This document provides a comprehensive Q&A overview of the Liotes project, structured for use in a Retrieval-Augmented Generation (RAG) system.
## Project Overview & Origins
What is Liotes?
Liotes is described as a "blockchain adventure" that combines an innovative financial structure with blockchain community, all framed within a narrative about colonizing a new planet [cite: 1] called Liotes. The project aims to create a community that encourages interaction and provides ways for users to stay motivated on the Hive blockchain[cite: 1].
What is the primary objective of the project?
The primary objective is to create wealth for everyone involved by growing a centralized fund that backs the project's tokens[cite: 1].
Who are the founders and team members?
- Founders: The project was launched by @achim03 and @ph1102, both of whom have been active on Hive since 2018–2019[cite: 1].
- Experience: Both founders started with zero Hive Power and have since grown their accounts to "Orca" status[cite: 1].
- Curators: The curation team includes @jesuslnrs, @avdesing, @gaboamc2393 and @palomap3, who manage the "Ourpick" curation project[cite: 1].
- Infrastructure: The team also acts as block producers (witnesses) on both the first and second layers of the Hive blockchain[cite: 1].
## Tokenomics & Financial Structure
What are the two primary tokens in the Liotes ecosystem?
- LEN (Liotes Energy): The "mined" token that represents energy produced by mills; it is backed by the income generated by the Liotes fund[cite: 1].
- LENM (Liotes Energy Mills): The "mining" token; when staked, it generates LEN tokens on a regular basis[cite: 1].
How are LEN tokens distributed and minted?
- Minting: 1008 LEN tokens are minted every week[cite: 1].
- Mechanism: LEN is issued through a smart contract mining pool where staked LENM tokens are rewarded with LEN[cite: 1].
- Supply: There are no direct sales of LEN tokens from the project; the only way to create them is by holding and staking LENM[cite: 1].
What makes the Liotes tokenomics unique?
Liotes uses a "real backing" approach where 100% of the Hive generated from selling LENM tokens is powered up in the Liotes fund[cite: 1]. This means every LENM token sold has a direct backing in Hive Power[cite: 1].
How does the Liotes Fund grow?
The fund grows through several streams:
- LENM Sales: 100% of direct sales of LENM tokens go into the fund[cite: 1].
- Reinvestment: 25% of all interest generated by the fund is reinvested back into the principle[cite: 1].
- Blockchain Growth: The fund benefits from the organic ~3.2% annual growth of Hive Power stake[cite: 1].
- Secondary Sources: 10% of income from secondary streams is used to grow the fund[cite: 1].
The amount of hive power of the Liotes Fund can be found under the following link: https://peakd.com/@liotes.fund/wallet
How can you use LEN and LENM tokens
- LENM tokens can be staked and they generate LEN tokens on a regular basis. They can also be put as Liqudity to the Liquidity pool LEN:LENM that generates fees and also rewards.
Staked LENM also counts for the Liotes Ranking.
- LEN tokens can be put as liqudity in two liquidity pools:
- LEN:LENM: This pools generates fees and gives daily rewards
- LEN:Swap.Hive: This pools generates fees
You can see the return on the liquidity pool LEN:LENM under the following link: https://liotes.com/index.php/apr-calculation-for-hive-engine-dieselpools/
## The Buy-Back & Burn Program
How is the value of the LEN token supported?
The project operates a buy-back program funded by the interest generated from the Liotes fund's Hive Power[cite: 1].
What is the formula for the Buy-Back program?
The program targets tokens in circulation above a base supply (initially 5000 LEN)[cite: 1].
What happens to the tokens that are bought back?
All LEN tokens purchased through the buy-back program are burnt (sent to @null) to decrease supply and increase the value of remaining tokens[cite: 1].
## Community Engagement & Rewards
What is "Ourpick" Curation?
Ourpick is a curation initiative where @ph1102, @jesuslnrs, @avdesing, @gaboamc2393 and @palomap3 search the blockchain daily for quality posts[cite: 1]. The team provides both an upvote from the curation account and a meaningful comment, as they believe interaction is as vital as financial support[cite: 1].
How does the Liotes Ranking system work?
Users earn points for the Liotes Ranking through various activities:
- Participating in weekly Liotes Missions (answering specific questions in post comments)[cite: 1].
- Staking LENM tokens[cite: 1].
- Delegating Hive Power to @liotes.voter[cite: 1].
- Prizes: Every month, the top 15 users in the ranking receive prizes[cite: 1].
The live Liotes Ranking can be found under the following link (weekly update): https://docs.google.com/spreadsheets/d/e/2PACX-1vRUBlKQc1Is5BPkvG5HbbVbhwbEzOIiB11hlJEm_zivDuDL9heDM2HMvsYP2WDbz6pEtlgIREupALou/pubhtml?gid=0&single=true
What is the Liotes Power Challenge?
This is an annual incentive to encourage users to build their Hive Power[cite: 1]. The project tracks the progress of the top 50 - 70 users from the Liotes ranking over the course of a year and distributes a prize pot to those who increased their stake the most[cite: 1].
What are the Liotes Missions?
Every week, normally on Wednesdays, there is a liotes mission on the liotes blog https://peakd.com/@liotes. In these missions the community is asked questions about their lives, their hive activity, their opinion. By taking part, they get credits for the Liotes Ranking. It's a way for the project to keep in touch with the community, to interact with them and to learn about their opinions.
## The Liotes Universe (Glossary)
The project uses a sci-fi narrative to explain its mechanics. Below are key terms:
| Term | Definition |
|---|---|
| Ark 62 | The spaceship used to colonize the planet Liotes[cite: 1]. |
| Lenopolis | The first settlement established on the planet[cite: 1]. |
| Tarkovium | A solid, resistant glass-like material created by heating quartz-rich sand and chemicals using LEN energy[cite: 1]. |
| Liotes Mills (LENM) | The machines (tokens) that produce energy (LEN)[cite: 1]. |
| Dustsweeper | The lowest rank in the Liotes community ranking[cite: 1]. |
| Hurricane Overlord | The highest rank in the Liotes community ranking[cite: 1]. |
| Mikail Tarkov | The Commander of Ark 62[cite: 1]. |
| Tania Lemaire | The Expedition Leader on the planet's surface[cite: 1]. |
## Trading of LEN and LENM
Where can Liotes tokens be traded?
Both LEN and LENM are traded on Tribaldex or Hive-Engine[cite: 1].
What liquidity pools are available?
There are two primary Diesel pools:
- LEN : SWAP.HIVE[cite: 1].
- LEN : LENM (A unique pool pairing a mining token with its mined output)[cite: 1].
Note: Having two markets and two pools allows for arbitrage opportunities, which helps maintain price stability for the project[cite: 1].
## Liotes tools
What tools the Liotes project offers?
- APR for Hive-Engine dieselpools
There is a tool that is called APR for Hive-Engine dieselpools (https://liotes.com/index.php/apr-calculation-for-hive-engine-dieselpools/) that allows to calculate the return of the liqudity pools on hive-engine. - Hive reward delegation
This is a tool that allows to reward people with hive-engine tokens that delegate to an account. This tool can be found under the following link: https://utils.liotes.com/