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@leo.voter- A bid bot that is conducive to Steemleo, improves the token economics & increases the demand of LEO tokens

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@milaan
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The setting up of the new era of decentralization which is disruptive to the traditional centralized systems spells about an ecosystem where the business can be done in a trustless(devoid of the third party), secured & transparent way. The essence of blockchain technology redefines the way business is conducted. There are many use cases of blockchain technology. The realm of social blogging has also been redefined with the tokenized economy. Steem blockchain empowers users to socially engage and enable users to earn money for their effort and quality blogging in a dApp ecosystem.

The side-chains & the secondary economy are quite prevalent as of now and since 2017, the concept of side-chains, smart contracts, second layer economy mostly prevails in crypto & blockchain sphere. In Steem blockchain also we have side-chains & second layer economy which is slowly pacing itself and creating a lot of enthusiasm lately. With the existence of Steem-engine in Steem ecosystem, now it is possible to create tribes/tokens and different projects can be introduced and the secondary economy within the ecosystem can be developed. PAL, LEO are perfect examples of a secondary economy with their respective use-cases. But it is not just limited to PAL or LEO, now so many different tribes are picking up in this ecosystem with the help of Stem-engine. Now it looks more appealing and demanding.

This article is very specific to the newly introduced @leo.voter by Steemleo, which is a bid bot which accepts LEO bids but upvotes in STEEM. This article will go in details about how @leo.voter is conducive to Steemleo, how it improves LEO token utility, how it works, what are the benefits, how to delegate SP to @leo.voter, how to send LEO bids to earn STEEM POWER upvotes, etc.

Steemleo is introduced into the Steem ecosystem as an exclusive project to cater to the investing related topic and it encompasses a secondary economy within Steem ecosystem. It has a token popularly known as LEO. LEO is trading live in Steem-engine. Steemleo is very new and very specific to investing related content. It encourages the authors and curators to engage in investing related topic.

LEO token has various utilities and recently Steemleo introduces @leo.voter with an aim to facilitate users in Steem ecosystem the service of bid bot. But this bid bot is different than the traditional bid bots of Steem ecosystem.

Generally, the use-case of a bid bot is to boost a post to push its rank up in the trending page, so that the post will have larger visibility and better productive engagement from the community. So bid bots are generally the promotional tools using which authors can promote their post by buying upvotes. While this service is existent in the Steem ecosystem it has its downside as well.

Bid bots were largely criticised in past as it fails to check the choicest abusers & bad actors and at times shit content pushed up the trending page, some of the people intentionally abused this facility & tried as much as they could to exploit this concept and tried to use it as a tool of ROI. Moreover, many bad actors tried to promote poor contents, spam contents and plagiarized materials using this promotional tool.

Apart from that the some of the bid bots by their own design are with flaw as their design is to reap the rewards either directly or indirectly. So the ethical conduct of some of the bid bots is also a question mark. What a bid bot contribute to the ecosystem and with what objective it has put its service is also important.

@leo.voter accepts LEO bids, upvotes in STU(Steem Token Unit). It will help to push your article in Steem trending page. It does not have LEO Power, so it will not have any effect to push your article in Steemleo trending page.

@leo.voter as bid bot improves Steemleo for a couple of reasons. Some of them are:-

  • It brings a new utility to LEO tokens. It upvotes the post with SP, not LEO Power. So it helps to push the content to the Steem trending page, not Steemleo trending page. It accepts the bids in LEO. So it brings s a new utility to the LEO token.

  • It makes the supply/demand ratio in favour of LEO. As it burns a part of the LEO bids(own share) and distributes the rest of the share to its delegators, it takes out a part LEO tokens from the supply, therefore less supply & more demand for LEO tokens.

  • It helps users to earn LEO tokens by delegating SP. Anyone can simply delegate to @leo.voter and start earning daily rewards in LEO. Apart from that, it has a bounty going on. Those who delegate within the first 7 days of their latest announcement will receive 10% of their SP delegated as LEO tokens. Means they will get 0.1 LEO token per SP delegated.

