What is LOLZ Defi?
LOLZ Defi is a new way to earn passive income on the Hive Blockchain and includes these three components.
- LOLZ Curation
- LOLZ Farming
- LOLZ Dividends
Each component works together to provide value to LOLZ users, delegators, and holders. Lets take a look at each part and see if LOLZ Defi is right for you.
LOLZ Curation
When a user calls the @lolzbot using the !LOLZ or !LOL commands to tip an author an LOLZ, there is a chance that one or more of the LOLZ Curation bots will curate their comment and the author's post earning the user, the author, and the LOLZ bot some tokens.
Currently, there are 19 curation bots. The following table shows the tribes, bot accounts, and tags being used.
You might note that a couple of the big tribes are missing (LeoFinance and ProofOfBrain for example). That is because those tribes frown on automated curation and we want to be good Blockchain neighbors.
Curation earnings from the bots (with the exception of Hive, which comes 100% staked) is split in three ways - 50% is staked to the curation bot, 40% goes to the @lolz.pool to reward LOLZ holders (more on that below), and 10% goes to the LOLZ development team (@lolz.devs).
LOLZ Farming
As of today, you can farm LOLZ tokens by delegating Hive tokens to the LOLZ Curation bots (HIVE delegation coming soon!). We are rewarding delegators with LOLZ tokens equal to 110% of the value of the curation rewards the curation bots receive (calculated based on a weighted average of the last 50 trades for each token).
For example, lets say you are contributing 10% of the total MEME power to the @lolz.meme bot. In this example, for every $1 worth of MEME tokens earned by @lolz.meme, you will be rewarded with $0.11 worth of LOLZ. LOLZ Farming rewards are paid out daily to all delegators (minimum of 0.00000001 LOLZ earned per token for payout).
You can delegate your staked tokens using ether Hive-Engine, Tribaldex, or LeoDex. Here is a quick walk through on how to delegate using Tribaldex.
First find the token you want to delegate, here we are going to delegate ONEUP. Click on the arrow pointing up.
Next fill in the appropriate bot account to delegate to (in this example it is @lolz.oneup because we are delegating ONEUP) and the amount you want to delegate.
Click "Delegate" and you are done! Sit back and collect your LOLZ Farming rewards every day.
Just be sure you delegate to the correct bot account, i.e., ALIVE to @lolz.alive, CTP to @lolz.ctp, etc. LOLZ rewards will only be earned when delegating tokens to the corresponding bot. Refer to the table above to make sure you have the correct bot accounts.
There are a couple of reasons you may choose to delegate to our LOLZ Curation bots and farm LOLZ tokens.
First and for most, our bots are VERY efficient. Each bot works 24/7, 365 days per year curating at a voting power of 99% on average. That means odds are you will earn more delegating to LOLZ Project than you could by curating on your own.
The LOLZ curation bots have been running for a couple of months now, so we have some data on the kinds of returns you might expect and some of them are rather eye popping.
A second reason is that LOLZ rewards will be 100% liquid. Some tribes send out only part of their curation rewards in liquid tokens with the rest coming to you staked.
Finally, by holding your farmed LOLZ tokens, you can participate in the LOLZ Dividends program and earn even more Hive tokens.
LOLZ Dividends
How was that for a transition? !LOLZ
As mentioned above, forty percent of curation earnings are paid out as dividends to the top 125 LOLZ Stakers (updated!) LOLZ Headliners (holders of 512 or more LOLZ) on a pro-rated basis weekly. Currently, dividends are paid out for two to three tokens per day, such that all pool rewards are paid out once per week.
For example, if there are two Headliners, one with 2000 LOLZ, and one with 1000 LOLZ, the pool would be paid out to the two headliners. The first receiving 2/3rds of the dividends, and the second getting 1/3.
Questions?
We will be happy to answer any question you may have. In addition, you can contact us on Discord.
About the LOLZ Project
LOLZ Project is an engagement project with the mission of spreading laughter and joy on the Hive blockchain. Hive users can use the !LOL or !LOLZ command in comments to share a clean joke and tip the author an $LOLZ token.
Help Support the LOLZ Project
Here are a few ways you can help the LOLZ Project.
- Use the !LOL and !LOLZ command often to tip fellow Hive authors.
- Upvote and re-Hive our posts. All rewards will be used to help cover server costs and increase curation value.
- Delegate Hive tokens and earn LOLZ Farming rewards.
- If one of our jokes makes you smile, consider giving it an upvote.
- Follow @lolztoken and participate in our airdrops, contests, and giveaways.