Do you carry any type of backing to LEN tokens? A backed token has less price fluctuation than without any backing.
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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.