There seems to be a whole lot of excitement with the next level of development from the @leofinance team. Wrapped LEO.
External Exchanges Here We Come!
One of the core visions for LEO is to bring in more users and investors. We want to continually make it easier and easier to buy, sell and utilize LEO on a daily basis - whether you're on Hive or not.
I've always believed that we would make it to a number of big external exchanges, but I thought that we would do it under the guise of an SMT. Now that we're launching wLEO, you'll start to see wLEO listed on exchanges like Uniswap - which just surpassed the daily trading volume of Coinbase as of yesterday.
Source:Leofinance
@steem.leo/introducing-wrapped-leo-or-exchange-listings-and-liquidity-pool-incentives
As one of the top performing teams developing on the hive blockchain it comes as no surprise that they are following in the successful footsteps of wHIVE and creating an ETH pair for defi and opening onto other exchanges. Considering that they have already expanded their offering from a simple tribe to an all encompassing front-end and community. Provide analytics and a valuable token pair as well as constant development and updates. You can see why people are backing this latest revelation with their money.
59% in just three hours is no mean feat for any token, never mind one being developed on the Hive blockchain. You might think that it is just an initial pump but looking at the market says that if you want to be a part of this then you had better get in fast before the price keeps going higher.
One problem that we have with LEO (which has been outlined by community members like @edicted) is that we actually have a lack of liquid LEO tokens.
Our community is a community of deeply entrenched HODLers. As you can see on the latest @leo.stats report, about 90% of all LEO tokens in circulation are actually powered up and therefore, not currently available for providing liquidity to protocols like Uniswap.
The buy wall is strong here with very little to be sold. Exactly as the leo team has stated in their own post. Luckily I had been buying some tokens during the week anyway without knowing anything about these latest developments and am very happy to see this. I also picked up a few more today on the back of the announcement.
While I don't know much about Defi and how they will go about all of this. I do know about good development work which they have shown in spades for the past year. Strong and consistent development. That speaks very loudly to me.
Always do your own research before investing in any token. These are my opinions and not financial advice.
This will be very interesting to watch and an interesting experiment in hive trading pairs. To see if they can create a more valuable token by trading off chain and adding liquidity to #LEO. Also an opportunity to show what can be built on HIVE with it's fast free transactions. Being able to show that using HIVE as a base layer won't limit your reach or potential but can actually use it to your advantage in growing out a project.