LEO Roundtable: Wrapped LEO, Price Predictions, Liquidity Pools and the New LeoFinance Interface Entering Beta

in LeoFinance3 years ago (edited)

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Wrapped LEO (wLEO) is coming and we’re all preparing ourselves for what’s going to happen to the LEO token economy. A lot of LeoFinance users and LEO token HODLers are trying to figure out exactly how to navigate this uncharted territory as we venture out from Hive and explore the Ethereum blockchain, Decentralized Exchanges and DeFi protocols.

This whole DeFi industry is emerging and growing fast. The key is going to be the coupling of fundamental developments with FOMO. As people FOMO into the coins that are listed on Uniswap (which wLEO will soon join the ranks of), we truly need to see fundamental development that warrants the speculative increases in price. Without fundamental developments, you’re just holding a speculative asset that isn’t worth anything outside of the bubble.

As the launch of wLEO gets closer, we’re answering many of the fundamental questions that arise. Users on Hive and LeoFinance are wondering about how to get involved, what it does for the LEO token economy, how the LEO price will be impacted and more.

One of the main questions we’ve been seeing is: What’s the Point of Wrapped LEO? Why would you create an ERC20 token?

Launching an ERC20 token equivalent of LEO has always been in the back of our minds. The way that LEO is currently structured means that the ability for outside investors and potential users to get a hold of LEO and participate in the LeoFinance platform is limited to people with Hive accounts.

By adding an ERC20 token bridge between LEO and wLEO, we're effectively opening up the floodgates to potential investors, users and speculators. At the start, this means that wLEO will be listed on the most popular DEXes like Uniswap and will soon branch out into other protocols like Balancer.

In the medium to long-term, we want to take the 24 hour volume and liquidity pool that we build on Uniswap and use it as a proof of concept to take to exchanges like Bittrex, Binance and many of the other top Centralized Exchanges. We can also do the same with many DeFi protocols — they tend to look for a certain threshold in terms of liquidity and trading volume. Building liquidity and trading volume are going to be the primary focus of wLEO at launch, which is why we’ve initiated liquidity incentive programs.

We talk about all of this and more in today’s LEO roundtable podcast.

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Reading this gives me a stiffy 🥰

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Lol. I wonder what seeing the wLEO Uniswap pair going live will give you 👀

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LOL...that was funny.

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Listening to this, it is interesting to note how the heavy hitters on the Leo Round Table are buying up LEO. There are a bunch of people who are gearing up for the wLEO kick-off.

The goal is to start the process of bringing Leofinance outside of Hive and start to pull people in.

Even a small move, in Ethereum DeFi terms, would create a great deal of money to move into other segments of the overall plan.

Yeah I thought that might resonate well with people in the community. Leadership stems from the top down and I think many of the top members and stakeholders in this community never pass by an opportunity to step up to the plate and support the projects we take on.

Things are going to get very interesting when we get onto Uniswap. The more I talk to friends who are heavily involved in Uniswap and DeFi, the more excited I get about what is likely to happen when wLEO is launched - we have the existing community and stakeholders. We have a fundamentally sound project... it's going to be an amazing launch.

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with the recent movement and ongoing efforts, it's possible one day that LEO will be the hub of finance community in crypto world. :)

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Just finished watching! Raised some good points about wLEO now allowing more buyers to get into LEO. Not into trading stocks really, there was a long bit about that at the end but thats cool! I'll do a video sharing my thoughts on it again soon! Plus, a may have a potential 60k Hive state to leo.voter on my other account coming soon! ;)

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Good stuff @localgrower

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Thank you sir, I've enjoyed watching you on LEO roundtable. I like the fact that you are humble and willing to learn, even though you are very knowledgeable in trading / markets ect.

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Imo, Taking a token from here, over there is just riding coat tails. If the only benefit is higher return for risky trading then that's not good for the system of Hive.

The reverse should be implemented. If you can wrap tokens from here over there why can't this system wrap external tokens/coins here? For example why couldn't someone park a bag of BTC here as some 'HiveHoneyPot' for 7 days, like a loan shark type of deal. With no automation allowed. Only human activity backed engagement.

A community then utilises it for that week for content, benefits greatly from the loan, generates returns for both community and 'loanshark'. Even if BTC drops during that period, they still get back what they put in plus the attained gain converted back. A win win. During a bear market such a thing would be attractive. Which would then make Hive attractive and likely build and attract content creators again and swing the system away from just blind "curators". Because really, if community engagement rises, that is essentially a Hive bull run.

I don't see how taking tokens out of here is going to make any investor say "ok I want to go to that Hive place and play that Hive basic blind voting rewards system where I need to commit to their ridiculously long holding period."

Anyway if it could be done I don't know but I do know that this wrapping thing is essentially just people saying "we're losing out on those DeFi gains" which is actually saying "this Hive thing isn't getting decent gains."

That's already a thing. SWAP.BTC, SWAP.ETH, SWAP.DOGE, etc are all trading on hive-engine. Of course, nobody uses them, which is the problem.

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Yeah because there's no good use ideas and marketing to generate hype. Even users here are calling out coders here for laziness. I don't see steem-engine (renamed to hive-engine) as robust enough either. That SMT was meant to happen long ago. It was too ambitious though because even now it's likely long way.. if at all. Coders get good nectar they don't give a shit.

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Do not miss the last post from @hivebuzz:

Feedback from the September 1st Hive Power Up Day

LEO is really moving moon-wards. I'm keenly following.

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