Couldn't resist to power-up my LEO

in LeoFinance •  3 months ago 

We all went through two emotionally exhausting weeks here at Leofinance. A very good read is the summary of events published by @leofinace last announcement that also explains the future of wLEO and the redistribution of saved ETH + LEO to the LiquidityProviders that were not able to save their funds during the hack.

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I contributed with 6ETH of which I changed 3 into wLEO to put them together with another 3 ETH into the pool. I was (and I am still) sceptical about the business model of compounding with Uniswap-protocols. What is the long-term value of a token that can be staked only to generate more of itself, also if paired with a valuable currency like ETH? It might be that some of the new protocols and tokens will invent a business-model afterwards, with the money they generated by the Uniswap pool, but I like it the other way around. A valuable business-model, tailored to a specific customer segment making a good value proposition to this group. All this I definitely find in Leofinance, and therefore I supported the step out of the HIVE Ecosystem from the beginning. Mostly passively observing the developments of STEEM and HIVE over the last 3 years, I support the conclusion, that stepping out to onboard a new audience is the way to go. Making this process as easy as possible for a group that is not totally naive to crypto and the technique behind it, has good chances of success. Linking LEO to ETH and it's growth dynamic we are going to witness since this long crypto-winter is over, is a very intelligent move. It will leverage the FOMO moonshot that we are about to see for ETH design - not only by belive and hysteria (as it was in 2017 for almost all the Alt-coins). So in summary, wLEO was (and in November will be again) a project I understood, believed in and therefore supported.
Noticing that this wonderful idea has been hacked by a criminal that most probably has no clue about the potential of wLEO was hard. However, I was also a victim of the MtGox hack and therefore learned my lesson, not to risk too much, years ago. But it is still a risky game and this kind of losses are things you have to deal with. Therefore, I am super impressed by how the leofinance team handled the situation and bought out their early investors. This is not the normal way things are going. When I saw that 2.5 ETH and 7533 LEO have been added to my wallets as a refund, I was more than impressed by the attitude, the culture and the spirit of the Leo-Team. I will definitely participate in the next wLEO pool, and therefore should have left my LEO unstaked. However, I find a lot of fun in commenting and manual curation here and therefore couldn't resist to power-up.
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It feels good to encourage writers with my upvote that is no longer only a fraction of a LEO. The linear curation curve gives me the security that I don't miss out against auto voters and gives me time to read, learn and fairly distribute my votes on the content I like. Hopefully, this will result in more of this content - but we all know, gamification of social media is not an easy task especially if some kind of value is involved. We will see how things are playing out, but overall I am magnitudes more positive this blockchain and its future than I was for a long time.

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Like you I'm skeptical about Uniswap but I felt the positivity / overall upward energy of LEO and decided to dive in on the first day of the WLEO-ETH. If we forget the hack, I haven't regretted my decision at all.

Gotta love that linear curation curve indeed! I have been curating manually ( and leaving encouraging comments ) on Hive and previous Steemit for years and I often felt like it wasn't worth my time / I was undervalued. It's a different story here on Leo though, so recently this has become the community where I spend most of my time ( even if my 'friends' hang out in other tribes ). I have undervalued myself for way too long and it's time to shift the tables and change my money story.

We will see how things are playing out, but overall I am magnitudes more positive this blockchain and its future than I was for a long time.

Same here!

Have a great ( remainder of your ) Sunday!

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Indeed, the comment section is the place that motivates authors to stay and to provide quality. It can also discourage if there is a lot of trolling, but fortunately here at LEO everything is really optimistic and cherishing at the moment. Hope this continues

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I think that stems from the fact that many of the large LEO stake holders are optimistic about whatever topic they are commenting upon as opposed to be in the class of trying to simply bilk the system.

This sets a tone when people have a more long term view. Few with much stake are looking to get a few hive per LEO. I think the sights are set much higher.

For that to happen, one of the main things that must take place is engagement on the base interface. This is what we are starting to produce now.

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I think that stems from the fact that many of the large LEO stake holders are optimistic about whatever topic they are commenting upon as opposed to be in the class of trying to simply bilk the system.

You make a good point here. In LEO we trust! ;<)

Let's definitely focus on engagement. Especially in these times where isolation is becoming more of an issue, we can do the opposite on 'social' places like these on the blockchain. Future riches will hopefully also lead to more possibilities to get out of isolation in the future and meet up in real life.

When will the first LEOfest happen? ;<)

When will the first LEOfest happen? ;<)

I think we consider that when the 40K user level is hit. Then we will have a nice group to pull from.

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Sounds like a plan :<)

Indeed, the comment section is the place that motivates authors to stay and to provide quality.

Very much so. No matter how high the price, if I had no interaction going on in my timeline, I would have left this place years ago.

Yeah, trolls are huge energy drainers. Luckily, aside from some clowning around and optimistic trolling, Leofinance is indeed quite the positive place.

Misplaced negativity perhaps?

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not sure what this is referring to / a reply on? :<)

Thanks for the power up. I was unsure on the uniswap pool for a while but towards the end I did jump in. I will see what’s the next version brings. I am hopeful

Yeah, lets have a look how it is designed and incentivized. I am curious...

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"Therefore, I am super impressed by how the leofinance team handled the situation and bought out their early investors. This is not the normal way things are going. When I saw that 2.5 ETH and 7533 LEO have been added to my wallets as a refund, I was more than impressed by the attitude, the culture and the spirit of the Leo-Team."

Thank you 🦁

Powering up is certainly a viable approach to this ecosystem. It is the core of what we are all about.

A lot of people are focusing their attention on rewarding others through their upvotes. This is exciting to see. To be effective, of course, we need to see an increase in the value of our holdings. Staking LEO is a great way to do this.

And as we all know, over time, it just keeps building upon itself.

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