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Recent proposal made for LBI - What do you think?

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LeoBacked Investments - LBI
@lbi-token
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2 min read

Hello hello, today we look into an LBI proposal that was recently made. Normally when proposals are made, we wait until voting comes around every 6 months but in this case, time is a factor so im thinking we should vote on this sooner than later.

In a nutshell, the proposal is the allocate some funds over to the COSMOS blockchain and use them for investing in the OSMOSIS defi platform. The proposal came from @hykss and their post can be seen here

I kinda like the idea, it's something (s)he is already doing from their personal wallet so it's not that much extra work. (S)He has agreed to share the keys for access to the LBI wallet for auditing and has funded it with 15 OSMOSIS tokens ($80) to get us started. If you did not click the link above yet, please do.

Damn 150 words in and im done, kind of just writing this to promote the proposal some. Anyways, im sure the GOV team have seen it already and will get to getting a vote done within the next week. I'll have a look and see how much funds we will be able to free up in the meantime.

For those that are not aware. All LBI tokens holders with a balance of more than 10 LBI tokens are able to vote on LBI governance using a weighted voting system of 5 tiers that discourage whale manipulation.

  1. 10-99 LBIs will earn a vote equal to 1
  2. 100-499 LBIs will earn a vote equal to 2
  3. 500-2,499 LBIs will earn a vote equal to 3
  4. 2,500-9,999 LBIs will earn a vote equal to 4
  5. 10,000+ LBIs will earn a vote equal to 5

The voting post will be uploaded from the @lbi-gov account so please if you have not already, go and follow that account so you dont miss out on future LBI voting.

My Thoughts I like the idea, I dont know that much about the COSMOS blockchain, im aware of it but never used it myself. I'll convert some BNB and do something on it to see how it works but my thoughts are, could turn into a nice little earner that compounds down on itself. I'd like to see what the LBI tokens holders reading this think about the idea.

Oh and lastly, no LEO or HIVE would be powered down to fund this. Just thought I'd throw that out there as well. As always, feedback is welcome below. Thank you for reading today's post.

Here's a snap of the LBI COSMOS wallet from Hykss's post.

Posted Using LeoFinance Beta