Uni party, Wrapped Leo danger

in LeoFinance9 months ago

Today Uniswap came out with their UNI token

Anyone who ever used uniswap is entitled to them and can just claim them from the pot. So far over 13000 users have done just that.

But this has an added side effect. The transaction will take roughly 4 hours and the Gas cost is close to 17 dollars

For me I do not really mind the gas fee and I guess most people do not either since the UNI token is going for over 3 dollars if I were to sell. I guess the price is going to go a bit higher so I am hanging on to mine for now but a 1200 dollar airdrop is nothing to sneeze at.

The disadvantage here is that this is the day @khaleelkazi chose to launch @leofinance and wLeo on uniswap as well. Now, he could not have known this as the UNI launch was really sudden and I guess accelerated due to the whole Sushi war.

Even though the bounty of 300000 LEO is also nothing to sneeze at I am not putting 400 dollars of tokens in there to pay 32 in gas fees. (once for the leo and once for the ETH)
That would eat into the profits to much. The question is now when the network will settle down a bit in order to be able to wrap the leo and add the eth with reasonable fees.
I am really Bullish on LEO and expect the token to do great in the long run but the launch moment could have been better.

What is everyone else doing?

  • holding of a bit (like me)
  • not wrapping anything
  • providing liquidity anyway
  • Leo what?

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I think the better option is just to wait a little.

Everything will 'stabilise' after a couple of days though.

same thing I am doing... lets hope the stable amount is not to high

Posted Using LeoFinance

What @empoderat said I think!

There is also the option of going into the Spinvest pool of course.

Posted Using LeoFinance

true, might have to look there

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It's the easiest way for sure.

Leo launch should be postponed I believe

yea I just read... I think thats the right move here

I'm reading this a bit late, but we did end up postponing the launch.

"Even though the bounty of 300000 LEO is also nothing to sneeze at I am not putting 400 dollars of tokens in there to pay 32 in gas fees. (once for the leo and once for the ETH)

That would eat into the profits to much. The question is now when the network will settle down a bit in order to be able to wrap the leo and add the eth with reasonable fees."

This was the exact thinking in the delayed launch. Better to pick a day when the Uniswap crew doesn't launch a bomb on the ETH blockchain :)

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wise decision you made there... looking forward to becoming an LP

 9 months ago Reveal Comment

well, I am just glad to get 1000 bucks for free

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