I like to try things out, trying things out is one of the things that led me here and has kept me in this space for so long, besides the financial implications, its also given me content to share with people, broadened my knowledge through the discovery of many systems that were beyond my normal space, and if it makes me some money alongside, I'm glad all the same.
On today's episode of trying things out, I'm finally going to be dipping my toes into the De-Fi waters.
If you keep up with the happenings in the cryptosphere, De-fi craze is presently the order of the day, provide liquidity on this token here, earn some sort of fees for that there, sadly, its a big boys game, as one has to have enough funds to be able to earn something substantial from participating in this process, not to talk of funds to be expended from gas fees, funds which I don't have, so I've basically only been looking from afar.
Until I came across a post today from LeoFinance titled Opening up a WLEO option for smaller investors and it blew my mind, well not exactly but it got me quite excited.
Basically the idea in the post is that smaller investors like myself will finally be able to participate in this whole De-Fi mania through pooling of funds from various interested investors by contributing a minimum amount of Leo tokens to a pool that will be used to provide liquidity for Leo on Uniswap and in turn LeoFinance will reward every liquidity providers and the program will distribute rewards according to the percentage of each contribution.
This is one of the advantages that have always benefited people in the crypto industry, the opportunity to pool funds together from various participant to achieve a feat that will benefit those participants.
This is the first solution to the limitation of small investors like myself who have been sidelined by their pockets weights in participating in the fun part of crypto this season, even more, large holders with little technical know-how about playing the liquidity game will also be able to participate without having to worry too much about gas fees.
In the post, the plan is to accept a minimum of 500 Leo tokens, pool a maximum of 10,000 Leo tokens and Wrap them into the Liquidity pool, while the owner of the idea keeps 25% of the Leofinance payouts for himself, the remaining will be distributed among contributors accordingly, funds will be sent to spinvest-eth account and the deadline for sending the funds will be on Sept 21st, roughly 2 1/2 weeks from now, I guess there's no better time to accumulate Leo tokens than now. Though I don't have 500leo tokens yet, I hope to before the deadline.
Since this will be done manually, there is the disadvantage of having to trust the initiator of this program but since it is optional, every potential participant have the levity of weighing their options and deciding if they will like to risk it or not.
There are also warnings the post highlighted like no guarantee's, also if the pooling is not able to accumulate up to 10,000 Leo tokens before the deadline, the program will not follow through. For more information regarding the rules of the game please refer to the link of the post!
And interestingly, since this is an open market, we might begin to see other players offer the same service with competitive returns. It will be fun to see this process extend to Hive itself in order to get more people involved.
Like I said in the beginning I like to try things out, trying things out is one of the things that led me here and has kept me in this space for so long, besides the financial implications, its also given me content to share with people, broadened my knowledge through the discovery of many systems that were beyond my usual scope and if it makes me some money alongside, I'm glad all the same, so in essence this is a risk I'm willing to take.
Back in the day when I invested in LeoFinance, it was based on guts and just trying things out, with the recent developments on LeoFinance and its current price action, I wish I'd invested more.
Seeing my Hive holding dip and Leo tokens holding on the rise sure speaks in volumes, however this doesn't mean everything I try comes out ultimately fly, some go amiss by a whole gap, but what will my story be if its not a mix of both sides.
So therefore, this is not a financial advice, kindly DYOR and try not to invest more than what you are willing to loose.
Thank you for reading!
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