The 15th of every month is called Leo Power Up day. I have been participating in this power-up day for the past 4 months and this is the 5th-month people are doing power-ups. I'm happy that I'm very close to reaching my goals. I have been saving up all the LEO tokens I earned in the last 30 days. It looks like I earned close to 58 LEO tokens as curation rewards and around 300 tokens as author rewards. I moved everything to my Leo account which is @bala-leo and powered it up.
I initially thought I would be completing my goal of reaching 10000 LP with the help of the LEO tokens I'm saving up but it wasn't possible to complete the goal this month. I'm glad that I'm already very close and I just need a few more tokens to reach my goal. In my next LPUD, I'm sure it should be possible to complete my goal. I don't know if I will be continuing my participation after a month or not. I delegate my LEO power to the @india-leo community account and get a 100% curation reward share every day.
I'm not very happy about the way LEO is going. When it all started, the price of LEO was very good and pumping hard. But after the team started introducing so many new coins, the value of the old coins started diminishing. When CUB was introduced, that was when the price of LEO started going down. After that, the price has not recovered very well. The price of CUB has also dropped drastically.
The Leofinance team used to burn a lot of LEO tokens during the early days and that's how they attracted investors. They used the revenue from ads to burn LEO tokens. I don't know who told them that Burning is bad but they stopped doing it and nobody knows where that money goes and if that is even happening. I don't want to make this a post complaining a lot about LEO and its ecosystem but I still think there is hope for the community to revive back. It is definitely a great use case and we are still in the early stages of crypto. Hopefully, some great innovations should recover the price of all the Leo Finance-based tokens and be fruitful to the investors.
This month I'm still positive and motivated to invest in LEO by powering up LEO and holding them tight. But my thoughts might change next month and let's see how it goes.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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Posted Using LeoFinance Beta
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Congrats on powering up. Surely you’ll reach your goal soon.
Interesting information on the burning of Leo and how they’ve stopped, didn’t know that.
Hopefully as you’ve said, they’ll be other innovations to recover the worth of the tokens.
Posted Using LeoFinance Beta
Happy LPUD, my friend! Nice numbers! 💪 !LOLZ
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Awesome... It was My First LPUD tho had always Got inspiration from you guys and made it possible.
Congrats on your LPUD and Have a Great Week Ahead.
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Let just be positive and be motivated
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STOPCheck out the last post from @hivebuzz:
LEO isn't just about the price but the community and I are kind of against burning tokens. Sure it may help price but I feel that the focus should be more on trying to provide utility. It's still actively developing during the bear market.
Posted Using LeoFinance Beta
No project will succeed without a proper sink for the supply. Use cases can help but without sink it won't survive long term. Why do you think the price is dropping even though the user base is increasing and utility is increasing. What happened to the CUB price? I bought them for 4$.
I know CUB price dropped a lot but I agree with the sink. However, I don't think burning the tokens is the best choice. LeoFinance is thinking about a ad revenue system where they share the LEO back to the users who stake and I think that is better.
Posted Using LeoFinance Beta
How do you think that is better. Imagine if people dump all the leo tokens given to them from the ad revenue, do you think the price will go up?
It would come staked and I don't think most people would sell it. Even if they did, they would have to power down and overtime, earning less of the staked portion over time. So I think it would just be a selloff at the start but it won't affect prices as much.
Posted Using LeoFinance Beta