Let's grow the Numbers..
Gradually, LeoFinance is approaching thrive mode as the next phase of development as projected in this roadmap roll out. The year 2020 has been a terrific year for the community which has witnessed unprecedented growth in BUIDLing and in token value. As at the time of writing this post, there are five (5) working dapps in the LEO ecosystem and all are contributing great value to the Hive blockchain and the cryptocurrency space at large. They are:
- LeoFinance Beta - a blogging interface;
- LeoDex - an exchange for trading Hive-engine tokens without fees;
- Leopedia - an encyclopedia of cryptocurrency and blockchain guide and information;
- Hivestats - an account tracking toolset for Hive blockchain;
- WLEO - a simple tool for converting LEO on Hive blockchain to wrapped-LEO on Ethereum blockchain
The very significant growth within the LeoFinance ecosystem happened in September 2020 when plans ensued to bridge the Hive blockchain to ETH through wLEO. This lead to a remarkable positive shift in the price of the token from 3 cents to above 10 cents.
The price pomp was synonymous with a increased user activity in LeoFinance community in terms of content creation, engagement and curation. In fact, the September event marked the true beginning of social activities in the community.
As at September 23 when wrapped-LEO was launched, there were only 706 active users in the community out of the 2,849 subscribed users. Active users as mentioned above represent their activity on the entire blockchain and not specifically in the LeoFinance community. The actual number of users who were posting in the community as at that time was in the range of 65 to 80 according to Hivedapps.com.
Days after the wrapped-LEO announcement, things changed. I tracked the stats three days afterwards which showed additional 37 new subscribers as well as increased active users (additional 25). We saw the number of daily post in the community increase and the community recorded the first strike over 100 daily posts.
While the development of wrapped-LEO has allowed for participation of ETH users in the community, the number presently engaging the community are in their lows as much is anticipate to raise the LEO token to it's potential value of $2 at the first thriving shoot and then, aim for the $37 value as predicted by experts in the community.
An iteration of user-activity in the LeoFinance community shows a directly proportional proportional relationship to the ad revenue generated. This revenue (in BTC) is used for buying off tokens off the market for burns. September 23 marked a peak value for the generated revenue when compared with the past months.
Our ATH was reached on September 23rd - when we brought in 8,174 impressions for the day and $25.79 USD in ad revenue.
The numbers of users and visitors to the Leofinance dapps are crucial at this time and is a determinant factor to the future of the LEO token. This informs me to keep an eye on the user stats and the growth trend. It would be a great thing to see 5,000 active users in the Leofinance community especially as there are growing numbers of adopters of blockchain and cryptocurrency technology across the globe.
We are looking forward to more external collaborations with other crypto communities as well as an organized group of finance analysts and researchers who would use https://leofinance.io/ as their blogging interface. This would be a win-win deal as they earn LEO token (presently $0.24) for their contents and helping the community to grow in terms of userbase and consequently ad revenue.
I decided to play with my statistical/analytical skills by making simple bar charts to show the growth in number of active/inactive users in the LeoFinance community over the past 15 days since wrapped-LEO was launched.
As modeled in the chart above, we can see a nearly constant number of inactive users from 2143 (as at 23/09/2020) to 2155 (as at 26/09/2020) to 2138 (as at today). On the net, we have 5 users cross from the inactive state to an active state in the community/blockchain at large.
On the other hand, there has been a constant increase in new users/subscribers who are also active. There has been a significant addition of 152 active users to the community and the number can only go forward from there.
The marketing of the community to attract more users is no more an exclusive work of the team, but of every user - both content creators and curators alike. It's time to adopt any convenient marketing strategy to help bring more visitors to the value that is created here. I have been personally challenged by the Twitter referral strides of @jk6276 and @Trumpman. This is a task for everyone here with an effect that would better everyone.
Let's grow the numbers!
Posted Using LeoFinance Beta
thats right leofinance is expanding rapidly and are more and more active user
some people are now starting to post leofinance content and use its interface i do to
This is a good start. But we're a long way from the kind of numbers @neilmcspadden was talking about in his estimates of what it would take for LEO to reach $2-$37 in an organic, non-speculative manner.
We know attracting users from the centralized platforms that they are used to is not easy. On the other hand, the social media market is in constant flux. New platforms can quickly become popular. User experience is key. Adopting LeoFinance must be as effortless as possible and content discovery must work well for readers to be attracted to it.
Posted Using LeoFinance Beta
It is good that leofinance has attracted a good number of new users but for it to gain more traction, existing users have the duty of promoting and advertising leofinance blogging site. Also, in growing the numbers, we should equally reduce the number of inactive users by increasing our engagements here.
Posted Using LeoFinance Beta