The LBI token is under new management. @silverstackeruk launched it as a spin off from the @spinvest project to focus on LEO and it has several years of history under his leadership. In recent times, it wasn't getting as much attention, with other projects and funds coming along and LBI has been quiet.
I (@jk6276) offered to take over the admin for LBI and relaunch it, with a goal to resume dividend payments and build the value of LBI tokens by bringing off chain funds back.
So far, since the keys got handed over to me, here is what I have done:
Sold the funds BTC back to HIVE
Sold the funds ETH back to HIVE
Begun the process with the LEO team to recover whatever value we can from the BHBD we had stuck.
Unwrapped 13K BLEO and staked it.
Set up @lbi-dab with 10K HIVE - bought 4800 RUG tokens
Set up @lbi-eds with 10K HIVE - bought 1110 EDSD and powered up the remaining HIVE , delegated to @eds-vote
Bumped our HBD savings wallet up over 5K
Added a few thousand HIVE power.
Set the autovoter to trail @taskmaster4450le's votes, including his extensive curation of threads.
Started slowly accumulating BXT
Commenced updating the LBI token value via a daily thread.
Signed up for LEO Premium.
Organised for @no-advice to move his popular Rune Guessing Game from the closing down @spinvest-leo account to @lbi-token
So that is Week one of the handover.
Here is how our assets look so far - tracking sheets are still a work in progress.
The total for the BHBD unwrap is a guess at this point of what we may recover. I have not heard back from the LEO team with details yet - but the process is underway and we can be patient with this one.
There is good news here and bad news. During the handover phase, an error was made and the funds BHIVE tokens were lost (accidentally sent to a contract address instead of the wallet address). The BHBD was valued at 0 in previous tracking, so the wallet isn't down in tracked value, so what we lose on the swings, we pick back up on the roundabout.
Overall I am delighted with the progress this week, and look forward to building the value of LBI tokens and fund over the years to come.
Some upcoming actions I need to make:
What to do with nearly 40K LBI tokens the fund holds?
Other investments to look at?
Tracking of income.
Re-engaging with the LEO community.
Getting back to regular content creation.
So that's it for now, I was keen to get a quick post out to update progress so far.
You can see the last update post from LBI was a few months ago now. These posts will return to being a weekly event.
I'd love to here your comments, feedback and suggestions in the comment section.
Cheers,
JK @jk6276
Posted Using InLeo Alpha
Sounds like things are moving. Those 40k tokens have me concerned about the value of my holding being diluted if they suddenly find their way somewhere. I hope that isn't the case.
Those are excluded from all calculations at this point. Options are to burn them, do a token swap for equivalent value, or sell them. I'll never dilute existing holders by giving them away below asset value.
If they get sold, they will be sold for a fair price that does not dilute anyone.
Okay thanks! My vote is burn them.
I think that will be a lot of peoples preferred option, and it's probably mine as well. I just don't think there is $5K worth of funds around that would absorb those tokens at the asset backed value.
Once things settle down I'll run a vote on what to do with them.
Probably not based on current performance. If things turn around though, there could be demand. One day maybe.
👍
I also see you stakes BXT instead of putting them in the liquidity pool - I like it.
You should ping them because it's their strategy - to postpone. It never happens in 13 weeks as they claim.
In general, welcome captain
5K HBD was a minimum goal, and I'll continue to build it up over time.
May build a BXT pool position, but staked is nice and easy for now.
I've only just got the ticket going, so I'll give them time. I know there are plenty of LBI holders (like yourself) that have had experiences in this area. But I come in and will work with the LEO team in good faith and see how we go.
Thanks for the welcome, looking for4ward to getting things moving again.
Wow, KeyChain hates you mate!! 🤣🤣 Good 1st day on the job, lol
Haha, someone market dumped using keychain swap and tanked the price. No matter, some lucky people that had buy orders in picked up some very cheap LBI.
The only price i'm looking at is 1LBI = 3.052 LEO which is the current ratio.
Thanks mate.