Recent proposal made for LBI - What do you think?
Hello hello, today we look into an LBI proposal that was recently made. Normally when proposals are made, we wait until voting comes around every 6 months but in this case, time is a factor so im thinking we should vote on this sooner than later.
In a nutshell, the proposal is the allocate some funds over to the COSMOS blockchain and use them for investing in the OSMOSIS defi platform. The proposal came from @hykss and their post can be seen here
I kinda like the idea, it's something (s)he is already doing from their personal wallet so it's not that much extra work. (S)He has agreed to share the keys for access to the LBI wallet for auditing and has funded it with 15 OSMOSIS tokens ($80) to get us started. If you did not click the link above yet, please do.
Damn 150 words in and im done, kind of just writing this to promote the proposal some. Anyways, im sure the GOV team have seen it already and will get to getting a vote done within the next week. I'll have a look and see how much funds we will be able to free up in the meantime.
For those that are not aware. All LBI tokens holders with a balance of more than 10 LBI tokens are able to vote on LBI governance using a weighted voting system of 5 tiers that discourage whale manipulation.
- 10-99 LBIs will earn a vote equal to 1
- 100-499 LBIs will earn a vote equal to 2
- 500-2,499 LBIs will earn a vote equal to 3
- 2,500-9,999 LBIs will earn a vote equal to 4
- 10,000+ LBIs will earn a vote equal to 5
The voting post will be uploaded from the @lbi-gov account so please if you have not already, go and follow that account so you dont miss out on future LBI voting.
My Thoughts
I like the idea, I dont know that much about the COSMOS blockchain, im aware of it but never used it myself. I'll convert some BNB and do something on it to see how it works but my thoughts are, could turn into a nice little earner that compounds down on itself. I'd like to see what the LBI tokens holders reading this think about the idea.
Oh and lastly, no LEO or HIVE would be powered down to fund this. Just thought I'd throw that out there as well. As always, feedback is welcome below. Thank you for reading today's post.
Here's a snap of the LBI COSMOS wallet from Hykss's post.
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I'm saying YES to this proposal.
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yes from me as well
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Maybe it's time to revise these rules as 6 months in crypto is insane.
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It is a long time in crypto land. Proposals were in my mind meant to be used more for LBI governance, changing the rules, structure etc. As for investments and token holders offering up a hand to help out, i totally agree with you.
Good to know as time is of the essence here.
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Sounds interesting. I'm not in COSMOS myself but I heard it's been performing well.
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I've been looking into briefly, will get more time tomorrow when i have the day off :)
If not from the LEO stack, where would the money come from?
Isn't choosing a random defi project like this more suited to SPI?
I would personally prefer LBI to focus on building positions across the LEO ecosystem rather than picking unrelated flash in the pan defi projects.
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The money will come from the BSC wallet, nothing on HIVE/LEO. I was thinking 0.5% of the total value.
Having non-LEO holdings has worked out very well for LBI as the LEO price crashed. The same can be said for SPI, most of its growth comes from off platform holdings. We have around 2500 LEO in the wallet but what to do with it? stake it?, put it on CUBfinance?, lease it on leofi?
Thanks for your feedback.
Fantastic idea. I'm a fan of Cosmos and I've been using Osmosis DApp for three months providing LP of OSMO/XPRT And ATOM/XPRT sincerely yours the APY is amazing over 200% and you know the more pool increases the drop the APY become but it's an amazing proposal. XPRT is persistence one project on Cosmos network and it's another project to watch out for. I will follow @lbi-gov right away.
Thanks for sharing
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Hey, thank you for your feedback from your experience with the platform. Im gonna try it tomorrow on my off to learn the ropes.
Very interesting. You thinking you will just take the next couple of weeks of earnings and throw them over there instead of rolling them back into the current stuff? I will start talking to the Gov team about a post today.
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Na, i'll use holding from the BSC wallet. Nothing on the HIVE blockchain will be touched :)
Buy Shiba.
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Ahhhh, maybe YES...no
Not for LBI, that's more SPI
and still no, but would like to just to YOLO. hahaha
Sounds like a good plan to diversify the portfolio. And great to see this initiative from one of the shareholders!
I've voted, i'll use funds from the BSC wallet so nothing on the HIVE blockchain will be touched. Thank you for your feedback.
I agree I have osmo as well and I think that cosmos blockchain hold some importance in the future cause there are a lot of swap and dex are coming on the cosmos network
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I dont know much about it to be honest. Im gonna try it out tomorrow on my day off with some personal funds to learn the ropes. Been talking to a few people that have had good results.
I like https://app.osmosis.zone/ its a swap like here on the hive with almost zero fees I like it cause I don't have to waste my asset while swapping
NO
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you must have a reason why you would say no how about sharing the reasons you sdaid no so loud
0.5% of the total fund. Can fund it from the BSC wallet.
Just wondering shouldn't the vote be on the LBI-gov account and not the LBI account? I think I'll wait a day or two to see the reasons before giving the final vote.
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I think I will be voting no. When the vote comes out that is
That's cool. Thank you for your feedback.
Sounds like a great idea. I will be voting YES come voting day! :)
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Cool, thank you for your feedback. I think the guys are already working on the post. I see they are active in their discord chat :)
I looked at both post, yours and theirs, and no link to the site. While I may not understand a lot about crypto, or de-fi, if people want people to take serious a proposal then a link to the site they are pushing should be provided.
There has been at least two incidents of Hetty Rowens LBI guessing game that the coins prices she was looking at were different than the ones others were looking at because the names of the coins were the same.
No Link = a No vote, from me.
I know what will come next from people ----- Do your own research ----- provide the means and I would have.
Fair point ;)
This is Osmosis platform URL: https://app.osmosis.zone/
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Having done a quick look and read and search, my vote would still stand at no.
Good point, I'll remember this and not make that mistake again. Deffo should have had a link there.
Just voted yes. That's a great direction to go towards imo (saying as a user of Cosmos Ecosystem).
Awesome, i've just learned the voting post is out. lol
I have been entering Osmosis a few days after its start. It was at the peak of its price, around $7 and has not get back there yet. However, I have already doubled my investment and got involved in more projects like Akash and Atom. LP rewards are high and there are great projects on Cosmos. I see this as a awesome and low-risk opportunity.
Thank you for the feedback. I've been talking with JK about it
Thanks to @hykss for coming up with the proposal. It may be nice to have skin in the game of other projects just for educational purposes if nothing else. As long as we are not risking too much.
I will research a bit before casting my vote.
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Nah, i was like $500 to get a feel for it which means $500. Im gonna play with tomorrow on my day off with my personal funds to learn the ropes.
And thanks for acknowledging hykss for bring up the proposal.