A New Use Case for HBD! | Introducing LEO Premium
LEO Premium is one of the largest updates that we've ever rolled out. It introduces a ton of new features along with an entire payment rail for accepting HBD directly on https://inleo.io for anything we want. The first among many use cases for this payment rail is LEO Premium.
What is LEO Premium?
LEO Premium is one of the core revenue models for the LEO Token Economy. Any user can sign up to Premium at any time. It costs $10 per month and is collected in the form of HBD. That HBD is then used to purchase HIVE and LEO on the open market and then pool them permanently in a liquidity pool (more on this down below).
LEO Premium is a development we pursued for two main reasons:
- To give users access to an exclusive experience
- To monetize the platform in a way that drives value to the LEO token economy
When a user signs up to Premium, they currently (as of October, more features will keep getting rolled out continuously) get the following features:
- Orange checkmark next to your username
- Priority in "For You" feeds
- Edit threads after you post them
- Add Bold, Italic and other "Markdown Styling" to your threads
- Publish longer threads
- Pinned threads
- Favorites menu
- Custom Lists
- Themes
- NFT profile picture (PFP)
- Auto-AI summarize your Long-Form Posts into Threadstorms
Economy
As one of the core revenue models, LEO Premium drives in HBD (stablecoin) which then purchases LEO and HIVE off the market in equal quantities. That LEO and HIVE is then wrapped to bLEO and bHIVE on the BSC blockchain and provided as permanent liquidity to the bLEO-bHIVE Liquidity Pool.
As the number of Premium Subscribers grows, we will continue to see this bLEO-bHIVE liquidity pool thrive. The permanent liquidity will create an ever-deepening liquidity pool and ultimately benefit both LEO and HIVE as it aims to drive more trading volume, wrapping volume and activity in the economy. Liquidity is key in building a thriving economy that utilizes various DEXes for trading.
Incentives
The incentive loop for Premium is fascinating. Due to the fact that 100% of the revenue generated by premium subscriptions purchases LEO and HIVE (in equal quantities) on the open market and then permanently deploys them into a liquidity pool, anyone who holds LEO or HIVE is incentivized to not only be a Premium member but actually reward people who are Premium.
Knowing that other users' $10 per month is going toward buying LEO & HIVE and pooling it, LEO POWER and HIVE POWER holders have a deeply engrained incentive to encourage people to sign up for Premium. One of the best ways for them to do this is by curating (Upvoting) the content of Premium users and be very vocal about doing so (so that more non-premium users desire those votes and turn Premium).
Additionally, rewards from upvotes are paid directly on the Hive blockchain. The HP portion of those votes actually pay out HBD to the user. So thinking of Incentive Loops, now picture that a Premium user is actively earning more upvotes which means they are actively earning more HBD which ultimately they can use to renew their subscription for another month. The loop keeps playing and demand to buy HIVE & LEO grows.
Example
An example of how this all works: a user is incentivized to get Premium because they desire access to exclusive UI features. They also want to earn more rewards on the platform and understand that having a Checkmark + being a part of Premium incentivizes LEO POWER and HIVE POWER stakeholders to shower them with more upvotes on their quality content and engagement. This user heads to https://inleo.io/premium to sign up for LEO Premium.
On the Premium page, they are prompted to select a payment method and then pay 10 HBD/month.
The 10 HBD is sent from their blockchain account to the @leopool blockchain account. This account is governed by a smart contract which purchases LEO and HIVE off the market and then pools it. @leopool will trigger this action each time the account reaches a balance of $500.
Let's say the account has $490 in it and then our user in this example subscribes. Now, the @leopool account triggers the buy action, using $250 to buy HIVE at the current price and another $250 to buy LEO at the current price.
Once purchased, the $250 HIVE and $250 LEO is wrapped to the BSC blockchain using the INLEO Oracles (bnb-hive and b-leo, respectively). A @leopool BSC account receives the bHIVE and bLEO and then pools it on Pancakeswap. The pool has now grown another $500 in permanent liquidity (liquidity that will never be removed).
If you are familiar with AMMs, then you'll know that there is a small swap fee each time a user swaps in the pool. A % of that swap fee is earned by Liquidity Providers. This fee is denoted in the base pair (in this case, bLEO-bHIVE LP Tokens). Since @leopool has permanent liquidity, the liquidity it holds will permanently increase from the LP Rewards. Liquidity in the bLEO-bHIVE pool will continue to grow based on monthly subscriber revenue + revenue from LP Rewards, which autonomously compound.
Features
Checkmark
Priority in the For You Feed
Edit Threads After You Post Them
Make Your Threads Stand Out With Markdown Styling
Custom Lists
Add Lists to Your Home Feed
Publish Longer Threads
Pinned Threads
Favorites Menu
NFT Profile Picture (PFP)
Auto-AI Summarize Your Long-Form Posts into Threadstorms
Themes
The Future
LEO Premium has a bright future. We've already rolled out tons of new features specifically for Premium users and we'll continue to do so. Being Non-Premium doesn't make you less important. The key distinction is that Premium members get exclusive features that let them customize their User Experience while also bringing some extra convenience to their lives.
If you boil down any product or service in the economy, you'll find that many often bring you customization and/or convenience. This is a key to the LEO Token Economy's future.
In just 24 hours since going live on the production UI, LEO Premium already has ~52 subscribers. Our goal is to reach 200 premium subs within the first month of operation (by November 26th).
As we said at the beginning of this post, the payment rail was one of the toughest build-outs for Premium. Now that we have the payment rail, we can accept Hive-based payments for literally anything.
One of the next core features we roll out will be "OnlyLEOs" which is our funnily-named feature that resembles Substack or Patreon and allows any Hive Creator to launch a subscription pay-wall on some of their content. We'll likely come up with a new name for it when it goes live but the feature is another vital notch in the belt for the LEO Token Economy.
