20'000 HP on the Liotes account

4 hours ago

20'000 HP on the Liotes account.jpg

For the people who follow the Liotes project for quite some time, you probably know that we have several accounts that are accumulating Hive Power. Our main account is the liotes.fund account that has over 70'000 Hive Power staked. Another important account is the @liotes account. This account is fed by our author rewards from our posts and also through our witness rewards from our hive witness. Today, for the first time this account has grown above 20'000 Hive Power.

What is the purpose of the @liotes account ?

In addition of it being the account where we publish our content, the hive power of this account is delegated out to the liotes.voter. This generates daily dividends in the form of LEN tokens. These LEN tokens are normally burnt every week. It's our organic burning mechanism. I say normally because we have made a burn break that will last for a couple of weeks. Instead of burning the tokens, they are put aside and will be added to the new reward pool LEN:LENM, when the present one is running out.

Liotes = the hive power accumulation machine

Sometimes we forget it a bit but the Liotes project has this habbit of accumulating hive power on different fronts. All the proceeds from selling our LENM tokens is powered up. All the staked post rewards from the liotes and the ourpick posts are remaining staked. The only account that we power down from time to time is the liotes.voter account that is the origin of our curation project ourpick. This means that with every post, with every day that passes, the liotes project accumulates more hive power and for most of it, as long as the project exists, won't be powered down.