SteemLeo has released a DEX - Let's get SPI tokens listed
Good day everyone, I have just found out the most amazing news. I can not believe that I was unaware of this for the past week. Yesterday I wrote a quick post asking everyone if it would be a good idea to maybe run a 1-week promo were we sell SPI tokens for Leo tokens. The feedback I received was good but someone left a comment asking me why I don't just the new SteemLeo DEX? My jaw hit the ground as this is perfect for what we need. I mean SteemLeo is just always on the ball, they launched maybe 2 weeks before SteemPower Investments was launched and it's been the perfect frontend so far. SPI currently leases over 25,000 SP to steemleo which is a decent chunk of our earnings and just when we start thinking about selling SPI tokens for Leo tokens, they release their exchange. The timing is perfect and it's great to grow SPI alongside the Leo tribe.
What's the story
You can click here to see the post by @steem.leo. In a nutshell, SteemLeo has launched a Leo exchange that works in the same way steem-engine does except trades are done using Leo tokens instead of STEEMP. They have added a link from the Steemleo website which integrates it in. It works both ways and anyone selling SPI tokens will have the option to sell them for STEEM are LEO tokens. How perfect is that?
Now, this is 100% percent something that we want to be part of as it's just too good to pass. Who would have thought 4 months ago that SPI tokens could be trading on 2 exchanges? This will be a great exposure for SPI and will help us secure our spot. It says in the steem.Leo post that in an effort to stop shit coins, the price to get a token listed costs a little more than steem-engine. I have visited the exchange, logged in but was not able to find how to add a token. It said in the post that we need to send LEO tokens to null to get a token listed but not seeing any options on the DEX website itself makes me hold off. I have DM'd the founder but i know he's his bedtime now and hope he replies soon.
Paying to get listed
The cost to add a token is 2000 LEO tokens which might sound a little high but I'm dollar terms, it not at all. At the time of writing 2000 LEO tokens cost 415 STEEM are $55ish. Now, i have been thinking for 5 minutes about how we pay for this. We have a few options and ways we could pay for this. Let's have a quick look
Pay from @spinvest-leo
This would take some time as a full power down would be required. Spinvest-Leo holds just over 2000 Leo tokens. I don't really like this option
Pay from STEEM saving wallet
We have around 960 STEEM in the saving wallet and by this time tomorrow, we will have over 1000 STEEM and be able to do our off-platform investment into silver bullion. We could use this STEEM and build up again, this would put the silver investment off for maybe 2 weeks max. This option is ok, its better than powering down spinvest-Leo but i think we can do better still
Pay with our Post Payouts
From around 3 months ago all earnings from the daily posts have been getting paid in SP only. The plan at the start was to send post payouts to the savings wallet for off-platform investments. Instead, they have been building in the SP balance. I have been aware of this for a while because of the way i track everything, i never said because it's not that important. But it has built up into a nice chunk, let me show you how we work out. It's pretty simple, using figures from the last "holdings" post we take away the total amount of STEEM raised from tokens sales from the accounts SP balance.
The red number is the total amount of STEEM raised from selling SPI tokens.
We can access this without having to power down. First off, we have 100 STEEMP on the steem-engine exchange which can be transferred to the Leo exchange meaning we need 300 more. We can use the STEEM from the next 260ish SPI token sales to fund the other 300 STEEM required.
What you think?
This is a great opportunity for us and our club and should only produce good results. 400 STEEM is about 1 week's worth a earnings but on the mission to keep expanding, it's a small price long term. With the cost being higher, fewer shitcoins will be offered on Steemleo's DEX compared to steem-engines. This will give much more exposure to SPI token.
Below are steemconnect hotlinks that allow investors to buy SPI tokens directly from @spinvest. Each token is currently priced at 1.20 STEEM and beside each link is the true STEEM cost to reduce confusion. You can also send any amount directly to @spinvest and i will issue you SPI tokens to 2 decimal places for the value of STEEM to send. All tokens bought directly will be sent to investors SE wallets within 24 hours but most likely much sooner.
