My Thoughts on LEO Roundtable #17.

in LeoFinance •  5 months ago  (edited)

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ETH transaction fees, i believe, definitely will become a problem. This is one of the downfalls of a POW blockchain. As transactions increase, simple economics will establish that the fees will go up too as the miners are doing more work. This will reduce the number of people using the network thus reducing the value and therefore price. Are we ready for the masses?

Some questions for @khaleelkazi
Could someone explain the vote multiplier function on LEO? Swap.app allows us to sell our LEO for ETH and BTC. Who is buying the LEO for ETH and BTC though? Could we delegate out LEO to a @tipu equivalent on LEO? What is the 'token benefactor' payout on my LEO posts?

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Hey, good questions:

  1. @jk6276 made a great post explaining how vote multipliers work: https://leofinance.io/hive-167922/@jk6276/tribe-vote-multiplier-tool-now-on-leo-dex
  2. Swap.app instantly swaps LEO into HIVE or vice versa. Recently, selling LEO into BTC/ETH was also added and buying LEO with BTC/ETH will be added shortly. When you swap, it's actually instantly selling the LEO on the https://leodex.io, taking the swap.hive and sending it to Binance and then buying BTC/ETH and then sending it to your wallet. The same process happens in reverse when someone buys LEO with BTC/ETH -- send BTC/ETH to Binance, bot buys HIVE and then sends HIVE to LeoDex and buys LEO off the market
  3. There are currently no official marketplaces for LEO delegations, although I have heard of several Peer-to-Peer deals being made. Our discord (accessible via https://leofinance.io/discord) is probably the best place to ask around for a P2P leasing agreement
  4. Token benefactor occurs when your post is made from any interface that isn't https://leofinance.io. It affects only your LEO rewards (not HIVE) and takes a 10% tax which is burned periodically by the @leoburn account (all tokens received as benefactor tax on non-native content is burned to @null). This is an incentive for users to use our interface when posting content to the LeoFinance community - read more about it at: https://leofinance.io/hive-167922/@steem.leo/native-leofinance-content-now-earns-10-more-leo-a-few-interface-updates

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Thanks! More than happy to share my 2 cents and improve LEO to be as good as it can be! Just quickly, are there any ways I can support the project without buying the token? Any who, that article was really handy. Wow that swap.app function is really neat. Do you need to link a Binance account with it? Oh okay, I do think a @tipu equivalent but for LEO would be a really neat touch. Makes income from curation a lot easier and maybe more beneficial for all involved too! Thanks for the upvotes too, it's really encouraging. Trying to get that LEO bag up!

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Happy to help and appreciate the feedback.

Delegating to @leo.voter is a great way to support. You can delegate Hive Power to @leo.voter and you'll earn daily LEO token payouts at a 16% APR paid out from the @leo.bounties account every 24 hours.

We use @leo.voter to manually curate content in the LeoFinance community/from our interface with HIVE upvotes. This allows our authors to have more motivation to continually stay active in our community for both LEO rewards and HIVE rewards.

Outside of that:

  1. Creating content from our interface
  2. Sharing content from our interface
  3. Reading content from our interface (with adblockers/brave shields down) helps ad revenue which we use to burn LEO off the open market
  4. Stake LEO
  5. Curate high quality LEO content
    ..

Lots of ways :)

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Sure! I'll look into all of those! Trying to get my LEO Power up!

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