12.05.2023
Demurrage
Demurrage is an integral part of the leu project. Since all members of the community generate money on a regular basis and this would lead to inflation if not counteracted, the leu continuously devalues. The demurrage is about how the leu is used and how it is distributed in the local economy. So far, the leu has lost 5.6% of its value every month.
From 1 July 2023, we will reduce the demurrage, which is the fee charged for holding the leu, to 0.82% per month. This is equivalent to 9.43% per year or a half-life of 7 years. This means that the fee for holding the leu is no longer as high as before. This means that current acceptance points will be relieved. For those of you who are users, it means that your leu will not melt away as quickly. We will increase the demurrage again once we have a larger network of acceptance points. This step has been taken in collaboration with our pioneer trades.
If you have any questions or uncertainties, please feel free to contact us via info@leu.zuerich or on our social channels.
Cycles at 6pm
We would like to inform you that the time of the meetings at the beginning of August will change. We are currently planning to move the meetings from 12:50 to 18:00. We will let you know the exact date when this will happen. This is mainly to allow access to income for those who cannot come to the meetings due to other commitments such as work at 12:50pm. This way you can make the most of your free time and at the same time enjoy the benefits of our local currency.
