A Bit on Burning LEN Tokens

in The CTP Swarm15 days ago

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Yes, we said that we will not go deep into the mechanics of Liotes, but there is always some question about how certain things work... So this video is more for those of you who want to know how it looks in the background, what is currently happening, and how we think in a short term, and especially in the long term...

Building something to be sustainable in the long-term isn't that easy job, but when we have started the project we were thinking MOSTLY in the long-term and how our supporters can profit altogether... It is easy to create a program where those who come first, cash out and earn, and all the rest are paying for that... The point of Liotes is that we together create a system where the value of the base token is going up through time... To make that happen, it is important to add value to it through quality content, sell/rent products that are profitable for the customers, and invest time in developing additional income sources...

From the first day, we have been on a mission to do all that... From the start of the LENM token sales, we have created an online shop where you can buy/rent products that can help you in building your passive income, we have created a @liotes.voter account that is rewarding people from the community, added more curation trails for different tribes, etc.

One of the important things is the "burning program" that exists on Liotes... We are slowly building up our buy wall which will burn all LEN tokens that come to it... But, until that happens, we have added some additional burning methods that are already working every day... Some of you probably know about them, but for the rest they are:

  • 10% on shop purchases is burnt almost instantly after the processing of the order
  • 10% of liotes.voter LEN purchases - this isn't a fixed percentage and it will be modified depending on different aspects
  • All dividend gains from @liotes delegations to @liotes.voter (always forget this one to mention)

I didn't mention the last method in the video, but it is also an important one... As you know, when we get author rewards for our posts, that HivePower stays on the @liotes account... To avoid additional hustle with powering down, we delegate all that HP to the @liotes.voter account... Like that, it receives LEN dividends, which are burnt...

As I said in the video, Liotes is a kind of community project, as all of you guys participating in some of these aspects even without knowing it... You are using the shop, selling LEN tokens, etc, and by doing that you are BURNING LEN tokens and raising the value of the project as a whole... Thanks for all your support!

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Today's challenge

We talked about the long term plan of Liotes in this post and we would like to know where you see yourself in 3 years from now. What will you have reached thanks to crypto, what are the goals that you want to achieve?

Just write down your answer in a comment below this post.

You will get 2 credits for taking this challenge and 3 additional credits if your answer is more than just the bare minimum. We are very grateful if you enter the challenge within 24 hours after the post is published. We will try to count entries up to 36 hours after publication.


Liotes

A project run by @ph1102 and @achim03

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Ugh, 3 years is a long time, who knows what will happen then. It's hard to predict. Well, I know for myself that in a year and a half I will be retired and will have more time for these crypto activities.
As somebody mentioned, I hope to be on the beach answering questions like this. And since Liotes is a long-term project, I believe that Liotes will be one of my more important activities. At least within a year, and I wouldn't predict any more than that. The medium-term plans used to be somewhere around 3 to 5 years, but now 3 years seems to me to be a distant future... 😎

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Thanks a lot for your comment. 3 years seem far down the road. I'm looking forward to having your feedback in the future when you will be completing missions from a beach somewhere ;-)

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Cool. One Slovenian band has a song, was very popular about ten years ago it goes - translated: The meaning of life is lying on the beach with your brain off and a chihuahua on guard ...
... and Liotes discussion 😎

I like that idea and I would guess that the last part wasn't part of the song title ;-)

No, it's my adaptation. And means that I believe in your project :)
Yeah, believers are the most important...

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Hopefully, I'm not too late (I've been getting behind on reading posts over the past few days).

In considering where I would see yourself in 3 years from now, I could only think about not being there yet. I really don't think I will have reached my goal in 3 years. My ultimate goal is to be able to provide for my retirement years with my crypto income. While I would like that to happen as quickly as possible, I don't see it happening for five to ten years.

Thanks for taking part! I think it's a great idea to plan for retirement through crypto.

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I hope my plans pan out the way I expect...It would be nice if it didn't take that long, but you take what you can get.
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Thank you.

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3 years from now I am going to be 3 years older than today. Thats a fact. As of the future I am hoping togrow my offline company so I can hire my first employee and have some more time to do the nice things. Best case $CUB goes to the freaking moon and all hive tokens grow by 3000%. I can retire probably if thats the case. Worst case I am at the same point than today, that would be unacceptable in my opinion. Time is there to make the best of it. Financially I think I am going to be on a good way to have enough on the side that can keep my lifestyle up where it is now.
Dream: I get my web series funded by the state and they pay me a shitton of money to do what I love most: making movies.
Maybe we can even shoot a feature film called Project Liotes where mankind leaves the planet for another livable one. Than they face severe damage to their ship and they have to change course for Liotes and make that planet habitable...(Story sounds already great)

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thank you Sir! I won´t miss a mission again! Promise :)

Maybe we can even shoot a feature film called Project Liotes where mankind leaves the planet for another livable one. Than they face severe damage to their ship and they have to change course for Liotes and make that planet habitable...(Story sounds already great)

I really like the sound of this story ;-). Thanks a lot for taking part in the challenge. I just added the points to the ranking and you are very close to the next title!

