LBI Under New Management

The LBI token is under new management. @silverstackeruk launched it as a spin off from the @spinvest project to focus on LEO and it has several years of history under his leadership. In recent times, it wasn't getting as much attention, with other projects and funds coming along and LBI has been quiet.

I (@jk6276) offered to take over the admin for LBI and relaunch it, with a goal to resume dividend payments and build the value of LBI tokens by bringing off chain funds back.

So far, since the keys got handed over to me, here is what I have done:

• Sold the funds BTC back to HIVE

• Sold the funds ETH back to HIVE

• Begun the process with the LEO team to recover whatever value we can from the BHBD we had stuck.

• Unwrapped 13K BLEO and staked it.

• Set up @lbi-dab with 10K HIVE - bought 4800 RUG tokens

• Set up @lbi-eds with 10K HIVE - bought 1110 EDSD and powered up the remaining HIVE , delegated to @eds-vote

• Bumped our HBD savings wallet up over 5K

• Added a few thousand HIVE power.

• Set the autovoter to trail @taskmaster4450le's votes, including his extensive curation of threads.

• Started slowly accumulating BXT

• Commenced updating the LBI token value via a daily thread.

• Signed up for LEO Premium.

• Organised for @no-advice to move his popular Rune Guessing Game from the closing down @spinvest-leo account to @lbi-token

So that is Week one of the handover.

Here is how our assets look so far - tracking sheets are still a work in progress.

The total for the BHBD unwrap is a guess at this point of what we may recover. I have not heard back from the LEO team with details yet - but the process is underway and we can be patient with this one.

There is good news here and bad news. During the handover phase, an error was made and the funds BHIVE tokens were lost (accidentally sent to a contract address instead of the wallet address). The BHBD was valued at 0 in previous tracking, so the wallet isn't down in tracked value, so what we lose on the swings, we pick back up on the roundabout.

Overall I am delighted with the progress this week, and look forward to building the value of LBI tokens and fund over the years to come.

Some upcoming actions I need to make:

• What to do with nearly 40K LBI tokens the fund holds?

• Other investments to look at?

• Tracking of income.

• Re-engaging with the LEO community.

• Getting back to regular content creation.

So that's it for now, I was keen to get a quick post out to update progress so far.

You can see the last update post from LBI was a few months ago now. These posts will return to being a weekly event.

I'd love to here your comments, feedback and suggestions in the comment section.

Cheers,

JK @jk6276