LeoGlossary: LPUD

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How to get a Hive Account

Stands for Leo Power Up Day.

This is an event that is held the fifteenth of each month. It is designed to bring awareness of the importance of staking of LEO. The members of the Hive blockchain each take the opportunity to move liquid coins and convert them to Leo Power. This is the term used for staked tokens on-chain.

Increasing one's Leo Power affects the voting power, which translates into rewards for both curator and content creator. It also helps to remove LEO from the floating supply. Curation using voting power is how the Leofinance reward pool is distributed.

The event is marked with prizes for those who participate. Community members offer up delegation of Leo Power for the following month. This enables the individual winners to grow their stake at a quicker page.

Individuals on Leofinance who participate often follow up by writing posts about what they did. This helps then to earn greater rewards as many are involved in supporting the others.

These are activities that are becoming very familiar in the world of cryptocurrency.


Posted Using LeoFinance Beta