Yes, I don't have a large stake on the wLEO-ETH uniswap pool. Yes, I paid almost 30$ on gas fees for the total of 222 USD worth of my wLEO and ETH assets. Yes, I am not a Leo Whale and chose to take part on the pool instead of powering up and get rewarded from curation. I did all of this. Still, I am happy :)
And, the reason for that is to witness the account growth I had in a week since I jumped in the bandwagon to support the #leofinance platform. I published a post to describe why I did it ( you can read it here).
In a week, the pool participation netted me a 29% increase in total asset value. I invested 222 USD six days ago which included 810 wLEO and 0.35 ETH aprox. After all the swap volumes we saw on the platform for a week, the total asset I have is 287 USD. The increased value is due to the rapid rise in wLEO price which is around 0.21 at the moment.
I have 706 wLEO and 0.4 ETH at the moment.
I am getting a hang of becoming a liquidity provider and the benefit it may bring to you. If you have a token pair like that of wLEO and ETH, it is definitely beneficial to be the LP. More ETH in the pool means you have a valuable token in the portfolio and increase in wLEO price. Increased wLEO price will give you more ETH.
After this experiment, I am inclined to try out other token pairs out there in the market. This learning also suggest that the investment should at-least be justified in terms of gas fees. If the total investment is lower than 500 USD, the investment may not be worthwhile. Investment fees must outweigh the gas fess unlike what I did with wLEO and ETH.
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