Hello, LBIer's. SSUK here for a rare post. There's been a suggestion made that @jk6276 take over as lead operator for LBI and I think I should share my thoughts and let you guys know where I stand.
Before we get started and to make you aware, I am still tracking all of LBI holdings in the weekly report, just not uploading out. At the very bottom of this post are the most up-to-date reports/charts.
My thoughts on LBI under new management
Im all for it. I've been working with JK for over 4 years with SPI and he just delivers each week and is very consistent. He understands the LEO ecosystem better than I do no question and is 100% capable.
I think he'll need some guidance in the beginning as he'll be switching from a growth-focused token to an income-focused token. It's easy to earn 30% APY with $1000 worth of some HE token but if the value of that token drops 50%, your investment of $1000 is worth $500 and your 30% APY is worth half. Im happy to work with JK during any handover period and get him set up with basic things like tracking sheets, automation and models for team and LP provider rewards. We'll make any handover seamless.
I have yet to see any sort of master plan or roadmap because at this stage, I think he is just collecting feedback. My thoughts are...im down if the plan is good.
Switching from Growth to Income
Im not going to say it makes perfect sense but it does not, not make sense either. There's not much use case for LEO over than staking it to earn 4-5% from curation. Im aware there is a new LeoDex that might open the doors to earn a higher APY but I'd rather not use any of LeoFinances products. LBI is still butthurt and holding over $5-8k worth of bHBD, bHIVE and bLEO. When I open a support ticket, I get a DM saying it's been resolved and closed. That $5k could be over 15-20k+ HIVE POWER which would double LBI's leo.voter income. Sorry, $5-8k minus 9% and a 13 weeks wait. No blood sample 👍🙃
I think the only way for LBI to become a sustainable income token would be to build its assets on HIVE and bring its income to LEO. 1 of the easiest way to increase HIVE income is through content because it requires a $0 investment. LBI from what I remember always got good content rewards because it was added to alot of people's auto-voters. A small team of 2-3 writers would be able to fill out the whole week.
I would not powerdown any of LBIs HP but I might use rewards from HBD or LEO to buy HIVE yielding HE tokens like EDS, PWR, INCOME, DBOND, EDSD, etc. Take those rewards and convert them into LEO to pay income.
As far as the suggested income split each week, I think it needs to be looked at. It's easy to allocate 100% of your income but when a large chunk of it arrives as HP from content & inflation or staked LEO from leo.voter rewards, it's not liquid and cant be paid out. Small teething problems.
What happens now?
I will share the posting keys with JK and when he is ready, he will put his proposal out there. After this, I think there would be some sort of token holder votes as suggested by @bozz to decide the fate of LBI.
I'll work with JK during any handover and make it smooth. LBI might even come back stronger than ever with a nice rebrand and good roadmap.
Here's the Lastest Report!
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Also, if you are still holding CUBlife (CL) tokens, please go and sell them back because the project is long dead. There is a 1500 HIVE buyback wall on HE at a price of 0.65 HIVE per CL token.