Watch Out For LeoFi

in LeoFinance2 months ago

With all that is taking place, some are overlooking one of the most promising aspects to Leo, actually Hive in general, and that is the addition of Smart Contracts. While it is still in the development stage, we potentially could see some amazing things.

Many are now speculating at what the price of LEO can be in a year's time. Will it be $1? $5? $37?

For those who feel it is at the lower end of the spectrum, we need to consider what is really taking place. It is exciting to think about the progress Leofinance made. However, we must remember that long-from content creation, aka blogging, is only of interest to a small portion of the Internet user base. Most are not hardcore content creators.

At the same time, we have the microblogging feature being dangled before our eyes. This is a nice addition; certainly it hits a wider market. There are more people interested in short-form content, aka sh*tposting, than true bloggers. Once again, this is exciting but will be rather limited for a while since it will be web based, not mobile.

Nevertheless, both of those are enough to get the juices flowing.

Yet, they both pale in comparison to what Smart Contracts will do. With them, we enter a completely new realm, one where money is plentiful.

Lost in all the hoopla over Bitcoin's run is the fact that the money locked in Smart Contracts is exploding. Just before Christmas we were under $14 trillion. Today, much higher according to Defipulse.com.

defi.png

Then we see the different applications associated with the DeFi applications.

defi.png

Here is where things get really interesting. The tokens for each of these applications ranks in marketcap, according to Coingecko, as follows:

SYN #25
DAI #28
AAVE #29
UNI #30
MKR #40
Comp #48
SUSHI #58

The total market cap for these: $7.5 billion.

What if LEO, and through that Hive, was able to tap into this money? How would that change the perspective of things?

As you can see, we are dealing with a more powerful market compared to blogging/social media. While they have a great future for Leofinance, LeoFi offers an incredible potential.

For example, ponder the idea of having a Bitcoin pool similar to what exists on Ethereum with wBTC. However, instead of it being paired with ETH, it is LEO that it is paired with.

What does that do for the platform? Consider doing that for any token, existing or being developed. Instead of ETH being the pair, LeoFi could make LEO the pair for any pooling.

We get a glimpse of the potential simply looking at the wLEO Liquidity Pool. This is one small project (especially for Ethereum) that most of the crypto world has no idea about. Yet look at the value locked up.

defi.png

Now do that 100 times with different projects. That is $100 million locked up, still a nothing compared to Ethereum but big money.

So why would someone opt to use LeoFi over Ethereum? Why the fees of course, or should I say, the lack of fees. DeFi is big but it is expensive on Ethereum. Fortunately, that is being addressed and will be fixed in about two years. Does anyone else see a window of opportunity?

How about a lending platform, does that make any sense? Can it be done here also? With Smart Contracts, if it is on Ethereum, it can be duplicated on here. Thus, we could see a multitude of different projects arising, all creating their own token of some sort.

Talk about entering the Big Leagues?

This is what Smart Contracts do for Hive. You read that correctly. Remember what is underneath it all.

Now tell me if you think $1 LEO by the end of the year seems likely.

Excited yet?

BY THE WAY, THIS IS SPECULATION ON MY PART. NONE OF THIS IS FROM THE LEO DEVELOPMENT TEAM OR FROM ANY KNOWLEDGE OTHER THAN WHAT IS IN THE ROAD MAP AS WELL AS GENERAL KNOWLEDGE ABOUT WHAT IS TAKING PLACE WITH SMART CONTRACT PROJECTS. I HAVE NO IDEA WHAT LeoFi WILL LOOK LIKE OR HOW THE SMART CONTRACT CAPABILITY WILL BE ACQUIRED.


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Very agree with your considerations
Hive without SMT is like a Ferrari with the handbrake locked ... I really hope they are implemented as soon as possible and then the price can take off for both Hive and LEO.

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BY THE WAY, THIS IS SPECULATION ON MY PART. NONE OF THIS IS FROM THE LEO DEVELOPMENT TEAM

Anyone with a decent enough brain should consider these things you described as obvious future moves for hive. The real question is how and who is going to pull it off. These things need resources & dev time. I hope someone will manage to release a prototype DeFi on Hive before BTC goes into a serious correction again.

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Anyone with a decent enough brain should consider these things you described as obvious future moves for hive.

You would be surprised at the number of people who take things like this as an "announcement" post.

The DeFi protocol is being worked on. I havent seen any updates in a few days so I am not sure of the progress.

I dont think the price of BTC has much to do with it.

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I haven't seen much updates myself. These stuff are hard to develop. I'd rather see devs focus their time on building prototypes than making whitepapers. There's been too many projects with cool whitepapers and no real product. I've read through cool whitepapers and have a product get released and end up being abandoned in few months/years.

