Buying More Leo + Discovering a Crypto with My Name On It ($ROWAN)
First thing's first...
Why am I Buying Leo?
Simple, there is so much going on with leofinance at the moment you would be crazy not to.
The tweet-o-sphere is a buzz with whispers and rumors. An incoming airdrop, the mysterious ProjectBlank and some serious hints at a possible binance smart chain wrapped LEO token within the next few days.
As can be seen in the title image, @taskmaster4450 tweeted that #projectblank has been delayed, but on the same day I saw a tweet from Khal hinting that they were buying BNB as it would become a necessity.
Further hints come in the form of this podcast featuring @khaleelkazi + @dalz, shared on the official @leofinance channel.
The degree to which BSC is decentralized can be debated all day long but there is no question that DeFi has become more and more inaccessible to smaller investors on the Ethereum blockchain due to enormous fees.
Could this mean yield farming on binance smart chain with a wrapped BLeo token? I really hope so, as I've been put off participate in any Defi liquidity farming on the ETH blockchain due to gas fees. A BSC Defi option could be a game changer, providing a cheap alternative to grow your wealth for people who don't hold massive bags of ETH.
Whatever the story turns out to be, one thing is for certain... Leo is hot right now!
I have to hand it to @khaleelkazi, they really know how to market Leo to hive users and to the wider crypto community on twitter.
I have been accumulating Leo over the last month in preparation for the incoming #projectblank airdrop, and have increased my stake from single digits to just over 500 Leo, with more orders on the market as I type this post.
Dollar cost averaging in.
I do have one constructive criticism - it is a little annoying to have powered up the 500 LEO I bought, only to see a delay in ProjectBlank and the airdrop. Especially if a potential staking opportunity arises on binance smart chain, as this Leo is now illiquid and will take some time to power down if I want to experiment with Liquidity pools. It might have been a better idea to keep the project quiet until a firm date was set.
But this is a small gripe, as my Leo stake is actively being used to earn more tokens through curation. Happy Dayz!
Down the Crypto Twitter Rabbit Hole - $ROWAN Token... WTF?
Imagine my surprise when surfing twitter I stumbled across a token with my name on it... literally.
Anyone who reads my creative writing (fiction and poetry) on hive, will see my name at the bottom of those posts with a copyright notice. It's quite an unusual name so I guess it was just a matter of time before a cryptocurrency project hijacked my namesake 😂
They say truth is stranger than fiction, and this is becoming increasingly relevant in this weird and wonderful crypto space.
But what is Rowan Token?
The official description is: A Polyvalent Token for Omni-Chain Decentralized Exchange (DEX).
If you can translate that official explanation fully I take my hat off to you.
As far as I could figure it ROWAN is the operational token for a new DEX (decentralized exchange) that is attempting to work as a layer two solution to Ethereum by bridging it with Cosmos, and other blockchains in the future.
Sifchain launches its omni-chain DEX, enabling true cross-chain value exchange with infinite scale. The BetaNet release brings to production the first Ethereum <> Cosmos network bridge and it will support many more blockchains in the future. Rowan is the native token of Sifchain and its architects formulated incentives for early investors to participate.
The project is in its early stages but they aim to provide the following utilities:
Stake for Commission Fees - Token Swaps - Rewards Through Liquidity Pools
That's as simply as I can put it.
From what I've read on their Medium page, it is another Defi Dex trying to compete with the likes of binance smart chain and Ethereum. Liquidity pools, token swaps and various governance uses, including delegation functionality, do make it an interesting project, but I can't see anything amazingly new or innovative.
To read more check out the official medium article: https://medium.com/sifchain-finance/uses-for-rowan-the-polyvalent-token-for-omni-chain-decentralized-exchange-dex-3207e7f70f02
and to find the right resources for purchasing ROWAN check out the Sifchain.finance FAQ here: https://docs.sifchain.finance/resources/faq#how-can-i-acquire-rowan-and-or-erowan
The dex can be found here: https://dex.sifchain.finance/#/peg
Conclusion on Rowan...
Would I go out and buy a token solely based on it being the same as my name?
Hell no... even I'm not that loopy tunes 😉
This is definetly one of those coins that is a speculative punt for anyone brave enough to throw some ETH at it. The ERowan token has risen from $0.31-$0.72 in the last six days since launch, so it has performed well with the initial IDO launch pump. But these things tend to tumble on down as soon as the first big pre-sale contributor decides they've seen enough 10's of X gains, so now probably isn't the best time for a speculative punt.
I might have a go if it retraces to $0.30-$0.40... after all it would be a story to tell the grandkids if I got rich by investing in my own name 🤣
Thanks for reading.
The title image in this post was designed using a creative commons license source from pixabay.
Nothing in the this post constitutes financial advice. These are my opinions and all investments should be researched and entered into at your own risk.
If you have enjoyed reading this post, please check out my homepage @raj808 for similar content.
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