Two Deadlines to Keep in Mind If You Are on Hive
There are probably more of them, but two are hours away and I am tracking, others I might not know about myself.
At first, I thought both are today, but it turns out one event is planned for tomorrow while the other is today.
Let's start with the one from today...
SPS Snapshot in 3 Hours
... at the time of writing, i.e. at 11.30 AM EST or 3.30 PM UTC.
Details here.
Interested or not in Yaba's Pickle, in the first phase the SPS stake is a limiting factor regarding how many one can buy directly from the shop. If the demand will be high, those who buy the promo card at the special price of 150 DEC or credits for the first phase may be able to sell it at a higher price if they don't want to card. Or they may want to buy it from others at a premium if they want more, without leaving things to chance for the future phases.
Either way, how much SPS you have staked it important in this first phase, and the snapshot is in less than 3 hours by now, in case you want to make any last minute power ups to round up your SPS stake.
LEO Inflation Goes Away... Tomorrow
At first, I remembered it was either today or tomorrow, but after a little confirmation on Threads, it looks like it's tomorrow.
Starting tomorrow, the inflation of LEO on Hive-Engine will be set to zero and, from what Khal said at some point, they will also make it impossible to print more tokens in the future.
For end users nothing will change, although probably the amount of LEO they'll receive going forward as rewards for curation or other reasons (owning miners, for example) will be lower, in sync with the amount of LEO being bought back every day.
So, LEO rewards will come from buybacks, using funds from business revenue. The higher the revenue, the higher the buybacks. Currently, the majority of the revenue comes from affiliate fees on LeoDex.
Besides LEO rewards earned on Hive-Engine, a new reward will be distributed to stakers of LEO on Arbitrum. In this case, USDC rewards will be earned, instead of LEO.
So... we will have two options going forward: on Hive-Engine doing the activities we already know, we will continue to earn the volatile LEO rewards, probably less than when we had inflation. But we will have the power to distribute the rewards given by our stake, much like we had it when the reward were inflation-based.
On Arbitrum, staking LEO will produce stable rewards, probably varying by the revenue of the business, but not as a token, since we are talking about USDC.
These are two models which may be better suited in certain market conditions and depending on what a person wants: to grow their LEO stake hoping it will go parabolic at some point, or being happy with a token that may be more useful for... real life purchases and short term.
Posted Using INLEO
The market conditions we are facing right now are such that there is no solution at this time due to the war and the fact that we can only get some rewards from staking.
War is certainly bad news for crypto.
Yeah.
I knew both of them were happening, but I didn't realize that they were happening so soon. I wonder how things will change in terms of LEO since I expect that we will get fewer rewards from curation/posting.
Yep, I guess we all wonder that. Hopefully the price will go up to compensate the zero inflation, but we know that isn't always the case. Particularly if alts keep bleeding.
I've not been keeping up with LEO news. Maybe what I have will gain some value again :)
It seems LEO has gone up from its lows, but we will see if that's a temporary thing or will happen on the long term, which would be desirable.
Oh damn I tought Leo changes were already done, should wait to sell the leo lol
To me it looks like it's on its way up, despite the market. Haven't looked at its price evolution, but it was $0.02 recently, and it is $0.03 now, rounded, of course.
I will have to check out the SPS card... Have some staked SPS and it would be pity to not use this opportunity!
We have 30 days to buy based on our SPS stake, starting from June 24, if I remember well. Whether that card is desirable or not if not maxed (where it picks up heal), that's another deal. But the price may be good to sell it at a higher price later perhaps, too.
I think the second model, staking LEO for stable rewards can be a great option during market downturns. The USDC could be used to purchase LEO at a discount. Particaping in both models is the ideal goal for myself.
Yes, I'm thinking to move some of my LEO to Arbitrum too over the next few months. But I won't be in a hurry.
I haven't been keeping up with any splinterlands update so far, and I still don't understand what that YABA pickles card is all about.
Just a promo card. It's the name that mostly makes it interesting to talk about, more than the card itself.
https://x.com/jewellery_all/status/1935251893758083574
#hive
Thanks for sharing!
it is a good thing that I have staked a good amount of SPS
Yes, it is.