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. To date, the leu has lost 5.6% of its value each month.
Starting July 1, 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. Thus, current acceptors 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 cooperation 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.
We would like to inform you that the time of the meetings will change at the beginning of August. Currently we are planning to move the meetings from 12:50 to 18:00. You will find out the exact date when this will happen. This is primarily to allow access to income for those who are unable to attend the meetings due to other commitments such as work at 12:50pm. This way, you can take advantage of your off-hours and at the same time enjoy the benefits of our local currency.