A Closer Look Into Leofinance.io Miners (LEOM)

in LeoFinancelast month (edited)

I have noticed a couple of posts around LEOM recently (Link) which is the miner token of Leofinance.io, so I had a closer look into is to see if it's one of the possible passive income streams I would want to get into...

What is LeoFinance (This Part is for Publish0x and Uptrennd)
So Leofinance is basically a crypto blogging platform that centers around finance & everything crypto-related build on top of Hive-engine which is a second layer of the Hive Blockchain. It has it's own LEO token & LEO Miner token and it is somewhat a mix of other existing crypto blogging platforms.

  • Hive/Steemit:
    The layout and general upvote model is very similar.
  • Publish0x:
    It has a similar audience target as both are centered around Crypto & Finance.
  • Uptrennd:
    The token value is backed by advertisement revenue making it flow back to users.

When it comes down to crypto blogging platforms, things can get ridiculously complicated with many aspects making no sense whatsoever (Don't get me started on that). My general view is that for most it's all just about the rewards with the 'blogging' aspect being merely a tool to get to them. Take away the rewards and the entire 'community' will pretty much fall apart. Leofinance gets some parts right (development/token burns) and some parts wrong (content discovery). Overall it's by far the most successful tribe on Hive and certainly worth taking a look at for those who are into crypto blogging.


LEO Miner
Here is where things go to the next level and I have to hand it out to the ones who came up with this concept. Basically, LEO has a fixed inflation part of that inflation (I believe 15% in the case of LEO) is being mined by virtual miners which come in the form of LEOM & LEOMM (Mega Miner). If you stake these miners you have a chance to passively get some LEO coins. From what I understand, it's an extra way for developers to get some more funds.

It is pretty much "COINCEPTION".

Get LEOM to mine LEO, that can be converted to Hive in Hive-Engine to be transferred to your Hive Wallet where you can send it to an exchange to trade for BTC, Trade the BTC for Dollars or Euros

LEOM -> LEO -> Hive -> BTC -> EURO -> BUY THINGS

There are a handful of different Miner coins like this on Hive-Engine


Most Tribes on Steem/Hive miserably failed and show a similar pattern. It starts out with a tribe that is fairly cheaply created with a lot of Fomo of people who want to get in early in the hope to get good returns being able to sell what they earn from their stake to future buyers. Everyone all of a sudden starts becoming a blogger on the specific topic of that tribe pumping out as much 'content' as possible with Post2Mine / Upvote4upvote /Pretend2Care as the main keywords. Once early buyers become sellers and no new buyers come in everything pretty much collapses since most times there is little to no development or fundamental value behind the tokens.


The reason why Leofinance.io has been a success is because it has had some great development and things are actually happening with the value of the token being backed up by actual revenue (See Weekly Leo Stats Post).

Especially when looking at the total token supply chart it can be seen that the inflation is pretty much being destroyed by buybacks that get burned


With the number of users going up and the ad revenue also increasing, the price of LEO recently got a big pump.


The LEOM tokens are sold at a fixed rate by the team for 2 HIVE each which has made them far more attractive as the yield that can be gotten on them at the current Price LEO is going for is pretty high. Since everything is on the blockchain it can easily be seen how much the ones that are staking LEOM earn by going to the LEOM rich list here comparing it to what comes into the wallet. Doing this it can be seen that the Yield currently is above 100%. This will most likely come down as only around 35% of the total token supply is staked. Still pretty nice returns.


Is LEOM Worth Buying ?
Honestly, I don't know. From what it looks like, Leofinance has survived the first and most difficult stage of existence and it's far less of a gamble now. I like what they are doing even though I still have quite some issues with the general upvote & content discovery it runs on. I will start out buying 100 LEOM with 200 Hive I have on the side just to start monitoring it more closely and I'll see where it goes maybe buying more along the way.



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This was a great read, thanks for sharing your perspective and the numbers you dug up. I think the miners have become an interesting value prop - especially when you look at what happened the value of LEOMM's after they sold out. I don't like to push selling the miners because the returns can vary wildly depending on your competitive share of the overall staked supply. Like many financial systems in life - it favors the passive whales who stake up a large % of the supply and just sit back and collect their paycheck.

For content discovery: we're building our new interface from the ground up (https://beta.leofinance.io). It's in early beta still, but you'll see new features added almost daily as we design, test and roll out the updates.

The homepage is an addition we implemented recently which displays a curated feed at the top and trending / created feeds side-by-side below that. The curated feed follows an algorithm based on recent upvotes made by my personal account coincided with the time they were casted.

