Just got my 10K LEO back, cheers @Khal!

in LeoFinance5 months ago

Woke up to a nice surprise this morning - a discord message from @khaleelkazi saying that my LEO from the WLEO 1.0 fiasco had been returned, and lo I checked in with leofinance to find 10K LEO in my account:!:

Screenshot 20201114 at 09.00.38.png

Which is nice to say the least!

It's at moments like these that I'm thankful there's such a competent team running this place.

In case you're not aware, I was in late to the Discord when the initial 'hack' took place and managed to remove my liquidity BEFORE my entire ETH stack had been drained, but I sent 9K WLEO to the @wrapped-leo account then didn't get it back as lEO because I got unlucky with the window then they shut it down!

Apparently there had been some false claims made about lost LEO, so it took a while to sift through the data. I can only assume this was from people who aren't that active on the platform (or maybe just confused people?) otherwise why would you want to tarnish your reputation?

OK stake is one thing, but the later is also pretty useful around here, let's face it, and in purely earning terms, if you ain't got much of the former, the later is all you've got! So why anyone would want to burn that through by putting in a false WLEO compensation claim is beyond me, but that's crypto I guess - it takes all sorts!

I seem to have ended up with an additional 1K LEO, which is, again, nice! It's safe with me folks, don't you worry!

Once more into the Pool - 5K (near enough) now staked.

I converted 2000 LEO to ETH so I could add another 2000 wrapped LEO into the liquidity pool - done for cheap in terms of GAS - around $1.50 this time.

I would have liked to have kept all the LEO as LEO but I'd obviously lost some ETH from the WLEO 1 thing, so I needed a replenish to be able to in more. Besides 20% of the 'refund' is OK.

And I powered up another 4K - 30K Power total!

This isn't quite as much as I wanted to power up, but I guess 30K is nothing to be sneezed at, actually I need to go check out how much that's worth in terms of a vote now - I guess it's quite a lot more than this time last week given that funds are heading into the pool.

And the rest

I've kept a little liquid, and I couldn't resist buying another 20 LEOMs, and I EVEN (sorry) powered up 15 Hive from the sale of LEO.

Having these funds locked away for three weeks may even have saved me money.

I did a quick calculation based on the relative LEO/ ETH prices on the 25/10 (when I should have got my LEO from WLEO initially) to today...

Had I converted 2K Leo for Eth 3 weeks ago, I'd have got 0.02 ETH more than today...

  • Oct - 0.18 *2000 = 360/408 = 0.88 = ETH
  • Nov - 0.20 *2000 = 400/462 = 0.86 ETH

I mean that's near enough parity, but the thing is had I got that 9/10K LEO back then would I have converted more of it to ETH then, or gradually over the last three weeks? Probably!

But having it locked away means I couldn't touch it, and now I've got more in the bank to liquify if I choose to, as the price (probably increases) compared to ETH.

If you think about it, the fact that LEO has remained so tightly pegged to ETH for three weeks even after WLEO 1.0, that's really something!

Anyway, I'm a happy bunny this morning

Have a good day everyone!

I REALLY need to get up and out and start mine! Or maybe I'll just spend it here, it has just started raining after all?!?

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Things like these strengthen the community a lot and that's why I consider it the best so far.

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Yup, the WLEO 1.0 'bounce back' could well go down in crypto history!

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2.0 will be even bigger by Monday.

Amazing to see how quickly things bounce back around here.

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I've notice the pool growing, rapidly!

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Absolutely. Most of who were in before jumped right back in. It didnt take them long.

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Sounds like you've had a great day so far. 30K LEO is awesome!

Do you have any luck with your miners?

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I'm pleased with my stake so far - the miners is an odd one - someone pulled this for me -

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That's from 66 LEOMs and 3.25 LEOMMs, so not many.

But you can't see any of those rewards in my wallet.

Also note the declining return in November - I think A LOT have been bought recently.

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the miners are sold out, the only ones left are on the market but that is not that many in the grand scheme of things... I seem to get 1.2 or 2.4 per day roughly but I have some more miners

I just picked up another 40 odd, they were on sale all of a sudden, I think they're still worth it.

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At ~5.3 Hive for LEOM and LEOMM at 25, it makes sense to go with LEOM.. But it doesn't really seem like a good investment, in terms of the mining rewards. I guess you could sell those miners for a rather sweet profit further down the line though.

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I think it is on parity ATM with just buying the LEO and staking it, BUT the difference is the LEOMs are set - with LEO your returns will probably go down over time because more is printed, I think.

I might have that completely wrong.

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I think you are right, so I guess that would eventually turn into a steady LEO income. Time will tell. ;)

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And I saw something in Discord about @rollandthomas buying all of them up to 10 Hive - so that gave me some idea of the cut off value!

But I'm happier with staking here TBH.

