wLEO 2.0 goes live on Nov. 10th!
Mark your calendars, wLEO 2.0 goes live on November 10th
In less than 2 weeks wLEO gets another shot.
If you weren't around or do not recall, wLEO launched on Uniswap a couple months back.
What was originally questionable whether wLEO would get over $100k in total liquidity turned into a absolute certainty as wLEO climbed over $400k in total liquidity in a matter of a couple weeks.
Unfortunately (or fortunately depending on how you look at things), someone figured out a way to exploit the wLEO listing on Uniswap and wLEO was basically printed out of thin air diluting the pool and stealing a large chunk of the liquidity providers ethereum.
Fast forward to now and a lot of hard lessons were learned and wLEO is planning to give it another go in less than two weeks time.
The official announcement from the LeoFinance team can be seen here:
https://hive.blog/hive-167922/@leofinance/new-month-to-month-roadmap-and-developer-updates
There is a whole host of security measures being taken this time around that will very likely prevent what happened the last time from ever happening again.
Why does this matter?
For LEO, wLEO is very important.
It matters for a whole of reasons, some of the biggest being that it brings in orders of magnitude more liquidity for the token.
In order to buy LEO right now you must first buy HIVE, then transfer that HIVE to Hive-Engine or the Leodex and from there you can sell the swaphive for LEO.
Not the smoothest process and pretty complicated for anyone not already in the HIVE ecosystem.
The goal going forward is to bring users in from outside the HIVE ecosystem and to really do that we need wLEO.
Plus wLEO also opens the doors for getting listed on some of the popular centralized exchanges.
How cool would it eventually be to see wLEO listed on Bittrex, or Binance?
Imagine how much trading volume and liquidity some of those listings might bring in.
With LEO only having roughly 5.7 million coins outstanding, and a whole lot less than that liquid, it won't take much buying to push the token price to new price levels.
Just for a comparison, LEO could trade for $8 and still be worth less than HIVE is right now.
Currently LEO is trading for $.17, you do the math...
Stay informed my friends.
-Doc
Posted Using LeoFinance Beta
We did well participating the last time.
Our group will likely get involved again with wLEO 2.0.
Posted Using LeoFinance Beta
Did you get out before the hack?
yeah i did
Posted Using LeoFinance Beta
but I hope this time thing doesn't go haywire
Posted Using LeoFinance Beta
im looking forward towLEO 2.0 and leodex V6 with wleo 2.0 I think leo price will rise again
Posted Using LeoFinance Beta
I'm afraid people will be hesitant to provide liquidity this time. Also, with voting rewards are instant and more palpable.
Posted Using LeoFinance Beta
Yea it will be one of those things where if not enough people provide liquidity the rewards for doing so will be so great that it will pull people in. Until it reaches a level where voting makes more sense economically. We were actually pretty close to that level previously with roughly 800k LEO in the pool.
$8 how is the scheme? I still predi ct that leo will be 1 usd
Posted Using LeoFinance Beta
Very much looking fwd to the relaunch of wLEO.
As of two weeks ago, I'm getting myself familiar on topic of wrapped tokens, Uniswap trading, pools and providing liquidity.
At the same time, I moved some funds into LEO, and then the new about wLEO... Comes at just the right time. Kept some LEO liquid to start getting into wLEO when it is made available to us again.
Great development for LEO; Love the quick pace they are going with the Dev side, and totally loved the transparency and openness of the team wrt wLEO incident and the whole research and all. LEO's parents can learn from this, in many ways :)
Posted Using LeoFinance Beta
Yep, same here. It will be interesting to see what kind of confidence there is with investors providing liquidity again this time around. You know the whole, once bitten twice shy type of thing.
Yea indeed, once trust is broken, its always difficult to regain it. That said, they managed to keep the real LEO more or less at a good level. A dip, yes, but again its slowly increasing again... Well slowly, actually increasing in value quite a lot. Last week sometime I was buying some LEO for 1on1 with HIVE, and now its 50% hogher than HiVE... Sure HIVE went down against BTC and $ a lot, but still. Next weeks will be very interesting for sure :)
Posted Using LeoFinance Beta