The 15th of every month is called Leo Power up day. This is when people power up their LEO tokens to support the Leofinance community. I have also been a supporter from the beginning and have been participating in almost all the initiatives by the community. This is the 4th month we are doing the Leo Power Up. I would continue doing this for another few months until I reach 10k LEO power. After that, I have to think about what I should be doing next.
For now, I'm participating in Leo Power Up day and I have powered up a little over 200 LEO tokens. I did not buy anything from the market but instead, I was accumulating whatever I got as rewards from posting. Last month I missed posting on the Leofinance community and switched to other communities. Now I have been continuously posting to the Leofinance community and that is yielding some Leo tokens for me to power up.
I now have a total of 255 LEO tokens to power up and delegate to @india-leo. The reason why I delegate to @india-leo is that the community account is doing manual curation with the help of some curators and in addition to that the community also supports some good authors. 100% of the rewards go back to the delegators. Anyone with decent Leo Power who doesn't have time to curate can make use of this opportunity and delegate their Leo tokens to the community for 100% share.
There is a weekly post from the community account that says how much Leo the delegators are getting. In addition to that, the liquid rewards the account @india-leo gets from people who vote the comments are also distributed to the delegators. I'm guessing it is a fair deal to increase our curation rewards and also to support the manual curation efforts by the community.
Even though the Leofinance team is working hard to bring value to the token, the process is still very slow. We used to have revenue from the ads that used to burn LEO tokens. It was an attractive thing. I don't know why they stopped doing that. It was one great move to bring external money inside the Hive ecosystem. In one of the posts, I even read that they are not willing to bring it back again. It has been years since it stopped. I'm even wondering where those revenues are going. But having multiple sinks is very important to increase the value of the token. Otherwise, I think the value of LEO would keep going down.
I hope the team would come up with some nice projects to increase the value of the token. As part of the @indiaunited community, we are also hosting a contest every Monday for the community to write an article on a finance topic. This happens every week. People who are interested to earn some decent LEO rewards can participate in the contest and get a chance to win. The post will also be curated by the community account even if you are not selected. So participation is the key.
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
