A New Leo Journey
- The founder of InLeo @khaleelkazi announced during the last AMA a new exchange listing for Leo token, on an cryptocurrency exchange called Cacaoswap. The listing is a trading pair wleo-cacao. This announcement contained a request that all Inleo Community Lions who are able provide liquidity for this trading pair.
- wleo is a wrapped version of the Leo token on the Ethereum blockchain.
- This post explains what a wrapped token is, what wleo is, where you can buy it, and where you can buy cacao token.
- This post also explains how to provide liquidity to this pair through the POOLS section of Cacaoswap.
- **Most importantly **this post explains where to get a wallet, which can hold both these tokens. If you skip this step you will lose your tokens and lose your money. Lastly this post explains what it means to "provide liquidity" to the swap pair wleo-cacao.
Please provide liquidity to this new trading pair
- Cacaoswap is a new cryptocurrency exchange, which is listing for Leo token, as a trading pair wleo-cacao. [Now aLeo on arbitrum]
- You will earn money by providing liquidity to the wleo-cacao trading pair.
- Providing Liquidity mean you deposit one or both** wleo and cacao** tokens into the trading pair; wleo-cacao via a section of the Cacaoswap webpage called POOLS.
- Then you earn a commission everytime someone buys wleo or cacao from the trading pair wleo-cacao on Cacaoswap.
Why is it good to have Leo listed on Cacaoswap on the Maya blockchain?
- @khaleelkazi gave many reasons for this move and it’s best to listen to the AMA, at this Link.
- I believe it provides visibility for the token, the Inleo community, the Hive Community and provides a trading route from Maya to Hive.
wLeo
- The token wLeo is a so called wrapped token representing the value of the Leo token on the Ethereum blockchain.
- In order to understand all this you must understand crypto tokens are blockchain specific, and exist only on their blockchain.
- For example, the bitcoin token exists only on the Bitcoin blockchain.
- The hive token exists only on the Hive blockchain.
- The Leo token exists only on the Hive-Engine blockchain, which is technically a “side-chain” of Hive.
Note yesterday during the AMA Khal changed from wLeo on Ethereium to a new token aLeo on Arbitrum due to fees on Ethereum being to high.
Wrapped Tokens
- Some blockchains allow you to MINT or create new tokens on the blockchain, which represent the VALUE of a token from ANOTHER blockchain, on that blockchain. For example bitcoin is a token on the Bitcoin blockchain. There are tokens on the Ethereum blockchain, called WRAPPED bitcoin or Wbtc, which are tokens on the Ethereum Blockchain which represent the VALUE of bitcoin tokens from the Bitcoin blockchain on the Ethereum blockchain.
- So @khaleelkazi MINTED wLEO tokens on the Ethereum blockchain, and they represent the VALUE of Leo on Ethereum. These are WRAPPED Leo called WLEO just like Wbtc is called Wrapped bitcoin.
How to buy and deposit wleo and cacao in the New Listing
- The new listing for Leo on the crypto exchange Cacaoswap is a trading pair WLEO-CACAO. Note yesterday during the AMA Khal changed from wLeo on Ethereium to a new token aLeo on Arbitrum due to fees on Ethereum being to high.
- When it occurs you will find it in the Pools section of the cacaoswap website.
- So you need a wallet to hold them both.
- I normally hold Wrapped Leo in my MetaMask wallet, for Ethereum tokens, but I needed a new wallet to hold both Cacao and WLEO.
- After speaking to @edicted and @tokenizedsociety I decided to go with the x-Defi wallet.
- I downloaded it from the website, then I sent some ether there from another wallet. x-Defi Wallet
- Then I went to the Uniswap website, opened the application, and found the wLeo-eth trading pair, and bought some wLeo.
- Then I disconnected my wallet from Uniswap.
- Then I went to Cacaoswap and connected my wallet.
- Then I found a cacao-eth trading pair, and I swapped ether for cacao.
- Now I have wleo and cacao in the same wallet.
