Burning of LEN tokens resumed
This week in the Liotes news:
- Ourpick activity resumed (Zoltan is back from Holidays)
- A new curator for Ourpick in the Liotes Team
- We have resumed to burn LEN tokens
- Many new users in the Liotes community
A project run by @ph1102 and @achim03
Liotes Power Challenge Update
Today, the @liotes.one account owns 58 Hive Power and there are 3.79 LEN tokens in the pot!
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Weclome back Zoltan from your Holiday, hope you had a wonderful and relaxing time. Great to hear the burning of LEN tokens has resumed. the project is moving along nicely, specific thanks to you guys and keep up the great work.
It was a nice vacation discovering some new places in Spain and Portugal! Thanks for being part of our Liotes family!
Congrats to Steve (@mypathtofire) for the new position as a curator for Our Pick! Curating is not an easy job, so I'm sure Zoltan is happy to have someone helping him with that part.
Thank you @gadrian. Its a tough job but I'm happy to help out. !CTP
You are right... Curating isn't an easy job and having one person more on the team is a huge plus! When our Liotes.voter grows more, I hope that we will onboard more people...
Thanks for the updates. Burning is important for long term token sustainability.
We try to burn as much as possible simply to keep growing :-)
Thanks for the great update. Good to help out the picks. Great work towards the token burning.
Great to have you on the team :-)
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Thanks for the tokens :-)
Thanks for the update and it's nice to see the project grow. An extra curator is always good. Is the plan to bring LEN deflationary at some point or will you just stop at the 1k LEN burned mark and re-invest the rest elsewhere?
Posted Using LeoFinance Beta
In order for the project to work well, we will probably not turn deflationary. The next step would be to rise the price of LEN.
So if you get to a point where LEN burns all of the inflation for the week, the extra will be set aside to buy a buy wall for LEN?
Posted Using LeoFinance Beta
The idea is that we will constantly have more and more funds to burn tokens. So first step is to burn 100% of supply of LEN. The next step would be to do the same for LEN at a slightly higher price. Once we reach that, LEN prices would be pushed even more up. So in the long run, the APR for LENM holders should increase thanks to higher LEN prices.
Hope Zoltan is refreshed after that break. I'm glad to see the preparation/progress being made for the upcoming year. Here's to a better 2023 ahead for us all. 🎉
I believe 2023 can only be better :-)
Yes, I am! It was a nice vacation, but now, it's time to get back to work!
2023 will be a great year!!
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Congrats on the new role! @mypathtofire
Thanks for the update!