wLEO Q&A: How to Navigate the Big Changes Coming to LeoFinance In the Coming WeekssteemCreated with Sketch.

in LeoFinance •  17 days ago  (edited)

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The LeoFinance community and LEO token economy are undergoing some major upgrades in the coming weeks. We’ve announced that tomorrow will mark the launch of the new LeoFinance beta interface - featuring the Hive blogging UI that we’ve built from the ground up.

Shortly after the new interface launches, we’ll be launching the wLEO token on the Ethereum blockchain which we’ve mentioned in a few posts already. The wLEO launch is highly anticipated and a lot of people are either very excited about the launch or very confused - and in most cases, a bit of both.

As Hive users, we are all very accustomed to what the Hive blockchain offers us. While this is great and there are a lot of opportunities here on Hive, it is more important now than ever before that we branch outside of Hive and venture out into the broader crypto space.

Coinciding with the finance and crypto theme of the LeoFinance platform, it’s important to go out where the crypto people are living to capture their attention and bring them back to our website (and ultimately, the Hive blockchain). One of the best ways to do that is to branch out into Ethereum and ETH-based applications.

DeFi is ramping up and so are the number of ETH users out there. wLEO is an ERC20-equivalent to the LEO token that bridges our Hive-based token to the ETH-based token. This will allow us to capture a wider net and attract new stakeholders that don’t have a Hive account and instead hold an ETH address. It will also allow us to get listed on the most popular DEXes in the space as well as many of the top Centralized Exchanges like Binance, Bittrex and others.

This move is going to expand our community in ways that were previously imaginable only under the concept of full-fledged SMTs and exchanges agreeing to list the SMT protocol. That was one of the core future goals of LeoFinance and an SMT is of course still desirable. Now we get to have our cake and eat it too by creating an ERC20 bridge via the wLEO token.

This will allow our community to reach beyond Hive and capture the attention of the crypto space while also encouraging those new investors, users and speculators to join our platform and start engaging on Hive through https://leofinance.io.

In this episode, @taskmaster4450 and I run through some of the top questions surround wLEO and many of the other developments surrounding the LeoFinance platform:

  • What’s the value of a wrapped LEO token? (0:03:51)
  • Why would anyone on Hive use Ethereum? (0:06:28)
  • People under appreciate the development and activity on the ETH blockchain (0:07:52)
  • Liquidity Pool Incentives and airdrop details (0:15:44)
  • Mid to Long-Term vision for wLEO (0:21:18)
  • How does this help the overall LeoFinance ecosystem? (0:35:26)
  • Will wLEO get listed under other DeFi projects? (0:38:05)
  • New investors buying the LEO token (0:40:20)
  • New Hive-based blogging interface: confirmed launch into open beta tomorrow (0:50:58)
  • wLEO is a long-term value add for the LEO token economy and LF platform (0:57:44)

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Posted Using LeoFinance Beta

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Great news and the entire community is trembling for what is to come. The momentum needs to be kept up and the Leo Finance ecosystem boost with new features and web releases in order to keep up with the community support and possibilities of interfacing with the ETH world.

Posted Using LeoFinance

creating an ERC20 bridge via the wLEO token.

Way forward:)

Ps. Loving the New Hive-based Leo blogging interface

Posted Using LeoFinance

great progress

Posted Using LeoFinance Beta

Great news. So glad to be a part of the LEO community. Looking forward to the new updates and good to see us making advances and moving forward!

Posted Using LeoFinance

uffff.... that was interesting. :)

Posted Using LeoFinance

Hi @khaleelkazi
Congratulations. I have been thinking about this and after reading @fsbo ? Article about wrapping Hive I read this and other articles about wrapped Leo.
I am very happy to see this being done. It gives us hope and encourages us to keep learning and exploring so we can determine our own fate by creating our own DeFi opportunities, by building our own bridges into DeFi. I hope your venture is very successful. How do we get into this besides Spinvest?
Thanks

Posted Using LeoFinance