Welcome to the official Leofinance public holiday. It is a day set aside to celebrate all the chads of Leo that are busy staking, curating and contributing to the growth of the community.
LPUD stands for Leo Power Up Day and for the unindoctrinated, it simply means that on this beautiful day, we will be celebrating the good people of the Hive community that are staking Leo into their account.
Put differently, LPUD is an event that promotes staking of Leo tokens into your Hive account. When this Leo token is staked, you will then be eligible to earn even more Leo from simply liking publications that are shared through the Leo Front-end.
On top of publications, the introduction of Leo Threads where you can share short content about any topic of your choice adds further benefit to staking Leo. Thanks to threads, there are now quite a lot of people sharing on Leo and this gives you more ways to curate and earn from liking publications.
How to LPUD
As I mentioned earlier, LPUD is a day set out to power up Leo, so all you have to do is stake Leo tokens to participate. Leo tokens can be gotten from a number of Dexes around the crypto world but participating in LPUD requires that you move your Leo into Hive and stake it on hive.
On Hive, "powering up" basically means staking, so that's the concept behind the LPUD title. Also, there are usually some rewards that lucky participants with less than 20K leo power stand to benefit.
One of which is a grand prize of around 20K Leo Power being delegated to you for curating. With that kind of power, you will be able to grind out a decent chunk of Leo from simply liking publications.
To be eligible for the grand prize, you need to stake at least 200 Leo tokens into your Hive account. After that, I think you also need to make an LPUD publication like this one to be eligible.
Something Bullish
I'm really excited about Leo's potential in the coming weeks/months. As the crypto market starts to tend in the bullish direction, I have a feeling that leo will experience a major boost in value.
At the time of writing, Leo has been holding on to the 9 cents range as Hive and the wider crypto market experience minor pumps. Activities like LPUD going on in the background will only serve to boost the market value of Leo as the amount of Leo supply reduces and this could potentially reduce the selling pressure in the process.
In any case, I encourage everyone in the Hive community to stake some Leo today and every other day. Other than potentially benefitting from the LPUD prizes, you are also maximising your Leo Threads experience and investing in a token with a lot of potential.