CoinGecko – New portfolio feature used to track my LEO assets pairing them as wLEO

in LeoFinance2 months ago

CoinGecko updated the listing for wrapped LEO few days ago and that is reflected also on the LEO Finance wallets where the feed is retrieving the price from it. Rather than getting the price for LEO from Hive-Engine where there is low liquidity and the gap between offer (BUY) and demand (SELL) is bigger, it is way better to use the Uniswap price which is reflected on CoinGecko. That brings transparency and awareness about the LEO cryptocurrency from LEO Finance ecosystem.

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Now what CoinGecko added lately is a Portfolio feature which lets you track your cryptocurrencies. Having Wrapped LEO listed and considering a 1:1 pair between LEO:WLEO we can put in the portfolio the same amount of LEO and track the evolution here. At the same time we can put other cryptocurrencies like HIVE and track them all together and see an overall performance of our assets. We can easily click on the Wrapped LEO link and get additional details for it.

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We can see some important notes about wrapped LEO and also updated information about it.

  • Notice 1: Do note that this is NOT a wrapped version of Bitfinex's LEO token https://www.coingecko.com/en/coins/leo-token but refers to the wrapped version of Leo token issued on the Hive blockchain.
  • Notice 2: Wrapped LEO has migrated to a new smart contract following the attack. For more information, please refer to Leo Finance's Official Blog.

This is a transparent information for any user and also refers to the fact that the current wrapped LEO is a migrated smart contract from the first version. The information was available starting with 24 November 2020 and this is reflected in the price chart. While at this moment there is still few usage reported on that as the time will pass the chart will be more meaningful. Nevertheless, I consider it a great tool at our fingertips to see the LEO price evolution and do a little bit of analysis and prediction based on the past data.

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It is quite great to have this exposure for LEO Finance and for the LEO cryptocurrency as such platforms are sometime used to peak new investment opportunities. At the same time considering that CoinGecko aggregates so many cryptocurrencies, build a top from them and offer real time information it brings immense usage which can translate also into traffic for the Hive community. Nonetheless, these are the steps to build you name in the space and to be recognized for the true nature of the business.

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The fact it can translate to more traffic for hive and leo even makes more sense.i think It'll less easier to check Coingecko than hive-engine. It's awesome in my opinion.

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Yeap, you are right on that. Already have it on the mobile app of CoinGecko as well and it is very easy to check it from there.

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Well the prices are different between the two. Also, coingecko allows you check the price of BTC and other major cryptos.

HE cant do that. I wish we had these two features, portfolios and feeds, on Leofinance.

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I think the former Leo UI allows you to see the prices of other coins it was really cool, probably we'd integrate it into the new UI with time.

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That is true, it did have a price feed but it was not a true page for each asset like Coingecko has.

Plus there is no portfolio which would be awesome.

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Yeah it wasn't really a true page, I don't know what it might take us to have it on the Leo frontend but we do need it, a real-time true page.

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It would send the traffic through the roof since people tend to check those pages on a regular basis, most times throughout the day.

Imagine if Leofinance had that for both crypto and stocks.

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Imagine if Leofinance had that for both crypto and stocks

That would be mind blowing, I reckon it wouldn't be only SEO that'll drive us traffic, they a look at how it'll affect ad revenue.

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That is the key. All that traffic. When a site is a reference point for people, to check on things each day, then it becomes one of the more highly visited sites.

Pageviews explodes. How many crypto prices a day do you check? Think about that across thousands of people.

That is the value of being a data aggregator.

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Hopefully we see the portfolio feature built into Leofinance at some point.

It is a very handy tool and a great way to stimulate pageviews. I know I check coingecko a number of times throughout the day.

At this point, is simply becomes habit. It is where I get all my crypto news from.

These are all things that Leofinance can implement to help it moving forward.

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You are right on that and what CoinGecko did in addition (new feature as well) is to reward users with Candies for checking on the prices and with that you can buy different products in the store. For example with 5600 candies you can buy a CoinGecko To the Moon SWAG Pack that has:

  • CoinGecko T-Shirt (x1)
  • CoinGecko Lanyard (x1)
  • CoinGecko Notebook (x1)
  • CoinGecko Face Mask with Filters (x1)
  • [Limited Edition] CoinGecko To The Moon NFT minted on a physical Ethercard (x1)

This is another way to be rewarded, another tokenization and another layer over the other.
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Without a doubt. We need to see Leofinance take some of these ideas and implement them. This adds another layer to the tokeneconomics. Even if there requires another token on top, we should do it. With the liquidity issues of LEO, we are likely going to need another token to fill holes in the ecosystem.

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