Is LEO Hive's best dApp?

in #hive-16792215 days ago (edited)

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I am sure by now you have heard about about the wLEO Hack that happened last week. A very unfortunate event with extremely poor timing. The events are still under investigation as to what happened and how.

I am not going to spend time dwelling on it, it sucks but the LEO Community is strong and has been showing good spirits as LEO bounces back. You can't knock a good thing down.

What is so great about LEO Finance?

Outside of #Hive, crypto is the most common interest among Hive users. We are all here because of crypto and most everyone has a lot of interest in it. If Hive is going to thrive, we need active and engaged niche communities. In a perfect world, we would have 1,000 communities like LEO Finance.

LEO Finance is a great onramp to Hive, onboarding users to Hive is the most important critical activity to Hive's success. In business I have always repeated the saying If you are not growing, you are dying. This is even more accurate for crypto projects and social media platforms.

LEO Finance has streamlined the onboarding process with help from Hive Onboarding and now even offers the ability to sign up via MetaMask.


Leo Branded Onboarding

LEO Price

LEO Finance's token price is one of the biggest reasons everyone is talking about LEO Finance right now. It is currently selling for more than 1 Hive and was approaching 2 Hive prior to the hack. Even after the hack the price has rebounded to near pre-hack levels.

LEO is usually in the top three tokens on Hive Engine for daily volume making it one of the most popular 2nd layer token on Hive Engine.

@khaleelkazi's vision

One of the things I love most about LEO Finance is @khaleelkazi drive and originality. LEO Finance is a Hive Engine Tribe run by @khaleelkazi. @khaleelkazi has continued to do what no one else is doing.

LEO was the source of multiple custom updates to the Nitrous interface Hive Engine Tribes use. Recently LEO has taken the leap of faith to developer their own custom front end giving them complete control of the user experience on LEOFinance.io. This was an impressive achievement confirming @khaleelkazi's dedication on taking it to the next level.

LEO Finance Energy Levels

I have recently spent some time recently in the LEO Finance discord server and the energy is amazing. One user has almost $100,000 USD worth of LEO powered up and manually curating LEO Finance content. On Hive he would be considered an Orca but on LEO Finance he is a legitimate whale.

As a Tribe owner myself, I know how difficult it is to get people to be interested. LEO Finance not only has people interested, but they are passionate and they care about the state of the community. One of the things I did differently when I built STEMGeeks is to focus on keeping the community clean and on topic, something that is mainly handled by myself and official STEMGeeks curators. LEO Finance has a lot of users who taken it upon themselves to keep the community clean. Is it perfect? No. I frequently provide names to the team that are abusing LEO Finance, and they are quickly dealt with. The high price of LEO attracts more abuse, something Hive has always suffered with.

I really hope Hive can get to the point where we have hundreds of thriving communities like LEO Finance.

This post was written while listening to Guardian's of the Galaxy Soundtrack

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One of the things Khal understands and many haven’t really gotten to yet is that (user generated) content alone isn’t sufficient to support a token. Khal has built a toolkit (LeoDex, LeoPedia, HiveStats) and keeps shipping constant new updates.

Don’t be surprised if some day (after few hundred Metamask signups) Leo introduces a GAS fee calculator or similar tools. These are underrated “growth hacks” and Khal has understood the importance of those.

Leo members just aren’t offered any time to let their energy drop, all while Khal keeps growing his traffic sources (and thus ad displays, as well as signup funnels). And everything is constantly linked.

Is Leo the best dapp? Without meaning any offense, in the land of blind one eye is king. There just isn’t anything even remotely close on Hive to Khal’s efforts and visions, and most of all to his constant delivery.

Conversations took place a while back where the idea of growth was put front and center. While others look for easy solutions that help token price, like burns, Leofinance put the effort into focusing upon growth. There was a conversation after it was announced to reduce the inflation rate where it was realized that growth is more important than inflation.

As we saw with wLEO (and still with LEO), few are aware of the inflation rate nor do they care. They are buying the token because growth, based upon most of the metrics provided, is taking place.

Even a hundred active users signed up through metamask would be a major lift.

Posted Using LeoFinance Beta

Burns are a gimmick. To stick with the land of the blind metaphor, they're a tool by the blind for the blind.

Besides, if ad revenue keeps increasing there's definitely many better ways to use that money to Leo's benefit than by burning few thousand tokens, probably less than the daily inflation.

User acqui is not free. Whether that is by creation of organic signup funnels, they need to be developed, or by advertising, in 2020 people don't come anymore just because you built it.

I agree that burn is gimmick unless it's coupled with other actions.

The XLM burning was largely useless.

https://dailyhodl.com/2019/11/05/team-behind-stellar-destroys-55-billion-xlm-will-ripple-burn-xrp-in-response/

It only created short-term speculative price increase. In the end, it actually centralized the network more as the team now holds a higher percentage of the coins.

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

While I generally agree burns are useless (unless they are systematic, marketed, and large) in LEO's case he is buying tokens off the market place and then burning. So it is not only burning, it is also creating buying pressure.

I guess the “taking the weak hands out” is the best aspect of most of the burns we see in tribes.

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

I see it more of being somewhere between a tribe and a DApp, but there is no denying that LeoFinance is quite popular as far as Hive communities go.

The "tribe" aspect is going to be reduced as time goes by. The next version of the interface (not the one today) will see more features that move it away from a tribe and into an application that people will be using.

Posted Using LeoFinance Beta

I want to see the entire social aspect removed from Hive and turned into a dapp via a smart contract. I believe it is the only way Hive can take off.

The social aspect will be one of the many dapps available. There can even be multiple social dapps that have their own reward pool and front ends.

