Burning Leo tokens is something great for the leofinance platform, and the truth is that it's advantageous to everyone. When I say everyone, I am talking about every stakeholder on the platform.
Stakeholders includes;
- Writers
- Moderators
- Developers
- Leo tokens holders
- Small Leo stakes
- Large Leo stakes
The end product of burning tokens is to reduce the total supply of that token. With tokens being burnt, it will make it more scarce, making it even more valuable.
For now, I am aware of just two methods in which one could efficiently burn Leo tokens.
The first method is through post promotion.
In order to promote your posts on the leofinance platform, you have to part away with some quantity of Leo tokens.
I don't know the maximum or minimum amount of Leo, which could be used to promote a post. What I know is that regardless of the number of tokens used, all will be burnt.
That's a pretty great way to help burn tokens while also getting well-deserved publicity on your well-written posts.
The other method is through given Leo a boost
That sounds odd right, well I chopped off from the title of one of @onealfa.leo written post. The article had nothing to do with Leofinance's memo or what it stands for, but its impact will enrich everyone on the forum.
The post was just created to help burn some Leo tokens. How does this work?
Well, all rewards on the posts will be burned. Simple as ABC.
I hope @onealfa.leo does this weekly as it's the platform will extensively enjoy from this
well, these are the two methods I know; you could drop more forms in the comment section.
Already utilized both methods, now it's your time to do the same. Also, drop your upvote on the post link below as all reward will be burnt
@onealfa.leo/give-leo-a-small-boost
Just give that @onealfa.leo post an upvote and you have played a part in making Leo more valuable.