100,000 STEM burned off sell wall

in LeoFinance2 years ago

We did a little house cleaning and burned some tokens. As promised, we have been burning all author rewards on STEMGeeks account and our liquid curation rewards on STEMCuration.

We also reduced the sell well by around 10% by burning off some STEM tokens.

100,000 STEM burned off the sell wall.

We have issued and burned a lot of tokens, drastically reducing the supply. This was mostly done on Steem prior to moving over to Hive so the total burn % is relatively low as we already removed those tokens. Most of the currently issued tokens are the sell wall (which is being burned down if not sold) and the nostem4u anti-abuse account that will never be sold.

As of right now 44.43% of all issues STEM tokens are staked.

I put a lot of thought into the tokenomics of STEM before creating STEMGeeks and we have very low inflation and the reward pool is very well distributed with good content getting rewards where spam and off-topic content does not.

We currently have four official STEMGeeks curators, we are looking for one more if you think you have what it takes, drop your name in our Discord.

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Great activity in the last period to push STEM into the right direction and have a more realistic supply. Burning of Miners and STEM tokens puts the project at the size and valuation that it needs to be to grow from here. The well required cleanup and seeing this steps I am motivated to come back to this great community, which might make sense economically from this point on.

Posted Using LeoFinance Beta