Guide to making more money on LeoFinance

in LeoFinance2 months ago

No doubt the biggest and most compelling strongpoint about LeoFinance is the natively tokenized nature of it all, which provides a huge incentive for beginners to stipulate content while also earning. The immediate problem to this is the resulting influx of garbage, useless junk that seems to always plague blogging platforms of this nature to "catch the wave".

The second biggest strongpoint, and a resolution to the problem above, is the manual curation and upvoting of content deemed valuable by the community.

Traditionally, this is your bog-standard assembly of a tokenized blogging platform. What enters into circulation is what is curated by the ones with the big stakes.

But since the conception of LeoFinance, the community has come up with many interesting ways to earn even more LEO through profitable means, especially if you are a high-profile person, through:

  • Delegation
  • Token miners
  • Tribe tags

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Delegating to curator accounts

This is probably the best passive-income source you can earn from in LeoFinance. Essentially, by delegating Hive Power (HP) to an account designed and engineered to curate, biggest paragon of which is @leo.voter, you can earn from curation rewards, which are split 50/50 between the author of a certain post, and the curators of it as well. Then, profits are split back to the delegators each according to how much they delegated.

However, this requires quite a bit of capital to get anything meaningful out of this. The good news, though, is that there are no lock-in periods to your delegated HP. Meaning, you can remove your delegations just as quickly as you delegated them. You can test the waters, and withdraw if the waters are too cold.

At the current rate, delegating 10 HP (Hive Power) to @leo.voter will net you about 0.004 LEO on a daily basis. Not a lot, but with enough capital, it can make quite a difference delegating your spare HP.

Token Miners

Now, this is where things get interesting.

LEO, like many other tribe tokens, cannot be mined with computing power. Instead, LEO is minted whenever a person curates a post, and the amount of LEO is proportional to that person's staked LEO.

Then, how do token miners, such as LEOM, work?

Basically speaking, LEOM (LEO Miner) works on the basis of a lottery based system, contrary to what the name would have you believe. Every hour, 30 LEOM stakeholders are randomly chosen and given a 'mining' reward of approx. 1-2 LEO. LEOM can be purchased from LeoDex for 8.2 HIVE at the time of writing, and the more you have staked in your wallet, the higher the chances of you winning.

LEOM isn't the only one in the game, plenty of tribe tokens have their own dedicated miners as well, such as PALM and CTPM.

However, the question of profitability in using token miners vs. manual curation pops up. Generally speaking, manually curating content is more profitable than miners if time is taken into context. But token miners eventually pay for themselves sooner or later depending on your luck in the lottery.

Expand your reach using tribe tags

Finally, the most convenient out of them all, is the inclusion of special tribe tags under every post you make in the topics section, which are:

  1. PROOFOFBRAIN
  2. ARCHON
  3. NEOXIAN
  4. PALNET
  5. CTP
  6. HUSTLER
  7. POSH

Thus far, ProofofBrain is the best tribe out there gaining traction and making strides, both on the price and community level.

Conclusion

Those three ways, however, only benefit the person themselves and not the community at large. Remember, we became the biggest tribe on Hive only thanks to our tight-knit community, and manual curation is the best tool to maintain and cultivate our position on the blockchain.

Thanks for reading, and happy earning!

Posted Using LeoFinance Beta

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Every hour, 30 LEOM stakeholders are randomly chosen and given a 'mining' reward of approx. 1-2 LEO

1.06 LEO to be precise.

Great post. Those who invested into miners early are seeing great profits.

Posted Using LeoFinance Beta

The tags are important for visibility in the right community.
Delegation and mining investments require a minimum amount of HP at the beginning, which holds back few Hivees including me.
Thanks for sharing these methods to earn LEO.
Peace

Posted Using LeoFinance Beta