This week in the Liotes News:
- This week we have managed to burn half of the minted supply of LEN tokens
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A project run by @ph1102 and @achim03
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50% of the minted supply burnt this week
Liotes Power Challenge 2024
Today, the @liotes.one account owns 231 Hive Power that are delegated out to the Liotes.voter account. This generates daily dividends in the form of LEN tokens that are filling the pot. Today, the pot contains 37 LEN tokens.
Thanks for the good news Liotes.
Thanks for stopping by!
Thanks for the report. As I usually say, these finances are not my area, but I would ask whether I have a good grasp of them:
About half of the LEN token minted is equal to about a third of the LEN token dividends?
or
500 minted plus 1000 somewhere in circulation have been spent on dividends?
There are every week 1008 and LEN tokens mined through LENM. These tokens go directly to the holders of the staked LENM.
We have bought more than 2000 LEN tokens from the market. We have distributed around 1500 LEN tokens to delegators and we sent 500 LEN tokens to @null.
Thanks for the news.
!WINE
You are welcome!
Wow 50% burn? That's great! More value for the remaining tokens!
Exactly, by reducing the supply of LEN, we give value to the remaining tokens in circulation.
Nice and thank you for the update. :)
You are welcome!
It'll be interesting to see how layer 2 HIVE tokens like LEN performs with the entire crypto market just about going on a rampaging bull run right now.
Since LEN is pretty closely linked to hive, it will probably follow the trajectory of hive.
Thanks for the quick update! 😁
You are welcome!
I think it's good to burn off half of the minted supply and I agree that it depends on the market. You can't control that part.
I double checked my witness vote and I already have liotes voted.
Thanks :-)
That is a high burning percentage.
!LUV
liotes, yeckingo1 sent you LUV. 🙂 (1/3) tools | trade | connect | daily
Made with LUV by crrdlx.
We would like it to be even higher but it's tough when few people sell them :-)
Thanks for the update! Just curious, how do you guys decide how many LEN tokens to burn?
That's a very good question. We try to see how many tokens are in circulation and how many tokens we have managed to purchase from the markets. Also sometimes we need to provide more liquidity to the diesel pool. Basically, we try to burn as many tokens as possible.
I see, thanks for sharing!
The mint and burn balance is important. Thanks for sharing the progress!