LBI earnings and holding REPORT - #20
Welcome to this weeks LBI token earnings and holding post
What is LBI? The LeoBacked Investment (LBI) token is the first of its kind, the 1st token to be valued completely in LEO. Each LBI token represents a percentage ownership in the overall fund including all LEO, HIVE, off-chain and wallets operated by @lbi-token. The goal is to provide a community based and ran investment vehicle focused primarily on the LeoFinance community and LEO token. We provide a weekly LEO dividend payment to all token holders whilst also increasing the value of the LBI token slowly but consistently over the long term by only investing into things that will stand the test of time.
LBI is a long term HODL token based on SPI's model. Because these tokens are backed and valued in their primary assets, the value only increases. Think of it as putting $1000 in the bank and earning interest. In theory, you should never have fewer dollars. The $1000 is the LEO you give us to buy your LBI token and the interest is the earnings we produce with that LEO.
Sorry for the late report folks, life got in the way and i was out of the house all of yesterday. I missed the deadline to issue dividends so you will receive double next week.
Earnings this weeks are down a little bit on last week for a few reasons. The earnings we pull in from CUBfinance are down over 50% this week due to it's price declining so this affects both farming earnings and CUBlife which is tired directly to CUB farms. Everything else has been ok, HIVE content is down a tiny bit but still our top earner.
1800 LEO for the week is ok, we can do better and i still consider 2000 to be our benchmark. We'll see what happen next week as the crypto market drops 20%.
I was finally able to unwrap our BLEO. Turns out some address/accounts work better witht he LEO wraping tool compared to others. For some reason, LBI's metamask wallet will ask for a 0.31 BNB fee but CUBlife's will ask for a normal fee so i unwrapped to cublife and transferred to lbi-token.
I will start a HIVE powerdown next week for 1300 HIVE to give us 100 HIVE per week. This 100 HIVE will be used mostly toward converting back to LEO. I think at this part of the market cycle if we are now in a bear market, i see HIVE declining more than LEO. LEO is already down a bunch, 90% from its all time high and HIVE is down around 65%. I guess the LEO/HIVE ratio will decrease ove rhte next 12-24 months so taking advance of that would be something to start on.
CUB holdings are way down on last week. No idea why but CUBs price has been destroyed the past week dropping more than 50%. I will be considering to move some of our BC/BNB kingdom (which is all profit) to another farm to spread our eggs and see if i can increase non-hive earnings. LBI earned just over $80 from harvests this week on $18,500 of holdings. This represents 22% which is ok but not great.
The LEO/BNB farm is now earning 23% which is decent but then, how long will this last? The idea to pull this farm and bring back out LEO to HIVE has been at theback of my mind. The 50,000 LEO we invested around a month back would now unwrap for 60,000 LEO because of IL and would increase curation rewards again. I'll watch the price of CUB for the next week and make a decision based on whats bets for us long term.
The LBI token price has remained stable dropping only 0.01 LEO in the past week. I consider this to be a win when we see what has been happening in the markets. We've had a good run with CUB farming but it's looking like the time to spread our wings and venture outside our comfort zone to other platforms.
The market is getting wrecked so we really have no choice other than to sit back and watch what happens. Still being in our growth stage means we our not really in a position to put preserving profits on the top of the list, we have to keep aggresvily aiming toward growth with the idea of the next bullrun in 3-4 years being the time for us to preserve profits from a bear market.
I notice the LBI price on Hive-engine is at a bargin price, could be a good chance to buy some at a discount.
Have a great weekend everyone, sorry for missing yesterday. We're down a days content earnings next week as well :'(
Thanks for checking out this weeks report.
Get LBI on LeoDex - https://leodex.io/market/LBI Get LBI on Hive-engine - https://hive-engine.com/?p=market&t=LBI
Posted Using LeoFinance Beta
