3 Months Already!? Wow, time flies. Welcome to the 3rd LEO burn report.
In total, we've burned 725,720.87 LEO tokens (15.16% of the total supply).
This month, we've burned 217,084 LEO tokens (4.53% of the total supply and an increase from last month).
We've also seen a crazy run-up of the LEO price this past week. Great work everyone and shout out to the new LEO whales on the block 🦁
Last month we announced a few changes to the interface and we've had WAY more implemented this month. If it's been a while since you logged into https://steemleo.com, I urge you to check it out.
There were well over a dozen changes this month, but some of the most exciting ones are:
- Recent Posts By ____ at the end of each post (showcases the 5 most recent SteemLeo posts made by the author)
- "Guide to SteemLeo" in the sidebar (the first of many additions to help with educating people about SteemLeo, Steem, Investing, Blockchain tech and more. We have some awesome pages and modules in the works to onboard and educate new users)
- Written from SteemLeo.com badge (a LEO token badge next to the name of a user who posted from our interface)
A sink is a means to burning tokens. Ideally, creating several sinks that consistently burn tokens will offset inflation and create a healthier market price for the remaining supply.
1) The Crypto Fantasy League game in the SteemLeo discord channel. This game is far more about having fun than really burning tokens, but it still burns a small amount of tokens each week and also gives users a way to spend their LEO on something that's enjoyable.
2). The Steemleo LABS Project. In the past month, we officially launched LABS by SteemLeo which helps token creators and tribe founders to work with us and build their business/community. We've offered help with things like automated airdrops, Proof of Delegation distributions, ENG investment to get the tribe off the ground, etc. This month, approximately 10,500 LEO was burned for LABS and we expect to see something similar in the coming month as we get more tribes/communities working with us.
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”). This has stacked up to be one of the largest contributions to our regular burns. Thousands of LEO are burned through official posting/curation rewards each month. Upvoting posts by official accounts such as @steem.leo will lead to larger burns and potentially large curation rewards for yourself as well. It's a win-win!
4). The @leo.voter is the Steemleo community voting bot. We are actually converting this bid-based voting bot into a community voter that will upvote content that was posted directly through the Steemleo.com interface. Doing this will increase usage of the interface and ultimately lead to better traffic, more Brave BAT rewards and more burned LEO off the market. It distributes LEO to SP delegators and also burns a % of the distribution each day. It currently has about 60,000 SP delegated to it.
5). The Steemleo Weekly Writing Contest. We've run 1 Steemleo writing contest and decided to go back to the drawing board to make the contest better. The weekly writing contests will resume at some point in the near futrue when we get a few more details sorted out.
6). 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 and those tokens are permanently removed from the supply. We have a healthy amount of LEO burned through promotion and we expect this to increase over time as usage of the interface continues to grow.
7). Ads on Condenser (coming soon?). A lot of people have asked if SteemLeo will introduce ads on our condenser. I'm not entirely sold on the idea of having ads all over the interface and making it look cluttered and unprofessional. I've been monitoring the performance of ads and have seen that the burn rate for ads each month hardly justifies the cost/detriment to the overall look and UX of the site. I'm not saying that we'll never do some kind of advertising to burn LEO off the market, but I think it's best to hold off for now. I'd like to do something like direct ad sales to targeted businesses on Steem and outside of Steem as well. This will be more profitable in terms of LEO burned off the market and it will allow us to have better control over the UX of the site.
8). Ad Spots on the Steemleo Show Podcast (coming soon?). The Steemleo podcast audience is growing steadily. 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.
9). BAT. We announced our Brave integration as a verified content creator a few weeks back. We were the first tribe to launch this initiative and I'm happy to report that we're getting some great BAT subscriptions and donations from the SteemLeo community. All this BAT will be used to buy LEO off the market and burn it. It hasn't been a full month since we launched this integration, but we will perform the burn each time there is a burn report. We received about 167 BAT this month, so we will be burning approximately 140 STEEM worth of LEO off the market (about 700-800 LEO at the current market price). The more traffic we get through the Brave browser, the more BAT we earn and the more LEO we burn! 🔥
10). Another Top Secret Burn!? I really love having stuff in the works and being able to say that we've got a top secret burn iniative that is yet to launch. Well, this month is no different. We've got something in the works and will hopefully get it up and running this week or next week. It will allow us to buy and burn LEO off the market at a solid rate while also supporting other tribes and LEO content creators. Stay tuned 🦁
The Amount of Staked LEO Is Over 90% of the Circulating Supply!
The amount of staked LEO is currently: 2,398,178.73 LEO.
That's 59.07% of the circulating supply if you factor in the sell wall.
Technically, the sell wall doesn't really count as those tokens will likely never see the light of day. So if you remove the 1.4M tokens still remaining in the wall (which will be completely burned in 7 months), then the actual staked number looks more like this:
2,398,178.73 LEO staked = 90.15% of the circulating supply (when excluding the Sell wall from the circulating supply). This is up about 2% from last months figure of ~88%.
Issued Versus Burned:
For those interested, this (green column) is a daily average of the total LEO tokens issued to users for the past month.
In the red column are the actual daily burns (transactions to @null each day).
To the right are the total stats both including the sell wall burn and excluding the sell wall burn. With the sell wall burn included, we offset inflation nearly 2 times over.
The Lions Are On the Hunt For More Ways to Spend & Burn LEO
There are limitless ideas out there and all it takes is the right execution. If you've got some ideas for ways to spend/burn LEO, then hit us up in discord and let's make them a reality!
We've also got a few Leo Syndicators on the team already but we're always looking to expand it. If you're interested in the position, then contact @khaleelkazi on discord for more details.
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