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5 SPI tokens - 6 STEEM
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10 SPI tokens - 12 STEEM
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25 SPI tokens - 30 STEEM
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50 SPI tokens - 60 STEEM
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100 SPI tokens - 120 STEEM
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250 SPI tokens - 300 STEEM
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500 SPI tokens - 600 STEEM
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1000 SPI tokens - 1200 STEEM
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2500 SPI tokens - 3000 STEEM
| Information | URL Link |
|---|---|
| SteemPower Investments Introduction Post | Click HERE |
| SteemPower Investments Club Partnership Agreement | Click HERE |
| How to become a club member | Click HERE |
| How to convert SE tokens into SPI tokens | Click HERE |
| Join the SPI club Discord server | Click HERE |
| Join the SPI curation trail | Click HERE |
| What's best for the SPI Club? Centralized vs Decentralized | Click HERE |
| SPI tokens 95% buyback guarantee | Click HERE |
| SPI Club monthly Fiat to SPI token group buy | Click HERE |
All questions are welcome, please ask in the comments below
I’d say we absolutely go for it. 3rd option appeals to me as well. Best we put those post rewards to good use and increase exposure to SPI. Only beneficial in the long run, which is how we here at spinvest think anyways.
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Should be listed soon. I think i'll go with option 3 and hope/assume everyone is cool with it.
Sounds like general consensus is people are cool with 3. I know I for sure am
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Maybe have a members' vote on whether to list SPI on LEO dex using rewards from post payouts? (I don't suggest offering the other options, just whether members want it listed and how it would be paid for).
I think this is a really good idea and I like it :)
I also think it is a very good way to use additional rewards from post payouts. Although post rewards contribute to the growth of spinvest, they're not the mainstream way that the fund grows (that's through the leases), so it seems to me that members have a little flexibility about how these rewards are used. Using them to get SPI listed on the LEO DEX seems an excellent proposition and one where we know the costs before we start.
Also prefer to see @spinvest-leo as a separate self-financing account, where the main account is neither subsidising nor raiding it. I think that's a good model for future projects.
Look forward to hearing more when you've heard from the LEO founder.
I'm just tagging @dmilliz and @donald.porter as they may want to list #jahm on the LEO DEX.
Great work @spinvest (you and the leo founder haven't got an ESP thing going on have you where you read each other's minds)?
Definitely, shani. I see this as a great opportunity to embrace our partnership we’ve previously formed with steemleo :))
MOARRRR growthhhh
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Hehe 😎
Hey, thanks for the comment.
I have known about the post payouts building for a while now and think this is an excellent use for them. Like you said, we are earning our 20% from leasing already and post payouts are gravy :)
@spinvest-leo will be run independently as best as it can without having to introduce an LPI token. lol.
Had a DM back from the founder and get the go-ahead. Ok, just need to find 400 STEEM this evening and i'll have something good to write about in tomorrows membership list :)
Just bought 300 SPI tokens for myself to get the STEEM quickly :)
👏🏻👏🏻👏🏻😍
I think it makes sense to get listed on the LEO Dex, it fits the long-term goal for SPI. I hold a bit of LEO that is not staked. Maybe we can work something out if that would be helpful in get listed on the LEO Dex.
Already had word back from the founder and we are good to go.
Right now trades are done using STEEMP but it will only be a few weeks before trades are done in Leo tokens. The LEO Dex site right now is like version 1 and they are working on version 2 as we speak. The founder and his dev's are really geared toward inovation and improvment on everything.
Writing on Leo DEX makes sense. Without complicated transfers, LEO can be used to purchase SPIs.
Hell yeah!!
It'll be great when it's all sorted. Right now trades are done using STEEMP but it will only be a few weeks before trades are done in Leo tokens. The LEO Dex site right now is like version 1 and they are working on version 2 as we speak.
If the new version of LEO-DEX puts the exchange on a pair of LEO / something, it will be a great move :-)
use the steem from the next purchases to fund the exchange listing... I assume this has to be paid in leo so that just will raise the value of that token a lot
Yeah, we'll need to buy the 2000 Leo from the exchange which will, of course, be good for the price. Better than that, we have to send that LEO to @null to burn them which is even better for the Leo price.
Good things all round
I think there isn't much advantage in spending for listing on LEO DEX. LEO community is a small community and that is actually a small subset of total SE tribe membership. So everyone is already using the SE platform. User Interface won't make much of a difference as anyone interested can go to the SPI market page through clicking on the link given in your posts.
Even if listing is cheap, it doesn't mean we should go for it. It's better to provide liquidity on a single platform for now. Once transaction volume increases, we can think of listing at other places too but I don't find it any compelling as of now.