It's been a bit of a rough time lately for LBI, but the time is right for a renewal. For those that don't know, LBI started life as LEO Backed Investments, a Hive Engine based investment fund focused on the LEO token. Initially, back before HIVE was even a thing, the previous manager @silverstackeruk sold LBI tokens with a mandate to buy a bunch of LEO and base a fund around that holding. In time, it diversified into other things, shifted with most of the community to HIVE when the fork happened, and was involved in many LEO things.

Old LBI gif.gif

As things progressed, SSUK, and many LBI holders became disillusioned with LEO, and the project stagnated. Amidst talk of winding it up, I offered to re-launch it and carry on under new management. Nearly 2 years ago now that happened, and we have actively worked to re-establish LBI as a diverse fund with the LEO ecosystem tokens as a significant portion of the fund.

In light of our (my) error of investing so heavily into Leostrategy tokens, the time has arrived to work out which direction LBI will go in. For a time I have toyed with the idea of splitting LBI into two separate funds, one with just the LEO assets, and one with everything else. Practically speaking that was not really an option, I barely have the time to keep one fund going, let alone running two. With a big divide between the broader HIVE community and LEO, we as the middle ground never really resonated with many new investors.

So, it's time to get off the fence, and work out what LBI will look like moving forward.

Introducing "Long-term Backed Investments" - LBI

Part of rebuilding for us means moving away from LEO. We need a new name. However, I have no interest in changing the ticker, as there are much too many complications for that, particularly around liquidity pools and such. So, "Long-term Backed Investments" was the best I could come up with. It's not elegant, but I do think that it pretty much encapsulates what we are about, while keeping the LBI ticker unchanged. It's not awesome, I know, but it'll have to do unless anyone has a better idea. (but not Lasse Backed Investments as someone suggested on discord. 🤣)

So what will change?

I'll be posting from Peakd from now on, for blog posts and Snaps.
This week will be the last LEO weekly dividend. From next week dividends will be paid as SWAP.HBD
As pools come up to have rewards renewed, future rewards contracts will have SWAP.HBD as the main reward.
The LEO pool will remain, and will continue to be incentivized.
LSTR and SURGE pairing with LBI will be abandoned (like what happened to the BRO/LBI pool). This has pretty much already happened.
I'll likely open a SWAP.HBD/LBI LP in a few weeks.

I've written off the value of our TGLD and TNVDA on our balance sheet to Zero. We could sell some and tank the price even further, but really what's the point. Those tokens will go to a passive holding wallet to collect dust. If Leostrategy does ever recover and restore some value to these tokens we will still hold them, and if there is value then we can move them back on to our balance sheet.

The other step I've taken is to start an unstake of our LEO. The @lbi-leo wallet will be shut down. I intend to hold our remaining LEO, and will shift it to the main wallet (@lbi-token). Most likely I'll delegate it out and it becomes a passive holding.

The HP in the @lbi-leo wallet will be powered down and moved into other investments.

I've decided to go with HBD as our base token for a couple of reasons. Using SWAP.HBD means a very small change only for @balaz, who runs our div bot. SWAP.HIVE would have worked just fine also, but I like the idea of being able to easily compare our income from week to week in a stable (ish) base token. The other thought is that lots of projects pay dividends in HIVE, and a HBD div would be different. SWAP.HBD is just one or two swap's away from whatever token you prefer anyway, so it is more of a symbolic choice than anything.

The future.

What the future holds for HIVE is anyone's guess. LBI will remain on HIVE and will always be on the look-out for new things to get involved in around HIVE and back new projects, if it is the right fit for us. Aside from our HP and HBD, we hold major positions in DUO, HSBIDAO, EDSI, DAB, CENT, THREE (the new game from @three.legacy) and of course our remaining LEO. It is highly likely that we will move some funds into MAGI at some point, likely providing liquidity there in time. Not rushing into that, want to see how it takes shape and works before jumping in. I've done too much jumping in and it often does not end well. Will wait and watch for a bit.

The bones of LBI are strong, as far as HIVE based projects can be. We currently have nearly 40,000 HP across our wallets. 1400 HBD. We are the biggest investor in DUO, We are the number 1 wallet in the DAB project tokens. We are big holders in the EDS project, and same for CENT. 4% of our fund is held as BTC and ETH (the swap versions of those on Hive Engine - in LP's). While we have lost significant value over the last week, down from $19,000 to $13,000, we have a solid base to rebuild from.

Want to end by thanking LBI holders for their support. A number of them advised against investing in the Leostrategy tokens, but stuck with me when I did it anyway. Those same holders are continuing to be supportive, and I am grateful for that.

These are my thoughts on the best way forward for LBI. I'm always open to feedback or suggestions, particularly from LBI token holders.

Would love to hear any thoughts or suggestions in the comments.

Cheers for now,

JK
@jk6276 for LBI.