Authored by @silverstackeruk
Hello LBIer's, today we're going to look into something that I think everyone should be aware of. It's something that is in the LeoBacked Investments Explained...5a post but I understand not everyone has seen this post and to be honest, it's a little dry and hard to digest in one sitting. We're basically looking into LBI's token distribution plan.
Total LBI's issued at the time of writing - 153,742
Total powered up LEO - 154,195
So, right now there are 153,742 tokens issued but that is not factoring in the content team rewards that are 20% and not yet minted. This means if LBI stopped issuing tokens right now, the hard cap would be 192,177. The circulating supply would still be 153,742 and only increase as targets are hit and rewarded tokens are minted. Below is a copy/paste from the LBI explained post.
5 - Performance-related incentives
a. Content team
- LeoBacked Investments content team as the main driver of income and growth in the starting stages will be rewarded on a token price-performance incentive
- 20% of LBI tokens will be reserved for the content team
- To unlock all 20%, 6 LBI price targets must be hit
- This ensures LBI provides a profit for token holders before rewards are issued
- When all 6 targets are achieved, LBI will not be as dependent on content earnings
- If targets are not achieved, LBI tokens are not released and remain unminted.
As it states the 20% will be released in stages to the content team when price targets are hit. This ensures that LBI token holders have already made a profit and the content team are motivated to stay with us, people have a tendency of burning out and quitting.
Please dont underestimate how important the content team is to LBI, I know from personal experience from SPI that content is king. Daily posts keep people interested and we engage with more people, collect more feedback and get a better feel for what token holders like and dont like. I would say 90% of SPI's ventures have come off the back of me starring at the screen trying to think of content to write for that day. For me, my go-to post is thinking up some idea/ side project and then posting that. If the feedback is good, we go with it. I might also remember someone asked me a question about something in the comments of another post and i'll turn that into a post. My thinking is if 1-2 people are asking about it, then answering it by post might help 50 others that are not asking. Im gonna go off subject here but let me show you how the idea for LBI came about.
LBI's origin story
I know @taskmaster4450le will not mind me sharing this.
I go on to say i think i have my content for SPinvest for that day and few hours later, i uploaded this post.
@spinvest/leo-backed-investment-tokens-maybe
And that's the story of how LPI LBI was thought up. If taskmaster never wrote these 4 words "we can do more", LBI would not exist.
And if SPinvest never had a content team, that post might never have gone out and I would not be writing this post today, nor would the lbi-token account be a top 10 staked account. Even if I was lazy that day and decided to write and easier post, who knows.
Point is the content team for LBI will provide more than just content. I am very prone to having idea's and sharing them for feedback. Some of these ideas will be complete woeful but some will be gems and will help us to increase our LEO earnings in one way for another. LeoLease, cough cough. The content team will also be interacting in the comments by answering everyone's questions, we dont post and think job done. It's almost a service provided.
And of course the LEO and HIVE we'll earn from post payouts.
Roundup
Like I said at the start, I am sure not a lot of people have read through the LeoBacked Investments Explained...5a post word for word and I thought this was important to share. It's better explaining it now so when the time comes, we have this to refer back to.
Friday Fun
Has anyone heard of this guy? @trumpman. He called us a PENIS. LBI will pay 1 LBI token to every person that comments in his future post with a penis pic. Double tokens if its your penis (if you have one).
Please do not post penis pictures in @trumpman's posts, we're having fun....i think
I responded in kind as you can see.
Your move Mr Trumpman!!