Steemleo 🔥 BURN Report #4 🔥— Approaching 1 MILLION LEO Burned!

in burnreport •  2 months ago 

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It's that time of the month! Here's our 4th LEO Burn Report!

In total, we've burned 928,895.19 LEO tokens (18.92% of the total supply).

This month, we've burned 203,174.32 LEO tokens (4.14% of the total supply).

Note: We're still waiting on the first Coinzilla ad payout, so that burn hasn't happened yet and those tokens aren't included in this month's report. In the next few days, we'll put out a post/video about that burn specifically. This month's BAT burn will also happen at that time.

LEO Sinks:

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. If you want to see a more detailed breakdown of how much LEO is burned through our various sinks, check out our latest in-depth burn statistics report on the @leo.stats account.

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. In case you missed it, we partnered with Coinzilla to display their ads on the SteemLeo interface. This happened just shy of 1 month ago and our first ad burn from this sink will be north of 2,500 LEO. Since it wasn't a full month of payouts from ads, we expect to see this number a lot higher by the time next month's burn report is released.

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. We'll have more specific details of this available in the next @leo.stats burn report.

9). Classified. I've been cultivating this top secret sink since last month. The sink will arrive in less than a week and I'm excited for it. For now, I'll leave you with this hint: Listing Fee.

Amount of Staked LEO Is Over 90% of the Circulating Supply:

Last month, the amount of staked LEO was 2,398,178.73.

This month, the amount of staked LEO is 2,502,675.88. An increase of 104,497.15 LEO or 4.36%.

That's 62.93% of the circulating supply if you factor in the sell wall. (last month, this number was 59.07%. So we've seen a solid jump in the amount of staked LEO versus circulating).

Technically, the sell wall doesn't really count as those tokens will likely never see the light of day. So if you remove the 1.2M tokens still remaining in the wall (which will be completely burned in 6 months), then the actual staked number looks more like this:

2,502,675.88 LEO staked = 90.12% of the circulating supply (when excluding the the sell wall)

 
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all of our LEO author/curation rewards on this post are permanently burned from the token supply


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Have you checked out the other crypto ad networks

Could be worth signing up for a few more and having them compete against one another and allow the highest bidder to win the impression and drive more value on the steem leo real estate

Also more money means more to burn! 😬😬😬 better keep staking my leo at this rate they’re going to be in short supply

I need to use this for https://SteemSanDiego.com because i just paid for the ads package from aggroed but i want to do what you did because I dont want to make my users see ads unless its worth it,but do the ds not show up if your logged in?

Well that would be an internal code they would have to install to fire your DFP tags only when users are not logged in if that’s what you want

It shouldn’t be too hard add that bit of script

90% locked up? It is going to get very difficult to buy in quantity moving forward.

The burn is one of the reasons to love Steemleo.

hey lets get the burning of LEO done via smart contract, lets ask @harpagon and @holger32 qabout this! if u check steem-engine.rocks theres a place for 'contracts' theers only a few for now, like steemp to steem and such, we could have a steem leo auto burn contract maybe :D

LIKE SOV! and then steem leo can be deflationary

OR we do EOS-EX list leo on newdex get leo EOS to become liek SOV deflationary with tx fee, and boom we have a rodmap to 41 LEO

This goes BEYOND our lil steem world

leo can beon eos AND get a mobile app

@challengedac guys will help us get our SteemLeo app on android ad iOS they said theyd help others get eos apps on app stores etc. WE CAN have this

$1 leo is NOt a pipe dream

And hey man anyway you could write an article for my SAND token to attract san diego users? I need to find as many as i can hope to see on steem... and theres probably only a few but I have 2000+ INCV to create accounts to onboard people!

@tipu curate

These burn reports give me such a hard on! Keep on burning baby! I will keep on buying and staking in return <3

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This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.

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That is so much money burned. I believe it will definitely help grow leo.