I'm not so sure that's a great idea, Hive's social aspect makes it unique among all the hundreds of coins out there. What you're describing would turn Hive into another Ethereum, and we don't need another Ethereum.

There's no reason why we can't retain the social aspect and implement smart contracts though, I've said before that it would be nice to see Hive-Engine become part of Hive's on-chain features, and have the ability to deploy your own code as well.

Ethereum without fees and scaling problems. That would be a godsend to most projects.

We wouldn't lose the social aspect, it would just be containerized into a dapp.

Well Summarized.
I happened to see the drop in price live but it really rebounded and its gonna go moon. The best part as you also described it team dedication to the project.

Not sure if it's the best, but I'm sure that has the best vision of crypto and the LEO role in that :)

One user has almost $100,000 USD worth of LEO powered up and manually curating LEO Finance content. On Hive he would be considered an Orca but on LEO Finance he is a legitimate whale.

Pretty sure he'd be a whale on Hive as well.

$100K worth of Leo = ~ $100K worth of HIVE ==> ~ 600K HP

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I am referring to his 89K Hive, which makes him an Orca.

Oh...thought you meant that if he had spent the same amount to buy HIVE...anyway, my bad :P

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Everything you've stated here is what really gets me interested in LEO. Once wLEO returns, we might see it over $0.5 cents and perhap $1 in the near future. Cheers!

It might be a while before wLEO returns. There are security issues that need to be worked out and in place before that is even approached.

However, there are still a lot of updates to come out and that could really foster some incredible growth. This will likely affect the token price, especially as the Leo team keeps putting out numbers on where things stand.

Posted Using LeoFinance Beta

Thanks for the additional info and updates. I hope that the things we need to kick off again are put in place as soon as possible.

It might be a while before wLEO returns.

Things move super fast in Leo-land :)

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Posted Using LeoFinance Beta

Many apps are good @themarkymark, and especially yours has a great potential, perhaps the difference is that people who love science are not very interested in social networks, most are focused on their work in universities, schools, laboratories or some other company, no doubt the public lover of technology is very broad and the web is thousands of pages about technology in which these people spend time. I believe that success is in attracting these people to the blockchain and making them understand that apart from having fun they can earn money by sharing their interests, which is what differentiates us from LEOfinance which is a page for cryptology lovers and the public has been growing and although it is a minority in comparison to people who like science (speaking in terms of global scale), crypto goes hand in hand with social networks and in conclusion that is why they attract more attention and have more active users.

I wish I could get more users to use STEMGeeks, but we just don't have a big STEM crowd here. I have been looking at ways to get in touch with schools and universities with STEMGeeks but I need to do a few things first. I wanted to have it done before the next Hackathon but it doesn't look like it.

@mobbs and me had a good plan and a roadmap for this, i.e. to attract STEM enthusiasts in schools, high schools, universities and anyone who likes science regardless of whether they are professional or non-scientists, mostly aimed at students. :(

But then everything was left in plans and nothing could be applied and in these last months of the pandemic it was the right time since all the people were at home with their computers and doing everything digitally.

It is a difficult time to do much of anything to be honest.

The concept was always, in my mind, fairly easy to initiate, at least an on-the-ground test with a couple of schools, for example. The limitation is the way the whole platform exists: complex, longwinded, convoluted sign up processes, crypto ROI, yadda yadda.

People run away just hearing these things from 20km away. It can be done, but it needs some kind of professional marketing.

The rest, at least as far as my idea went, simply requires a rather basic front end.

everything is complicated, but then we will have time to work on it

And, the STEM team managed to scare away very few people who wanted to join their community and be active. It seems they want their standard set very high so that it's not even open to new users who are trying. The modality should be quite opposite- be open to new users and let them grow in the platfor.

Posted Using LeoFinance Beta

Yes. Disclaimer: I am totally unbiased

Time to think about community resilience. Unfortunately, by far, there is no clear way to prevent the hacking tragedy in this connected world. But at least, being resilient is something we can manage. LEO should be the exemplar!

Sign up with metamask. Wow that is a bridge for eth community to hive community. Leo will be the next dapps that have real and active supporters. Leofinance as the supporter based can be free agents to promote by their contents. Well leo boom just a matter of timem

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Awesome, thanks for all the hard wokr you doing, you really pushing it out there

I like Leo Finance

Yes, it would be awesome if there was a hive second layer that included dozens if not hundreds of communities like LeoFinance.

LeoFinance is definitely a great example of what one CAN do with a community, but it's also a great example of the simple reality that it takes an extraordinary level of work, dedication and persistence to get things really going. Sure, the community has a very clearly defined "target," which is a big plus, and certainly an important starting point. I never understood "general" communities — they just come off sounding like a thinly veiled cash grab.

But I digress... @khaleelkazi and crew have done an outstanding job of constantly building, adding features, adding value and utility. Take an extension like HiveStats... it's a very serviceable replacement for the much loved "SteemWorld.org" we used to have; but the bonus is that it serves a market (all of Hive) outside just the LeoFinance community.

Your own STEMGeeks community has plenty of potential because you already have two of the essentials: a clearly defined purpose, and actively involved leadership. Oh, and a relatively limited number of tokens. And you also have relevant subject matter in the sense that STEM topics seem like a really good angle to use to broaden the entire Hive user base in the realms of non-crypto, non-blockchain.

I could go on, but will refrain, for now.

=^..^=

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Messaged you on keybase:)

Messaged you on keybase:)

Messaged you on keybase:)

If Hive is going to thrive, we active and engaged niche communities.

???

That sentence doesn't leave you hanging?

Yes, either the word need is missing, or the second half of the sentence is not there.

I see what you are saying, I was missing need.
Fixed, thanks.

Messaged you on keybase:)