- When Cacaoswap lists the wleo-cacao trading pair, I will connect my wallet to Cacaoswap, click POOLS, look at the list for the WLEO-CACAO pair, or type in the trading pair wleo-cacao, and add equal dollar amounts of both to the pair. this is called providing LIQUIDITY.
- Nifty says You can deposit asymmetric amounts also, but with possible slippage.
- Then I will earn passive income anytime someone uses this trading pair to buy wleo or cacao. Note yesterday during the AMA Khal changed from wLeo on Ethereium to a new token aLeo on Arbitrum due to fees on Ethereum being to high.
Next
- You can now relax and make money whenever someone comes to Cacaoswap to trade.
- Your tokens may also increase in value while in the pool, so you could earn both APPRECIATION or increased price and TRADING COMMISSIONs from your participation.
Maya Protocol Announcement on Twitter
- The great thing is that the Maya Protocol has announced the listing of the token on Cacaoswap via X! link
Risks
- There is a chance the tokens will decline in value, or one could increase and the other decline. Price is unpredictable, but in general things move in a positive direction. It is extremely important that you keep track of the value of both tokens and remove your deposiotied tokens if the price drops significant to stop losing money. You shold go into this with a plan to remove your liquidity if the token appreciates a certain amount, an amount your decide or remove your tokens if the price declines a certain amount.
- Realize that volatility is common, and only you can decide how much loss you are willing to take before removing your coins. It is possible the price will go up and down.
Alternative way to provide liquidity
- If you decide to provide Liquidity after the listing opens you could participate another way:
- Down load the x-Defi wallet or another wallet, which can safely hold both tokens wleo from Ethereum and cacao from Maya.
- Send ether to this wallet, and connect to Uniswap, and buy twice the amount of wleo which you want to deposit into the wleo-cacao trading pair.
- Remember you want to deposit equal dollar amounts of each in Cacaoswap.
- The disconnect from Uniswap and connect this wallet to Cacaoswap.
- Click POOLS
- Find the wleo-cacao trading pair and use one half your wleo to buy cacao. Note yesterday during the AMA Khal changed from wLeo on Ethereium to a new token aLeo on Arbitrum due to fees on Ethereum being to high.
- This gives you equal dollar amounts of both wleo and cacao.
- Find the add liquidity section on cacaoswap, and then add equal dollar amounts of both wleo and cacao to the trading pair.
- In exchange you will be given Liquidity Provider Tokens for this pair.
- Keep these safe, as they are your receipt for the tokens you just deposited.
- Now relax and earn tokens from other peoples trades.
- But once again, check the value of the tokens twice a day and be prepared to withdrawal and sell them for a profit, when they hit your predetermined value.
- Additionally be prepared to withdrawal and sell them when they hit your predetermined value if the token falls.
- Some investors only invest an amount they can afford to lose and they deposit with a goal of just being a longterm supported of the trading pair, and never sell.
- Others deposit thinking the tokens will go up and down, but overtime they will appreciate and they just hold the tokens regardless of price or value.
- That's a decision only you can make, based on your financial situation.
Other Articles by Hive and Inleo Community Members about Maya, Cacaoswap and this wleo-cacao pool:
Getting Started with Maya Protocol | wLEO-CACAO Listing
by @l337m45732 @l337m45732/getting-started-with-maya-protocol-wleocacao-listing
wLEO Maya Listing + Cub Sunset
by @edicted @edicted/wleo-maya-listing-cub-sunset
LEO Token Listing on Maya Protocol
By @alokkumar121 @alokkumar121/leo-token-listing-on-maya-protocol
Beyond Our Borders: LEO is Getting Listed on the Maya Blockchain
By @khaleelkazi @khaleelkazi/beyond-our-borders-leo-is-getting-listed-on-the-maya-blockchain
If you see other articles please add them in the comments below, and I will add them to this article.
- Thank you for reading, please comment below.
The End
About me.
I am a writer who has focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance for over six years. But I also like to write about life, my garden, my island home and other stuff.
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