If you need information about wLeo 2 I suggest reading the announcement post. I am not going to go into details on how to use or get involved with wLeo 2 as there are a lot of resources already.
wLEO 2 is a contract on UniSwap that allows for swapping Ethereum and wLeo (wrapped Leo). Wrapped LEO is just LEO but wrapped as an Ethereum token so it can be traded on UniSwap. Many tokens have wraps like this including BTC as wBTC, this allows it to be swapped either other Ethereum tokens via UniSwap.
I am really impressed with how easy @khaleelkazi made the process with the deep integration into leofinance.io.
The idea behind wLeo is to provide more liquidity so those want to trade Leo can do so without greatly affecting the price with every trade. More importantly it is also to provide an easy way for new investors to buy and trade Leo even without a Hive account.
Like most popular UniSwap pools, there is an incentive for providing liquidity. Moving forward the Leo reward pool will be reduced to support an additional reward pool to provide sustainable incentives for providing liquidity to the wLeo pool. The longer you provide liquidity, the more your liquidity will be rewarded. By providing reducing the proof of brain pool and adding a new pool to support wLeo incentives the inflation of LEO is unaffected.
I did some fiddling around with the incentive simulator and noticed providing liquidity for just 120 days will give you more than 5x the rewards. This encourages users to provide liquidity for a long time and not just for a short initial incentive period a lot of pools have.
Speaking of incentives, wLeo rewards liquidity providers similar to other incentivized pools but without the need to stake liquidity pool tokens. I really like this as it reduces the complexity and transaction fees required to be involved. I have found from Reddit discussions that liquidity tokens are the most confusing and misunderstood part of UniSwap.
You have 48 hours to jump in the wLeo liquidity pool and get credit as being in on day one due to Ethereum issues there is now a grace period for wLeo 2. That being said, I only paid 27 cents to approve the contract and 73 cents to provide liquidity. This is considerably cheaper than I expected with the recent spike in gas fees.
With wLeo 1 I gave it a lot of thought and decided I did not want to get involved for multiple reasons. With the wLeo 2 changes, I decided it was in my best interest to get involved. wLeo 2 is truly an improved opportunity over wLeo (1) in many ways. I believe this so much I bought wLeo on UniSwap and tripled my position in the pool and raised the price almost 10% in the process.
Why you should vote me as witness
Posted Using LeoFinance Beta
PUMP IT
Posted Using LeoFinance Beta
Welcome to the pool.
(Nice pic, btw)
Let's have a fun of swim.
Posted Using LeoFinance Beta
this is really a good development because it will really attract lot of positive thing to leo as a whole and giving people access to grab some leo token even without been an hive user is really a good one. in my own part liquidity is still very confusing to me, still trying to gather adequate information on it because it serve as a mean of investing also. glad you are in already
Wow you lucked out with the fees there!
Or are those transactions still............................................................................................
pending?
Posted Using LeoFinance Beta
They completed really quickly, in fact when I bought some more from UniSwap it was much slower than this morning when I first got into the pool and the fees were more than twice as high.
The funny thing about ETH is the less you pay in fees the quicker your transaction usually finishes (as high gas times it is congested).
It's kind of like Bureaucracy in Portugal - if you luck out and get a nice assistant, you get what you need no problem, if you get someone whose a bit of an ass (probably because they have a miserable life) you get sent on the runaround and get nowhere.
How quick you get something done is just luck of the draw I guess.
Now there's an idea for a really simply post to knock out - and people DO seem to like 'ETH WHINGE' posts too!
Posted Using LeoFinance Beta
OK... you sold me, I'll throw 500 Leo and some ETH back in the pool. I was made whole by @khaleelkazi after the hack and maybe even came out ahead with more Leo than I should have, so I'm a big supporter of what they're up to.
How much reading did you spend to get into WLEO, I'm just getting started. But I would like one future to participate in this project
Posted Using LeoFinance Beta
Not much, I already have experience with UniSwap.
FTFY
???
Is this similar to what @aggroed is having built on hive-engine?
Does the liquidity providing work similar?
I am not sure what @aggroed built, I haven't looked, but I assume from what little I have seen he is trying to build something similar to UniSwap to take advantage of the Defi craze.
Lest have fun
뒈져~!