wLEO: What Does This Mean For Authors And Curators?
Many are aware of the announcement earlier today that Leofinance is working on bringing wLEO to life on the ethereum blockchain. This will be its entry into the DeFi mecca that is taking place.
In this video I discuss how the authors and curators could be affected by the big move in LEO that is expected from the staked pool into the liquidity one that will back wLEO.
Here is the article announcing wLEO:
▶️ 3Speak
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Your current Rank (35) in the battle Arena of Holybread has granted you an Upvote of 17%
Your figures are slightly out. 400-500 000 Leo would only have the value of $20-25 000. I calculated they would need 2.5 million which is over 50% of the 4.6 million circulating supply.
Honestly, of all your videos that you produced, this one undoubtedly wanted to understand better. I'm sorry if that insults you. But this is a very interesting subject for us authors and curators. See the impact of this announcement on what can benefit or "disrupt" our lives.
I believe that this should not interfere in any way, I even like the idea that LEO is more useful than the Hive blockchain. It will be a major breakthrough for LEO and I hope it can attract more investors and perhaps more users to Hive.
I will try to put the video very slowly to see if I can translate your words. It would be interesting on that 3Speak platform if there could be a caption. This would facilitate independent understanding of the language.
I'm really curious to know if big LEO holders are going to shut down to invest in the pool.
Posted Using LeoFinance
I think, don't know for sure, that many of the larger stake holders will power down, at least some, to provide LEO for the liquidity pool. This is an opportunity to reach outside the ecosystem for LEO.
However, for the authors and curators, this is an opportunity as smaller account now have a bigger influence than they did before. Their percentage of the token staked goes up if the larger accounts power down. This will result in a higher Voting Power for each upvote given. Also, author rewards might increase for many smaller accounts since the autovoters are done a lot by large LEO holders.
Posted Using LeoFinance
Thank you and that is thanks to your support too.
With wLEO we can have good surprises for the coming weeks.
Posted Using LeoFinance
Great educational video for everyone and specially for someone like me who is scratching his head with all these new beginnings. I think your analysis is to the point. I hope they do power down their big leo account and let the others play the playing field.
I think I started being active on Leo-finance during an exciting transition. Hope I will be able to gain more and get exposed to all these development.
Thanks fo the video. It is truly eyeopening.
ra
Posted Using LeoFinance
This is a great take on these developments. The move by Leo will benefit everyone in the community, big or small. Exciting times for all LEO Hodlers.
morning,everyone
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Do not miss the last post from @hivebuzz:
Why don't you show your eyes?
Untrustworthy always in glasses.
You also don't speak of the very real FOMO effect that will drain the platform of blogging activity. if big holders go over to 'wrapping paper world' and get better returns then so will the other smaller holders as they realise blogging is too much work compared to just providing liquidity over there.
As it is, this Hive thing is REWARDS BY BLIND VOTES. That's why the 50/50 system was implemented. So that holders don't even need to make content. Just vote (through automation). So naturally wHive is even less work for returns. Just drop your Holdings in the pool of 'Dex trade dreamers' and you gain even more than backing bloggers.
You fools chasing rewards don't realize that if wHive & wLeo succeeds then this blogging operation is guaranteed a quick death.
What you should be creating (not you specifically) is recreating the DeFi system HERE. Or something that attracts OTHER cryptos to play (wrap themselves up) with Hive HERE. Wrapping Hive over there WILL NOT attract investors here if everyone jumps into DeFi and blogging here dies.
WHY THE HELL (FOR WHAT) will people want to bring their money here if the community activity dies?
I don't agree that the community activity and blogging aspect will die. If passive investors drop off, then investors with other aspirations on LeoFinance will take their place.
In my opinion we're still going to see LeoFinance turn into a Seeking Alpha type of site that hosts subscription based, premium analysis and services. The way you get seen and build this type of service based business here, is to have staked LEO and then let your writing/networking do the talking.
By unstaking LEO and adding it to wLEO liquidity for a short term cash boost, this won't help build an external business. The slack is going to be picked up.
