When Would Be The Best Time To Start Onboarding Users To LeoFinance?

in LeoFinance •  6 months ago  (edited)

The release of LeoInfra is big

LeoInfra has been released.

Check out the announcement post here:


What this means is that signing up and signing in are now possible using a Metamask wallet while LeoInfra has custody of the users Hive account keys. Any Metamask user who has signed up can now do anything any regular Hive user can. You read about LeoInfra and its road map for the future in detail in the post.

Marketing LeoFinance to people in crypto will be easier

But what I had in mind was marketing LeoFinance to Metamask users and other crypto enthusiasts in the wider world. I have noticed that there are still some hard fork related bugs in various apps, which is why I have been using Ecency to post to Hive in the past few days because it is the most reliable one of all the blogging apps. I wouldn't want to onboard people and for them to have a bad user experience because of the bugs.

It would be ideal to get the Metamask users to provide liquidity for the wLEO/ETH Uniswap pair

Another issue is the fact that wLEO will most likely not be relaunched for quite some time. Taking the necessary time to discover the bugs that made the hack possible and to find any other bugs lurking in any of the various programs making wLEO work is the smart policy right now. If the bug was in the smart contract code on Ethereum itself, then the original wLEO would be dead and will remain so for as long as Ethereum runs. If the bugs or vulnerabilities were elsewhere, then reviving the original wLEO could be in the cards. What I would prefer to do is only try and onboard users when the possibility to send one's rewards first converted into ETH to the wLEO/ETH Uniswap pool is again possible.

I believe onboarding Metamask users without them having to take control of their Hive account keys will be much easier than onboarding users straight to Hive. Ethereum has brand recognition and most of even the most conservative crypto investors recognize the value of Ethereum. Getting these people to blog about crypto while earning ETH should be easier than getting them to do the same for HIVE. But it would be great if these users had to opportunity to allocate at least some of their rewards towards liquidity provision for the new Uniswap wLEO/ETH pair.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

IMHO, we shall wait a bit. At least - until we hear some more details on the hack, and new updated roadmap for wLEO relaunch.
At this time I can only guess, if it (relaunch) may happen after 2 weeks, 2 month, or maybe only in 2021. Just wait, post, curate, reblog....as normie, by daily routine.
That's my understanding.
Someone correct me, is you see me wrong.

Posted Using LeoFinance Beta

I agree. The wLEO relaunch sounds about the right time to get serious about onboarding Ethereum users.

I guess that there's always the time right for someone out there so if you feel like onboarding people, start rolling. I consider that any app that aims to get mainstream has to be easy to use and the easier and more at hand Hive built apps are getting the more users we will have. Regarding posting content on Hive, besides leofinance, I am only doing it through Peakd. Gave up hive.blog for good.

I'm afraid there are so many bugs form the hard fork that it might be counterproductive to onboard anyone right now.

They have the ability to claim rewards in ETH without having to claim their Hive account. This is a feature that exists now.

But to answer your question, I agree, more needs to be done. I would wait until more is being offered for a big campaign. Leofinance is still a blogging platform, something most are not truly interested in. However, with a couple more updates, the UI can move away from that rather quickly.

At the same time, it is best to let the bugs from the HF be solved. No point in pulling a ton of users if they are going to get frustrated and leave.

Posted Using LeoFinance Beta

Bug from the HF still linger. For example, when I open a post on LeoFinance, I don't see the comments. I can't make top-level posts from any other front end than Ecency. I can't claim rewards on PeakD. This is all very annoying and I certainly wouldn't want to subject any newbie to this.

Another thing that comes to my mind is that most ethereum holders are pretty much interested in only using their ETH to get rewards without actively being involved, whereas on here, they will need to blog and possibly curate. I spoke to an ETH holder friend about this, he was more interested in the direct automation of curation, buy stake in Leo with his ethereum, then stake them and curate with them without actively being there. If all this process could be automated from the wallet UI then maybe it'll be more appealing

Posted Using LeoFinance Beta

Yeah, passively investing in LEO is something to look into. Rather than auto-curation, I think a leasing market for Leo Power would be much more beneficial for the ecosystem and the price of LEO. Auto-voting damages curation. We don't want shit posts being auto-voted on. It would make economic sense for ETH holders to rent Leo Power to motivated curators by simply depositing ETH through the UI and collect passive income in ETH. That's because renting it to motivated curators would be more likely to positively impact the price of LEO.

Also, when wLEO is relaunched ETH holders can become liquidity providers to the wLEO/ETH pools.

Posted Using LeoFinance Beta

Yes exactly, you get my idea and have put it the right way. Namaste