LBI-Token Voting Distribution Proposal

LeoFinance
3 Min Read
607 Words

Hi All,
After looking at the @lbi-token vote distribution and the request for proposals, I'd like to make the following proposal to the LBI community....

(1)

LBI-Token Voting Distribution Proposal

(2)

I propose that votes from the @lbi-token account should be distributed to LBI token holders in the first instance.

(3)

The stake that the @lbi-token account holds is significant, particularly in LEO. This stake has been possible as investors have sunk significant amounts of LEO to purchase and hold LBI tokens and, apart from a small uptick in price so far, there have been no returns. The @lbi-token account holds over 230,000 LEO which generates a large vote in LEO (in addition to the increasing HIVE holdings).

I am proposing that the team implements a voting system that rewards LBI token holders with a daily vote proportional to their LBI holdings (minimum 10 LBI tokens). This would require an automated voting setup that would have to be updated. The alterations to the voting setup could be weekly or fortnightly (or other as determined by curation team) and follow other systems used to facilitate upvotes.

Authors would have to adhere to the following guidelines (as determined by a curation team) to ensure that content on LeoFinance is not diminished:

  • No plagiarised content
  • No spam
  • No irrelevant LeoFinance content
    (Explicit guidelines to be determined and published by the Content Curation Team)
    If content from a LBI token holder continues to breach the set guidelines then the curation team would issue three warnings before a removal of votes for a set period (1 month) would be implemented (specifics also determined by curation team).

Vote strength would need to be monitored (as is currently done) and any leftover vote % would be distributed to other content as is currently done.

A minimum of 10 LBI tokens would be needed to receive a proportional vote to remove the need for setting up tiny votes for very small holdings. This may need to be looked at again depending on the distribution of token holdings.

(4) - Impact for LBI

Returns of LEO (and HIVE) will be placed straight back into LBI holders pockets, incentivising the token to be purchased and therefore driving the price higher. Curation returns for the @lbi-token account won't be affected and would reduce time needed for curation that is currently done. Token holders who do not produce content won't receive this return on investment but are able to access this method if they wish.

(5) - Who will run this proposal

The formation of a content curation team (including current curators) would be required. This would be done through a nomination and voting process through the @lbi-gov team. Roles and responsibilities would be determined through consultation with the gov and admin team before nominations are asked for.

(6) - Recap

  • LBI-Token Account Voting Proposal
  • Votes distributed to LBI token holders proportionate to tokens held
  • Content curation team created to run proposal
  • Returns through content creation returned to token holders

Thank you for reading through my proposal. I hope that this proposal makes sense and you can see how I am trying to return additional benefits to token holders. For full disclosure, I hold less than 100 LBI tokens currently so the benefit of such a proposal would provide little benefit to me personally unless I increased my LBI stake.

I am passionate that this proposal could bring significant benefits to token holders through returns on votes received, as well as an increase in token price overall.

Thanks for reading.

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