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LOLZ - one of my fav Hive Layer 2 Coins

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Hoosie
@hoosie
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I'd been thinking about posting about LOLZ, and in the saturday savers club this week (link here), the following question was proposed 'What is your favourite Hive-engine token and why?' - so perfect timing really !

When I first started picking up on the LOLZ coin, I saw it as a tipping coin really, and a pretty good one at that. You only need 16 LOLZ to be able to start tipping with it - and that allows you to do one a day. And it tips one whole LOLZ - which is pretty good, with one LOLZ weighing in at around 0.045 HIVE.

I'd not been on the blockchain for long when I first noticed it, and when I first started, 1 LOLZ, was a nice tip to get !

And when you get a LOLZ tip, @lolzbot also gives you a joke - some of them are nearly funny !

TIPPING

These days I can tip 8 per day - and I really like being able to tip content that means something to me. The lolztoken.com website gives all of the info needed about the coin, and states the tip tiers as:

  • Hold 16 to tip 1 per day
  • Hold 64 to tip 2 per day
  • Hold 128 to tip 4 per day
  • Hold 256 to tip 6 per day
  • Hold 512 to tip 8 per day
  • Hold 1024 to tip 10 per day

I give out most of mine each day, and I usually find that I got 2 to 3 tipped back per day, which makes for a nice little income.

So the tipping side of things is all quite nice.

Next up is LOLZ farming

You can delegate some layer 2 tokens to Lolz including BEATCZ, BEE, CENT, CINE, DUNK, MEME, NEOAG, ONEUP, PIMP, SME, SPORTS, THGAMIN, WAIV and WEED. There are more, but I've listed the ones I delegate to. The full details can be found in one of their daily dividends report (Heres the one for today).

Delegating these tokens is called LOLZ farming. LOLZ will pay you back in LOLZ at the rate of 110% of the income they gain from those tokens, which is pretty nice. And that gets paid daily. At the moment I get 0.766 LOLZ per day for this.

LOLZ Dividends

And this is where things really get interesting. If you hold 512+ LOLZ, you then get a share of their daily dividends. They collect all of the tokens given out from the farming tokens (curation earnings) and pay that back out to holders of 512 or more LOLZ on a pro-rata basis. And you get something daily. For example, todays payouts were WAIV, NEOXAG and BEE.

I really like the synergy in this. And when those are paid out to me, I in turn stake them back to LOLZ. So each week my LOLZ count increases, along with the total amount of those tokens I have. Its all small gains at the moment, but its all nice and easy passive income. And wouldnt know what to have done with some of those tokens anyway, so atleast by delegating to LOLZ, I'm putting them to work.

LOLZ Price

Below is a pic of the LOLZ price taken at the time of posting (18/07/22 20:42 UTC - credit Hive Engine)

In terms of price, the token has remained fairly stable over the last so many months. Yes there are a few ups and down, but its pretty even.

So I'm happy with that, and I'll be holding long term anyway.

In Summary - its a great wee token:

  • I love the tipping feature,
  • I do like seeing the jokes !,
  • I like delegating misc layer 2 tokens to get paid more in LOLZ,
  • And the dividends aspect is a nice little passive income.

Weekly I gain anywhere from around 25 to 35 tokens, purely from tipping and layer 2 delegation - which is worth around 1.125 to 1.575 HIVE per week at current prices. And as said, with the dividends I'm also getting gains in those misc layer 2 tokens, but I dont know how much that would add up to (too lazy to do the mathematics !).

You can also delegate HP to LOLZ which again will pay you in LOLZ daily - a great way of building up your LOLZ holding, especially if you are reaching towards the 512 value.

So I cant fault it really. I'll continue to accumulate and add more. As of today I have 811 LOLZ, and I'm looking forward to hitting 1024 to increase my tips to 10 per day. But I'll probably also be upping my holding at some point anyway, as I'd like a bigger pro-rata chunk of the daily dividends.

Anyway, I hope that was useful - all the best with whatever you decide to do - make your own decision !

Posted Using LeoFinance Beta