So it's holiday time and Zoltan will be back home soon but it's quite amazing that even during holidays all the parts of the project are going on like normal. We have updated the weekly numbers. You can check them in the image below.
There are now 59234 Hive power on the Liotes fund. Everything is delegated out and the return that we got this week is 88.63 Hive. That is actually the income from the first layer and today, I would like to explain a bit how we use this income.
How we use the income of the first layer
As I said, this income is generated through delegating to the liotes.voter account. Every day, we get dividends and these dividends are accumulating over the week. This week, the dividends generated corresponded to a total value of 88.63 Hive. This is the income that then needs to be distributed.
- A big part goes into a pot that is meant to burn tokens on to the liotes.burn account. Together with other income sources, like our income from the hive-engine witness or the burn tokens from the delegation of the liotes account, it forms a pot that is paying for infrastructure costs and for the burn mechanism. This week for example, we managed to burn 300 LEN tokens with this pot.
- Then there is one part that is going to the liotes.vibes account; it's 10 HIVE per week. This, in addition to other income sources from the second layer, is actually purchasing BTC tokens on a weekly basis.
- A third part of this income is invested into CTBSB tokens that later on will be added to the reward pool linked to the LEN/LENEM pool. In the past this was our investment fund but we've realized that it's very difficult to actually find something that is worth investing in. We thought the best thing to invest in, is into our own project and that's why we have decided to invest this part into ctpsb tokens. These tokens will be added into the reward pool once the present one is running out. This ensures that the reward pool is refilled on a regular basis from the income of the project and that the return for our tokens will remain high.
We have also updated the Liotes ranking. There were no new ranks to be awarded. You can check out the ranking in the link below.