If people keep coming to a bare bones version of a product (like the early Steemit.com I joined in 2017) it means we have something that can get people on board even without all out marketing and shilling. Splinterlands is one of the coolest examples. They spent most time building and improving. I've played the game since there was no gameplay and I've played through times where you had same rule set for 2 days or something. The improvement I saw during the months was enough for me to make Splinterlands NFT into my biggest crypto position.

I still don't know Splinterlands even having a whitepaper. It's just few blog posts and a MVP that just worked on blockchain. Get me a simple trading bot where I stake some currency instead of paying fees and I'll be joining DeFi in a heartbeat.

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Those are some very interesting thoughts! I totally understand what you are saying at the beginning there. I onboarded my worker yesterday to Hive. I am not sure what he is going to do with his account specifically, but we talked about how he isn't super interested at this point in writing long blog posts. At 18 years old that makes sense to me. I tried to direct him to DBuzz to at least get started. Making more uses for the Hive and Leo token should never be a bad thing. I can't wait for all of this new development to come to fruition!

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Yeah we need to get past the long-form blogging. Perhaps gaming is more his cup of tea. A lot of interesting games being developed.

Hive does have the opportunity to offer something for everyone. It all comes down to what is developed on here.

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He is interested in graphics arts and graphics design. I think he is going to start sharing some of that in a short form type of post. He just needs to get his feet under him and his confidence level up a little bit. I delegated 1000 HP to him so he could at least get started voting and such.

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So why would someone opt to use LeoFi over Ethereum? Why the fees of course, or should I say, the lack of fees. DeFi is big but it is expensive on Ethereum. Fortunately, that is being addressed and will be fixed in about two years. Does anyone else see a window of opportunity?

Indeed, Ethereum fees are crazy. I wrote an article about gas fees.

Also, I'm pretty excited about LeoFi, more than microblogging.

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The financial potential is completely crazy. So I think that it will start to really grow once some things are implemented.

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I don't understand DeFi and it's been a busy month to keep up what goes on the blockchain. But you have a way of dumbing down a concept and that helps a lot in understanding how things work in simple terms before dwelling into the complexity of the topic. If you ever get a lambo from earning Leo, I wouldn't be surprised. Keep up the good work.

I'm not a fan of microblogging but I can understand its value in hooking a wider audience who have yet to entertain long form of content. I just hope conscious curation to promote content quality is done on microblogs. Looking at posts that earn almost equal rewards with just a few sentences vs long form posts that have more substance can be demoralizing at times.

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If you ever get a lambo from earning Leo, I wouldn't be surprised. Keep up the good work.

LOL. Thanks.

But this is far more important than Lambos and mansions.

We are trying to develop something that has real impact in the lives of millions.

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Yes , you are right. If we are dreaming something big in the likes of BTC and ETH , we must think differently too , we can't expect just blogging to get us there . Smart contract will help Hive/Leo achieve it.

1$ by the end of the year is definitely possible but I feel after the airdrop we are going to see drop in the prices of LEO, not substantial though.

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The fact that Hive already morphed, at least to a degree, away from blogging is very helpful. It is an encouraging sign. We are now looking at moving into another area that will help to appeal to outside people.

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Right . Example would be my brother who doesn't like blogging much but invested around 70$ past week to play Dcity lol.

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Now tell me if you think $1 LEO by the end of the year seems likely.

For me it is. I'm expecting a rise after microblogging comes in and we see a rise in the number of users as well. It won't be $1 right away but with all the development that it's going to take place this year we'll get there by the end of the year.

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the implementation of smart contracts would be really top but will it be possible to enable them on Hive by the end of 2021?

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We will have to see. What is being worked on now is second layer solutions, not core coding. That will move faster as compared to trying to put it at the base layer.

But with development, there is coding and then test net. We will see how quickly that comes about.

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Looks promising if we can we can transact with little to no cost. I think there are a few issues that needs to be done before this can happen: 1) Leo needs to be better known and make normal people start investing and 2) enough capital to ensure liquidity for general transaction. I think if we can reduce the transaction cost, more people will be willing to start investing in the program. Just like how new people started entering the stock market after robinhood started similarly for the normal stock market (although they made that up by selling people's order flow)..

It only takes a bit of a crack and the floodgates opened. Looking at what happened on Ethereum last year with DeFi shows the power. People flocked to those applications.

A couple of success stories on Leo would do something similar in my view. This is especially true since it would not have the absurd fees like on Ethereum.

We will see how it all progresses but the idea, I feel, is valid.

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My view of LEO price trend sees LEO at $1 at around June this year if all of these three events happen around the LeoFinance ecosystem before then:

  • Lightning-DB
  • LeoFi
  • Airdrop to LEO stakeholders
  • ETH hit $2k

All the above four factors have a strong influence on LEO pricing. I want to be optimistic that we have all four things play out before half of the year and then, LEO would be approaching $1.

