Massive LEO Burn: 970 Million Tokens Gone, A New Era for the Project!

Hello Hive Fam!

An announcement post has been published by the LEO @leofinance account stating that 970 million LEO tokens are burnt. this is the first time I have seen any burn announcement on this platform but apart from this I have seen other burn announcement especially if I'm talking about the BNB coin. I don't know if that project do the burning every quarter. This project is founded by @khaleelkazi

Gemini AI generated image

I asked Gemini AI to explain about the burning and how it works and how it also benefits the project. I got a detailed answer from this AI chat bot but here I'm sharing the details In short to have clear understanding about this burning mechanism. in nutshell burning is a process through which any project burn a number of tokens and reduce the circulation supply which is linked with supply and demand. and there is less supply for any coin in the market then it adds more value on the token economy which is good for any coins value appreciation.

from Gemini AI chatbot

This is LEO token and its listed on exchange which is called Hive-engine and directly also you can go the token trading page through link - https://hive-engine.com/trade/LEO

The price is going up

970 million LEO has been burned. Inflation has been set to 0. The new rewards pool model is LIVE for content creators and curators on INLEO.

970 million is a huge amount and with this burn there is no inflation on this coin anymore. Its like a start from the scratch and its live for everyone- creators, curators on inleo platform.

Gemini AI generated image

This project has been working in web three space for over five years and they know how to make things better I believe so with this burn they are adopting a different model. I hope things will improve for this project and the value will also increase for the coin and in crypto one thing is very clear that when coin value is high a lot of people become part of it so if it happens in this project we can see a lot of people coming over and getting part of the project.

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I use their user interface for post creation and I find it easy to use and also on top of that I earned some LEO coins So it is good And my holding is not so big but my plan is to continue the accumulation and grow it as leo power. it is similar to HP that we earn with the blogs And it can be used for upvoting the content published on platform. people who vote using their leo power.... works in the same fashion like HP.

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Posted Using INLEO