Leofinance Building A Sustainable Economy

Over the next couple years, things are going to change a great deal around Hive. In my mind, this carries great implications for Leofinance.

There is little doubt this is one of the leading communities within the ecosystem. The development team is focused upon continually bringing out products that are going to fulfill the needs of users when they finally arrive here.

However, one thing that is going to be crucial is to build a sustainable economy. This is something that has been discussed, albeit piecemeal. For this reason, it is best to kick-off the topic in totality with an article.

How do we build a sustainable economy? This will be the most crucial question over the next 24 months or so.

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Cryptocurrency Evolution

The reality is we are still to the point where there are feeble attempts at constructing something sustainable. As we covered (extensively), too many projects simply monkey around with the tokenomics believing that is the solution. Sadly, this is not going to work in the long term.

What it takes is building. In this manner, basic business building attributes much be implemented. This is something that Leofinance appears to be doing.

The idea of making LEO the value capture token was spot on. While it was not phrased like that, it is essentially what Khal means when he talks about things being under the Leo umbrella. It all is designed to flow into the main token.

He also mentioned subscriptions. While the specific feature can be disputed, the idea of adding more layers to the platform cannot. Ultimately, this is going to be crucial for sustainability. We need revenue generating activities, ones that move us into the world of commerce.

On the last AMA a point was brought up about modeling the NFTs Addidas puts out. The concept is to have the "return" on the NFT come in the form of Leo clothing or merchadise. By having the NFT, one is able to partake in this.

Here is another idea: how about a Leo game. This could be done in a manner whereby people purchase the NFT and that gives them entry into the game.

Of course, as more stuff is developed, it can be tied to the NFTs. Think of this as an access token.

The point is we will have to work on generating sustainable commercial components that will become part of the Leo economy.

Layer 2 Is For Commerce

In my mind, the second layer is where we will see cryptocurrency commerce taking place. Trying to blend it all into the base layer is not sensible.

Leofinance can really get ahead of the curve by applying some game theory and discussions about the direction to take things. This can involve the main team or can come from groups within the community. That is the great thing about Web 3.0, no permission is required.

For the last few years, I harped on the idea of thinking of oneself as a business. This is a mindset I think everyone needs to carry on Hive. The reason for it is simply because we are dealing with monetized platforms. This turns them into economies.

If we are to break free from the slavery system, we have to construct commercial applications that take society in a different direction. This is not going to come from the top down.

What is the solution? I honestly do not believe there is one single answer. While everyone is looking for the Killer DApp, Leofinance can simply be a play of builders. This can take on many forms, collectively forming the foundation for what can become a powerful economy.

Taking the idea of a town, just think of the economic potential of 100K people. If that is what Leofinance can attract, it still will be very small (a nothing) in the online world. However, as an economy, that can be fairly robust, especially as a starting point.

Therefore, in closing, it is up to each of us to help build a sustainable economy. This is not going to rest on the backs of one or two people. It also is not going to happen is people are simply extracting from the system. Why reproduce that? If we want system extraction, we can keep doing business with the banks.

It is time to, once again, shift our thinking. Leofinance is ready to move to the next phase and it is time for people to step up.

What are you doing to make the economy of Leofinance sustainable?


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That is a great question 🙋 but I do not have an answer. I am showing up, interacting and transacting on chain. I think that is the value proposition I bring to the table to take part on this sustainable economy on Leo.finance. Does that count?

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Interacting is a great first step. That is something that is crucial. We need to get the numbers up and each person adding on a daily basis is vital.

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I agree. We need more users to interact with creating a network effect that will siphon in more users.

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That is what the vast majority seeks, a sustainable economy. In my country, Venezuela, inflation has consumed people's pockets, but the majority have taken refuge in their little income in cryptocurrency.

Growing up here in cryptocurrency has changed my economy, one of the ones that helped me a lot was Leofinance, due to bad things in life I had to shut down, but I know that I am joining this ship again, which I know will go afloat again , where the value of your coin will soon reach $1 per Leo.

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That is interesting. Would you really say most people in Venezuela use crypto? Do a lot of them use it instead fiat for basic things like groceries and paying bills? I'd be really interested to hear about that.

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Gasoline not yet, but if you win part of the product you can buy with cryptocurrency. yes food, basic expenses

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Interesting. You could write a post on the ways people use crypto in Venezuela. I think a lot of people on Leo Finance would be interested in this.

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Having a leo game will be a game-changer, lol. I can't believe that so many people are willing to sit, watch and wait for all this to unfold and not take advantage now while the iron is hot.

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Yeah I dont know what it would look like. I will have to give it some thought. It would be cool to fund it through HBD savings.

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I just show up each day and contribute but I do think that having a game wouldn't be that bad. However, I wonder if that would be sustainable because it needs some good features that make it standout from other games. Otherwise, it might just be another game in the haystack.

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I think we can approach it from two angles. One of the core components of an economy is the transacting of value from one party to another via product and/or services. The main team has built (and continue) to build a plethora of product/services that are generating a decent revenue. As more people join the ecosystem, more revenue will be generated from these.

The other angle is we building on top of these tools (i.e the main products/services) to transact within the Leo ecosystem and beyond (Hive in general). The upcoming author monetization tools with definitely help in this regard but a case in point is Hive Stats. It's a handy tool that many users utilize. We could upgrade it to add more cool and advanced features then charge a fee to use the upgraded features.

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Step up as how ,interacting,believing in every project,I never doubt all that ,is their any other way to step up

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