We have burnt the whole LEN supply of the week

in The CTP Swarm2 months ago (edited)

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Before we started the Liotes project, we had a clear picture about the tokenomics of it. However once the project was launched, we constantly had new ideas to improve the project and this kind of troubled our tokenomics.

We now have reached a point where we have integrated the new ideas and managed to set up a sustainable system. This week for the first time, we managed to burn the whole weekly supply of LEN tokens.

LEN tokens can only be produced by staking Liotes Mills (LENM). There are 144 LEN tokens produced per day and 1008 tokens per week.

Our objective is to provide buy orders for all the tokens in circulation in a sustainable way. In order to achieve this objective, we will try to keep the amount of tokens in circulation relatively stable. Like that we can plan easily and we always know how much hive we need to balance these orders.

This also means that we consider the actual prices for LEN tokens sustainable and we hope to be able to stabilize the LEN price around this value. In the long term however, we want to be able to make this price grow.

In the video you will get all the detailed information how our project is growing. It's looking good and we are quite happy with where we stand today.


Liotes

A project run by @ph1102 and @achim03

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Its nice to be able to burn down the entire week's supply. It will definitely keep prices up and so long as the use cases keep up, we will definitely see this continue in the future. Do you think there will ever be a lack of LEN?

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Do you think there will ever be a lack of LEN?

Our objective is to be able to have enough buy orders in the order book to buy back all the LEN tokens in circulation in a sustainable way. The idea is to keep the supply stable so that we can achieve this goal easier. If the ecosystem grows then it's possible that there will be a lack of tokens one day :-)

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Awesome! Keep providing more and more use cases for the token and we should see prices skyrocket.

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We will try to add some more use cases and we are already happy if the token grows steadily ;-)

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Ok. it's good to hear that everything is as planned. 😎 👍

We had a plan but then we improved the plan and now we have a new, much better plan ;-)

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Aha, so the plan is alive and improving ... 😎

Exactly ;-)

💪😎

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Nice to see additional uses being added, like the Rising Star packs :)

Yup! People can buy them directly in the game! Also, we have added SL Untamed packs in the shop, so those can be also bought for LEN tokens... ;)

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Thanks for all the hard work. I’m glad to here everything is continuing to run smoothly. !LUV 1

You are welcome and thanks for supporting the project the way you do!

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I enjoy my LEN tokens and most probably I'll go for buying packs on Rising Star game. However, renting is also an attractive option 😂 This is the dilemma that we go through as LEN hodlers 💁‍♂️ Thank you very much for your precious efforts once again :)

You are welcome. It's a pleasure to do this work when there are so great guys in our community that comment our posts all the time ;-). We appreciate a lot !

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This is an incredible achievement! I don't recall Hive, Leo, CUB or many of the other major tokens here having reached that point, so congratulationsare in order!

I bought an extra LENM the other day, and to mark this milestone, I'll go out and buy another one today :).

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That's quite true, I don't think that there are many tokens in the hive-ecosystem that manage to do that ;-). Nice to see you buy some more LENM !

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Hi @liotes, you were just shared some LUV thanks to @horstman5. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares