We have burnt the whole LEN supply of the week

Before we started the Liotes project, we had a clear picture about the tokenomics of it. However once the project was launched, we constantly had new ideas to improve the project and this kind of troubled our tokenomics.

We now have reached a point where we have integrated the new ideas and managed to set up a sustainable system. This week for the first time, we managed to burn the whole weekly supply of LEN tokens.

LEN tokens can only be produced by staking Liotes Mills (LENM). There are 144 LEN tokens produced per day and 1008 tokens per week.

Our objective is to provide buy orders for all the tokens in circulation in a sustainable way. In order to achieve this objective, we will try to keep the amount of tokens in circulation relatively stable. Like that we can plan easily and we always know how much hive we need to balance these orders.

This also means that we consider the actual prices for LEN tokens sustainable and we hope to be able to stabilize the LEN price around this value. In the long term however, we want to be able to make this price grow.

In the video you will get all the detailed information how our project is growing. It's looking good and we are quite happy with where we stand today.

Liotes

A project run by @ph1102 and @achim03

Resources

• Website
• Hive account
• Liotes Whitepaper
• Discord Server
• Lbry account