!ENGAGE 10

Woop woop! I will have to sell some tokens to buy more Lenm

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Hello from a late-comer 🤣

We talked about the long term plan of Liotes in this post and we would like to know where you see yourself in 3 years from now. What will you have reached thanks to crypto, what are the goals that you want to achieve?

There are two reasons that push me spend my time in crypto ecosystem. First of all, I do not want to rely on some others decisions on my financial freedom. To be honest, I want to be free from the policies of rule makers. At that point, crypto is one of the major sources (besides gold and silver) that motivates me to achieve my financial freedom goal. The other reason is directly related to the devastating potential of blockchain to have impacts on our lives. It's exciting to witness every single thing taking place.

My expectation is to be able to spend my time on my hobbies and charity stuff thanks to crypto. As of speaking, I still feel trapped in the existing old-fashion system but crypto & blockchain technology are two sources that are likely to chance the rules of the game. Within 3 years, I see myself in a position that I do not need the fiat currency I earn as wage as I make more gains thanks to the investments I'm doing since 2017. From today, I want to be able to pay my bills to achieve my final goals 😌

As of speaking, I still feel trapped in the existing old-fashion system but crypto & blockchain technology are two sources that are likely to chance the rules of the game.

It is very, very hard to change the "point of view" when we are bombarded with the same shit from the moment of our birth... You have been thought what is bad and what is wrong, to listen to politicians and rulers, to obey every stupid thing that they make up...
And then you see the blockchain technology, the freedom that it offers, the transparency and anonymity at the same time... and it's too much to accept it right away... But, we are moving slowly toward that goal... We just have to be persistent and open-minded... ;)

Good luck with your plan!!!

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3 Years seems like a long time out. In theory, I would like to have enough passive, or varied, crypto income to not have to work at a day job, unless I want to. But, that's probably not too realistic. Still a nice pipe-dream :D I would also like to get a game project finished, but that's been a rolling goal for a while now, and isn't strictly tied to crypto.

would like to have enough passive, or varied, crypto income to not have to work at a day job, unless I want to. But, that's probably not too realistic.

I wouldn't call that unreal at all... That is achievable and you can do it... ;)

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I think it's nice to have a long term goal like a game project to realise. My dream was always to write a book but I haven't succeeded so far because I don't think I can count my e-book attempts as what I wanted to achieve ;-).

Thanks for taking the mission!

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Thank you for the update. I hadn’t thought about the LEN that the @liotes delegations generate. That will burn quite a bit of LEN over time. !LUV 2
I’m currently trying to build a good base within multiple crypto ecosystems. Hopefully in 3 years I will have multiple profitable investments. My wife and I both have decent jobs, so we don’t rely on crypto for any of our income. If this is still true in 3 years then my plan is to keep building up new investments in the crypto world, and have more and more assets to place on new opportunities. I would love to be in a position where a situation like the rise of TLM happens, and I’ve already invested in the project while it is new. I would love to one day be able to quite my job, and be able to work for less at a nonprofit. I’m hoping crypto can get me to that goal, but that’s probably going to take longer then 3 years.

I hadn’t thought about the LEN that the @liotes delegations generate. That will burn quite a bit of LEN over time.

Yeah... All these burning mechanisms are slowly building up and they will play an important role in preserving the value of the token and the investment of the people who are holding them... ;)

I like your plan and it is manageable to achieve... If I look back 3-4 years back, my investment in crypto was like (at least) 10 times less than the value of my portfolio today... So, keep on building and accumulating!

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Thank you for the explanation.

3 years is quite long, I don't know if I will still be living in the same place. I don't know if I will still have a job :D (my current contract ends in 3 years). So in crypto field, I hope Cub DeFi will still be doing well, as it's currently my investment with the highest potential gain. I hope I would have find other solid asset with which I could diversify my portfolio or that the tokens I hold would have reach a decent value.

That's my hopes. Without dreaming too much, I think I will have multiply by at least x25 my current crypto asset value. From there, I am planning to diversify from Eth related chain toward ThorChain and Hive.

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Thanks for sharing your plan and hopes for the future! Everything is possible in crypto!

