The 15th of every month is a special day that is set out for members of the Leo community to stake leo. Don't get me wrong, every other day is also a great day to stake leo but LPUD is an actual event.
LPUD stands for Leo Power Up Day and it is a monthly event that is set out to encourage Leo community members to stake Leo. Technically speaking, everybody on Hive is a Leo community member since Leofinance is the niche crypto community within Hive that is the broader crypto community.
It is fair to say that everyone on Hive has vested interest in one crypto or the other. EVen if your interest mostly lies in sharing content that isn't about crypto, the very fact that you're sharing it on Hive and earning crypto makes you a Leo.
Anyway, if you're on Hive community and have Leo tokens in your wallet, then you are automatically eligible to participate in LPUD. All you have to do is stake that Leo and bob's your uncle.
Benefits of staking Leo
LPUD is all about powering up that Leo in your wallet and while LPUD offers some rewards that will be discussed later on, I figured I'd also mention the benefits of staking Leo.
As a part of the Hive ecosystem, Leo token is printed in pretty much the same mechanism as Hive. The inflation in the token is mostly from content sharing and tLeo miners.
As a Leo holder, staking Leo mitigates the effect of the dilution on the value of your Leo holding. So, basically, staking Leo is good for the market value of Leo since it depletes the supply of sellable Leo in the market.
Once again, as a part of Hive ecosystem, Leo token also plays its part in curation activities on the Leofinance platform. As most people already know, the more Leo you stake, the more value you give out and receive for simply liking other people's publications on the front-end.
Your curation activities with Leo tokens therefore play a major role in determining where Leo tokens go to. So, technically, one could actually say that staking Leo is also a security feature of sorts, because you will not allow Leo tokens enter the wallet of someone with malicious intent.
I've already mentioned that staking and curating with Leo is a nice way to earn passively through your stake, there's also another financial benefit that will be introduced in a future upgrade. During the AMA yesterday, Khal mentioned that people who power up Leo will also have additional earning from ad revenue.
In his description, he said that the ad revenue will be used to buy Leo and then autonomously added to the current Leo stake of every member. So, basically, the more Leo you stake, the more ad revenue you will receive in form of Leo power.
Keep in mind that it will be very competitive, so this adds further importance to the monthly Leo Power Up Day event.
Why should I participate in LPUD?
If all the benefits of staking Leo doesn't have you sold on the idea of participating in Leo Power Up Day, then how about I remind you of all the awesome rewards that you stand to benefit from staking just 200 Leo tokens.
The total reward pool for the LPUD event will exceed 85K worth of Leo power delegation. Can you imagine what this could do for your portfolio? To learn more about the delegation rewards, you can simply just this announcement by @leogrowth.
In any case, here are the rules for participating in LPUDsource;
- Your total Leo Power (on the 15th) must be more than 200 and less than 20k
- You must power up at least 200 Leo on July 15.
- You must not have powered down Leo since June 15.
- Make a post about Leo Power Up Day, why are you powering up, why is it good for the platform, and talk about anything else you want to in the post! Remember to use the tag #lpud. Then Tweet about this linking to your post using the tags #hive #leofinance, #cryptocurrency and #lpud.
The rewards for participating include;
- Two tickets to Hive fest
- 20k Leo power delegation for three people
- 5k from @edicted
- 4.5k from @leomarkettalk & @taskmaster4450
- 3k from @lbi-token
- 3k from @investing-dude
- 3k from @anomadsoul & @leogrowth
- 2k from @steemstreems & @whatsup
- 2.5K from @roleerob
- 2k from @whatsup & @scaredycatguide
I encourage everyone to stake Leo and if you are eligible to participate, in two days time, stake upwards of 200 Leo tokens. At the time of writing, Leo trades at $0.056, so 200 Leo is about $11. If you win any of the prizes, you could easily make that money back through curation.
I'm looking forward to LPUd and I'll definitely be participating. I hope you'll join me as well.
Posted Using LeoFinance Beta
