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LEOFINANCE: Short Introduction For Beginners + My Leofinance Goals
Cover Image: Logo owned by Leofinance - Edit by @libertycrypto27- Font used is Open Source</sub></center>
Over the last few months many new users have arrived on the Hive blockchain and many via Splinterlands which is now Hive's best known project.
I'm always ready to help those who are in difficulty and especially to help new users who may have some difficulties to take their first steps on Hive.
For example a few days ago @stewie.wieno contacted me on discord and asked me many questions about Hive and Hive projects including the following questions:
English translation: I saw that you also write about leofinance and the last post about a step app that pays you in crypto. Do you use that? And do you use leofinance?
English translation: How does Ecency differ from peakd, leofinance, etc? Because I don't really understand this, does each Wallet Hive have a blog on each of these platforms?
Indeed, someone who creates an account on the Hive blockchain via Splinterlands, PeakD or Ecency might initially think that their Splinterlands gaming activity or Peakd publishing activity is visible or stored on Splinterlands servers or Peakd servers especially if they have only had centralised experiences.
This is not the case.
All transactions made on Splinterlands are recorded on the Hive blockchain.
All posts written and published using the PeakD editor or Ecency editor are registered on the Hive blockchain.
Hive's blockchain is a DPOS blockchain and all transactions recorded on it are transparent and immutable and for this reason are visible and searchable by anyone and therefore also by multiple Dapps at the same time.
A possible metaphor could be:
the Dapps in the Hive ecosystem are like windows of a large building that all look out onto the same garden (Hive).
So, for example, the Wallet section of Peakd, Ecency or Leofinance is nothing more than a graphically different display of information about the assets held by a Hive account, information which is recorded on the Hive blockchain and which, I repeat, is accessible by anyone.
I have tried to be as clear as possible but if I have not succeeded in my intent I invite @stewie.wieno or anyone reading this post to ask me further questions in the comments of this post and I will try to answer them (if I know the answers ;).
Hive is therefore a great ecosystem of projects, sites and communities.
The difference is that on https://hive.blog/ the value of the post reward is displayed in $ (more precisely in $HTU) while on https://leofinance.io/ the value of the post reward is displayed in LEO tokens.
The split of the reward between author and editor is 50%/50%.
What does that mean?
If I have 1000 staked LEO tokens = 1000 LEO Power my vote is worth about 0.1 LEO.
Every time I vote for a post at 100% (with 100% LEO Power) I will earn 0.05 LEO tokens (curator reward) and give 0.05 LEO tokens to the author of the post I voted for.
The rewards are credited to the curator and author 7 days after the post is published.
After this brief introduction about the Leofinance community and its projects I want to share the goals I have set for myself within the Leofinance community: goals related to LEO tokens, CUB tokens and other projects related in some way to LEO tokens.
Leo Backed Investment is a project created by the @spinvest account.
Project communications and progress are posted by the @lbi-token account.
I bought 70 LBI tokens which are second level Hive tokens that guarantee me a weekly payment in LEO tokens.
Payments started on 31 July and so far I have received a total of 13 payments and a total of 3,845 LEO tokens.
Today 29 October 2021 the value of 1 LBI token is 0.301 SWAP.HIVE = $0.24
While the value of 1 LEO token is $0.289.
When I invested in LBI tokens an LBI token was worth more than a LEO token so I am at a slight loss but the LBI project is a long term project so I continue to believe in this project and in the future I may strengthen my position by buying more LBI tokens.
A few months ago, LEO tokens were worth more than HIVE tokens, but today the situation is reversed:
HIVE value: $0.777
LEO value: $0.289.
Even though the LEO tokens have lost value compared to the past I continue to accumulate them and convert them into LEO Power because I see a lot of potential in the LEO token and the Leofinance community but above all I have trust in the capabilities of the Leofinance community development team.
Will I be able to achieve the goal I set for myself by 31 December 2021?
I am satisfied with the results I have achieved this month which are by far the best results I have achieved to date.
In October I increased my LEO Power by 231.56 units and in November I will be working to get even closer to my target of 1500 LEO Power.
My intention for the month of November is to continue to publish content using the front-end of leofinance.io but above all I will try to interact more with other authors and users in the community because interaction in the Hive ecosystem is really important.
I hope you liked my post and thank you for the time you dedicated to me.