Good luck to all of us! :)

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Well to me , instead of burning - finding a way to distribute it makes sense, like a giveaway to new users ?

I say this because you already have a good usecase , there is no need of burning . I would suggest you distribute LEN token to already LENM holders or through some other way .

We talked about the long term plan of Liotes in this post and we would like to know where you see yourself in 3 years from now. What will you have reached thanks to crypto, what are the goals that you want to achieve?

I would to live on crypto . I want to move to crypto earnings full time right now but there is just too much speculation in my country about crypto ban right now so I am working on other projects in real life too just in case. In 3 years , I would love to be living only with crypto earnings and will do charity in my free time with my real life job earnings .

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Well to me , instead of burning - finding a way to distribute it makes sense, like a giveaway to new users ?

Well, that's a very noble idea and thinking, but it's not that simple... :) "Burning" money doesn't seem like a positive thing, but if we say "removing" the tokens from the markets, it looks a bit more acceptable... The problem is that we don't have an infinite source of money to buy back all tokens out there, and we have to do this kind of measure to preserve the value of the token...

If we do something like you said, the value of YOUR investment would drastically go down... Think about FIAT money and infinite money printing... without any backing up that with some value... The result is inflation and less valuable money... We are trying to create something different and something sustainable in a long term...

I want to move to crypto earnings full time right now but there is just too much speculation in my country about crypto ban right now

Yeah... The only way that "they" can stop crypto is to ban it... But, I believe that even then, it would evolve and survive... Crypto can't be stopped!!

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Thank you very much :) Appreciate it but I guess I am lagging behind in terms of credits .

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Hmm, 3 years is either too long or not long enough for me. In 3 years time we would probably be at the bottom of the bear market getting ready for another bull. I will make some changes before and during the bear market, mostly for the safe-keeping of the profits from this bull. Then, slowly get ready for the new bull. I might diversify more than now, but mostly I aim to have more in the projects I'm already involved in, if they proof to be resilient and long-term oriented. On a much longer term, I plan to reach financial freedom based on crypto or wealth produced in crypto-verse.

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I might diversify more than now, but mostly I aim to have more in the projects I'm already involved in, if they proof to be resilient and long-term oriented.

This was my mistake at the end of that last bull market cycle... I didn't have the experience from before, and I had a bunch of tokens that "are looking good" at that moment, even with some nice ideas and development... But, they weren't resilient, as you say... They didn't survive, and my portfolio suffered a bit from that... Luckily, I had some other bags of more valuable cryptos...

If we have another cycle as we had in the past, it could make a lot of difference to you and all people who learned from the past... ;)

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Thanks! :)

Crypto has already done so much for me. It has made me step out of every comfort zone I have and show up every day.
In 3 years I hope to have amassed enough crypto to where I can answer questions like this from a beach. I don't care what beach, any nice one will do. I also want to be in a position where I can help others do what I did and gain financial freedom. Eventually, I will get to the point where they call me crypto craig.

Those are nice plans for the future, Craig! I would like to hear you from some nice beaches in 3 years!!! :)

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What will you have reached thanks to crypto, what are the goals that you want to achieve?

I want to be financially independent on crypto. So this means that I can work on what I want to work on. If I ever feel like I like stopping or taking a break I can. This means I can focus more on what I enjoy such as games. For example, I can buy the latest games and play them. I tend to like those JRPG games and I like to finish everything if possible. So I sometimes sink in hundreds of hours into the game. I hope block chain gaming takes off more so I can also earn while I am playing too.

Of course to ensure this is possible, I want to build multiple income sources such as HIVE, LEO, and other investment tokens such as LBI and UTOPIS. I am branching it out to WAX as well with my RPlanet staking plan. As of now, my Aether generation is at 820 and it generates about 15 WAX a day at current prices. Maybe if a few more block chains open up and they open up a decent money making opportunity, I'll jump in there as well.

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I hope block chain gaming takes off more so I can also earn while I am playing too.

I think that a lot of people would like to see this happening :) Actually, I think that that can happen especially if you are there in the early stages... Like SL, RS, Alien Worlds at the moment... These games are online for some time, but they are still "young"...

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It seems to me we need a new rank. Lenburner :)
I am happy to help you guys burn LEN and now that LEn is accepted at @risingstargame I will even burn more :)

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It seems to me we need a new rank. Lenburner :)

We had some ideas on that... lol... :)

Purchasing RS packs don't burn LEN tokens directly, but it does in an "indirect" way... lol... It's complicated... :)

Btw. There is a "mission" in this post, so if you want to participate, check out the description of the post... ;)

Thanks for all your support! Appreciated!

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