Streamlining Success: INLEO's Consolidation Approach
Hello, everyone! Years ago, creating several projects and diversifying was the fashionable thing to do. Everyone opted to offer multiple services, creating different products and apps, and we were guilty of this too. We adopted diversity as our method, and it turned out not to be the best idea for the long run.
In this clip:
- Spreading too thin was a mistake in several projects during the DeFi summer, and the phenomenon is not limited to the crypto space
- We are consolidating all our projects into Inleo and the Leo token
- Focusing on one lean project is a better use of resources and will help us deliver a better product
- LeoDex has its own domain name but is still deeply connected to the Inleo UI, and no new tokens will be created
Consolidation is the key now, and this phenomenon can be seen not only in crypto but also in big companies like Google, Apple, and Meta, which are also consolidating their offices, with fewer staff and products but better quality.
By consolidating all our projects into Inleo and the Leo token, we are redirecting all our focus and resources to a smaller yet richer plate. That is why we are sunsetting all the other tokens and helping the community migrate back to Leo.
This includes the building of the new LeoDex, which, even though it has its own domain name, is deeply connected to the Inleo UI. Additionally, no new tokens will be created, and it will help connect Leo and therefore Hive with other external assets through our listing on the Maya Blockchain.
We are focusing 100% of our efforts on improving the Inleo UI and strengthening its economy.
Posted Using InLeo Alpha
Focusing on on project to make it a groundbreaking one is a great idea. I'm positive a dollar mark Leo is possible sooner rather than later.
I'm sure there's still a lot to work on with the UI, but over time things would become better.
Considering the hype and the extent of the facilities of blockchain projects, our approach on DeFi summer was to the point. The modular systems or the L1 transactions, even bridges, were not a thing back in years.
What we see today in our ecosystem is a hardworking team that catches the trend of technology. The benefits of Maya Protocol will definitely be groundbreaking!
Nice update.
Always wise to get your shit together. !LOLZ
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Thinking the consolidation through, why stop there? Why not focus all resources on Hive? Why one need LEO at all? It is first of all confusing for people outside of our bubble, as the LEO token is #25 on Coingecko, worth 6$ and playing in another league. What can (your) LEO do, what Hive can´t do? Just a thought experiment.
Imagine all these efforts moved to increasing the Hive brand instead a "fake" LEO token.
Interesting thought experiment!
I see the Hive/Leo thing a bit differently. While Leo has been pushing forward, constantly reaching outside the bubble, Hive on the other hand has been somewhat stuck. From the previous bull run, through the bear market, I haven't seen much growth or innovations.
That being said, since Leo is on Hive, I believe it'll do well being a new flagship of the ecosystem and obviously attract new users to Hive as well! Hive doesn't have to be that visible and can remain in the background when dapps such as Leo thrive. It'll be a win-win situation for everyone.
Watching all the other L1s across the crypto space I think it's maybe too late for Hive to try to compete with them now - that train already left the station. Still, dapps like Inleo could have a very bright future, and the blockchain it's on, doesn't really matter at that point.
About the the two Leos: yes, there's the other one but that isn't exactly something sexy like Solana, in fact, no one seems to quite know what it is and it hardly gets any mentions. Also, there are dozens of apps and dapps with Hive names on them and more just keep popping up. Don't think it's such a big deal though.
Sure, LEO in front and Hive in the back could be a win-win. But it also could not be, like the failed DeFi experiments show. Lots of energy wasted with almost no effect (I still remember the hype about liquidity on other chains, bridges, etc).
Also the topic was about "thinning out" the effect by many dapps all going in different directions. Maybe more useful to cut on all the DHF proposals and instead heavily promote the core of Hive itself, to maximize the awareness. This in turn would help all the other dapps and frontends, L2 tokens, etc.
BTW, how many users have been attracted by Inleo so far?
Yeah, the defi experiment with cub & polycub sure was a failure but I do like what the team has done with the app itself. The main focus should be on developing the social part, the app, and add defi features later on. It's good to hear that the team is now focused on that simple swap feature and going for those high APRs.
I still believe promoting Hive itself would be a huge mistake. First of all, I don't think the whales even want to, and secondly, I think it's just too late for that. Hive isn't as revolutionary anymore as it was a few years ago. Of course the good basic elements are there and it's a good foundation for dapps such as Inleo.
Hm, there are some valid points indeed.
To be very clear and brief - because this discussion could be a 2 hour podcast on its own:
LEO enables many things that aren’t possible at the Hive layer
In very much the same way as Lightning Layer on Bitcoin: development should not occur at the base layer. It should occur on the layers above
This is quite easy to study if you dive into the historic past of blockchain tech. Working on the L1 doesn’t tend to go well.
My belief - and the belief of many others in this space - is that the L1 should provide the tooling that enables the L2.
LEO has a core place in this ecosystem. We simply can’t have threads, onboarding and many of the other tools we have without an L2.
Hive is amazing base layer technology. I don’t see why HIVE is used to reward creators still. It should move to L2. Hive should be for project-level ownership and building
But many won’t agree with that vision. Guess what’s great about that? We can still build it in our own image by using Hive as the L1 database and build LEO our own way.
And LEO has onboarded thousands of accounts per month for quite a while now. Our MAUs represent about 20% of the hive userbase and our total activity is even more than that.
I literally just wrote about this yesterday. lol Doing one thing really well is usually much better than doing a bunch of things pretty decent. Especially in a fast-changing environment. I love how the focus has come back to making the Inleo platform as good as it can be and then enhancing the things it can offer by launching from a rock-solid starting point. When the foundation is strong, then the forays into other things become a lot less risky because they are now "perks" as opposed to requirements. If they don't work, the solid core platform is still there. Why I'm still buying LEO after all these years