What is the LEO Token Economy?
At the Center of the LeoFinance Web3 Ecosystem is the LEO Token Economy
LEO is our native token which lives as a second-layer economy on the Hive blockchain. Hive is a unique blockchain in that it offers fast, free, scalable and flexible transactions. Our project processes tens of thousands of operations on the blockchain every single day.
If you're familiar with blockchains like Ethereum or Bitcoin, then you'll know that processing tens of thousands of operations is extremely expensive and essentially impossible with the technology that currently exists.
Some of the core features of the LEO token are:
- Free Transactions
- Fast Transactions
- Dynamic Token Issuance (Rewarding Content Creators, Curators and Commenters)
- Immutable Transactions (all token data & balances are stored on a decentralized, public blockchain)
Learn More About Our Native Token and the Blockchain Technology It's Built On:
Our project requires free transactions in order to operate. Our apps - especially social ones such as LeoFinance.io - are built with social blockchain features. Users are able to post content, comments, upvotes, wallet operations, etc. all from our app. A typical active user of our project might process 100+ operations per day without ever leaving the LeoFinance.io interface.
The Hive blockchain offers us the ability to process all of our transactions directly on a blockchain with essentially 0 running costs. We're able to do this by utilizing the resource credit ecosystem on the Hive blockchain. In exchange for our project holding a large amount of the HIVE token, we're able to access a rechargeable pool of resource credits. As our project scales, we have a growing need for these credits and thus an ongoing desire to acquire more stake in the native HIVE token.
For a social project on the blockchain, having instantaneous transactions is just as important as having free transactions. When was the last time you used a Web2 platform like Twitter and waited 5 minutes for a confirmation of your post being published or a like being distributed?
LeoFinance leverages the 3 second block times of the Hive blockchain in order to conduct tens of thousands of blockchain-based operations on a daily basis. This includes:
- Token transfers
- Wallet operations
- Upvote distribution ("likes" on content)
- Content published on the blockchain
- Comments published on the blockchain
The LEO token economy is unlike any other tokenized economy in the industry. The initial distribution of LEO started as a simple ecosystem for distributing tokens to users who created and curated content. Since our launch, we have introduced new ways to earn and distribute tokens which have created one of the most dynamic ecosystems in the space.
Users, token holders and readers can earn LEO by: