LEO Power Up Day: Why You Should Power Up
Today is that wonderful day where we get to power up our Leo and show our commitment to our wonderful blockchain that rewards users with financial incentives for participation. As one of the most successful Proof-of-Brain Blockchains operating on Hive which has been successful for many many years let's run through why Leo stands out as a leading chain and why you should be powering up.
Powering Up
Powering up is the common term used for the process of staking your Leo tokens on the blockchain, doing so provides users a far great opportunity to earn than traditional blockchains with a single APY.
Leo tokens stake enable you to earn an APY and a Curation income through upvoting good content and rewarding users. This method has been uniquely developed by Hive Blockchain which was a pioneer in Proof-Of-Brain technology.
Staking and Curating may earn participants a 10% return on their initial investment with tokens being generated through inflation.
Isn't Inflation Bad?
The question surrounding inflation being good or bad is a matter of progress and growth. While inflation with a stagnant economy can be a bad thing overall Leo Finance has seen significant development and use cases for the Leo token which expands it's sole use as a curation token.
Providing the ability for economic use helps Leo tokens be used for other purposes and creates a market need. We can see extended use beyond Leo Finance blog with Cub Finance which enables Leo tokens paired and staked with other popular digital currencies and fees charged in Leo tokens are burned that reduce inflation providing a downward pressure for the token.
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Leo DEX
One of the first initiatives by the Leo Finance team that saw Leo token use cases increase was the development of a Decentralised Exchange which is powered by the Leo token.
The Leo DEX enables Hive users to trade all Hive tokens for a cheaper price than other DEX's currently available as well as enabling the deposit and withdraw of Hive. Utilising the exchange people will be charged a low fee paid in Leo tokens.
This use case further extends Leo's use cases and continues to lower inflation and provide more downward pressure on the Leo token itself.
Social Power
Over all many social media platforms have been monetizing their platforms in multiple different ways however, the monetization isn't offered to all users and data farming is a common practice that users experience where their information is shared with businesses to target specialised ads.
Leo Finance shares the wealth generated through ad revenue and investment with all participants on the chain and provides anyone the opportunity to increase their return and stake of those profits by either earning or purchasing more Leo tokens and powering up.
While other social media sites are moving towards subscriptions and other options for generating income, Leo Finance puts the power in the users hands.
As the chain continues to grow so will the token value and with an active leadership team continuing to develop and grow the blockchain with new features. Leo will likely be around for quite some time.
Today, I am staking 320 Leo tokens that I have earned through sharing breaking crypto news and participating in curating other users wonderful content and work.
How much are you powering up today?
image sources provided supplemented by Canva Pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.