Understanding LeoFinance Miners - LEO Tokens LEOM, LEOMM

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(Edited)

If you've been with crypto for a while you know one way to earn some cryptos is through mining. This is taking your CPU, GPU or Asic hardware and having it make calculations to secure blocks which include transactions on the chain.

LeoFinance has a system kind of like this that prints LEO tokens. However instead of using your own hardware you instead buy the miners off of the Hive-Engine market. https://leodex.io/

The Tokens for these miners are
LEOM
LEOMM

LEOMM process LEO at 4x the rate as a LEOM

Miners should be considered a LONG TERM investment. If you believe in the project these will continue to produce LEO tokens for you over time. If you believe the price of miners and the LEO token itself will go up these could be good options to buy.

Think of them as money printers
moneyprinter.jpg

Instead of printing $ they print LEO tokens. These can either be sold on the market or staked which increases your resources on the network and gives you voting power for curation. A way to earn even more LEO tokens for being active and engaging on https://LeoFinance.io

leoline.png

How To Buy And Stake LEOM and LEOMM

  1. Visit https://leodex.io/ and login with your HIVE account
  2. Click Tokens in the top menu
  3. In the search bar type in leo
    leomdex.jpg
  4. Click on the double arrow to the right of LEOM or LEOMM
    (remember that LEOMM mines at 4x the power of LEOM)
  5. This will take you to the trading screen where you can trade your HIVE tokens into LEOM or LEOMM

Once You Have A Miner or Miners You Need To Stake Them

  1. Click Wallet in the top menu
  2. This is your full list of all of your tokens on the HIVE blockchain
  3. Locate your newly bought LEOM or LEOMM and click on the lock symbol
  • In the screenshot this shows unlock as all of mine are currently staked but yours will be a closed lock
    leodexstake.jpg
    4 ) On the popup it will display your balance and ask you the amount type in the full amount as your balance and click on the big Stake button below.

That's it!

If your miners end up mining LEO they will show up within your account. Not all miners will produce tokens each day and the more you have the more you could be printing. As of writing this tokens earned take one day to show up when the system calculates and displays tokens within the Hive Engine site.

Posted Using LeoFinance Beta

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32 comments
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Nice guide :)

I prefer doing it on https://leodex.io 😉

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Can you buy the LEOM and LEOMM from Leodex.io ? I didn't think you could.

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LeoDex.io is a UI for Hive-Engine ( a much better one IMO). You can trade any token on hive engine through it by clicking on the token drop down. It defaults to LEO, just click on the box and search/filter for the token you want

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Oh sweet didn't know that! I thought it was it's own thing.
Let me pull some new screenshots here within the hour and I'll edit the post to reference https://leodex.io/

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Thanks a lot for this explanation.

I've been thinking about what LEOM and LEOMM have been several times. Now I've learned what they are for and how they should be used.

Thanks you so much.

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LeoFinance provides us with several forms of earnings. Just look at the best alternative for our strategy.

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Thanks for the great article.

I purchased 1 Leo Miner to try it all out as I was still confused but your post today has very much helped and because of that I will likely Invest in more miners soon.

thanks again for the fantastic article.

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Awesome! Make sure you staked it if you haven't already. Glad I could help out

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Great post,

People have no idea if miners tokens are profitable are not. They do no not think to convert the HIVE price on the exchange into LEO. This is the easiest way to know if miners to priced high are low.

eg, 1 MINER produces an APR of 40-50% in terms of LEO if bought for 3 LEO. 3 LEO is my buying price for miners, it will take 2-2.5 years to get back investment. So, if the miner token is for sale on the exchange for 15 HIVE and LEO is 3 HIVE, then the miner is overpriced as it will cost the same as 5 LEO.

Anyways, that's how I work out of it a good are bad buy at the time. Remove HIVE and price you buy in LEO, makes way easier to work out ROI as rewards are LEO and sort of consistent over long periods of time.

My 2 cents

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Good stuff, I also came up with about 2 or 2.5 years. But also if the token becomes more valuable you can calculate that in. Another thing that speeds it up to faster than 2 or 2.5 years is that LEO that was just mined if you stake it and curate you now earning on top of that.

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I am thinking of buying them . Right now it might seem pricey but when LEO reaches 5$ ( I believe it will ) even if I get LEO from Miners once in 10 days I would be happy .

Also you could have mentioned that 30 miners is randomly picked per hour to distribute the LEO .

I currently hold only STEMM . Will be nice to add LEOM to it.

!WINE

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I hope that new users can understand this LEO ecosystem more and your post is a great alternative to that. Congratulations for your work.

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Thanks! Looking to educate people so they stick around longer and invest as well as helping onboard new investors

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Thanks for the explanation. I actually enquired about the miners on the discord room some days ago.

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Hope this has answered your question if not feel to ask again in Discord there's a lot of great people on there.

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Well written. Have a q tho, when renting a miner do you actually rent a hardware or a software? If doing so, does it increase decentralization?

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I wrote a bot that calculates the break-even period of Hive Engine miners.

User: @brofund
Miners: 13110.295

            mining
date
2021-01-07      51
2021-01-08      52
2021-01-09      51
2021-01-10      49
2021-01-11      51
2021-01-12      45
2021-01-13      43

Mines/day (Mean):  48.86
Mines/day (Median):  51.0
LEO price:  3.63012002
LEOM price:  18.4
Mine Value:  1.061  LEO
Hive/day  188.19
Break-Even  3.51  years

@brofund holds 13,000 miners, so it is a good account to test from.

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This all makes sense. But what doesn't make sense to me is why LEOMM is 10x as expensive on the Hive Engine as LEOM. It just seems very strange!

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I bought mine in the beginning and they have long since paid for themselves... especially in Hive and dollar terms.

As with anything that is working out, I wish I had bought more

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