  • Bidding window- 2.4 hours

  • Acceptable Bids- LEO

  • Upvotes- With STEEM POWER only

  • ROI- 0 to 20%(No negative ROI)

  • Profit Share to delegators- 100% (Whatever LEO bids received, are distributed to the delegators in proportion to their delegated SP, @leo.voter has also its own SP & @leo.voter burns its own share of LEO. @leo.voter earns curation reward from voting)

  • Min/Max Bid- 0.01/50 LEO

  • Min/Max Age- 0 mins/3.5 days

  • @leo.voter has its own SP of 19553 SP. The delegators have also delegated SP to @leo.voter. It accepts SP delegation from the Steem users in any amount.
  • It allows users to bid LEO for STEEM POWER upvotes for their Steem post.
  • The LEO bids received are distributed to SP delegators in proportion to their SP delegated. @leo.voter burns it sown share of LEO bids by sending it to @null.
  • @leo.voter earns curation reward.

Bounty

It has a bounty going on. Those SP holders who delegate SP to @leo.voter within 7 days of its announcement of @leo.voter bid bot will receive LEO tokens in an amount equal to 10% of their SP, means 0.1 LEO per 1 SP & this will be distributed over a span of 8 weeks in equal instalment.

For example, if you delegate 1000 SP to @leo.voter, then you will get 10% means 100 LEO tokens. This 100 LEO tokens you will receive in 8 equal instalments, means 12.5 LEO tokens every week for 8 consecutive weeks.

There are many tools available to delegate SP to @leo.voter. Some of the most common tools are - Steembottracker, Steempeak, Steemworld, etc and many others. I have used Steempeak to delegate to @leo.voter. I have delegated 500SP to @leo.voter. So you can follow these steps to delegate(using Steempeak) to @leo.voter.

  • Go to https://steempeak.com. Log in using your Steem account credentials. Then go to your wallet section.
  • In your wallet section, you can see your Steem Power, where "Delegate" option is also available. Click on "Delegate".
  • Then a pop-up will appear where you need to enter the "Delegatee" name which is leo.voter in this case and then enter the amount of SP you want to delegate.
  • Authorize this delegation either through Steemconnect or through Steem Keychain.

  • After posting your blog in Steem, you can proceed to send an LEO bid using any frontend such as Steemleo or Steempeak, etc or even you can use Steem-engine to send your LEO bid to @leo.voter.
  • Enter the bid amount of your choice(anything between 0.01 to 50 LEO) and in the "memo", simply paste the link of the Steem post. Make sure under "To" the username is @leo.voter.
  • Then click on "Send" and authorize it either via "Steemconnect" or "Steem Keychain".
  • You can head over to Steembottracker to check whether your bid is showing or not.
  • Once the bidding cycle completed, it will upvote your post.

  • It adds another utility to LEO tokens.

  • As it accepts LEO only and as it is a good bot with no negative ROI and good positive ROI(up to 20%), the bidders will be motivated to use this bot.

  • As it accepts LEO only, the bidders will buy LEO in Steem-engine for bidding LEO to use @leo.voter bid bot. That means it will otherwise generate some trading volume for LEO tokens in Steem-engine.

  • As it burns its share by sending its own proportions of LEO to @null, it effectively takes out some of LEO tokens out of the supply. That means it helps to adjust the supply/demand ratio which is favourable to LEO tokens demand. So that will ultimately help to boost the price of LEO tokens.

  • The SP delegators get an additional bounty, so those who delegate early(within 7 days) gets an additional bounty of LEO tokens @0.1 LEO per SP delegated.

  • It is a win-win situation for all entities as bidders earn STEEM POWER upvotes, SP delegators earn LEO tokens, @leo.voter earns curation reward, LEO tokens gets another utility and also more demand, Steemleo benefits as some LEO tokens are constantly removed from the supply.

Steem-engine is new to some of the users in Steem ecosystem so as Steemleo. The secondary economy in Steem ecosystem is really expanding at a faster rate. Steemleo is an example of secondary econmy which is dedicated to catering investing content. But apart from that, the token economics needs to be duly addressed. The token utility should serve a variety of use-case. The structure should be designed in a way so that the token's price benefit from it. In that regard, introducing @leo.voter as a bid bot to vote with STEEM POWER yet accepting bids in LEO is a well-thought idea to enhance the usability of LEO tokens. Nonetheless, it also creates demand for LEO tokens in terms of Supply/demand ratio as some amount of LEO tokens are constantly burned & taken out of supply on a daily basis. I can see @leo.voter adding value to Steemleo & effective to LEO token demand.

Disclaimer

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.

All the images & screenshots are taken from the official sites of Steem-engine & Steemleo.