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DeFi on LEO without ETH gas fees, sign me in please !
I'm far from being knowledgeable on those DeFi smart contracts but one of the most important thing would be the security.
One great advantage of ETH smart contracts is to have been run for a while, been hacked, been patched, huge community of black/white hat hackers, more chance of a better auditing.
I have no idea how easily it would be replicable on Leo without losing the security.

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From what I understand, at least with what @disregardfiat is designing, there is a different type of operation. Naturally, what is built on top is in danger of having that happen, so we will have to watch that.

However, the more things are decentralized, the less it is able to be hacked into. If transactions are truly done peer-to-peer, that removes some of the risk.

Pools of tokens are always going to be at risk but there is where multi-sig comes into play.

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I need to educate myself on those mechanisms, really.
Thank you for taking the time to answer.

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The gametheory video shows how and why certain limits to multi-sig accounts would exist, and why collateral is so important in this paradigm. ETH has it's advantages in security, but they can be replicated and used on hive safely.

That’s good to know. I’ll be patient and wait for your updates ;)
Bring it up before ETH2.0 🤣

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DeFi on LEO without ETH gas fees, sign me in please !

I'm also in 🙂

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Will it be $1? $5? $37?

I don't know why you ask above question with the different values of LEO.
But, I believe LEO will be 1$ in this year. The price $1 is the most potential and probability of LEO in this year.

For those who do not know how to write a good long letter, they will be looking for a microblogging.

Thank for your sharing!

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Lol, that was a rhetorical question to say no one knows how much it will be ;)

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In uncertain but expectant things, would we ask like this?
Yes?

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It's quite promising I think leo will reach 5 or 50 dollars in 2021

@taskmaster4450le, Sometimes Speculations sounds so sweet that Collectively masses subconsciously try to Manifest that reality. Let's hope for the best and stay blessed.

I guess I should read Twitter before doing posts.

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Really, things happen so fast that by the time you're done with typing a post for say 30 minutes to 1 hour, figures are already changing far.

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That is true.

Do not walk away from the computer for a moment, you might miss something.

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1 dollar by end of the year? are you kidding me. All it takes is Hive to pump doubling its price and Leo is a Dollar. Its going to take off, the train is ready to leave the station.

At this point i see no valid reason why would the price of leo decrease. Quite contrary.
It's kinda hard to speculate on whats to come since crypto is so difficult to follow. I have seen countless examples on how one project simply ends up serving different purpose than it was supposed to.
But yeah, fun times ahead.

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The owners of HIVE Power have not voted wisely for the DHF. Dash community had made some very good decisions with their decentralized treasury. We haven;'t had our DeFi projects and marketing projects or even development of front ends like that from @stemsocial @quello @ecency @dapplr get proper funding.

  • DAILY BUDGET: 8,438.085 HBD
  • DAILY FUNDED: 1,278.500 HBD

Why so stingy? What are these guys trying to save up for? You think all these money is going to help when there are 10 other competitors with $20+ billion dollars in funding. Voice.com alone had $150 million in funds dedicated from EOS ICO. We are counting pennies over nothing.

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Thank you for spreading the positive things around. I have tremendous respect for @leofinance team for what they have managed to pull off while rest of HIVE was mostly slacking off. Even @dbuzz which most people don't care much about had managed to rank #25 on https://www.stateofthedapps.com/rankings (now it is #27).

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we must remember that long-from content creation, aka blogging, is only of interest to a small portion of the Internet user base. Most are not hardcore content creators.

Not everyone is a hardcore content creator but with microblogging, Leo will give options to more people to come onboard on leo. With this new addition more people can be part of Leo and it will help the platform.
I am excited about Microblogging and looking forward to have it soon

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I like your thinking. Leo’s connection with Ethereum has only just begun. Many windows of opportunity are opening up.

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One thing I am quite sure of is that leo has greater potential to hit the top right now probably it will not be bad to see leo hitting $2 before this year ends

okay so smart contracts are all the rage now, but what happened to smart media tokens ? are they still a thing or the idea was dropped>

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Now tell me if you think $1 LEO by the end of the year seems likely.

More stake leo, current leo price is 0.49 USD, I think it will no wait till the end of the year. In the two or three coming months, the price of leo can be close to 1 usd in my prediction.

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Every time i read you bro I feel like we hit a home run with Hive and Leo, and yeah. I just don't see how Defi projects don't see our chain and its wonders, especially our fee less transactions. Regards champ.

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This was exactly the point of my post.
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I am thinking this would be the most significant thing we can do to boost this platform,and I am please you think so too.
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