We hear a lot about the fact we have a lot of communities that formed on Hive yet many are lagging. Without a dramatic increase in users, this is to be expected. That said, the tribes do assist in one major way: categorization of posts.
One of the issues with Steem right now is finding content that one is interested in. The blockchain is a river of posts floating by. There are few ways to filter out the content in a manner that we are accustomed on the Internet. Alas, things take time so we will see how things unfold on this end. That said, tribes are helping with this since, for the most part, posts are relevant to the particular topic.
Leo is a tribe I am watching closely. There is a lot going in with it and I felt it might be practical to share some of what is taking place.
To start, one of the main focuses is upon the burning of the LEO token. This is something that I favor a great deal at the tribe (and in the future, the SMT) level. Communities can help token holders by making the token scarcer. This is a balancing act of course because a community needs enough inflation to attract and reward new users while allowing existing ones to grow their balances.
However, any time we see a systematic token burn implemented by a community, it is beneficial to the token holders. After all, Wall Street is filled with companies that are "burning" shares of stock especially with interest rates so low. The one major difference is the supply of tokens cannot suddenly be increased.
There are a number of different ways that SteemLeo is burning tokens. The latest, is an agreement with Coinzilla to place ads on the site. Historically, we are users hate the idea of ads since they tend to muddy up a site, slow our computers down, and only benefit the platform they are on.
This, however, is the world of crypto, a place where everything is turned on its ear.
The agreement with Coinzilla is going to bring in revenue to the Leo system. This money is going to be used to purchase the LEO token on the market and burn it. Therefore, each token holder is, in essence, being paid a small bit for the ads since the burn reduces the total supply of LEO.
@khaleelkazi made a video earlier describing what is taking place and why the decision was made to go with Coinzilla. He estimates there will be 8,000-10,000 LEO burned a month based upon the present traffic.
Another way we are seeing this same concept applied is with the Brave browser. One is able to sign up for the BAT token which is given for clicking on ads when one used that browser. In the settings, one can opt to "tip" sites. This is based upon the time one spends upon each individual site. The system determines how much is to be given to each site based upon the amount the individual receives each month.
As you can probably guess, any BAT tokens received by Leo from individuals who tip will also be used to buy LEO and burn it.
Like with anything on the Internet, the key is traffic. Leo is a tribe that I believe holds great appeal to many people. There are two sites in the financial world, SeekingAlpha and Marketwatch, that have 15M and 16M MAUs respectively. That is a lot of people who are getting their financial information from nothing more than glorified "blogging" sites.
These provide a centralized template for what can be copied onto Leo. This is a vital point in my opinion. Simply recreating a great deal of what people are already accustomed to will make it easier for them to transition. For this reason, I suggested the idea of having market price feeds on the site. Many go to these sites just to check on the latest on the markets. If SteemLeo is offering something similar, it might become a resource center for people.
At this point, I need to mention that I am actually writing this article on the inleo.io website. This is a point that most overlook. To enhance the rankings with the web crawlers, the content has to be posted through that site. While it is wonderful to see posts using other Hive interfaces with a tag, it does not provide maximum benefit to the tribe. This is something that applies to every tribe so, if there is one you are supporting, be sure to post through the site itself.
Opportunity is presented to early adopters. Over the past couple months, I am staking all the LEO that enters my account. This enabled me to top the 10,000 LEO mark which came from, in addition to my initial stake, posting and curating. Each day, I use my full allotment of upvotes to spread the LEO Reward Pool around.
In my mind, the path for this tribe is simple: follow what is already successful.
There are a number of different sites that cater to people interested in financial news and information. Attracting them to SteemLeo simply requires a better economic model than what is presently out there. We know the future of the Internet is tokenization, so there are advantages to being one of the first to do it in a particular genre.
SteemLeo is not going to be the magical application that propels Web 3.0 into motion. It is, however, a project that has a vision and can be very successful. Personally, I feel it is a resource that is going to be needed more in the future as the number of people who are involved in cryptocurrency grows. This is going to put money in their wallets which means they are going to need to invest. Most are not in position in the scarcity world of fiat but they will be with crypto.
Being able to offer our experience and ideas will be invaluable to these people. Having everyday Janes and Joes who were able to accumulate some wealth through tokens sharing their experiences is of great help.
A site like Leo offers that. Learning, sharing, and being rewarded about financial and investment matters.
Who can say no to that?
Posted Using InLeo Alpha
