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Roundtable #18: Wrapped LEO, Price Predictions, Liquidity Pools and the New LeoFinance Interface
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Wrapped LEO (wLEO) is coming and we’re all preparing ourselves for what’s going to happen to the LEO token economy. A lot of LeoFinance users and LEO token HODLers are trying to figure out exactly how to navigate this uncharted territory as we venture out from Hive and explore the Ethereum blockchain, Decentralized Exchanges and DeFi protocols.
This whole DeFi industry is emerging and growing fast. The key is going to be the coupling of fundamental developments with FOMO. As people FOMO into the coins that are listed on Uniswap (which wLEO will soon join the ranks of), we truly need to see fundamental development that warrants the speculative increases in price. Without fundamental developments, you’re just holding a speculative asset that isn’t worth anything outside of the bubble.
As the launch of wLEO gets closer, we’re answering many of the fundamental questions that arise. Users on Hive and LeoFinance are wondering about how to get involved, what it does for the LEO token economy, how the LEO price will be impacted and more.
One of the main questions we’ve been seeing is: What’s the Point of Wrapped LEO? Why would you create an ERC20 token?
Launching an ERC20 token equivalent of LEO has always been in the back of our minds. The way that LEO is currently structured means that the ability for outside investors and potential users to get a hold of LEO and participate in the LeoFinance platform is **limited to people with Hive accounts**.
By adding an ERC20 token bridge between LEO and wLEO, we're effectively opening up the floodgates to potential investors, users and speculators. At the start, this means that wLEO will be listed on the most popular DEXes like Uniswap and will soon branch out into other protocols like Balancer.
We talk about all of this and more in today’s LEO roundtable podcast.
Show Notes: https://leofinance.io/hive-167922/@khaleelkazi/saslknpp
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