LEO&HODL Contest — Strategies on how to grow staked Leo tokens.

I was once a novice in the Leofinance community before and I laughed at myself when I always remember how it happened. I have run to meet @merit.ahama to enquire if I would need Leo tokens to be able to post in the community and she was kind of shocked because she has never heard of that.

I think the hardfork that happened on Hive then affected my inability to post through the frontend and in the end, I found out that we do not need to have Leo token to post.

Now, I know much better and for this contest, I will be explaining some things on Leofinance, most especially how to grow or earn more Leo tokens as a new lion joining the community.

Alright, let's start with talking about each question to understand and I promise you that this post won't be difficult to grasp because it's an easy and detailed one and in the end, you will finally be convinced to join the Leofinance community.

What is LEO token and its staking feature?

First of all, let's talk about the community first.....

Leofinance is a decentralized exchange and community that is built on Hive and it is more than a blogging platform. It is a community where you learn about crypto and finance.
Leofinance is a blockchain-based social media platform where users and creators engage and share content through the frontend while earning Leo tokens.

What is Leo token?

Once you are a content creator on Hive, and you make a post in the community (specifically posting through the frontend), you earn Leo tokens.

The Leo token is a utility token that is operated by the community and used to distribute newly minted LEO and can be traded for other cryptocurrencies. The token is built as a second layer protocol on top of the Hive Blockchain which allows the community to transact, trade and earn Leo.

Features of Leo tokens

• Free transactions

• Transfer of the token is instant and quick.

• Dynamic token issuance. This means the token rewards content creators, curators and commenters.

• Transactions are immutable which means all token data and balances are stored on the blockchain.

Leo staking features

Leo is operated on a proof of stake model. Just like when staking Hive which turns to Hive Power, users and creators can stake Leo into Leo Power. This means that when you earn Leo tokens, you have to stake them to enjoy the benefits which are;

• Giving users influence over the daily reward pools.

• When you upvote content, it allows you to distribute a certain amount of upvotes daily by supporting the authors.

• Both creators and curators share the reward 50/50 at the end of the post-payout.

How do LEO and LEO Miners work?

Leofinance has a system that kind of prints Leo tokens. Apart from the usual way of earning Leo tokens, users can also earn through mining. One can buy the miners in the Hive Engine Market through https://leodex.io

There are two tokens for this miner, which are; LEOM and LEOMM.

Mining Leo tokens should be considered a Long Term Investment. This can then be sold off in the market or can be staked which increases your resources on the network and gives you voting power when curating.
This is a way to earn Leo tokens apart for being active and engaging through the Leofinance frontend (https://Leofinance.io)

How to buy and stake LEOM and LEOMM for mining.

Note that to mine LEOMM, the token mines at 4× the power of LEOM.

Go to https://leodex.io, and log in with your Hive account.

Click tokens in the top menu

Search for LEOMM

Once you click on the blue circle, it will take you to the trading screen where you can trade using the Hive token

Next is to stake LEOM OR LEOMM by locating the token you have bought by clicking wallet to show your balance(s). You will then stake while it mines for you.

What are the effects of LEO tokens on Hive so far?

Since the Leo token is built as a second layer protocol on top of the Hive Blockchain, it helps users to focus on the growth of Hive. Many users like to track the trends and growth of the Leofinance community and the adoption of the Leo token. This makes them effective to blog on Hive through the Leofinance frontend.

What are your best strategies to increase the number of your LEO tokens?

I will be sharing my ways of growing Leo tokens and the best strategies so far.

Earning and Increasing Leo tokens through consistent posting: This is one way to grow or increase your Leo tokens by creating quality posts, either on crypto or finance. Once your post is published and you get upvotes, automatically you earn the token after seven days when the post pays out.

Through engaging on posts: Users who engage by commenting on posts in the community, most especially using the frontend earn Leo tokens when your comment is being upvoted.

Through curating: This is another simple way where you upvote content that seems good to you. By the end of the post payout, as a curator, you earn from the post too.

Through buying and staking: This is something I have been doing since I have been in the community. I buy Leo tokens with my Hive token in the Hive Engine Market and stake them. When I stake, it gives me voting power to support other users in the community.

Through delegation: You can earn Leo tokens when you delegate Leo to other users in the community. Also, you can delegate to leo.voter in Hive Power to earn Leo tokens.
(I delegated Hive Power to the account and I get daily Leo tokens apart from the aforementioned ways.)

Through mining: This has been explained above already.

The effect of being active to increase your Leo tokens is that it allows you to know more users and expand your network in the Leofinance community. By this, once you are being noticed and committed in the community, users can decide to delegate some Leo tokens to you and with this, you grow your account.

Strong and Weak sides of your LEO staking strategies

Perhaps I will say my strong side of staking my Leo tokens is my activeness in the community and also, participation in the LPUD challenge that comes up every month. My weak side is not having enough funds to buy more Leo tokens as I would love to have enough to support other users in the community.

Suggestions for LeoFinance team to advance the monetary side of LEO distribution/operations.

I believe the team are already working hard and doing their best to advance the distribution of Leo tokens and one of them is the LPUD challenge where people are being delegated tokens for a limited time to help support content and help them grow their tokens too. This is a way to encourage them.

^{I am inviting @fantagira @actordontee and @hopestylist to participate in this contest which can be found here}

Thanks for your time on my blog.