This week in the Liotes News:
- 90'000 LEN tokens have been burnt!
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Liotes
A project run by @ph1102 and @achim03
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90'000 LEN tokens burnt!
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Thanks for the update. I'm just converting 50% of LENs to LENM other 50% goes to the SH community. That's my procedure :)
Thank you for spreading the word about Liotes and distributing tokens to others!!!
We appreciate it!!!
Even though I know it is most likely good to be burning tokens, I still feel a bit of uneasiness at "money" being literally burnt away. :)
A lot of people have difficulties to grasp the usefulness of burning tokens. A token should be looked at like a product. If a product is inundating the market, the price will go down. It's the same with tokens. The more tokens out there, the lower the price will go. That's the big problem of most tokens. With liotes we counter this by burning a part of the supply and try to keep the supply in accord with the demand of the token. It only means that all the remaining tokens will take on value when we burn LEN.
My LEN tokens (of which I have only a small amount) just got more valuable! 🤑
By burning LEN, we give value to all the remaining LEN tokens in circulation and we also increase the APR for staking LENM. This should encourage people to buy more LENM, which means more money in the liotes.fund, more in liotes.voter and better curation ;-)
@liotes! @ironshield likes your content! so I just sent 1 BBH to your account on behalf of @ironshield. (4/100)
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