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RE: Taking a look at our wallets - Part 1 : LEO

in #lbi25 days ago

Yeah, those seem like some pipe dreams at this point to me. I wouldn't be sad if they actually came to fruition, but I am also not going to hold my breath. Explain this LEO SIRP to me like I am a third grader... I haven't heard about it until now.

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OK, SIRP (System Income Rewards Pool - I think) as I understand it.

Basically, most of HIVE works as content and curation being the process to allocate new token inflation into various wallets. LEO has had inflation switched of, no new LEO get minted anymore. So, where does content and curation rewards come from now?

Basically, all the revenue that the Inleo website generates. Premium payments, beneficiaries on posts, Ad's (maybe one day...) and whatever other revenue comes from inleo.io. All of that get's used to buy LEO tokens off the market (out of the pool). Those tokens, bought with income, then get paid out as post and curation rewards.

Basically, it replaces inflation as the source of LEO rewards with generated income instead.

Ah okay, that makes sense. So if it works right number should go up... :)