The Team
The project was launched by @achim03 and @ph1102. We both have been on hive since 2018 – 2019. We both started with exactly zero Hive
Power. We are both pretty stubborn and we always grew our Hive account. Today we are both orcas. In 2021, we had the will to do more than create and consume content on Hive and we decided to start the Liotes project.
We have a team of curators with @jesuslnrs and @palomap3 who work in the context of Ourpick. Every day they search the Hive blockchain for quality posts.
What is Liotes?
When we started, we had plenty of ideas but things evolved and we had to adapt. Some things had to be abandoned and other new things were created. Our efforts went into building a community that proposes a lot of interaction and ways for people to keep motivated on Hive.
If we had to point out what makes Liotes different from other projects, it would probably be our tokenomics approach. Since the very beginning, we have kept all the hive that was generated through selling LENM, creating posts, and through other means and we powered it up. So for every sold LENM token, there is a real backing in Hive Power.
The Tokenomics
The LENM token is a mining token on Hive-engine. By staking LENM it generates LEN
tokens on a regular basis. Every week 1008 LEN tokens are minted.
Each LEN token is backed by the income that is generated by the liotes fund that delegates its hive power out. Every week a certain amount of this income is used to burn LEN tokens.
Liquidity pools
What makes the Liotes tokens interesting is also the liquidity pools. We have one liquidity pool that pairs LEN with swap.hive and another one that pairs LEN with LENM. Having two basic markets and two diesel pools gives arbitrage opportunities that give stability to the project.
The first pool we created was the pool LEN:LENM. What is exceptional about it, is the fact that we have pooled a mining token together with the mined token. It has a nice reward pool attached to it.
The Liotes Community
Over time Liotes has become a real community and we have added more and more instruments to keep people motivated and entertained:
Ourpick Curation
With the Hive Power that is locked in our fund we not only provide a return for the project and the delegators, we also power the ourpick curation project. Our curators pick posts in and out of our community on a daily basis that will be supported by our curation account. For every post that we curate, our curation team takes the time to give a real comment to the author. We believe that comments are as important as upvotes for content creators.
The Liotes Missions
Once a week, we run a liotes mission. It is a post where we ask our community a specific question about their lives, their work, and their opinion. It’s a great way for us to feel what the community thinks. There are often very nice discussions taking place in these comment sections.
The Liotes Ranking
When people take part in the Liotes missions they receive points for the Liotes ranking. They can also collect points by staking LENM or by delegating Hive Power to the liotes.voter. It’s a ranking that is open to everyone and every month we distribute prizes to the top 15. It’s a way to reward people for their involvement and also for being active in our missions.
The Power Challenge
One aspect that we care about is that people build their hive power. We have created the Liotes Power Challenge to incentivize that. Every year, we take the top 70 of the Liotes ranking and we check their hive power at the beginning of the year. We then follow their progress and at the end of the year, we check who has increased their stake the most. We have a little prize pot that we distribute according to how much they powered up over the year.
We realized that thanks to these tools, we managed to keep our community active and motivated. Our community has taken on the habit to power up much more than the average hive user. They are active and they identify with our project.
Liotes Witness
On the Hive blockchain, we are also block producers on the first and the second layer. By doing that we help to keep the infrastructure up to date.
Future plans
We have created a website that allows you to join programs and at the same time bring outside crypto to hive and to bring more value to Liotes. We call it the Liotes Earning page…