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Oh, okay. Yeah he seems to like those miners.. lol

I think it can turn out pretty good though. While you get less rewards for content you'll still mine at the same pace, so the miners should increase a lot in price as well. I guess it comes down to a decision to either sell miners or mine for LEO further down the line.

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I'm glad to see you've got your Leo back. This action restored the trust of those who doubted the platform, although they shouldn't have done that in the first place.

Apparently there had been some false claims made about lost LEO, so it took a while to sift through the data. I can only assume this was from people who aren't that active on the platform (or maybe just confused people?) otherwise why would you want to tarnish your reputation?

Why I am not surprised? There are greedy people who don't care about anything but themselves.

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I never doubted for a minute I'd get it back, I was starting to fret a bit over the timing though, still alls well that ends well.

It's also a wake up call that there are scammers here. And the more popular the place becomes, the more of them they'll be, we need to be alert, the cosy-cosy days could well be behind us!

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I know you never doubted you'd get it back as you've invested in it and that means trust. Only some milkers (the worst kind) did doubt it and Khal as well but those are done.
You're right, we have to keep our eyes open as Leo got a lot of attention lately, hackers and spammers are already looking for an opportunity.

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Glad to see your statement!

That will be a Reputation of LeoFinance.

We will go on LeoFinance platform with Belief.

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Can you explain wrapped Leo to me in simplest way possible?

It's essentially an ERC-20 (eth) version of the token so you can easily swap LEO into ETH.

As far as I'm aware WLEO is minted on the Ethereum chain but only released on that chain once you send LEO to the @wrapped-leo account.

There's more details here:

https://leofinance.io/hive-167922/@leofinance/what-is-wrapped-leo-wleo-or-liquidity-provider-incentives-and-project

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Ah makes sense.. thanks so much!!!

This thread by the team may also help with the usage side of things :)

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Thanks @leovoter

actually I need to go check out how much that's worth in terms of a vote now

feel free to test your full vote on this amazing comment...

All joking aside, getting those 10k back is amazing and you earned them after all (except the 1000 but you would have earned those anyway) our you bought them which amounts to the same thing

you have faith in this community and that is what matters

100% is a bit much on a comment, but you can times it by 10, I'll let you do the math!

Yup loving it here, today was a good day!

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A team with ethics and solid principles and foundations - thats a rare combination (even more so in the crypto space). Kudos to @khaleelkazi and the LEO team.

Well said!

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Stories like this shows how we are in the right place and things will only keep getting better from here.

How many other crypto projects out there would money have been returned?

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Yes, better and better, albeit over the long term - in the short term it's going to be pretty hard to top waking up to another $2K in your account overnight!

I suppose someone COULD buy my Exode Killbot, although I'm starting to think I may have overpriced that at $4900.

How many other crypto projects, well I think that might be.... none?!?

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I havent checked my EXODE holdings in a while. I should look to see what I have. Although if the game does grow, it will be easier to sell the cards that we have.

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The evac stage of the game is pretty much ready now btw, so hopefully we'll see some increasing interest, it's pretty good too.

I just worry that's it's just Elindos, there's quite a lot that needs doing to make it as smooth as Splinterlands.

I've got this feeling the contracts may not have been such a good deal where the more common cards are concerned - they just keep on being printed and printed after all, depends how the game play works out for some of the cards though.

I think it'll be a while for the full game though - I mean Evac is just stage one. Colonlisation is more complex (MOST, about 80% of the cards you can't even use during evac) and we haven't seen a teaser of that yet, so that little strap-line of yours - vision 2025... that might just apply here!

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Yeah I understand how hard it is and cut Elindos some slack. Things take time, it wont be an overnight hit.

That said, there is potential and things are shaping up.

I bought a bunch of contracts so to see what you wrote that is a bit saddening but that is how it goes.

Take a shot, some things work out. Hopefully the elite cards make up for it.

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Oh Elindos is doing a great job, I think everyone knows and expects things to take a while!

It just occurred to me with the contracts - unlimited printing, isn't it! Unlike with the Alpha packs which are limited, it's just the way it is. Having said that, the rarer cards might well hold up OK in value.

But I alone can already make a very long daisy chain out of my syndicate hackers.

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I cant even seem to put stuff on the market, for the life of me I cannot find out where to do it. I could buy stuff but not sell, really weird

You need to go to your card collection and then sell from there.

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Wow! You make good use of them.

When it comes to these tokens, it really is 'use it or lose it' after all!

It did hurt a bit converting to ETH - but I wanted to stake NOW, rather than wait for a bank transfer to go through on Monday.

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Are you going into the Pool yourself btw?

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Not now, I am nil in ETH currently.

You can always swap some of course, that's my going to be my strategy for the foreseeable future - swap about 20% of my LEO earnings fro ETH, power up the rest. 20-80 - the golden ratio!

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Let see by how much wLeo beats Leo curation.

That is epic. I am glad the wLeo is working though these issues prior to any real push into a decentralized wHive.

Indeed - and I get the feeling progress towards that is rapid!

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