https://leofinance.io/hive-167922/@leofinance/wrapped-leo-important-updates
We've been talking with some people who are more heavily involved in Uniswap token launches (non-Hivers) and have received a lot of great advice since that original wLEO announcement of an announcement post was released about 3 weeks ago.
Now, LeoFinance will post $25,000 USD in LEO as part of the official team commitment. We'll match this with $25,000 USD in ETH - bringing the total commitment from LeoFinance to $50,000 USD as the starting amount in the wLEO-ETH liquidity pool.
It's also been advised that we lock our liquidity in an ETH smart contract.
We will likely lock the entire $50k in a smart contract for 1 year.
Great news, it shows a big commitment to those outside of the space that want to yield farm but aren't totally sure if they can trust the founders to not pump and dump exit scam. Locking liquidity for a year when the bounty last three months is a pretty good start.
The official team commitment of $50k will be excluded from the 300k bounty rewards pool.
More great news, I was wondering about this. We will not have to compete with the founder's huge stake when it comes to yield farming. Something as simple yet crucial as that could generate a lot of hype. The yield will be extremely high compared to how much total liquidity is in the pool.
If we are unable to link your Hive account to your ETH address that you're providing liquidity from, then we will send your bounty payouts as wLEO straight to your ETH address.
if you get paid out on Hive, then your rewards will be distributed every 2 weeks for 90 days with 0 fees. If you're paid out on ETH, then your rewards will be paid out every ~4 weeks and will have a small fee taken out to pay for gas (it's roughly 4 weeks and a small gas fee because we will choose a time to distribute when ETH fees are low. So 4 weeks give or take 2-3 days).
This actually gives people on Hive a bit of an advantage, being able to get a yield farming payday twice as often as users farming on Ethereum alone. The bounty lasts 3 months, so that's only 3 paydays for ETH users and 6 for Hive.
My strategy
I'll be providing some liquidity to the pool and farm it. Looks like we might generate quite a bit of hype if random Ethereum farmers start jumping in. Leo is about to get a whole lot more volatile. I'll be trading the market accordingly... at least trying to that is. More info to come tomorrow.
Really loving the mentality behind these decisions. Very exciting that we won't be competing with the founders, for that 300K LEO. Just one more powerdown to go.
In a tired state - I accidentally powered up what I had powered down to take part.... doh. Had to restart the powerdown :/
Thanks for sharing your thoughts @edicted! (:
Do you think the success of the wLEO launch depends on how much those currently outside of Hive participate in it?
Posted Using LeoFinance
no it depends on speed of development connecting to other defi dapplications
Thank for message
Waiting for tomorrow
Today is the great day.
Posted Using LeoFinance Beta