RE: How do the LENM miners work?

[achim03]

Hehe, nice to see somebody calculating with us :-). There are exactly 1008 LEN tokens minted every week by staked LENM. These are the only minted tokens to augment the circulating supply. The 1940 tokens paid as dividends are actually purchased on the market or the diesel pool and then redistributed to delegators.

To pay dividends we don't mint tokens, we actually buy them on the market. This gives provides a constant demand for these tokens. If the price of LEN goes down, we buy more tokens because our APR is based on curation rewards. If the price of LEN goes up, we distribute therefore less tokens.

Comments

[ervin-lemark]

This is really interesting !INDEED

Why? Because I sell $LEN tokens that I get as dividend, through $SWAP.HIVE, to buy and stake $LENM !LOLZ

So, am I feeding the beast with its own meat?

!invest_vote

[achim03]

You are doing a good job :-)

Do you know that you can directly swap LEN to LENM over the diesel pool LEN:LENM?

[ervin-lemark]

Now I know. Of course, I could have thought of it before !LOLZ

!BEER

[lolzbot]

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(1/4)

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[beerlover]

^{View or trade BEER.}

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[beerlover]

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[ervin-lemark]

Actually, I am selling almost all liquid Hive-Engine tokens that I receive daily and transform them to $LENM. Step by step, easy does it !INDEED

!invest_vote

[achim03]

That's what I call a good strategy ;-)

[investinthefutur]

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@ervin-lemark thinks you have earned a vote of @investinthefutur !

[lolzbot]

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_{Credit: reddit}
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(3/4)
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[investinthefutur]

@ervin-lemark denkt du hast ein Vote durch @investinthefutur verdient!
@ervin-lemark thinks you have earned a vote of @investinthefutur !