Can LEO reach it's full potential as a Hive-Engine Token?
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LEO has been a stand out performer as a Hive-Engine token, the biggest performer. Thanks to the innovation from the team behind the token and the community that supports it.
The biggest hinderance to greater adoption and value of the token is the current access to a wide range of markets.
The token has branched into wLEO through the DeFi market but I feel it is hindered in this area by the astronomical ETH gas fees. The value of LEO increased as the wLEO pool was introduced. Even after it was hacked, the relaunch was successful and the token went from strength to strength.
My question is this...... What if the token was accessible as a stand alone token and could break the shackles of Hive-Engine? I am not sure whether the team is considering this as an option (or how this might be achieved), but I am sure that having it floated as an EOS token would open another avenue of income and possible token growth and I have blogged about this option before. WeedCash has successfully created a token on the EOS chain and the Hive-Engine WEED token can be easily swapped between the two chains.
One issue that could occur by floating this token is that there is already a LEO cryptocurrency called UNUS SED LEO. Now I don't have an inkling of what this token does or represents, however, it currently sits at just over double our LEO tokens value. If our LEO token was to be floated all on it's own, it would have to change it's ticker to something else.
If it was floated out on it's own, how would Proof of Brain still occur? At the moment, there are many people gaining value daily through blogging and curating? Would the token still be available through Hive-Engine or would there be a fork of some sort from Hive and current token values transferred from Hive? A total fork away from Hive could be a potential windfall but would require Witnesses to secure the network, etc.
With the pending airdrops for LEO coming and some sort of DeFi on the horizon (so I hear) this token is going to continue to grow, but what could be the potential if it broke away from Hive? Or would this undermine the whole project? I am looking forward to the next step from the team, all of who have much more brainpower than I will ever have in this space.
Thanks for reading.
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https://twitter.com/77scooter77/status/1360924018354778112
Break away from hive? I actually don't think so, it needs hive but then in what we are, I've learnt not to overrule anything. Leo is moving in the right direction and the growth is steady and constant.
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Mabie we should add an n and call it Leon, lol
I think staying on Hive is best but an eos coin would be cool.
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I hope Leo can just bring Hive to an all new level and it won't even be considered a hindrance to Leo. I would love to see Leo and Hive continue to grow together. Leo has a bit of a head start and is out ahead, but Hive is going to have its day soon, I think.
no
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LEO's standalone second layer has already been built, we're currently in early-closed testnet as we continue our development on it and launch in a few months.
LEO's new layer is on Hive (as this is the best blockchain for fast, fee-less and scalable transactions and social features) but we will no longer be on Hive-Engine. We need true decentralization and a robust yet flexible node network to operate LEO with. HE offered us a minimum viable way to launch the LEO token but it lacks in the above qualities which are built as the main focus of our new second layer.
More info on this, how Hive users can operate a node on our new second layer and also the governance token which will operate the LEO DAO will be released later in 2021 ;)
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Very cool!
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Great to hear. Lots of interesting things happening. Looking forward to the next 12 months.
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I don't think it will be necessary for Leo to move onto a blockchain of its own. What's wrong with Hive? Why create a fork of Hive, or worse, build a chain out of scratch for Leo to live on? Hive Engine is decentralized now. It's good enough.
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