I Am The Owner of 500 Legion - What Can You Do With 500 Legion?

There is so much to take in on this platform when you have just started out, but no matter how overwhelming it can seem there is never any shortage of innovation and excitement.

As I get to know more people and talk to more Hivians I learn more and more about the variety of project and accompanying tokens that are available on the Hive-Engine market - a side chain of Hive.

Since joining Hive a very nice guy called @stickupboys has been very welcoming and I have bothered him a lot with my nooby questions - sorry SUB! But he has been very obliging at every step, even when he's on holiday, offering plenty of much needed guidance.

So What's The Dilly With Legion?

After a lot of deliberation I have decided to invest in a token called Legion which @stickupboys is heavily involved in. It is a token that is part of the wider BRO eco-system on Hive and Hive-Engine, check them out here @brofund. The BRO community, which is keen to point out it welcomes both boys and girls, is the brainchild of @raymondspeaks. There are three tokens, the native BRO token and then there is Legion and Cine.

I have been hanging around in the Bro Discord server for several weeks now, they are very infectious! In this one Discord server alone I am learning lots about Hive.

So I have decided to invest and buy 500 Legion.

(Note: There is no wallet value as my 500 Legion are staked.)

Legion Utility

Legion gives you two main incentives to hodl it. Firstly as soon as you Hit 1000 Legion you qualify for daily votes from the Legion support account @wearelegion, with 1000 Legion you get a 30% upvote, currently around $0.30 a vote. And that's with Hive currently at just under $0.20. When you hit 2000 tokens you'll receive a full 100% upvote. I intend to shortly buy another 500 Legion and start taking advantage of votes. It would be silly not to.

So how much did 500 Legion cost me. Well I spoke to @raymondspeaks and he gave me a slightly better deal than market price, so I managed to get 500 Legion at 0.75 Hive a piece. It cost me $75.

Now then, obviously I like to use my money to make money so I was kind of working out how many votes I would get before I would make back the $75 - you don't need to do that! You are literally in profit from day one. Let me explain.

The other great aspect to buying the Legion token is that if you stake it, any amount, you will automatically start earning daily Hive payouts directly into your Hive wallet. For around 1000 Legion you will get approximately 0.13 Hive a day. So with my 500 Legion I can expect around half of that paid each day. You are literally in profit from day one of buying your Legion. Very nice!

Additionally as soon as I buy my other 500 Legion I will have amassed the 1000 Legion threshold and will start receiving daily upvotes.

And most importantly you still have your tokens. You can pull out and sell anytime you choose, although I don't recommend doing that as there's too much to lose by doing so. But it's a win-win with Legion. However, this is part of a wider investment strategy to power up Hive and delegate to various other projects.

Market Liquidity

The one drawback and reservation I have is that there isn't much liquidity on the open market, so should I choose to pull out I may well struggle to sell my 500 or 1000 Legion, as far as I can tell. This is obviously a concern and is an area I am going to have to focus on before I can be fully confident. However, for now let's see what it can do.

And let's see if a much needed alt season could change things!

Peace!