It's official. Steemleo has been alive for just over 6 months now. The past half year has flown by and what Steemleo is today hardly resembles what Steemleo was 6 months ago. Today we are a strong community of hundreds of regular users and stakeholders. Back then we were a handful of people working on a moonshot mission to create the best decentralized community for investors.
Ad revenue is on the rise, Leodex listings and activity are at an all time high, staking numbers are at an all time high, the LEO price has found stability and we're working on the final stages of testing for our biggest sink yet.
If you think of Steemleo as one big decentralized business that we are all a part of, then our business is in a major growth cycle and the KPIs (key performance indicators) are all looking better than ever.
Here's how our burns are looking:
In total, we've burned 1,349,093.92 LEO tokens (25.94% of the total supply).
This month, we've burned 204,607.32 LEO tokens (5.3% of the circulating supply).
Sinks are one of the most important aspects to a healthy token economy. If the underlying token isn't used for anything and burned up, then the supply will perpetually inflate and negatively impact the price. Below is an ongoing list of our major sinks for the LEO token.
1). Crypto Fantasy League. --> Join our discord, build a play money crypto portfolio and compete to win LEO by having the highest ROI each week. 15% of the weekly LEO prize pool is burned.
2). SteemLeo LABS. Leo Accelerator for Businesses on Steem. We're working 1-on-1 with businesses, tribes and token creators to help them with their launch and various other things like token airdrops, marketing, etc. In exchange for all this, the businesses burn LEO.
3). We’re burning all of the LEO posting/curation rewards earned by our main @steem.leo account (so upvoting any post made by @steem.leo is effectively earning you curation rewards but then burning our author rewards and depleting the supply of LEO — also referred to as a “burn post”)
4). The @leo.voter is the Native SteemLeo community voting account. It upvotes content that is posted from https://steemleo.com and burns a portion of the LEO that it distributes to SP delegators. The current APR for delegators to this account is 18%.
5). Burn LEO to promote your post on the Steemleo.com interface --> if you send LEO to @null with your post link in the memo field, then your post will appear as promoted on our trending page and those tokens are permanently removed from the supply
6). Ads on Condenser. We partnered with Coinzilla to display their ads on the SteemLeo interface. This happened just 2 months ago and is burning thousands of LEO each month. The ad revenue has doubled in the past month and we still have plenty of upside potential from this sink. It's likely that we'll see 5-digit burn figures from Coinzilla ads in the near future.
7). Ad Spots on the Steemleo Show Podcast (future sink). We already have a large enough listenership to sign up with an ad network that would run before and after each podcast episode which would work similarly to ads on condenser by burning tokens from the market.
8). Syndication Posts. We're burning a portion of the LEO author rewards from syndicated content.
9). LeoDex. We just added the LeoDex sink in the past month. Through listing fees, LeoDex has burned 15,000 LEO in the last month. There are also ads at the bottom of each page on LeoDex (excl. the wallet page) which has been a clear factor in the doubling of our ad revenue this month.
10). LeoShop. The LeoShop is in its final stages of testing. We want to iron out all the kinks before we launch it publicly. The LeoShop is a decentralized marketplace where users can buy and sell products and services with each other using the LEO token. If you have a digital product or service you would like to list on the LeoShop, we urge you to do so! It's free and the opportunity to list your amazing product/service on the blockchain is here. Just get in touch with someone on the team in our Discord server.
Amount of Staked LEO Is 91% of the Circulating Supply:
Last month, the amount of staked LEO was 2,667,947.14.
This month, the amount of staked LEO is 2,783,450.41. An increase of 115,503.27 LEO or 4.32%.
That's 72.25% of the circulating supply if you factor in the sell wall. (last month, this number was 67.83%. So we're seeing a continuation of this trend of LEO being staked and burned faster than its earned).
Technically, the sell wall doesn't really count as those tokens will likely never see the light of day. So if you remove the 800,000 tokens still remaining in the wall (which will be completely burned in 4 months), then the actual staked number looks more like this:
2,783,450.41 LEO staked = 91.2% of the circulating supply (when excluding the sell wall).
This means that less than 9% of the LEO supply is actually liquid and "available" for the market to trade. This is likely one of the major factors contributing to a stable/steadily rising LEO price.
As I said last report, it's not uncommon to see people complain about liquidity when they try to accumulate LEO. There is good and bad to this problem but it means that when a new whale emerges, we see the LEO price jump anywhere from 50 to 200% or more.
This also has something I like to call the Game of Thrones effect. Look at those buy walls below and tell me that it doesn't remind you of a certain wall of ice. Unless we see any dead dragons coming back to life, I think we're in the clear for a while. 🐉
LEO Price & Buy Walls
#steemleo - A Next-Generation Community for Investors
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- Chance to get featured in The Daily Leo and earn beneficiary rewards
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