LEO burning has seen a pretty significant increase in the past month. This increase is due to a few factors, namely: increased traffic to the site which has resulted in a doubling of the ad revenue generated each day. The addition of a new sink - LeoDex token listings and BAT rewards at an all-time high.
In total, we've burned 1,144,486.60 LEO tokens (22.54% of the total supply).
This month, we've burned 215,591.41 LEO tokens (5.48% 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 a 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). Classified. I always like to have something cool in the works for each burn report. Last month I teased the LeoDex which is now in full operation. This month, I've got something else to tease you with. For now, I'll leave you with this hint: Buyers & Sellers.
Amount of Staked LEO Is 91% of the Circulating Supply:
Last month, the amount of staked LEO was 2,502,675.88.
This month, the amount of staked LEO is 2,667,947.14. An increase of 165,271.26 LEO or 6.6% (note: the increase in the LEO staking rate this month compared to last month is 50% higher -- last month's staked increase was slightly above 100k).
That's 67.83% of the circulating supply if you factor in the sell wall. (last month, this number was 62.93%. 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 1M tokens still remaining in the wall (which will be completely burned in 5 months), then the actual staked number looks more like this:
** 2,667,947.14 LEO staked = 90.96% of the circulating supply** (when excluding the the sell wall)
This means that only 9% of the LEO supply is actually liquid and "available" for the market. This is likely one of the major factors contributing to a stable/steadily rising LEO price. I have actually seen a few "complaints" in discord that people are putting in bids for LEO on the market and waiting weeks to get filled.
LEO Price & Buy Walls
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