The Leo power-up Day: From The Perspective Of The Bear Market
It's the Leo Power-up day and one of the reasons why I think this is coming at the right time is because the bear market should be for building, apart from the fact that powering up in itself is an act of loyalty and solidarity in the future of a project.
The bear market has taken a huge beating and the pain it's currently inflicting is hitting in many different ways. I feel that this essentially makes it even more difficult to decide to power up. In a bear or bull market, it's difficult to decide to support a project by holding, contributing to governance, and using one's stake to influence the content of others.
for instance, people don't power up during bear market because they feel they'll need that liquidity to immediately get out when it gets too bad. In the bull market as well, people don't like powering up because they want to be able to have enough liquidity to sell in other to take advantage of the price in preparation for the bull.
In the current situation, we are, many people are looking at the beating, and making the decision to still power up takes share courage, determination and the will the build, even if there's an extrinsic or materialistic reason in the offing.
Let's take a look at it this way, powering up creates a sort of diversity for people. For example, instead of a person being known only as a content creator who is a recipient of the goodwill of people who are stakeholders, it would show more support and longevity to the intent of a person.
This is one of the reasons why the payout throughout the ecosystem of Hive is majorly 50/50. Although, Leofinance is different. The payout system is flexible, I guess the reason for this is to make it possible for people to decide whether they want to hold it and use it for curation or selling it.
While the leofinance project and community would be better off with the latter, allowing people the choice to do with their leo earnings as they deem fit seem to be the preferable choice.
For two years, I've seen Leofinance incentivizing users who are staking the token by giving them more tokens, these structural tactics were one of the reasons why Leo shot to $1 over 2 years ago and I was beginning to imagine when this would be done again.
The Leo power-up day, seem to tilt towards this. While there's a 20k delegation up for grabs, I think I'm that sort of guy that would naturally power up not because there's an incentive but because primarily, I aim to build, before thinking of incentives.
So In honor of the Leo power-up day, I decided to power up 100 Leo, because I feel that everyone should be obliged to do so for the greater good of the token, the project, and the community. This is something Khal should look to do, incentive more people who are truly supporting the project, this would take a lot of work, but it can be done.
Interested in some more of my works?
Crypto & The Outrageous Learning Curve: My Splinterlands Journey As A Case Study
Understanding & Adjusting To The Real Purpose Of Motivation
Thematic Expression: African Child (Shot & Edited On My iPhone 12)
How I Create Original Images for My Blog & Why This is Important
Budgeting: Paying Yourself First With Crypto
Establishing Compatibility: A Case For Self-Improvement
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It eventually pays off in the long run
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You touch on a very important view there, it is very difficult to be building during this time of massive market crash, some will need funds to put food on the table, while some will want to move funds to buy dips, several reasons that might prevent anyone from even thinking of powering up. At this time every little power up counts a great deal.
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It is never easy to power up during their bearish situations. This is because people will need money to actually around their lives. Unless, they're not dependent on Crypto. It is also difficult to do so when the market is off because she would want to have enough liquidity to sell and prepare. This is why I usually take people who power up highly. It's never easy
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Happy Leo power up day 🥳🎉🦁🦁
You are so right, every little bit helps, especially now in this market climate. Lots are struggling.
It doesn’t need an incentive to do so, as most of us are here to build for the long term 🤩
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Some people might need the incentive, for someone. like me, I'll gladly do so in other to support the project.
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I do understand 🤓😎
Have a lovely evening 👋🏻
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Happy LEO Power Up Day. It's too bad that it's only 100 LEO because I think 200 is the minimum to take part in the rewards.
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Yeah, I wasn't doing it for the reward, good luck to whoever wins it.
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