Authored by @silverstackeruk

Hello, LBIer's. Earlier this week we got the results of a recent governance vote to decide of LBI should hard cap its tokens supply or not. The results came on with the result, YES to hard capping the LBI token so now we start the process.

You can see the Vote results post here. 51 out of an eligible 176 voted. 89 Yes/44 No

Hard capping makes sense as only a few hundred new tokens are being issued directly every week, a few hundred might sound like a lot but a few hundred into a quarter-million is a fraction of a percentage and there is much more activity on the hive engine and LeoDEX exchanges were the LBI tokens can be bought at a cheaper price sometimes due to people wanting quick sells. The LBI token is being hard-capped, that does not mean new investors are locked out, its just means they buy LBI from the exchanges. It's what most people have been doing the past 2 months already as they can be bought cheaper sometimes. I am sure if someone put in a 5000 LBI buy order for whatever 1.2 LEO is worth in HIVE, that order would get filled within 72 hours.

So, a YES vote has been passed. There are few ways we can go about this and I feel it's my responsibility to think of an easy to understand and fair way to complete the task at hand for the LBI token holders. From my experience with hard capping SPinvest and all the thousands of hours, I've spent thinking, playing out scenarios in my head and sharing at numbers on excel sheets, I think I can do just that.

LBI issued and circulating - 220,974

If LBI were to hard cap today, this would change to

• 276,217 Hardcap
• 220,947 circulating

20% of LBI tokens are reserved for the LBI content team to be issued as LBI hits certain price targets. These range from the lowest of 1.20 LEO to the highest of 5 LEO per LBI token. This ensures rewards are only issued when the fund performs well. For the full 276,217 to be in circulation, LBI tokens need to be worth 5 LEO each.

LBI Hardcapping procedure (4 weeks)

We cant just cold turkey and stopping issuing tokens as there are still a few users buying tokens every day and others that might want a few weeks to save up and buy a last batch directly from @lbi-token. We will set the date to hardcap in 4 weeks from today on the 7th of May giving people time if required.

• Hardcap will take place on the 7th May
• LBI token price will remain at a direct issuing price of 1.20 LEO until hardcap
• On the 7th, the hardcap is created and all remaining tokens are burned
• From the 8th onwards, the LBI price will be updated daily to the LBI discord server

Here's an easy way to work out the hardcap. Take the circulating amount, divide it by 4 and then multiply that by 5.

On the exchange, it says LBI has 250,000 issued tokens which is correct but only 220,947 are issued to investors, the 19,053 are stock to be sold. To find out the current circulating supply, visit https://he.dtools.dev/richlist/LBI and remove the amount held by @lbi-token from 250,000.

After the Hardcapping

We will have a set number of LBI's that can never increase, the token price will be updated and posted daily instead of weekly as is now and transactions will take place on exchanges.

For LBI, hard capping its token is levelling up and could be viewed as ending the ICO. We're definitely funded and it's time to put these funds to work. We can start to explore earning out of content and curation and maybe launching a small subsidiary project/service and start to build LBI out to increase weekly earnings on the chain. The focus will still be on increasing our LEO power balance and keeping investments with into LeoFinanace ecosystem. LBI is still growing and if even we are in a bullrun year, our plan to increase LEO stake and ride through whatever the market throws at us for the next 4-5 years. I am still increasing our bLEO/BNB position to the tune of $1000 for a week so god knows what that will be worth in 6-9 months from now never mind in 5 years. Blank is still to come and LEO GOV tokens are still a big interest of mine.

The great thing about LeoFinance is we'll end up with all these different investments under the same roof. LeoFinance for producing content and curating. CUB finance for off-platform investing, Blank for a subproject, GOV tokens for running witnesses on the LEO sidechain. There's hardly any reason to go out of the ecosystem when you think about it.

I think that about everything, i hope this plan is ok with everyone and you are happy will the procedure. So, 4 weeks from today we will get a final hardcap number.

Thank you for taking the time to read this post today.

Posted Using LeoFinance ^Beta