In case you are not aware, LEO Power Up Day, or LPUD is a special day set aside in the vibrant LeoFinance community for the staking of the LEO token. In other words, LPUD is a monthly LEO staking initiative usually observed on the 15th day of every month in the leading crypto and finance Hive community, LeoFinance.
The LPUD activity is an interesting program that benefits both the user who participates and the entire LeoFinance ecosystem. It is worth noting that the LEO Power UP Day initiative is designed to encourage the staking of LEO which in turn helps in reducing the circulating supply of the second-layer token in the market. In doing so, LEO becomes scarce and in effect, demand for LEO could surge, leading to a price rally.
In other words, taking part in the monthly LPUD initiative is one way to show support for the community and the LEO project. Aside from the fact that staking LEO benefits the ecosystem, it also directly benefits the stakers. What do I mean?
When a user stakes the LEO token on the web3 LeoFinance blogging platform, the user's vote value increases which allows the user to receive curation rewards. Notably, the more LEO you stake, the higher your vote value and the higher the author rewards you get to earn on your posts as well.
Interestingly, there are several rewards for taking part in LPUD such as winning delegations for a specific period.
Slay the Dragons
It bears mentioning that the theme of the November edition of LPUD is "Slay the Dragon". To slay a dragon, a user must either stake 2,000 LEO or 5,000 LEO tokens, depending on the dragon a user decides to fight. According to the team, "if you power up 2,000 - 4,999 Leo tokens, you slay an elite dragon. If you power up 5,000 or more Leo tokens, you slay an elder dragon."
However, to participate in this month's LPUD initiative and be eligible for rewards, the minimum stake amount is 150 LEO. Therefore, I staked 181.554 LEO tokens to participate in the November LPUD. This amount represents all my earnings on the LeoFinance platform from October to date.
While this is not enough to slay either an elite dragon or an elder dragon, it demonstrates my support for the community and my bullishness on the LEO token. At the moment, my LEO power is as low as 938 but I look forward to staking more LEO, as I earn them via creating more useful content and engaging as well.
HAPPY LEO POWER UP DAY, FRENS!
Posted Using LeoFinance Beta
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