LEO's Continued Adoption Of Ethereum Has Far Reaching Upside

in LeoFinance3 months ago

Hey Leo's

The now infamous hack of wLEO has been the talk of the community for some time now and while the strong hands of an investment community like this aren't easily rocked, and the sentiment has been overwhelmingly positive, which really speaks to the type of people getting involved in this project. While the LEO community is still small, the knowledge and bullishness and the view of a long term are pretty awesome to watch and be a part of as there is so much upside still to go.

I've been reading the banter in various chats and comments and reading posts, I try to curate and engage with fellow LEO's, and I've learned a fair bit from the use of the platform. Since most of my content is heavily finance-based, this place has suited me like a glove.

The foray into wLEO and Uniswap liquidity pools gave us a view into what LEO's tokenomics policy can do the tokens get a new use case and having only 1 extra use case saw an 8x gain at a price of around $0.25 or so ATH.

The move to ETH allows LEO to tap into a whole new set of supporting use cases as ETH has so much support from various ecosystems such as:



Each exchange that lists LEO or wLEO would require liquidity for traders to swap between whatever pairs they make available. Each exchange listing exposes LEO to new traders pull in new liquidity drive daily trade volume and extract tokens from the main chain putting continuous pressure on liquidity minted by the main chain each day.

With so many DEX's and CEX's providing support for ERC-20 tokens the amount of listings LEO could pursue from smaller exchanges is far too many to count at this point. The continuous adding of exchanges presents one method of expanding the LEO ecosystem.

Hot wallets and cold wallets

Next up would be hot wallets like Jaxx, Edge, BRD and Atomic Wallet to name a few, while Tezor and Ledger as popular cold wallets. Getting support on wallets allows you to tap into the casual HODL'r marketing, pulling more tokens off the main chain and competing for reward and also a new way to pull liquidity out of exchanges as well as the main chain.

Having tokens available in long term storage puts even more pressure on liquidity that could move the price upward.

Investment platforms

Finally, investment platforms like Celsius Network, Crypto.com, BlockFI and other DE-FI platforms provide a new use case to earn, encourage HODL'ing of the coin, tap into a new range of investors and create a new level of demand for the token.

Pulling out liquidity

Each time a new use case and platform is added it continues to put pressure on liquidity if LEO can build out such an ecosystem over the next few months and years any price prediction you run now would be undershooting the possibilities.

If you look at the value of many ETH tokens that don't even have half of a working product but are in these platforms, you'll see how strong an effect it has on a tokens price.

LEO has so much upside potential, and this does not even count the additional uses it could bring from traders, wallet users and exchange users that would flock in wanting to know more about where this token comes from and how it can be used.

The more exposed the token becomes with the help of the various uses of LEO would do more than many marketing campaigns would. It would then hopefully encourage users to follow the path back to the site itself.

This would create a healthy flow of tokens in and out of the system.

Have your say

What do you good people of HIVE think? What other use cases would you like to see for LEO?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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I just updated my ledger earlier and saw that they are enabling swaps now so that plays pretty nicely into cold storage options you mentioned.

Have to say, the Leo folks are leading the way with the developments and projects they are working on (even after the wleo incident) - I just nabbed some more about 1.1:1, which seemed like a good deal!

That’s awesome I only keep BTC in my legder though I wouldn’t want to corrupt it with other coins lol if I ever wanted to store other coins long term I’d ger a seperate one but that’s just me!

I have been reading about RGB which would allow you to mint NFT and tokens on the lightning network which is would make a legder even more tasty once that’s live

Like super fast transactions, DE-FI and assets on BTC layer 2, id be living the dream

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Haha, it's just the app you have on your Ledger, as long as you have the seed phrase, you're fine! But I do like the look of the family bundle of Ledger Xs...

I haven't come across RGB before but I think it's only a matter of time before we can start doing even more with the Ledger, these guys are on it! You and me both living the dream - defi BTC on the ledger earning us sats in our sleep. I'm in!

Oh don't you worry I will be breaking down RGB this week I've been learning more about it and will drop my research on you shortly, trust me, I see that becoming more of reality every day, we're a few years off but why not get that head start and stack a solid bounty to be able to De-FI with once its all in play

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Sweet! Look forward to checking it out! All we need now is a hit single from Mark Morrison called "Return of the Stack" when we unleash our BTC to the ledger leasing world!

While wLEO opens the token up to being able to integrate with Ethereum dApps, I still want to see subscription services integrated on the Hive blogging front-end.

The ability to monetise premium content through subscriptions will attract quality, outside authors and course creators.

Readers can then use the LEO they've earned for free (or bought off the market to speed up the process) to access premium content.

In my opinion, the Hive rewards model has so much potential if a premium subscription service is integrated.

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I do like that idea I think peakd has it somewhere on their future development roadmap! I would like to see that and confidential transactions

So let’s say I want to paywall my content I would have to BURN 1 HIVE for example to encrypt it and any time I need to make changes to the content! This means the user commits a small portion of the inflation to securing his or her content and an investment in the chain

Then they can earn from subs paying to unlock the content as per normal! I just think that certain services need to be made paid services and let’s say if you staking 5000 HIVE you don’t need to pay the encryption fee!

Then we have an incentive for creators to HODL and not dump every time they earn or burn some supply to earn which I think creates a healthy token use

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There is huge potential by accessing different blockchains. Ethereum is just the first.

While wLEO stalled out, for now, the new metamask sign up is in place plus the ability to swap LEO for ETH (or the other way around) is also there.

All of this is a big step forward.

I think we see similar additions to EOS, TRON, and maybe Cardano.

LEO is going to be able to access users from most of the blockcahins.

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I would like to see that too, minting on EOS, TRON and ADA and they can be added to that wallet support

I think wallets also need to become more dynamic so let’s say you have a JAXX hot wallet or even the LEO site wallet and you had LEO it would show you which type you have the EOS one the ETH one or the original one and you’ll be able to swap in wallet between the various chains pay a fee and then go on to use the dapps you want to use

That’s going to open up all kinds of paths in and out of this ecosystem and thats where the fun really starts

I cracked my 5k LEO goal fast approaching 10k staked and I’ll keep pushing my luck as long as I’m allowed to

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We need to catch a big exchange as soon as possible in my opinion. Uniswap is on hold for the moment and Hive-Engine just doesn't cut it. And with Ethereum bridge we will get more users and they need one way to exchange pretty fast and with a small gap between sell and buy prices and increased liquidity. Hopefully we can see this materialized short term, otherwise will hold us back.

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A big exchange would be a great win, but I think picking up these smaller exchanges would be good practice, there are places like Hoo and Nexdex that have already listed Appics, which is nowhere near as good as LEO so why not list LEO too?

I think each exchange no matter how small ads to the market making of LEO and allows people to want to arbitrage there as they can make gains between the various exchanges.

Most of the big exchanges are only big due to their ability to market makers and wash trade and there's not actually that much upside that would make worth spending to get listed. I say build up momentum and let them list you organically.

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any idea if they have listed a pegged version or the native steem engine appics?

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I am not sure, I don’t even know how they got listed on those exchanges! I know the one is an EOS based exchange so it could be a pegged thing