Leo Power Up day - May 2024

The 15th of every month is celebrated as Leo Power Up Day on Hive. This is the day when many Hive people stake their LEO tokens showing their support. Today I was able to to stake 368 LEO tokens on the occasion of LPUD. Leofinance now called InLeo is one of the projects that have been on Hive for several years. There have been many changes around the project and many experiments both good and bad but the good thing is that the project is still there and is continuing to be very strong.

I used to have a goal last year to have 100k Hive power and after accomplishing that goal, I wanted to focus on my LEO power goals to reach 15k LEO power. I was very close to reaching that and then I started staking LEO on my other account. I'm still a very strong staker of LEO tokens but instead of doing that on my @bala-leo account, I have been doing this on my primary account for the past few months because it is helping my delegation reward score if I'm not wrong.

I would like to continue staking my LEO tokens as long as the value is decent. The value of LEO tokens has reduced a little bit in the last few years. The value of Hive has dropped and that has in turn reduced the value of many Hive Engine tokens that are dependent on the Hive price as they are on the second layer.

One of the biggest achievements of the InLeo team in the last few months is creating a bridge with the Layer 1 tokens with the help of Maya protocol. This is a big thing for Hive and hopefully, many people should try to understand this and use it regularly if they want to swap with a Layer 1 token or some native coins directly. I'm hoping they continue to maintain this and make it more user-friendly or increase adoption. I don't want to see this project launched and left out in the dark. I say this because the InLeo team has a track record of doing this. I have some concerns about how they come up with new ideas but they leave them orphan. They spend a lot of money on new ideas but they don't sustain or maintain that.

I still see InLeo having great potential and hopefully they can come up with some stability and increase the value of LEO tokens so that the token value becomes a lot more stable. I personally always think that there should be more burning happening or projects that have Sinks but others have a different opinion saying that sinks should be in the form of adoption and not in the form of just burning the tokens. Let's see what sustains in the long run. The value of the token will keep falling if there is more supply than demand. There should be more use cases for the tokens and there can be better ways to utilize the tokens. Let's see what the future brings to us from the InLeo team or Leofinance team.

Note: If you have staked LEO tokens and if you would like to support manual curation, the LEO tokens can be delegated to the @india-leo account. All the delegators receive more than 100% delegation rewards and also get the opportunity to support manual curation efforts.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Posted Using InLeo Alpha

Posted Using InLeo Alpha