LBI issuing price increase - 1 LBI = 1.20 LEO
Hello, LBI'ers. LeoFinance has been good to us for the past few months, CUB has been a blessing to us and it's time to change the issuing price of LBI tokens as we cant keep issuing them at a discount. LBI tokens have been priced at 1.10 LEO for the past 2 months and it's time to increase that.
I am aware there is currently a vote going on that will decide if LBI tokens are to be hard-capped are not but even if YES wins and the token is hard-capped, this will not happen overnight and we set a date to the hard cap, be it 3-6 weeks after the actual vote.
Today's LBI tokens price
Total LBI token issued - 220,347.37
All holdings - 249,558 LEO
Each LBI token - 1.132 LEO
New LBI token price 1.20 LEO
We could go to 1.15 LEO but I feel it would be weeks before the real token value surpassed 1.15 LEO and we'd need to increase it again. By setting the price to 1.20, we can be sure it will remain there for at least 6+ weeks. I found from past experience, changing the price of something too often is confusing and harder to track for some people.
Things to clear up
Is LBI a dividend/income token?
No, LBI is a growth token, you HODL it and the price goes up. I have seen in many comments that some people are concerned about dividends and also why CUB earnings are not included they claim that they are losing money from curation etc, airdrops, etc.
While let's have a look at that and see what your missing out on
- Person A bought 1000 LBI on launch day for 1000 LEO and forgets about it (HODL's it)
- Person B staked 1000 LEO on LeoFinance on the same day
- Person B used their VP perfectly to curate every day for the past 4 months
- Person B received 4.8 CUB 23 days ago
- Person B staked their CUB and compounded it every day
- Person A checks the weekly LBI report and see's their 1000 LEO investment is now worth 1,132 LEO
- Person B makes 4 months worth of LEO curating worth 54 LEO
- Person B now holds 5.76 CUB based on 300% @23days w/nofees worth 25.17 LEO
- Person B has LEO and CUB worth 1079 LEO
Looks like Person B did a lot more work for 40% less of a return. Kinda funny that people think they are losing out by holding LBI tokens and complaining about it instead of crushing a few numbers.
Person A did nothing and their 1000 LEO earned 40% more
Im not mad, im used to people attacking and saying things before actually learning what they are talking about. Im aware most people dont track things as well as I do so it's water off ducks back to me by now. They fail to think that all the earnings from the @lbi-token account and CUB holdings go into the LBI token price growth. LBI is a backed token, which means it needs assets to increase its value. If you have bought LBI thinking they are dividend/income tokens, you have got your wires crossed somewhere.
Why will CUB earnings not included in dividends?
To put it simply, If we gave away all the earnings we made, growth would be impossible because we would be giving away all our income. No off-platform investment will be included in dividend payments ever because we need those to produce growth.
The LBI token is up 13% in 4 months. If anyone can show me how to I can make 39% ROI with staked LEO, please share your secret, I'll pay you 5000 LEO (no shit). When dividends start, they will be 50% of LEO earnings as stated over 4 months ago in the terms and conditions post that was released before token went on sale. I hate this acronym but really, DYOR. So important.
That's all for today
So there you have it the price of the LBI token has increased to 1.20 LEO, give it a little time and 1.20 LEO will be a memory as we continue to build, compound and grow our wallets.
Thank you for taking the time to read this post today
Posted Using LeoFinance Beta