How LeoFi.io can turn you into a Leo whale on a budget ? LEO&HODL CONTEST

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Leo Fi The Place where you can turn into a Leo whale on a budget

If you are the Leofinance.io platform which is a Leading web 3.0 and Defi Eco system built on the hive Blockchain then there are good chances that you have come acrorss a real Leo whale.

At times all of us wonder what would it take in terms of time efforts and investments to become a Leo whale. Now here is an opportunity to become a leo whale on a budget using the Leofi.io platfoem

LeoFi The Place to lease and lend your Leo power

Leo is the native token of leofinance.io a layer 2 platform built over the Hive blockchain.
With a focus on crypto, blockchain and financial content it is always buzzing with activity.

voting up is part of the activity

If you like some content on Leofinance.io you can appreciate your appreciation by up voting it by pressing heart icon below the posted content.

The amout of reward that you can give depends upon your leo power.
The more you have the more you can give.

Giving involves getting back

By giving an up vote you get a 50% curation reward.
So $ 10 worth of Leo Vote would mean a $ 5 worth of curation reward.

The big question is where to get the leopower from ?
Check your leo wallet for the amount of tokens you have by following the url https://leofinance.io/@yourleousername/wallet

A user can use the existing Leo tokens to power up by clicking the button as shown

A second way is to buy leo from a dex like leodex.io and powerup

A third option is to borrow leo power on interest from LoFi

This is a way in which you pay a rent for the leo power that you take on lease.

Let us see how the process works
A user can visit the Leofi site https://leofi.io/ and login with

Using You hive username you can use login with the hive keychain.
If you do not have the hive keychain then there is a detailed guide created by @khaleelkazi which you can forllow from here

The LeoFi Dashboard

Post login the dashboard shows you information like

• Leases Available
• Ongoing Leases and
• Maximum APR currently it shows APR of 7%
  
  It is interesting to see how we can lease some Leo Power

Let us request some lease

For this one needs to click the "request lease" button.

The next screen prompts you to fill in the details like

• Which account do you want to lease LEO Power for? :
• Which account do you want to lease LEO Power for?:
• How much do you want to pay per week?:
• How long do you want to lease LEO Power for?:

After filling in this info we get the APR calculated automatically
When I fill in the information the form calculates the APR

Click Next to proceed
The Next screen prompts you to make a payment in advance

Post the completion of the payment the lease request becomes available to anyone who wishes to fulfill my request.

Pro Tip : Keep a realistic APR to match the entries on the fist page for your lease request to be filled in.
If it is too low it may never be filled in.

With this information you are all set to lease some leo power.

You can also earn some Leo for fullfilling a lease request.

This function can be used to help a user make use of their spare leopower and earn daily tokens.
For example if one were to fulfill the encircled request then it would earn the person 0.226 Leo per day.

How much does it cost to be leo whale ?

Let us do the maths
Suppose we want to lease 20000 Leo Power then the maths works like this

So 51.2 is what you pay to be a leowhale for a week.

What the developers can do to make the platform more popular ?

The Leofi.io offers tremendous value to the users. However it remains a hidden gem which few people know of or use.
A good option would be to set up a leo account and publish periodic reports to increase awareness.
holding contests like like content writing, meme creation etc can increase awareness too.
On the developer side I feel it would be a good thing to have a button to cancel the lease request.
Plus a disclaimer note telling what is the window for which the lease request remains.
My assumption is that it would be a 7 day window though I do not see it mentioned on the site.

Adding the discord and other social media handles would increase more confidence in the users.
Though the site says "LeoFi is in Open Beta. Use At Your Own Discretion and If You Discover a Bug, Report it in Discord."
However the discord link was not found by me.

Conclusion

On Leofi.io less is more so with limited resources you can become a leo whale.
https://leofi.io/ is doing a great service and a valuable product that is functional however needs some promotion.
As users it has some solid use cases to lease leopower and make the most of the lease power on a budget as the current lease request APR is quite reasonable at 7% at the time of writing this post.

The other side is using the spare lease power you have to put to use by leasing it out and earn Leo tokens every day.

Either way it is a win win for both set of users.

I would like to invite @itsme9001 @alz190 & @twistytango to participate in this contest
https://leofinance.io/@idiosyncratic1/leo-and-hodl-contest-week-10-focus-leofi

Posted Using LeoFinance ^Beta