Growing Staked $LEO - LeoFinance DAO Funding is a Possibility
Do you know that $LEO$0.061 token is deflationary?
A peak into the latest Leo stats published a day ago by @Dalz, it is interesting to see that out of a total of 14.8M circulating supply of the $LEO$0.061 token, 67% of it is staked. That is about 11.9M $LEO$0.061 tokens.
Comparing the stats with that of February ending shows that about 700k LEO tokens has been issued in March 2023. Interestingly, more than that amount of LEO has been staked (800k) as at 26th March.
March is not over yet, but there is a significant increase in the amount of staked LEO. Up to 800k for now.
The above would infer that more then the LEO tokens issued weekly and monthly is staked and it won't be wrong to state the LEO token is deflationary. This signals a sustainably greeny future for the token and its investors.
LEO Staking Curve is on the Rise
The report of the March edition of Leo Power Up Day (LPUD) shows that the staking of LEO on the 15th day of the month is gradually growing in user participation and in value. I am personally increasing the amount of LEO staked each LPUD day and I'll hopefully surpass my goals for the year.
Every Hive user is excited about the growth within the LeoFinance and this is evidence in the growing patronage of LeoThreads. Giving internet users access to a truly decentralized microblogging with a highly rated polling feature makes LeoFinance the pride of Hive.
More users in LeoFinance means more Leo Ads revenue and that is proportional to LEO buybacks in the market to increase the staking APY for investors and/or steadily increasing the price of the LEO token.
Those staking LEO token are preparing for the future of the utility token powering several web3 possibilities - microblogging, long form blogging, ads, NFTs, ecommerce, gaming and more. @taskmaster4450le is not wrong to call LEO an access token.
LeoFinance DAO Funding is a Possibility
The new infrastructure adopted in the building of the LeoFinance app from ground up is such that allows for flexibility and scalability and we are looking forward to more usecases to be added to the LeoFinance dapp.
Taskmaster advocated for $LEO$0.061-Based Lending where $LEO$0.061 can be used as a collateral. According to TM, the community can put their $LEO$0.061 to work in another way, if that is desired. This, if adopted would make LeoFinance live out as a a financial platform.
Already, staking LEO helps a Hive user to decide on the LEO rewards another user gets in microblogs or long form contents.
Looking deeper, staked LEO can also give stakers access to DAO funding. Splinterlands community has shown the possibility of a layer 2 DAO powered by the community and it's already attracting more investors to buying the Splinterlands governance token - SPS.
Incorporating LEO into the decision making process of the LeoFinance community would be another big step to further the adoption of the $LEO$0.061 token
As LeoFinance continues to expand, there may be the need to allow for users to build on its infrastructure and/or utilize the LEO token to power projects such as payment systems and other financial services related projects.
Are you Staking $LEO$0.061?
Beyond the few points raised above, the LEO token would serve more uses in the near future and would become a very scarce crypto as its demand grows. The monthly LEO stake may double in the coming month once the LeoAds revenue goes live in the new UI. Investors who see the future would definitely go for more LEO. This would be to enable them draw more from the pool of LEO staking rewards to be added to LEO Power holders.
At 4 Cents, LEO is discounted and should be rushed. We'll be having the 2020/21 experience again in 2023/24 with the LEO token and those who are buying and staking this utility token would be happy they did at this insignificant rates.
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What is LeoFinance?
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Hive: https://leofinance.io/@uyobong Twitter: https://twitter.com/Uyobong3 Discord: uyobong#5966
Posted Using LeoFinance Beta