Leo Finance. My only real regret about it is that I didn't start being more active on here sooner. I always kind of knew it was around, but I didn't really pay attention to it like I clearly should have. Attention that it most rightfully deserved. I am here now and I guess that is what matters most! Better late than never!

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There is still a lot to gain.

Posted Using LeoFinance Beta

For sure!

Posted Using LeoFinance Beta

As far as verification systems go, email is good to. Better in my opinion.
Awesome article.👍👍

Posted Using LeoFinance Beta