It's been a while since I've heard some real good stuff about LEO! But I never really got to learn about it in as much detail as I should have. I blame the barking spiders LOL! (Splinterlands Joke)!
Well, to be fair, I didn't much understand the whole deal about layer two and tribe tokens in general, because when the Tribes, and the then Steem engine came out, I was on a Sabbatical from the blockchain! That's a story for another day! By the time I returned a couple years later, so much had happened, it was a bit too overwhelming for me to get all of it in. I focused on the basics, i.e. growing my Steem Power (Now Hive Power). And the within a month, Justin Sun happened, more overwhelming stuff! So my research on the tribes kept getting delayed.
I kept my nose on the grindstone and worked toward my target of 2000 Hive Power and reached there pretty quickly. So quickly that I surprised myself. I realized, this Blockchain is no longer what it used to be a few years back, with all the circle jerking and hard work going unnoticed! A lot had indeed changed. The big stake holders were focused on rewarding hard working authors, and distributing to as many people as possible.
I have been talking to a lot of knowledgeable people on discord and on the chain and one thing was evident to me. Everyone resonated the same ideology, Decentralization. Everyone seemed to be hell-bent on the concept that the more widely distributed a token is, the more value it will hold in a truly decentralized economy. The big stake holders no longer wants everything for themselves, they want it as distributed as possible.
This is where my journey on Leo gets a kick up the arse! My good friend @trumpman has been speaking about Leo a lot on his posts and I noticed @taskmaster4450 was post all his contents via the Leo Front end. I never really understood what difference it made until I read the latest post by leofinance on how some of these authors are in fact making a lot more in terms USD in LEO than in HIVE! This came as quite a surprise to me and this is the first time I started considering the possibility of a layer 2 token becoming more valuable than the native HIVE token itself!
I was talking to @taskmaster4450, @sidwrites and @hetty-rowan over at the Mancave Discord and I mentioned reading this somewhere (the 2nd layer tokens having more value than the Native token itself) but couldn't remember where I read it! Funnily enough, once I went back to my browsing history, it turned out to be a post by @taskmaster4450 himself! He must've been laughing lol!
Earlier this week, I've already seen and been a part of the impressive launch of BRO and the strength of an engaging community in the Mancave and Neoxian city began to intrigue my interest in more of the tribe tokens! The launch of BRO showed us just a glimpse of the endless possibilities the Tribe Tokens provide us in terms of growth!
So, even though I'm pretty late to the party at LEO, the party has just started and I wanna be a part of it! So with this first post through the Leofinance Front End, I declare my target of reaching 1000 LEO tokens as quickly as humanly possible! I don't want to set myself a deadline _(when has that ever worked)!_ But when I have a target to work towards, I tend to perform pretty well!
BDCommunity Witness
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Nice (and quick!) work @simplifylife. Witnessing the ongoing conversation in our Man Cave, it was impressive to see you put this together.
All the best to you in reaching your objective in record time (I did my "teeny, weeny" part, with the LEO I have staked). I know it will be put to good use!
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Much Appreciated mate! Yes, this post got done quicker than I expected. I was thinking of having the draft ready by tonight, and finish it tomorrow!
Sure, very happy to help a fellow member of our "band of brothers!" 👍
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Please remember me when you are filthy rich :v.
BTW, broke through the 67 reputation mark. Next target 69 :v :v
You have been spending waaay too much time with sourov! Azircon dada, some help here in bringing Sakib back on track!
Tons of space on the boat, Hop in with me! You know where to find me ;)
Congrats on 67 though! I'm nearing 67 too :D
why bring dada into all this? Kaner goray loading hoye jabe to --__--
Ill hop in, just dont think im mature and experienced enough to be a part of leo..long way ahead of me. You are so experienced in crypto, like a jack of all trades. When the time comes, ill come find you :)
Maybe that's exactly what is needed here ;)
Me neither bro! I don't consider myself too experienced at all! Look at it this way. You know about HIVE. You are already Light-years ahead of the majority!
