You might be confused about the title but I don't have any supernatural power. However, there is a place where you can have power in which you can share with others. Unfortunately, I was just so careless not to read the FAQ before exploring the place and interacting with other users. I thought it was like Publish0x or noise.cash that I can give tips to others while receiving a small portion for myself.
And again, you might be wondering what I am talking about here.
Have you heard about Leo? It's a boy name of the course and you might have a friend named Leo too. But I'm not referring to a man, I am talking about LeoFinance. And for sure, you have heard about it. But if not, then visit this link and take a look at it. https://leofinance.io/@jane1289.
Just four days ago, I was inspired to register on this platform as I saw something good while exploring the platform. And I thought it would help me diversify my crypto portfolio, so I gave it a try. There are options on how to register on LeoFinance, either you register using your Hive account, metamask, or Twitter. I thought those three were the only options so I registered on Hive first then connect it to LeoFinance.
Even registering on Hive was a struggle because it took me multiple tries before I successfully connect my HIVE account to LeoFinance. Maybe it was easier using a desktop, or maybe I was just doing the wrong way. Because some users like @Yen successfully registered in just one try via LeoFinance itself. Well, I did not really saw that option that's why I used Hive.
During my first exploration on the platform, I just did what I thought was right, I tried to get along with other users while exploring the feed, and reading articles. I saw my power was 100% so I gave some to others without thinking about the consequences of my actions. I commented and interacted with other users and upvoted their articles and replies. Just like what I have been doing on read.cash, noise.cash, and Publish0x.
The executive board even welcomed me and gave me some HIVE, small enough to start my journey.
Then two days ago, I have posted my introductory article and when I checked it just after a few hours, I saw it already gained multiple upvotes and tips and received welcome comments from other users.
Having $10+ tips in just one article and positive comments was motivating. And within that day I have received 7 badges in total, which was a good start.
Until the moment came that I cannot reply, comment, upvote, post articles, and follow other users anymore.
And that is when I found out that every upvote you give to others is a deduction to your own power, the LEO and HIVE Power. I have given all my powers in just one day and lost my opportunity to earn more power in my first 7 days of staying there.
Why am I even sharing this with you? In case you want to join LeoFinance, you should know what are the right things to do.
Let's stop beating round the bush and tackle about LeoFinance and its Powers.
LeoFinance is an online community centered around the topics of finance and crypto. Users can create blogs and even upload videos where content is stored on a decentralized blockchain which cannot be censored, unlike other platforms.
What kind of content can a user post on LeoFinance?
Users can write anything related to finance and cryptocurrencies. The contents are being curated by a team of curators and active community members watching the new posts feed for great content.
Here are some of the most common articles you can see on LeoFinance:
Hive and LeoFinance
Defi and Stock Market
Economics and Tokenomics
Research Reports on Stocks/Cryptocurrencies
Videos About Crypto and Equities
Crypto Podcasts and Financial Tutorials
In case you will ask, can you repost your read.cash article on LeoFinance?
Yes and No.
Yes because some users have able to repost their articles from read.cash. No, because some articles did not appear after they have been published which I guess the curators did not allow them to be reposted on LeoFinance.
This is just based on my observations as I have tried to repost some of my crypto-related articles from read.cash to LeoFinance. The articles did not appear on my blog section but @Laurenceee has able to repost some of his articles on LeoFinance. Curators might don't allow duplicate articles related to cryptocurrencies and they make sure that contents are originally posted on LeoFinance. Some non-crypto-related articles are allowed (like @Laurenceee reposts) and I guess it is just based on the curator's decision.
What can users earn in creating blog posts on LeoFinance?
Users of the platform can earn LEO tokens for uploading posts, commenting on other posts, and curating content. They can also stake their LEO tokens and the more LEO stake users have, the more power they can get on the platform.
What are LEO Tokens?
The LEO token is described to be an ERC20-bridge to the main chain token (LEO) on the Hive blockchain. It is a community-operated utility token used to distribute newly minted LEO, and allow users to trade, purchase digital products, and more all over the world.
LeoFinance currently operates four websites that leverage the LEO token and the Hive blockchain:
leofinance.io — a social media interface for content creators in the financial niche
hivestats.io – an application for tracking & analyzing Hive blockchain account statistics
leopedia.io – an open library to educate the world about crypto
Updated Version of LeoShop is Still Under Development (Migration from Steem to Hive) — a decentralized marketplace for digital products. More Info
I have mentioned HIVE above, how is it connected to LeoFinance?
HIVE is a decentralized blockchain network on which LeoFinance is built and what makes LeoFinance possible. HIVE is the base layer protocol of LeoFinance capable of handling fast, free, and trustless transactions similar to what the internet does to any website.
What is the LEO token price based on?