Posted Using LeoFinance
In analogy: a building that was once a raging fire still burns after it's declared "out". The smouldering however, is not at all comparable to the fire which once attracted attention.
There's no real money entering these projects here. The user numbers are also very small. The community celebrated as most successful (gaming) only has max 3000 users active. It's always optimistic from within a system/platform/project. Outsiders however don't have to pretend to maintain a "positive" outlook.
Market cap is also a very real measure of the state of a crypyo. Hive continues to tank. Overnight a lot of money excited too (which looks very manipulated).. making it clear that crypto is controlled by exchanges. If you're a trader you should buy right now actually because when a blanket drop happens it's usually because a big wig wants to jump in but at a lower price, to then dump the recovery.
As for reasons to buy long though, I don't see Hive as a good option. Because it's a big negative to see coders here trying to attach this chain (and it's sub tokens) to external success. That's not a good sign. That's the equivalent of jumping ship.
This is all a bit dramatic, isn't it?
By getting involved in DeFi on Ethereum, nobody is jumping ship. They're simply adding another use-case for a Hive token and putting more eyeballs on it. Chain interoperability is a good thing for all. Hive included.
wLEO is just a small part of the LeoFinance project and and even smaller part of the LEO Token economy. It's certainly not going to define the project or the coin.
Posted Using LeoFinance
Well crypto is highly competitive. I don't believe in mutual benefits. You can spin it however you like, as I said.. from within you kind of have to. As an outsider though there's no other way to analyse it.
Specially when the real money is ALL OVER THERE and the very words from those that are coding those wraps are... "there's billions getting moved through that DeFi and we're missing out."
Summary:
In this video, the speaker discusses the introduction of WLEO, an ERC20 token on Ethereum that is being developed by steam.leo, the official Leo Finance account. The speaker highlights the importance of funding the liquidity pool for WLEO and how it can impact Leo holders. The introduction of WLEO provides Leo holders with the option to stake Leo, sell it, or wrap it into WLEO, affecting their voting power and curation rewards. The speaker emphasizes that the daily Leo reward pool remains unaffected by WLEO, leading to potential changes in voting power and rewards distribution within the Leo Finance community.
Detailed Article:
The video revolves around the introduction of WLEO, an ERC20 token on Ethereum developed by steam.leo, the official Leo Finance account. The speaker draws parallels with the previous announcement of W-Hive, showcasing the Hive community's efforts to expand beyond its ecosystem and tap into the DeFi opportunities on Ethereum. The speaker elucidates that each WLEO token creation requires one Leo to be contributed to the liquidity pool on platforms like Uniswap. To be considered a legitimate player, a significant amount, ranging from fifty to a hundred thousand dollars in liquidity, needs to be present in the pool.
The discussion then delves into the implications of funding the liquidity pool with Leo tokens. The speaker predicts a substantial amount of Leo, potentially four to five hundred thousand, being moved from staked positions to the liquidity pool. This maneuver is expected to have a significant impact on the Leo holders, particularly in terms of voting power and curation rewards. The speaker explains that as the stake of Leo holders diminishes due to funding the liquidity pool, the remaining holders will witness an increase in their influence within the Leo Finance ecosystem.
Furthermore, the video highlights the potential shift in voting stake dynamics and rewards distribution. Emphasis is placed on the fact that the daily Leo reward pool dedicated to authors and curators remains constant and is independent of WLEO. However, the redistribution of staked Leo tokens to fund WLEO can lead to a reconfiguration in voting power, benefiting smaller accounts and authors. This restructuring is anticipated to create a more equitable environment within the Leo Finance community by reducing the dominance of larger stakeholders and auto voters.
In conclusion, the speaker anticipates a shift in the power structure within the Leo Finance ecosystem due to the introduction of WLEO. The potential influx of Leo tokens into the liquidity pool is projected to amplify the influence of smaller accounts and authors, fostering a more balanced and democratic environment. The video encourages further engagement and questions from the audience regarding this significant development in the Leo Finance community.