What happens to Liotes author rewards?

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▶️ Watch on 3Speak

There was a question that came up many times recently. People were wondering what was happening with the author rewards that were generated through the Liotes posts.

We have postponed answering this question because we were working on a kind of financial machine. We believe that we have found a great way to use these author rewards...

When you upvote Liotes posts you burn LEN tokens!

The thing that we have built is quite complex but the amazing thing is that you can actively contribute to the token economy thanks to it.

Whenever you upvote Liotes posts you will do a lot of things at once, you will increase the voting power of the @liotes.voter account and increase the upvotes given to the community. At the same time you will grow the amount of LEN tokens that are burnt every day, thereby helping to increase the value of the LEN token!

If you want to understand the detail of how it works, you should watch the video ;-)

Liotes

A project run by @ph1102 and @achim03

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▶️ 3Speak

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Congratulations @liotes! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You published more than 20 posts.
Your next target is to reach 30 posts.

You can view your badges on your board and compare yourself to others in the Ranking
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This is so great! By just upvoting and raising awareness, a community member can support all the branches of the project at the same time. Brilliant 😌

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Thanks a lot for your feed-back. We think it's quite a nice little machine that allows everybody to participate in developing the project and the token value :-)

!ENGAGE 20

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

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Great , once the shop is released we will see the real value of LEN but right now it seems like a good opportunity to buy some .

Posted Using LeoFinance Beta

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Exactly, the value of LEN has yet to be found and with the shop we will have more clarity about it. Thanks for stopping by!

!ENGAGE 20

Posted Using LeoFinance Beta

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

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I really like the vision of Liotes & the foundation you are both building with this....the staking, distributing to the voter AND burning really seem to work together flawlessly to create that win-win situation...

Once again, this shows another reason WHY @liotes will be around for a long time to come. The thought & care you put into this project really shows. Anyone who becomes a part of this community will thrive as we all put a little skin into the game as well as grow in our content (not to mention the upcoming adventures & missions)...

Thanks for all you guys do! Keep rocking it :) 💜😍

Posted Using LeoFinance Beta

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Thanks a lot for your kind words! I believe that a community working together is so much stronger than plenty of indiviudals all working for themselves. By helping each other, we actually help ourselves in the long term. If we help other build their stakes, these will be stakes that will vote on our own posts in the future and we will all win in the process :-)

!ENGAGE 20

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This is a great idea.
Giving back to the community.
Increasing the power of @liotes.voter with each upvote will help the whole community.
Best of luck to everyone.

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Thanks a lot for your feed-back. It's an indirect way to keep all the value within the community so that it profits everybody.

!ENGAGE 20

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I'm glad you guys are figuring these things out. It just makes my head spin.

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Sorry about the head spinning :-). We are trying to optimize the income sources to add a maximum amount of value to the token and also to the community. Sometimes it gets a bit complicated ;-)

!ENGAGE 20

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That is exactly why I am glad you guys are the ones doing all of these calculations. I wouldn't even know where to begin.

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

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Thanks for the clarification on the post rewards. I understand that the HIVE/HP is used to pay dividends and burn tokens, but what happens to the HE tokens? I understand that you delegate it to the voter account but is all of it staked back to the account or is part of it sold to buy back LEN tokens?

Posted Using LeoFinance Beta

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Thanks a lot for your comment. I didn't want to confuse people too much with this post so I kept the HE tokens out of it. We generate curation rewards with the liotes.voter account in Hive but also in HE tokens. For the tokens that we have a special account like LEO, CTP, Vibes, we will send these tokens to these accounts were they upvote only the posts with the specific tags. All the other HE tokens are for the moment staked on liotes.voter. We use a vote weight multiplier for them to maximize curation rewards. Our objective will be to continue to grow these stakes and then gradually use a part of the curation rewards to buy back LEN tokens.

!ENGAGE 20

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Very cool. It seems like you have put a lot of thought into this so that is very nice versus just doing something on a whim. Thanks for being so detail oriented. I look forward to increasing the value of my LEN tokens!

Posted Using LeoFinance Beta

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Thanks for the feed-back. We are both very meticoulous people and we spend a lot of time fine tuning the whole machine :-)

!ENGAGE 20

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What a fantastic idea!

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We are trying to find the "perfect recipe"... :) I know that it's impossible to find the ideal, but it's good to be close to that :)

!ENGAGE 10

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

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