SYNERGY FUND powers up 1900 hive from a small portion of LEO profits....
This is really incredible. The SYNERGY Fund, having been working with LEO and other great projects being built on this blockchain technology, took a position in LEO around 16 hive cents, and now have sold a small portion of this investment at 1.07 hive.
This is a huge move for the FUND, and will let us strengthen our position on HIVE.
We should stop here to mention that it was @leodex who helped us transition out of such a large portion of swap.hive at a miniscule fee of 0.25%. We checked their wallet, and they have really upped the ante!
They use these tiny fees to burn a bit of precious LEO.
Now, what is next for the SYNERGY Fund and LEO? Aren't we sad that the price just keeps going up even though we are selling?
NO. We never get sad to take profits.
We spend 1000 hive on LEO when it was between 14 and 18 cents. The fund took the opportunity to power down 7000 LEO, and has now received half of that, with 3500 still to come over the next two weekends.
This leaves the fund with a whale stake in LEO, 6342 of LEO POWER with which to curate and watch grow. To take profits, is the responsible thing to do. And with just one power up we are now over parity with our original HIVE investment.
We powered up this sale at 1.07, last week we sold at 0.8 for swap.hive and spent that on SIM and some other projects. Probably mostly SIM.
With new and continuous development coming out of the LEO community and team, we may use our next bumps of LEO liquidity to play the market. We have one eye on wLEO and ETH price, one eye on LEO and HIVE price. And we are never sad to take profits.
Not advice, just history. Do your homework.
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Thats a pretty great return, so what will the fund be doing with the added HP for curation?
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