What happens to Liotes author rewards?
There was a question that came up many times recently. People were wondering what was happening with the author rewards that were generated through the Liotes posts.
We have postponed answering this question because we were working on a kind of financial machine. We believe that we have found a great way to use these author rewards...
When you upvote Liotes posts you burn LEN tokens!
The thing that we have built is quite complex but the amazing thing is that you can actively contribute to the token economy thanks to it.
Whenever you upvote Liotes posts you will do a lot of things at once, you will increase the voting power of the @liotes.voter account and increase the upvotes given to the community. At the same time you will grow the amount of LEN tokens that are burnt every day, thereby helping to increase the value of the LEN token!
If you want to understand the detail of how it works, you should watch the video ;-)