Is Leo Finance spreading too thin on all the other blockchains instead of focusing on Hive?
During the last AMA on Leo Finance I asked the question "Is Leo Finance spreading too thin on all the other blockchains instead of focusing on Hive and innovate here? What external actions are taken to strengthen LEO price?". My feeling was that having all these projects simply we get to lose traction and focus.
LeoFinance Weekly AMA - Question on Leo Finance direction
On the other side having a multichain approach will help with bringing users from other blockchains to Leo Finance and Hive. In addition to that as the team increased they should be able to handle all of them in parallel and provide end products in reasonable periods of time.
I wonder what's your take on this?
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What about Cub ? I bought that one at $11 …. Ouch
:-) I am still waiting for my ship to come in on that one. Dollar cost averaging heavily engaged for the long run will hopefully bear fruit for me :-) And all the other severe diamond hands.
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I don't see how we could get back to hype days. While I was also thrilled about BSC, now the focus has shifted to Polygon. Is hard to think that CUB Finance on BSC will thrive going further, but let's see how it unfolds.
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Yeah. I am not solely dollar cost averaging on CUB. I have already shifted some funds to MATIC. Will get whatever pCUB I get and get some interest off of all of that.
Also already took some CUB and moved into native RUNE. Khal will never confirm, but I will be very shocked if LEO isn't on THORchain in some way in the next year ;-)
In the next month or two I am gonna start feeding some of the varied defi interests back into HIVE/LEO regularly (whichever one is cheaper at the time interval I chose to shift back).
Basically one I get all of my cub piles set up, I can occasionally rebalnce noto whichever one treats me the best.
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I would love to see HIVE and LEO on Thorchain.
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Haha. I am betting that it will happen. I dont know @khaleelkazi personally or anything, but over the recent past, anything he wants he seems to make happen.
He has hinted or outright said multiple times that he wants to have a connection to thorchain.
He has even floated the dream of LEO owning its own Thorchain node (no small dream).
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I really think a node would be amazing. I don't know why Leofinance doesn't have node validators on other chains like Solana, Cardano, etc. I think it could be good for marketing and also earn some money.
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Ha. Probably because most of them are very expensive. Heck a thorchain node is like almost 2 Million? I think
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I'm sorry you bought it at that price :_( I hope you didn't put that much. I must say that happened to a lot of tokens. In the beginning, there are very few tokens in the market and the hype/demand is very high which drives the price to be excessively high. Then, inflation starts to fill the market and the price dilutes.
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I only lost $2,000 .. peanuts in the big scheme of things…
I do think we will at least reach $50 for CUB. After all, the marketcap is tiny. Price has not improved much thanks to inflation. Even that could be a good thing because I have nearly 1000 CUB on Kingdom. Things should at least get better with airdrop for pLEO.
!PIZZA
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$50 Cub would be nice. Maybe I will break even.
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We don't lose, but neither the LEO token itself gets stronger. Why not harvest more value out of it with Hive use cases and make it $1 at least. That's when you know you have a thriving token and community.
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There's too much talking and not enough rollouts if you ask me. You don't announce Polycub and wait 2-3 months to then finally release it... There seems to be little value being returned back to LEO token which has always been said to be the main focus token that doesn't seem to be the case anymore.
This is why I think we are spreading too thin. It is clear that the current throughput projects are behind so you better focus on what you can do.
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It is tough to get depth and breadth. Because we are a relatively small cap crypto though, I think it is actually good to put out multiple "feelers". Any that don't pan out also don't really hurt us that much. On the other hand one single "hit" could be a game changer for the entire LEO universe as long as functionality exists in all the parts (it mostly does).
audentis Fortuna iuvat
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That is true, but as Hive shows strength and you are running after another golden goose you might overlook what's in front of you.
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I have indeed neglected HIVE LEO/CUB. Gonna have to get back there...soon.
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How many users did these multi chain projects actually brought to LeoFinance. It would be interesting if we could have the numbers and see the impact of such apps. Nevertheless LeoFinance is one of the communities on Hive that really delivers a lot.
In my own opinion I will say that one project should be finished before the other so that results can be achieved because too many projects at the same can even lead to abandonment if care is not taken.
It shouldn't be an issue if you have dedicated people to the task, but this is an obvious response to your worry. Communication, I imagine, on project statuses could be a solution to the worry that can occur.
I can understand the concern about spreading too thin but if you think in a tiny box, you’ll go tiny places.
Massive projects become massive by attracting ever-wider sets of users.
Even use Splinterlands as a local example: Splinterlands has exceeded the userbase of Hive. You can’t exceed the user base of Hive if you only build on Hive. Hive is great but everyone knows you need to build outside of it to bring people back into it - Hive is the base layer technology. Not the end-all-be-all of what we can achieve. Splinterlands also shows this by using Hive for Game TXs but BSC for their governance token and nearly all of their major financial outfacing activity.
IMO we tapped out the potential growth of LeoFinance within only the Hive community a long time ago. Nearly everyone on Hive knows what LeoFinance is and we’re quite frankly the largest community on Hive.
Look back to the explosive growth of LeoFinance. We’re much larger now than 1 year ago. The token price is more than 10x higher than it was 18 months ago. We had only 4-6 people working on the project 18 months ago… now we have 20 people with 8 of those new hires being in the last 4 months.
We delivered CubFinance this year and 3 major iterations to it - kingdoms is an entirely new platform with all new smart contracts.
We delivered LeoMobile this year. A massive, 12-month long undertaking that finally came to life and approved in app stores 1 month ago.
We delivered bLEO and LeoBridge.
We delivered Lightning V2 which made LeoFinance faster than ever.
We delivered LeoInfra V3 last week which allows Facebook Hive Lite accounts - something no other app on Hive has been able to achieve thus far.
And so many others…
People love to have short-term memories and use only the token price to dictate whether something is successful. I choose to focus on our fundamental growth - focusing on growing our team has been my #1 duty this year and I’ve overseen the hiring of 12 new team members in 2021 alone.
We crushed it in 2021 and we’ll crush it again and even harder in 2022. If anyone doubts that, there are other projects they can flock to. My concern and focus is not on token price but on fundamental developments and expansion. The iteration of and expansion of LeoFinance and our applications is what matters to me. 💎🐾s are the only ones who will make it to the promised land all the weak paws will fall away and come crawling back once they realize they landed on the wrong side of history.
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Quite true and if the team size can support all these projects just the better. It is an overwhelming undertake on so many multiple fronts and as the team expands these should catch up and have faster deliveries. If and once that happens, there is no stopping it...
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I have been here using Hive and BSC for a year now. What I feel is that Hive lacks DeFi platforms like Pancakeswap or Uniswap. There are some approaches like Beeswap but doesn't feel like pure DeFi and more like a workaround. Probably, if I had a project in here I would break it into parts and move the DeFi and governance to another chain.
I would like to know if some kind of smart contract support like EVM is planned for the future of Hive.
After reading Khal's response, I still think it might be spread out a little too thin. After all LEO is built on HIVE and it's main use is in HIVE. Having a trading pair is fine and it adds liquidity but I wonder if its better to have one pool with lots of liquidity or a few different pools with different amounts of liquidity split.
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Of course, everyone has an opinion and it must be nice they do not have to face the challenges of those trying to get it done.
LeoFinance being the trailblazers that they are, have it handled.
Not being privy to any inner circle information, I can say that there is nothing wrong with being multichain and having multiple projects in the works.
That being said there is only so long you can have a project developing before the community members start becoming impatient.
Personally, I am looking forward to Project Blank. A Twitter-like Dapp would be very popular and catch on like wildfire.