Early adopters get a few distinct advantages when it comes to cryptocurrency. On Steem, one of the biggest is the ability to earn outsized gains that diminish over time.
Over the last few months, I made it a priority to accumulate LEO tokens. I do this by staking everything that comes in. My rewards come from writing a number of articles each day while also curating my full allotment of voting power. This helps my curation returns which, over time, amounts to a nice return.
I also added a fair share of tokens by buying them. About a month ago, I converted fiat to STEEM with the intention of buying LEO. This really added to my stake.
In spite of this, I realized that the amount of my vote at 100% is declining. The last couple weeks saw a decrease in this area. Also, I am noticing the payouts on my posts starting to go down even though the number of votes remained fairly constant.
All of this is wonderful news.
The distribution system is starting to unfold in a way that is needs to. In spite of my aggressiveness with this token, the system is spreading faster than I an operate.
This should come as no surprise. Steemleo is getting a great deal of attention for the progress it is making on the development end. Each month we are seeing a significant update that adds features to the platform. At the same time, the staking rate is hovering around 90%. It is a move that tells me how optimistic those involved in this site are.
We also saw a concerted effort by the Steemleo team to get people to use the front end for posting. This was incentivized by an upvote from the voting account. According to the latest articles pertaining to these stats, the numbers are increasing each week with more accounts using the front end. This means more are receiving LEO from the voting account.
All of this adds up to more accounts holding LEO. In other words, the distribution is spreading out affecting the payouts on each individual post. As the total LEO staked is spread over a greater number of accounts, the impact of each individual account is diminished.
This is exactly how it should be and what a thriving ecosystem wants.
Steemleo started by having a number of dedicated people actively supporting the platform and accumulating LEO. This is how every system starts. Over time, those who are strong hands will maintain their position by hodling. It is a crucial stage. While there were some dumps of LEO, it was easily swallowed up by those who have the long-term view.
Here we see the foundation upon which the platform is built.
Once that is accomplished, others start to participate in the activity. This is what we are seeing with LEO. Those who are using the platform for posts are staking their tokens instead of unloading. It is a move that will separate this from many other projects.
I have a feeling we are going to see this same scenario play out over time. With the introduction of SMTs in a few months, we will see this played out with a number of projects that get started.
One of the keys is to get the token in more hands as time goes by. Steemleo appears to be accomplishing this. More accounts are participating and powering up. This is going to dilute the existing LEO holders which, ultimately, creates a stronger platform.
To me, this is just another indication that Steemleo and the team behind it knows exactly what they are doing. It is going to be exciting to watch the progress of this over the next 6 months.
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