The @leo.voter bidbot is used to earn Steem while burning Leo. This bidbot is a new innovation on the Steem blockchain, created by the team at Steemleo. This is a review of the process and benefits of this bidbot called @leo.voter.
The way it works is you send your Leo Tokens, to the bidbot from your wallet to buy Steem upvotes on your post. The bidbot then awards part of the LEO you send to the people who delegate SteemPower to it, which allows it to have SteemPower to upvote your post. Then the bidbot sends its share of the LEO to a null account where it is removed from the circulating pool of LEO for ever. This process is called burning Tokens and is also referred to as a Sink. The process is discussed in great detail in this Steemleo post: Steemleo Token Burning
Steemleo illustration.
Picture Source
To use the voting bot, just follow these simple steps:
- Post your quality content on Steem (doesn't have to be under the #steemleo tag)
- Copy the link to the post.
- Send LEO to @leo.voter WITH your post link in the memo field (don't send to any account other than @leo.voter!!!)
- Get an upvote from the bot!
This use of a bidbot to burn Tokens and increase Token scarcity, thus increase Token value is an interesting idea, and it has been embraced by the Steemleo Team. Their are a few other tribes also burning Tokens as a theoretical way of increasing value of the remaining Tokens. I think the use of a bidbot in this way by the LEO team is difficult for bidbots on Steemit to do because they would be burning their profits, but perhaps it could be implemented by Steem Inc. as a potential alternative bidbot on the Steemit platform. Steemleo is a community for investors, learn more here: Steemleo Intro Post
Conclusion:
You can promote your post with Steemleo bidbot, earn Steem and burn Leo by sending LEO to @leo.voter. This reduces the supply of LEO and helps to increase the price of Leo on SteemLeo Interface.
Written by ✍🏼 Shortsegments
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