LeoFinance is about to tap into Polygon with (pLEO)

in LeoFinance2 months ago

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DeFi is a huge and growing industry. It's had two major setbacks in the last 2 months due to bad actors rug pulling and the market taking a 50% dip with countless FUD to back it up. However it looks like we are starting to exit that fear stage and go back into hope as news coming out has been more positive about the crypto markets.

This along with other factors such as lower fees are starting to turn DeFi around again into a positive light. More trusted DeFi platforms such as CUB and Pancake are taking front stage and soon will be a new edition called Polygon.

I wrote a bit about Polygon here

https://leofinance.io/@bitcoinflood/a-better-understanding-of-the-crypto-polygon

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In short Polygon is a newer type of block chain that runs on validators over a fully decentralized system. It's back by the likes of Mark Cuban who's building dapps such as NFTs and yes even DeFi into their platforms.

The marketcap of Polygon sits a respectable 15th place a 10.6 billion dollars. A sizable market cap for a crypto that doesn't yet have many use cases and dapps built on it. Polygon as far as I can tell does have 38 DeFi platforms it's currently on putting it at roughly 15% of the DeFi projects on Ethereum but nearly tied with Binance Smart Chain. It also recently started getting NFT platforms launch those of their own. It's going to take some serious work though for Ploygon to really take off as it's going to need the Hype and news worth content that Ethereum gets in order to start really spring into action now that it has some dApps in place.

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pLEO Another Wrapped Token

LEO currently is connected with Ethereum and Binance smart chain in the world of DeFi. It allows LEO token earned on the blogging platform here to be wrapped and traded/used on Ethereum and Binance. The thing with Polygon is it's simply a layer two of Ethereum making it a rather easy system to connect into and start using. The ability to swap between Ethereum, Binance and soon Polygon on Cub itself will lead to some interesting things.

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Above is a screenshot of the twitter posts from LeoFinance and the mention of pLEO. You can follow them here > https://twitter.com/FinanceLeo

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Good new, indeed!

I think that creating a bridge between ETH/BSC/HIVE and Polygon would be awesome. I'm not so familiar with Polygon but from what I have heard it's not so easy to get money onto it.

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It's a Ethereum token again so ERC-20 2nd layer. You still pay the high fee to transfer into Polygon and back out but any transactions that take place within Polygon are fast and inexpensive. The contract connections to Ethereum from Polygon over time should allow for larger smart contracts to be pushed through so instead of one person paying the one off transaction fee it could be coupled together with others allowing you to pay much less of the fee for transferring out or in.

Still much in development and being built on but it has promises so would be cool to see it on CUB for marketing potential as well as one of the first use cases of the token as it grows which should use the Bridge and swap more in that case.

Only way for now to tap it into Hive is by using a wrap of the token. It's complicated and not ideal by any means but its the best that can be done for now.

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There are a lot of bridges taking place. It will be fun to watch all this stuff rolling out.

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Leo team seems doing really well. I like that much development they have.


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Development is always a good thing. While some projects might fail that's just the nature of business. It's important to keep learning, adapting and growing the business. LEO does this well.

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A good piece of news. The platform just keeps expanding. We are watching a brand being developed before our eyes.

This is going to bode well in the future. Those that establish themselves by taking the long term view should do exceptional.

Cubfinance (Leofinance) is such a project.

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Just bought me some more Leo!

I heard rumours of an airdrop any news on that?

Not that I'm aware of not sure how that would really work either as it would just be a new connection method. I guess in a way getting CUB was a Binance type airdrop, wLEO I don't think was airdropped but I could be wrong. Will update again if I find out more details and a yes or no answer.

I have always thought that every new project is good to study, because you can get very good benefits, as the market is nowadays it can be a good opportunity to create this bridge and connection between Leo and Polygon.

That would be a great one from leo. It also gives me an opportunity to learn more about how the polygon/matic network works


Posted via proofofbrain.io

This is the most exciting thing I have seen today, as LeoFi is evolving to take better advantage of everything in its environment, and although it is not getting the recognition it needs now, I know that when the time comes it will explode.

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That's some really good news. I've been seeing a lot about Polygon here and it seems a lot of people on Leo finance are crazy about it.

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