The new protocol will allow authors to create subscriptions and then any Hive user can subscribe to those authors using HBD. When they subscribe, they'll get access to any Exclusive Subscriber-Only content that the creator desires. These can be:
- Threads
- Blog Posts
- Videos
We'll showcase the awesome design we've built for doing subscriber-only content that is on-chain on Hive. It utilizes some of the amazing encryption tech that Hive offers.
For now, we hope you enjoy LEO Premium and become a long-term Premium Member. The benefits of being Premium are a superior User Experience and the incentive structure that has a promising outlook on increasing the number of upvotes/HIVE & LEO rewards you recieve for your Threads and Posts.
See y'all in the LEOVerse!
Click Here to See the Premium Sign Up Page!
About INLEO
INLEO's mission is to build a sustainable creator economy that is centered around digital ownership, tokenization and communities. Our flagship application: inleo.io allows users and creators to engage & share micro and long-form content on the Hive blockchain while earning cryptocurrency rewards.
App: https://inleo.io
Twitter: https://twitter.com/inleoio
Discord: https://discord.gg/c7YSmymBqs
Our Hive Applications
Join Web3: https://inleo.io
Microblog on Hive: https://inleo.io/threads
Build a Microblogging Community on Hive: https://inleo.io/communities
Delegate HIVE POWER: Earn 16% APY, Paid Daily. Currently @ 3.5M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
BSC HBD (bHBD): https://wleo.io/hbd-bsc/
BSC HIVE (bHIVE): https://wleo.io/hive-bsc/
Earn 75%+ APY on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io
Posted Using InLeo Alpha
loving the modular customization. things are getting very easy to make your own. this is the way.
Wouldn't it be real premium to have a RGB slider and/or a hex input field for the color selection of logo and the other elements individually?! 😎
now that would kick ass
you could have your ff13 and i‘d get my fefe 😎
hmmm this is possible but may take quite a bit of work. I’ll see if we can put it somewhere on the roadmap that makes sense
As I remember, bHIVE / bLEO farm produce the LP rewards in the form of CUB. I wonder, for what purposes the CUB's earned by @leopool will be used for ?
Any plans to give some boost to CUB ecosystem ( and PolyCub too) ?
THis is another angle. Did not even think of this. There Are so much possibilities here
You beat me to the exact question I wanted to ask. I thank you for that!
It says
not CUBdefi!
How this is not the same ?
Don’t know, is it?
The farm produces CUB but remember that you have to stake to earn it
I suppose we could put this into the farm and it would effectively burn the CUB it earns. I’ll put a poll for the community to vote on this
Yes, you should attend more AMAs where we always talk about things like this.
Remember that bHIVE and bLEO earn wrap/unwrap fees. What happens to those fees? They buy/burn CUB as they accumulate. Building liquidity for the bHIVE-bLEO pool will not only positively impact HIVE and LEO because of increased trading volume and liquidity but it will also benefit CUB because of trading volume.
As this model is successful, CUB will outperform. Then we’ll push the model to POLYCUB as well.
Everything in this economy is made to build layered and circular value. Patience is required.
Also wondering if the hive/leo wrapping fees are still going to buy and burn CUB from the market??
With hopefully at least $1000 a month starting off in crosschain swaps there should be some fees generated.
Somehow you have managed to apply the circular economy template here. Basically, there is no wasted resource in this system. Hbd finally has a usecase outside being a peg, with the addition of an increased liquidity pool. This is spectacular work.
I am excited to see how this drives price as well as community growth on the hive chain. I can see the amazing possibilities here. I must applaud. 👏🏼
Indeed, LEO PREMIUM is the largest update you have rolled out which comes with amazing benefits to enjoy. I love that 52 subscribers have already gotten the checkmark and those colors looks good too. Markdowns on thread is what I love and would love to start exploring being a premium member. I believe more than 200 subscribers will be achieved before November, 26 in which I will be among too.
But, I have a question: The longer thread feature, does it mean the 240 characters would be exceeded for them too?
I like the idea of having a Leo premium on the INLEO UI and with all the underlisted benefits which subscribers are going to get, I see it getting mass adoption. Hopefully, I will subscribe soon.
will there be premium feed so that we can easily find people to curate?
Well, that is lit! Been away for so long, and now we have this feature. Let's scramble that 10 HBD and stay on premium, at least this we can do for #inleo.
I'm excited to join the leo premium User's Club today. Yet to see my colour themes change access. How long does it take for that to get live?
The theme color selection is under "... More" on the left side panel, just above the Publish button. It will give you a drop-down that shows the "settings". Here you can select a color theme.
Amazing features, congrats on the payment rail for hbd, that might set a new standard for businesses on Hive. I think being able to have a subscription model on Blockchain that is so easy to use will start a new era and is a proven business model on web 2. Just subscribed to it, happy to be part of
I need to play around uS$1000.00 per year it Is a Little expensive to me,
How i get this numbers
Imagine 120 HBD per year, it Is around 320 hives at today prices, Is i Sell it in a bull market, this could be $1,000.00
It Is a Little expensive right now.
But i I'm the future o consider this for the great benefits that this give us.
Thanks a Lot.
Not a little expensive, but very expensive. $10 HBD per month is too much. Many people do not even earn this amount with their blogs.
Sometimes, but in the future i Will try to get the premium.
I wish I could delegate locked up 600 HBD instead and allocate the newly minted HBD to this service.
the on going development of Leo is amazing. Thank you for continuing to do the work and delivering for us all.
2 Tiers...
great
A great idea, i will subscribe to the new Premium package
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Wow this is quite interesting and exciting at the same time