The LEO token operates on an open market and the price fluctuates at random. It is being traded by traders from all over the world at various prices. And the main purpose of LEO token adoption is to increase LeoFinance users, to promote the LeoShop marketplace, to leverage the LeoDex trading interface, and to utilize the increasing number of applications such as Hivestats and LeoPedia.
The latest trends and price of the LEO token can be tracked on the Leodex at http://dex.leofinance.io/market/LEO.
The account you have created on LeoFinance is the same as your account on LeoDex or Splinterlands (a Hive-based gaming application), etc. For more information about creating an account on LeoFinance, you can visit this link https://leopedia.io/onboard.
How to spend the cryptocurrencies you have earned on LeoFinance?
You can trade LEO on Leodex into the base fare of HIVE. Everything you do on LeoFinance can be translated into earning HIVE or anything that can be converted into HIVE. The HIVEs you've got can then be withdrawn onto exchanges like Bittrex and Binance and just convert them into your preferred cryptocurrencies like BCH, ETH, BTC, etc.
How does token reward works?
Every blog posted on LeoFinance is eligible for LEO rewards as well as HIVE rewards. The rewards came from the "rewards pool" that is currently up for grab for content created on the HIVE blockchain. The LEO and HIVE rewards operate on "Proof of Brain" that works similarly to the principle of "Proof of Work" on the Bitcoin blockchain. But on the HIVE blockchain, you are not using a computer to mine tokens, rather, you are using your "Brain" to create quality content that may lead to earning upvotes from other users.
Once you receive upvotes from other users, it signals to the blockchain and a certain user may think that the post deserves a reward from the rewards pool. These rules are applicable in earning both HIVE and LEO rewards.
So when you post on https://leofinance.io/, you are choosing to earn rewards from both HIVE and LEO rewards pool. And when other authors upvoted your post, you will receive both LEO and HIVE rewards from both token pools.
How much is an upvote worth?
HIVE AND LEO operate on the same principle as "Proof of Stake." The more stake you have, the more your upvote is worth. When you stake your tokens, that means your tokens are vested or "locked up" in your account.
The unstaking period of the LEO token is 28 days and 13 weeks for HIVE, to get 100% of your stake back. The stake for LEO is paid back in 1/4 chucks for 4 weeks, and the stake of HIVE is paid back in 1/13 chucks for 13 weeks.
You unstake 1000 LEO, which means you will receive 250 LEO weekly over 4 weeks.
If you unstake 1000 HIVE, then you will receive ~77 HIVE weekly for the next 13 weeks.
You have lost all your power, how to get LEO power and HIVE power?
This is what had happened to me as I spent all my power in just 1 day. So for those who want to register on LeoFinance, as per @Sajib advice, do not give upvotes higher than 25%. The LEO power can be recharged but if you used up all, it might take a longer period before you can recharge your LP. And to get more power in your first 7 days, it is advisable to post blogs related to cryptocurrencies and finance because most users and curators are upvoting those kinds of articles.
After 7 days, your earnings will appear on your wallet that can be converted to LEO power. So in my case, I need to wait 2 more days before I can convert my earnings to LEO power and start posting blogs again. But if you can't wait for 7 days, you can buy HIVE power on your HIVE account that can also be used in posting blogs on your LeoFinance account.
As I explore the two platforms, I have learned some things that are recommended to do during the first 7 days to gain more power, increase your ranking, and get a chance to have curator rewards. You can go to this link, enter your username, and check the "Tour" tab. https://hivebuzz.m. Or simply click the badge beside your profile photo on your HIVE account to check your rewards and your status.
The sets of activities are listed on there which you might want to perform to receive more achievement rewards.
For the new users of LeoFinance, have you seen that reputation score beside your profile photo?
The default reputation score for newbies is 25. Every upvote and comment on your post increases your reputation. If the user has more reputation score, the higher the effect. But if other users downvoted your posts, it will decrease your reputation score. Sometimes, the reputation score is the basis for other users to choose which article to read, because they know that if your reputation score is high, the effect of your power is high as well.
So here's a hint, some users with high reputations are upvoting comments, so you may want to comment on their posts to get a chance to increase your reputation too. Just like what I did on my first day. I commented on this post and the author has a 51 reputation score. I've got an upvote from him which increases my reputation score.
Some of the commenters on my first post have higher reputation scores as well, so in just one day, I've got a 45 reputation score.
Also, make sure that your posts and comments are not considered spam or plagiarized as it will have an impact on your reputation.
Take note: If your reputation goes down below 0, your comments and posts will be hidden and it will be too difficult for you to gain monetary rewards and followers.
To know more about HIVE FAQs, you can visit this link: https://hive.blog/faq.html.
And for more LEO FAQs, visit this link: https://leopedia.io/faq/
If you want to follow me on LeoFinance, just visit this link: https://leofinance.io/@jane1289
Thanks for reading @Jane