The LEO token is already known to have an aggressive burn program. Till this date there is an overall 728k burned. That is an 15% of the total supply. Here we will be looking a bit more into the burning, and see where does it comes from, what are the LEO sinks that create the most demand and what can be expected in the future.

The overall tokens burnt

Here how the all time burn chart looks.

We can notice the sharp jumps. Those are from the burning of sell wall.

Here how the daily burn looks.

The Y axis on the chart is on a logarithmic scale for better visibility. The large spikes are the times when the sell wall was burned.

LEO Burns Breakdowns

Now let’s take a closer look to the structure of LEO Burns.

From the total tokens burt of almost 728k the majority, 82% is coming from the sell wall, 14% are from the NoPal4You account ant 4% from the rest of the LEO sinks, that we will be looking at a bit closer. They may look like a small number but they hold a great potential.

Source	Tokens
Sell Wall	600,000
NoPal4You	100,000
Rest	27,875
Total	727,875

Burning the sell wall

The sell wall till now has 600k tokens burned. Here how that looks historically.

Since the majority of the burns come out from the sell wall burned this chart looks quite similar to the overall chart. But not exactly 😊. Out of the 2 million initial in the sell wall, 600k are burnt and 1.4 millions still remain in the sell wall. I guess those will be slowly gone at a rate of 200k per month. If burning of the sell wall continues on this rate that means that it will be gone in 7 months, or somewhere around May 2020. After this there will be no sell wall cap of 2 STEEM per LEO.

The LEO Sinks

The rest of the 27875 tokens burnt are because of the LEO sinks. LEO has introduced a multiple of them.
Here they are:

1. Burn LEO to promote your post
2. Brave BAT rewards
3. Ads on Condenser
4. The Steemleo LABS Project
5. The @steem.leo posting/curation rewards
6. The Crypto Fantasy League
7. The @leo.voter burns a % of the distribution each day
8. The Steemleo Writing Contest
9. Ad Spots on the Steemleo Show Podcast

1. Burn LEO to promote your post

There was a total of 1810 tokens burnt for the purpose of promotion. A total of 154 bids made.

Here is the historical chart on this one.

Having in mind that this is quite a new project, the concept of burning tokens for promotion is working. It is not a huge amount but better than nothing. With time and more users this sink can gain a lot of traction. In most cases burning token for promotion is the main sink for tokens. STEEM was design in this way but executed poorly. Will see how this will go here.

It should be noted that some of them are quite new and will start burning tokens in the future.

2. Brave BAT rewards

Steemleo is a verified Brave publisher and there was one time burning event from the BAT rewards on September 20th. This was a one time event so no history chart here 😊. The 1200 LEO tokens burnt were just for a under a month time operating on the Brave browser. It is expected this to increase in the future, but we will see how it goes.

3. Ads on Condenser

This is also a new sink for the LEO tokens and at the moment of writing of this post there is still no data about it. The announcement post speculated with around 10000 LEO tokens per month.
The ads on web concept is basically what is running the internet and creating money for the web interfaces. This can be a major sink for the token.

4. The Steemleo LABS Project

The Steemleo LABS project is making consultuncy work and proving help for launching a tribe. The custmers to the Steemleo LABS for return for the service are buying LEO token out of the market and burn it. There are 10500 LEO tokens burnt in this way.

5. The @steem.leo posting/curation rewards

All the rewards posting and curation, on the Steemleo main account @steem.leo are burned. A total of 9161 LEO tokens burnt in this way till this date.

Here is the chart.

Almost a 10k burnt from the rewards of the @steem.leo account. This is quite a lot. It turns out this to be a major LEO sink. Also looks like it is a bit on a pause since September the 16th when the last transfer with the memo was made.

6. The Crypto Fantasy League

The Crypto Fantasy League is a in discord trading game that is taking place in the Steemleo discord. It is played on a weekly basis with a fee to participate and the top 3 gets the rewards from the game. A share from the fees is burned. It’s a trading simulator game.
A total of 108 LEO tokens were burned in this way.

7. The @leo.voter burns

The @leo.voter is a bot that first was voting with bids. Send some LEO to the account and you get a upvote from the account. Delegators earn LEO buy delegating STEEM to it. Recently it has been replaced, and is no longer acting like a bid bot, but it is voting on posts created from the Steemleo interface to promote the usage of the web. It has a native SP, and it is burning its share of LEO tokens.

A total of 4553 LEO tokens were burnt in this way. Not bad.
Here is the chart.

Here as for the @steem.leo account seems to have a small pause in the burnings, lately.

8. The Steemleo Writing Contest

The Steemleo Writing Contest took place one time and there is 200 LEO burned for its purpose.

9. Ad Spots on the Steemleo Show Podcast

There haven’t been any tokens burnt for this purpose and this is something that will come in the future.

At the end I want to add that there is 350 LEO tokens burnt from the @leo.bank account that I couldn’t categorize.

The Table

Here is the table for all the LEO burns in categories.

No	Sink	Tokens Burned
1	Sell Wall	600000
2	NoPal4You	100000
3	The Steemleo LABS Project	10500
4	The @steem.leo posting/curation rewards	9161
5	The @leo.voter burns	4553
6	Burn LEO to promote your post	1810
7	Brave BAT rewards	1200
8	The Steemleo Writing Contest	200
9	The Crypto Fantasy League	108
10	Ads on Condenser	0
11	Ad Spots on the Steemleo Show Podcast	0

The Sell Wall is a major contributor to the LEO burning at the moment, but we can see there is a lot of ways for LEO to be burnt.

Some of the potential future sinks are the add program and the brave BAT rewards. Those can contribute significantly for burning LEO.

Monthly LEO Tokens Burned vs Issued

If we compare the tokens burnt vs tokens issued on a monthly level things look like this.

Month	Token Burned	Tokens Issued
Jul-19	306,542	4,591,690
Aug-19	215,073	128,201
Sep-19	206,209	113,854

July is the first month for the token and the airdrop happened then, so it has a lot of tokens issued. But the next two months August and September the number of tokens burned is exceeding the tokens created, meaning that the inflation is absorbed in total. The Sell Wall provides the most of the burning in this months, but we can see that there is a number of other sinks that are created.

They are a solid foundation for the LEO sinks and more burns in the future, that will eventually contribute that the amount of LEO tokens burnt is always bigger than the inflation on a monthly level.

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Report by @dalz