Ether Is Rocketing, LEO Is Following Suit
Less than a week ago ETH was languishing below a resistance at $500. It got broken. Now LEO is shooting up as well because it's tethered to ETH through the wLEO/ETH Uniswap pair, which you can find info on here:
https://info.uniswap.org/pair/0x176D5681AF7a7D33bCA2B10F716Bb19499a9dD12
Don't you just love looking at that?
By the way, if you'd like to take your LEO to a ride on the Ethereum side or convert your wLEO back to LEO, you can do it here:
What this wrapping thing means is that when you convert your LEO to wLEO, you send your LEO to a special address to be kept out of circulation while a corresponding number of wLEO is sent to your Ethereum wallet. When you do the reverse, your wLEO is taken out of circulation and while your LEO is sent back to your own address. The wrapped LEO tokens on other blockchains (there are wLEOs on other chains slated to be implemented in the future) are representations of the original on Hive. The total number in circulation is unaffected by the conversions. This way you can have tokens that can live on multiple blockchains.
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Damn 1 million wLeo.. #likeaboss
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Yeah, there's 439 ETH in the pool! That was quick.
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1 million wLeo is insane!
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That much LEO was vacuumed off the marketplace on Hive-Engine.
We can convert LEO which we get from Blogging in HIVE Blockchain to WLEO and then, ETH.
So, we can hold other Tokens on other blockchains or exchanges.
What do you mean by that?
I like that system.
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What I mean is that LEO can exist in the form of wLEO on Ethereum. I believe wLEO on other blockchains such as Binance chain is being planned.
Wrapped LEO (wLEO) is pegged to LEO meaning that it holds the same value.
Even if no wrapped LEO existed, LEO could still be swapped for any other token through exchanges.
Million wleo is good thing, Liquidity allow investors to invest big.
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Exactly! Large investors hate slippage when they try to buy. The more liquidity the better.