It's an interesting way to at least show content that has been manually approved as being "quality" - at least, quality to my subjective taste. Over time, we want to tweak the algo and allow it to scrape the collective votes of a handful of accounts who manually curate good content.

image.png

As you can see, you're post is now in the #1 slot (since I upvoted it with 100% of my VP). It's an interesting system and we're just getting started on it. Soon we'll add a "See More Curated Content" to view a longer list of curated content that won't just show 5 posts/recently paid out posts but a much longer list of content that we've curated along with filters to look through historically great content on the site.

We're always open to suggestions on this front as well. If you've got any, feel free to drop them here or Discord/TG/Twitter with a tag 🦁

Posted Using LeoFinance Beta

Nice to read that content discovery is being worked on. I have been thinking about ways for a system (like on Reddit) that puts the most interesting content based on individual user preference on top. It's quite a challenge. From my personly experience, Publish0x does that the best.

1 account 1 vote, only possible to do them manually on the bottom of the post after reading them limited to 6 each day with votes being anonymous so there are never alternate motives for giving upvotes.

I guess having a separate or combined Upvote for Post-exposure / Upvote for Post-value mechanic with part of it being centralized might be a way to actually get what most people find the best on top. I guess something like this could be quite complicated to implement. (I'm not a coder). Anyway, it's just an idea. If you haven't yet, I would say try out publish0x to see how they handle getting the best content on top.

I'm looking forward to everything that's to come for Leofiance. I'm quite confident it will still be around a couple of years from now.

Cheers,

Posted Using LeoFinance

That's an interesting system. I honestly haven't yet tried Publish0x but I keep getting recommendations to give it a shot and pull from what they're doing.

I'll take a look and see if we can get some interesting ideas from them :)

Posted Using LeoFinance Beta

Happy to see more & more users getting interested in the miners! Frankly, I can't stop buying them

Posted Using LeoFinance Beta

I can see that it's quite addictive yet, already bought some more today and will likely continue buying extra each day from now on.

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LEOM -> LEO -> Hive -> BTC -> EURO -> BUY THINGS

Tomorrow it will be LEOM -> LEO -> wLEO -> ETH -> Fiat -> BUY THINGS

Posted Using LeoFinance Beta

haha - mind blown!

Posted Using LeoFinance

+1 :-)

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LOL I prefer LEOM -> LEO -> wLEO -> ETH -> USDT -> BUY THINGS

Once my crypto.com card finally arrives I can cut out the UDST part I can really start buying things

Posted Using LeoFinance Beta

I have a crypto.com card (and loving it) but it doesn't allow to actually spent crypto as you need to convert it to FIAT adding that to your card.

Posted Using LeoFinance

Ah I thought it just converts on point of sale, so you cannot just have say USDT on the card and spend that?

No, you need to first sell crypto to FIAT (or make a FIAT Deposit). In order to use it to buy something, you need to load that on your pre-paid Visa card. It all works pretty well though and you pretty quickly start taking the cashback for granted. I'm very happy with my card.

Ah thanks for the explanation, I am looking forward to getting mine and moving my Netflix and Spotify subscriptions over to that card. I;ve already connected my credit card to crypto.com so fiat spending wouldn't be an issue to load up. I don't know when the card will be available in my region though

My formula is a bit different:
LEOM -> LEO -> wLEO -> BTC/ETH -> HODL !!!
Why to go back to the f**ng FIAT ?

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I'm with you on the HODL, the extra step back to fiat to potentially buy something is just a step added to show how far the 'coinception' goes.

Posted Using LeoFinance

Thank you for the article. I also wrote one about my 1-year experience with LEOMM. Maybe you are interested to read it and check the numbers. Kind regards, this is @no-advice ;-)

Posted Using LeoFinance Beta

Nice, I always enjoy these types of posts where numbers get broken down. I started keeping track of my own results also today on Leo Miner rewards.

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I think the only thing holding the site back once the beta becomes the main site is the login and onboarding, once that's sorted we can flood users in, they can earn and get to know the place and we can see the user multiplier effect in the process.

I am thinking about buying LEO miners if LEO shoots up I'll trade some and buy miners

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"I think the only thing holding the site back once the beta becomes the main site is the login and onboarding, once that's sorted we can flood users in"

We have something up our sleeves @chekohler ;)

Posted Using LeoFinance Beta

Nicely written post about the potential of the LEO token and their miners @costanza.

Equally bullish, the Man Cave Project was the single largest investor into them, to the benefit of our "Band of Brothers" via the weekly distribution of some of BroFund's LEO token holdings ...

With you and many others, we are looking forward to seeing what the future holds for LeoFinance and happy to be a part of it!

________________________

Manually curated by the Man Cave community!

(in support of our LEO investment)

@roleerob

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Nice to see you are doing well on your hive investments!

Posted Using LeoFinance