wLEO is off to a tremendous start on Uniswap!
wLEO gets its shot at a second act and so far so good
Who doesn't love a comeback story?
wLEO was the victim of a malicious hack that was able to drain a substantial portion of liquidity provider funds several weeks back.
However, the LPs (liquidity providers) were eventually reimbursed and significant security upgrades were undertaken since that time to prevent something like that from ever happening again.
Which has lead us to today, the launch of wLEO 2.0.
wLEO launched today on Uniswap and the total liquidity is already close to $250k.
Check it out:
(Source: https://info.uniswap.org/pair/0x176D5681AF7a7D33bCA2B10F716Bb19499a9dD12)
The total LEO wrapped thus far is close to 550k and the token price is up over $.22 per.
All things that point to a surprising (or not surprising if you have hung around the LEO community for any length of time) amount of confidence in the relaunch of wLEO on Uniswap by LEO investors.
The previous pool had roughly $450k total liquidity at the peak (right before the hack), so the $250k right out of the gate on day 1 is a very solid start.
wLEO is very important to the LEO growth story
Some might have wondered why pursue another wLEO launch with the way the last one ended up going...
The reason being is that because a wLEO listing on Uniswap opens up a ton of doors for LEO.
Specifically, it will make it easier to get it listed on other large centralized exchanges due to the ability to show volume numbers on Uniswap to would be exchanges, letting them know why they should list wLEO.
(Plus there is another token out there with a tremendous market cap named LEO as well, so wLEO takes care of that problem)
Also, it provides an on-ramp to the ethereum ecosystem which has hundreds of thousands of users and billions of dollars invested in it.
Things that may prove crucial in terms of helping LeoFinance.io grow and add more users.
Which is most likely what will need to happen in order to see tremendous price appreciation with the token.
Are you interested in becoming a Liquidity Provider?
If you are interested in getting involved as an LP, they have a couple sweet incentives for you...
First, you can earn a portion of all the trading fees generated in the pool.
Secondly, there is also a major incentive program set up to reward those providing liquidity that will pay LPs based on how long they are providing liquidity, IE the longer you provide liquidity, the more you will make.
If you are interested in becoming an LP for wLEO on Uniswap more info on it can be seen here:
Let me know in the comments below if you have any questions or concerns about how exactly to do it.
Personally, I am undecided whether or not I will be an LP this time around, but it's not due to any security concerns.
It's due to the fact that I think LEO is going to ultimately go a lot higher than it is right now and I don't want to be in a position where LEO runs up a lot more than ETH and I end up with a bunch of ETH and no LEO as LEO trades for much higher prices...
It's a pretty good problem to be concerned about when you really think about it. :)
Anyways, good to see wLEO off to such a good start and I look forward to seeing the tremendous growth that is likely to follow in the coming months for the entire LEO ecosystem.
Stay informed my friends.
-Doc
Posted Using LeoFinance Beta
Round two is definitely off to a good start and I'm happy I was one of the first to get my LP in. 20K LEO, kinda wish I'd done more but gotta keep some liquid haha.
Posted Using LeoFinance Beta
Yea I don't want to lose all my LEO and be stuck with a bunch of ETH as I watch LEO soar over a dollar...
I'm of the same opinion.
But what if you exit the pool and immediately exchange eth for leo?
Posted Using LeoFinance Beta
You could do that as long as LEO hasn't gone "high enough" to reach escape velocity, not sure what that level is but there is a level at some point where the price goes high enough that you no longer have that value in the pool.
I'm guessing that staking and curating will also be a great return, especially if more people un-stake for the pool. The last time I saw my voting power go up a lot.
Posted Using LeoFinance Beta
I've already seen my vote value go up by 20% or so this morning
Posted Using LeoFinance Beta
Wow, thats hudge.
Posted Using LeoFinance Beta
Actually I'm way off, more like 10% (.260 ish up to .290ish at 100%). Was mistaken unfortunately :D
Posted Using LeoFinance Beta
Thanks for letting me know, I still think it will get a little better.
Posted Using LeoFinance Beta
Wow, is that accurate are you sure? They also directed 15% of the inflation towards LPs, so that impacts vote values as well.
Now that you've questioned it and I've checked back on my vote values over the past day I'm not sure at all....probably way out actually. I thought I had given a .320ish 100% vote this morning, when it was .260ish yesterday but I think my vote has gone up to .290ish at 100%, so not nearly as much as 20%. Can't find that .320ish vote anywhere lol.
Posted Using LeoFinance Beta
more in the 10-12% range?
Looks like it, although this morning again my vote has been .320ish at almost full charge...staked Leo is down to 65% now. Either way, it's a nice bump up :)
Posted Using LeoFinance Beta
Nice. I remember during the last wleo launch, it was getting to a point where you could almost make more money by just powering up your leo and voting as opposed to staking in the pool and collecting part of the bounty. If the pool gets large enough, we might get to that point yet again.
Agree, and it's an interesting possibility - especially for folk like me with middling sized stake (~2-3k and less), where entering would really only be worth it if everything were pooled, leaving practically nothing at home. This time I'm just staying here, posting, commenting and observing :)
Posted Using LeoFinance Beta
Yes, but they have redirected 15% of the inflation to go towards paying LPs, so there is that to factor in...
Oh yes, that's right I forgot about that, but I still think (hope) with a rise in token price it won't matter anyway.
Posted Using LeoFinance Beta
This time I am in; it feels exciting, but I am also a bit nervous. After adding to the pool, I have one remaining question (just in case!):
How to take out my wLeo/ETH, if I decide to want them liquid again?
Posted Using LeoFinance Beta
Found the answer; on https://info.uniswap.org/account there is a 'remove' button.
Posted Using LeoFinance Beta
Yep, it's really very simple. If you are in it for the long haul you could end up making significant returns from staking for a year or more.
That's my plan; I just felt a bit nervous as I could not find the exit ;)
This is exciting to even observe! Quarter of a million in a few hours!
Posted Using LeoFinance Beta
I also wrap LEO to WLEO.
I just describe Wrapping LEO to WLEO Activities in below link.
https://leofinance.io/hive-167922/@tin.aung.soe/my-wrapping-leo-to-wleo-activities
Are my Wrapping activities complete for Liquidity Providing?
Please!
Posted Using LeoFinance Beta