It was @acesontop who recently introduced this kind of short form question & answer engagement post on LeoFinance. I think it's a grand idea. Soon we will have a short form LeoFinace section for exactly those types of posts.
As some may be aware, I entered a Balancer LP shortly after the attack on the wLEO V1 Uniswap LP. Though it's a small position, I've been collecting BAL outside the LP for the past month.
As it stands, my yield comes to just under 1 BAL token. I have another 0.325 BAL waiting for collection from this past weeks yield. By Wednesday of next week I should have a similar yield.
Should I Swap My BAL Yield For wLEO?
The answer seems to be an obvious no, taking into consideration today's gas fees. I declined the MetaMask transaction when I saw the $5 fee. But what if gas falls and I can get a better rate?
It seems I should wait until next week if I wanted to make that swap anyway. I'll have close to 1.65 BAL to swap by waiting a few more days.
Check the screenshot below of the transaction details for my BAL to wLEO as it stands right now:
With the tap of a tab on Uniswap and another in my MetaMask wallet, I could receive around 61 wLEO for my BAL. The gas has actually come down from the $5 plus worth of ETH it showed an hour ago. See below:
That's about two dollars less in fees than it was before. What do you think? Should I make the swap now, later, or Hodl?
Thanks for your time and I appreciate any input.
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Posted Using LeoFinance Beta
So much gas...
Don't know about you, but I'm swaping every earned coin to LEO, not WLEO, but the idea is that the project is definitely worth investing.
Posted Using LeoFinance Beta
It is a lot of gas. That's why I think I should buidl it up first a bit more. I could always move wLEO back to LEO in my wallet, but then there are more fees that come with that as well.
My other option is to save up some more BAL and add to the liquidity I have in the pool. That would yield more BAL.
Posted Using LeoFinance Beta
I think that if you swap inside metamask wallet fees are much higher than on uniswap.
Posted Using LeoFinance Beta
Hmm. Can I do that? I thought I had to use MetaMask to connect the two AMM's. wLE0 pool is on Uniswap and BAL is on Balancer. Idk?
Posted Using LeoFinance Beta
I don't know how this works. I just noticed that fees on metamask are very high.
Posted Using LeoFinance Beta
I'm learning everyday myself. Maybe there's a better, less expensive way to swap? From what I'm reading about Thorchain, that may be the way to go. Signing up for Binance has some jumps for me here in the USA, but it might be worth the time. I'm always eager to learn more. 👍
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I can't advice you about that because I don't know Liquidity Providing Rewards percentage Wrapped LEO accurately.
Posted Using LeoFinance Beta