The Leofinance team was quiet of late. They did not put forth a lot of communication yet that did not mean that things were not happening. In fact, as we are seeing, there is a lot of development taking place.
It appears the roster of developers is expanding. There are a few more to join the team which is going to help things moving forward.
We are seeing this in a few areas.
Leofinance.io
We just got a new update to the main website. This is something that was in the works for a while and now is live. There are still a few bugs to clear up but a few additional features are working.
The biggest one is the notifications which many were asking for. This allows each person to see who replied to them. It should help engagement since all messages can be seen.
There were a few other things that were updated including the uploading of images which were problematic at times.
- Notifications
- Mobile Post Feed Layout Update
- Device Layout Optimizations
- Footer Updates
- Navbar Styling and App Link Update
- Major bug fixes including Image Uploading issues
If you want to see the full announcement, click here
LeoBridge
This was another application that was discussed over the last couple months and was eagerly anticipated. It finally rolled out in MVP form. The bridge is working although under "testing" conditions. Over time, they will increase the limit of what can be converted to between the two chains.
Right now, it allows for interaction between the Ethereum and Binance chains. It is expected that we will see more chains added. This entire premise behind this is interoperability among different ecosystems. It will allow for Leofinance to be a central piece of transactions between a number of chains.
This cross-chain swaps includes 3 tokens at the moment.
- Native LEO (Hive Blockchain)
- Wrapped LEO (Ethereum Blockchain)
- BEP20 LEO (Binance Smart Chain)
This all feeds into the tokenomics that is being erected. It is a system that feeds into the burning of both bLEO and CUB tokens. This is done by the fees that are collected (.25%) for each transaction. This will help to push up the price of both bLEO and CUB which increase the depth of the liquidity pool.
- Phase 1: #ERC20 -> #BEP20 token swaps ✅
- Phase 2: #BEP20 -> #ERC20 token swaps (Q2, 2021)
- Phase 3: #BEP20 -> $HIVE (and vice versa) (Q3, 2021)
- Phase 4: ERC20/BEP20/HIVE -> native #BTC, #ETH.. via $RUNE mainnet (Q3-4 2021)
As we can see it will be tied to Hive even deeper in the 3rd quarter. This will help to create easy movement between all three chains when this is completed.
A post explained some of the details and future development.
Kingdoms
This is an additional layer that is being added to CubFinance. Here is a way to compound returns through automatic reinvesting as well as tying in different liquidity pools. Ergo, people are earning more than just CUB tokens for their stake. They essentially are receiving rewards in two different forms, although payout is in CUB.
The coding for Kingdoms is done. With all that is going on in the DeFi world, it is best to get as much verification as possible. For this reason, the intention appears to be to wait for completion of the CertiK audit.
This is going to be a very attractive feature to those outside the present ecosystem. By expanding the range of what can be pooled, the target market grows. Couple this with the inclusion of LeoBridge and we could really see some funds flowing in.
Development Fueling Everything
It is easy to fall for the hype that often takes place in crypto. We see projects running that have not utility or very few users. However price skyrocket causing everyone to look upon then with envy.
This is not going to radically transform anything. Those tokens that see this kind of run tend to end up crashing at some point. We saw a lot of this in 2017. Much of what people were clamoring over are not longer talked about.
Development is the key to forward progress. This is something that many overlook. It is not exciting or glamorous but it is the path to a more viable platform. Expanding the features is vital to bring in more users.
Few want to be patient. They want everything to happen in an instant. This is not how it works. Being patient means allowing for the first versions of an application to roll out and then waiting for the updates. It is through the later that we see the platform example as more features are added.
Leofinance was one of the best projects on Hive since the formation of communities a couple years ago. It seems that many forgot that and how much the team delivered in the past. In fact, if we look at where things were at the beginning of the year, we can see the advancement.
This is something that is continuing since development is happening on a daily basis. There is a team of developers working on all the different applications that were discussed over the last half year. Slowly we are seeing pieces start to roll out.
Here we see just a few items that are in the process of going live. It is obvious there is a lot more to come.
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