This week in the Liotes News:
A project run by @ph1102 and @achim03
▶️ 3Speak
At the moment there are 70 LEN tokens in the prize pot for the Liotes Power Challenge.
Thanks for the update. Sale of len to buy lenm is good for the project.
I also plan to do that.
!ALIVE
!PIZZA
!LOLZ
@liotes! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ imfarhad. (1/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
When you've been in crypto for awhile, you become numb to price fluctuations! 😁
Thanks for the update. Keep going Liotes project!
It's still in a good condition imo
!ALIVE
@liotes! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ cursephantom. (2/30)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
Do you carry any type of backing to LEN tokens? A backed token has less price fluctuation than without any backing.
We do have buybacks when we are paying out LEN dividends to HP delegators (no additional LEN tokens are minted for that), we have a buyback and burn program too, so plenty of things going back into the project supporting the LEN token... ;)
Whales selling is just helping in better future distributions of tokens... ;)
That's good thing to know. What is the backing token of LEN and when you buyback what price do you offer?
We are following our dieselpool and buying LEN tokens when we need to pay dividends... If we don't have enough tokens, we buy through the pool, which pushes the price up, if we have enough, we create a buy order a bit lower than the buy price in the pool...
All LENM token sales are powered up and HP is creating curation rewards that are one of the tokens that are backing up LEN... Other are our earnings from our Hive witness, Hive-Engine witness node, earnings from posts, dividends from different H-E tokens where we invested, etc.
If the price of LEN tokens goes down, we burn more... If it goes up, we burn as much as we get/buy back... You can follow our Monday posts and compare numbers from the past with present data... ;)
I hope I answered your questions... Cheers!
That's the detailed answer I liked to see, now I have more insight into LIOTES mission's LEN token and how it is backed in a very intelligent way.
Thanks bro.
The project buys back LEN tokens every single week and the backing behind the project has a lot of factors. I would have to say that the HP in the liotes voter is one of the biggest tokens backing up LEN tokens.
It's ok. Things happen and I think the project is still going strong. Thanks for the update.
Thanks for the update! I sort of figured out myself after doing some checks on my own. Haha!
