How to Wrap LEO into WLEO

LeoFinance
29 days ago
(edited)
4 Min Read
702 Words

▶️ Watch on 3Speak


How to Wrap LEO.png

In this video (and written) guide, we'll walk you through the steps of wrapping LEO. It's a deceptively simple process. While it may sound complicated, there are only 3 real steps when it comes to wrapping LEO from Hive into wLEO on Ethereum.

Step 1). Go to https://wleo.io and enter your Ethereum address in the "LEO to WLEO" field

image.png

Step 2). Hit Submit, Then Enter the Amount of LEO You Want to Wrap

image.png

We recommend wrapping at least 250 LEO (~$30+) because of gas fees. Depending on when you send your wrapping transaction, the gas fees could be anywhere from $0.40 - $5. This gas fee is a flat fee, so sending more LEO to wrap won't scale up this portion of the fee to wrap.

image.png

Step 3). After Confirming Your Amount, You'll Be Prompted to Confirm Your Transfer of LEO Tokens to the @wrapped-leo Hive Account:

image.png

If you have Hive Keychain installed on your browser, then it will default to opening a Keychain transfer prompt. If you don't have Hive Keychain, then it will prompt a HiveSigner operation to send your LEO to @wrapped-leo with your ETH address in the memo field.

Step 4). (Optional) Add the WLEO Token Contract Address to Metamask to Track Your WLEO Balance:

Open Metamask, Then Hit "Add Token"

image.png

Copy the WLEO Contract Address Into the "Custom Token" Section (it will autofill the Token Symbol and Decimal Precision:

image.png

Use Your New Wrapped LEO!

Whether you find your new token balance in Metamask or in Etherscan, Uniswap or elsewhere, you'll see your WLEO balance update typically within 1-5 minutes of your LEO transfer on Hive.

image.png

If you don't see your balance in any of these places, then check for your Hive-based transaction on https://hiveblocks.com/@wrapped-leo. If your TX didn't go through (for an unforseen error - usually due to the send amount being too low), then you'll see a refund transfer back from @wrapped-leo to your Hive account with a reason specified in the memo.


That's a Wrap!

Wrapping LEO is a very simply process. You're just taking LEO that you have on the Hive blockchain and sending it to @wrapped-leo with your ETH address in the memo field. The https://wleo.io site faciliates this process by providing a front-end for the transfer, but you could do this from any site that allows you to send LEO to @wrapped-leo with a specified memo (like LeoDex, LeoFinance or Hive-Engine).

Once you have wLEO on Ethereum, it's up to you what to do with it:

Becoming a liquidity provider means that you combine your WLEO with an equivalent amount of Ethereum (in dollar terms) and then deposit both tokens simultaneously into the Liquidity Pool on Uniswap - this allows you to earn ~18%+ APR from fees in the liquidity pool on Uniswap (depending on the daily trading volume).

In addition, we have an LP incentives program where 300,000 LEO will be airdropped to LP's over the next 90 days. The balances are updated daily to reflect LEO earnings and then are distributed either to your Hive address (if it's linked) or to your ETH address as WLEO. Read here for more details about the incentives program.

 
steemleo black token divider.png
 

Join Our Hive Community & Earn LEO Rewards!

Earn LEO + HIVE rewards by creating crypto/finance-related content in our PeakD community or directly from our hive-based interface at leofinance.io or LeoFinance Beta

Track Hive DataNew Interface!About Us
HivestatsLeoFinance BetaLearn More
Trade Hive TokensWrapped LEOHive Witness
LeoDexTrade on UniswapVote

Follow @leofinance for official updates


▶️ 3Speak

Posted Using LeoFinance Beta

This post was archived on the new wLEO Explore Page