There are many schools of thoughts on second layer token. I commend and appreciate your positivity. But let me give you the flip side. After Steem-Engine was launched very quickly there were 100s of tokens. How many of them are alive today?
That said you are talking about a token that does have some following. Arguably the most successful second layer token is probably DEC. It does have a use case, outside of staking and voting. It’s an in game currency. But still notice how it is struggling to stay up.
Question conflict of interest when people talk about second layer token.
FYI. I don’t have almost any second layer token. I don’t know that’s a good thing or a bad thing... just a fact.
That's right. Not all the tribes survived. Maintaining the supply and demand balance is very important for any tokens. Pooling resources from other means and using that to purchase tokens from the market and burn them is something that LeoFinance has been doing regularly. That is one of the reasons why the price of Leo is pretty stable.
These tokens will mostly help out people who have Finance as their only niche and let them contribute regularly on that and get rewards. I know a few people who don't even care about their Hive rewards as they are satisfied with their rewards from the tribe tokens.
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I need to learn more about the statistics of this. But yes, this is a talked about feature and I've seen a lot of people praise this on different servers, including Neoxian city.
Absolutely! This is why I hadn't invested in any Tribe token for quite a long time. Until recently I got into DEC as I started playing splinterlands!
I don't really know enough about LEO yet to make a comment on where it is headed, but as you said, they have a good following! And it's just like earning HIVE isn't it! Just adding an extra tag, or using their front-end! So I'm still playing it safe :D
Very quick written, but very nice post. And it sure was a very interesting conversation to be in. I hope you get to reach your goal very soon I will keep an eye on the posts you write on your way. Good luck!
Hey, thanks so much for stopping by Hetty! It sure was an enlightening conversation! Looking forward to yours tomorrow!
Love the challenge.
I am doing some math. It appears 1000 LEO is 0.03487*1000 = $34.
Not too difficult, right?
I have already made myself known to some of the decent HIVE stakeholders already! So earning $34 in terms of HIVE shouldn't be too difficult. But earning $34 in LEO, we'll see ;) And should also have to keep in mind, I will not really be doing only finance posts. A lot of my posts will be random stuff that will not probably be suitable for LEO curation. So need to factor in all the associated factors into calculation. Let's see how it goes!
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Just wait until LEO is $1, then it makes $1,000. 😁
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Plenty o strong votes, few people still to claim them. You will be there before you know it!
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That's very encouraging! I saw your "Shittiest Investment" contest. I'll come up with a good post for that 😉
That's a great start @simplifylife. It is never too late. Leo is one of the tokens that have been maintaining the price and the community bonding from the beginning. I have over 2000 LEO staked right now. I started off with less than 500 LEO that was airdropped to me and till now the journey has been great. Hope you have a good time here in LeoFinance community.
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Thanks Bala!
2000 staked Leo, that's quite impressive!
Yes indeed. I didn't do any investment as such. All that were earned. But ya with good posts and support from LEO whales, it is definitely possible to reach your goal of 1000 LEO very soon. All the best. Cheers! !BEER
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One thing I found is that when getting interested in a project, it stimulates the idea of searching deeper into it. I have a feeling you will like what you uncover with LEO once you start looking.
We will help you get to your 1,000 LEO so you can work on your next goal.
A lot of good things happening on our path forward.
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I'm very excited about what LEO has to offer. I joined the discord as well, will try to pop in regularly and get to know a few more people from the community! Thanks a lot for your support here!
There are many tribes and second layer tokens. Only a few tribes stand out and are doing better. The return is higher and it also has the risk. At some point, you might take some risk after witnessing the progress and possibility.
Looking forward to reading your next post!
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Yes absolutely. The reason for this is the core issue HIVE has had for a while, lack of community development. The tribes that has worked towards community development rather than earning money are the ones that are thriving!
I am in with this as I love the idea! I shall join you on this journey my friend @simplifylife
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That's awesome! You already have an impressive background and experience in the finance sector!