Best crypto leasing platform - LeoFi
Direct from the desk of Dane Williams.
The best crypto leasing platform is LeoFi - The decentralised leasing marketplace facilitating crypto leasing in the form of LEO Power.
If you’re looking to lease your crypto in return for a fixed, passive APY over a set period of time, then the LeoFi marketplace is for you.
LeoFi is a decentralised crypto leasing platform that facilitates the lending/borrowing of crypto in the form of LEO Power.
This crypto leasing platform relies on those looking for leases to post requests featuring:
- The amount of LEO Power they wish to lease.
- How long they wish the lease to last.
- How much they want to pay.
It’s then up to those looking to lease their LEO Power to accept the APY offered and LeoFi acts as a permissionless middle man to facilitate the lease.
How to buy LEO
As I mentioned above, LeoFi facilitates crypto leasing in the form of LEO Power.
LEO Power is essentially LEO that has been staked to your account and locked up for a period of 4 weeks.
By taking a stake in the token, you are able to earn curation rewards for voting content on leofinance.io and wield social influence across the LeoFinance social network.
In order to buy LEO, you will first need to sign up for a Hive account and then use the LEO Dex to buy and power up that LEO to your account.
If you’re new to LeoFinance and need help with this process jump into the comments and I’ll be happy to walk you through the process.
Why lease your crypto on LeoFi?
The reasons why you’d lease your LEO Power on LeoFi are pretty simple.
I’ve split why you’d lease your crypto on LeoFi into the following 2 sections.
The lender
As a lender, using LeoFi offers you the security of a fixed APY and lease duration.
Something that you may not be able to get if for example you chose to pool your LEO with another asset in an LP, or chose to earn your own curation rewards.
The borrower
As a borrower, using LeoFi allows those looking for more LEO Power to temporarily source what they need.
Whether it’s to increase their social standing in the LeoFinance community or maximise their own curation rewards, LEO Power is a valuable asset.
In the end it’s simply about finding a deal that works for both parties.
If for example a lender is looking for the simplicity of fixed returns and a borrower is willing to put in the extra work to maximise their curation rewards, then a symbiotic deal can be reached.
And the LeoFi marketplace is the best platform to facilitate a deal.
How much can you make by leasing your crypto on LeoFi?
How much you can make leasing your LEO Power on LeoFi will depend on what borrowers are willing to pay.
Let’s take a look at the current leasing tab on the platform:
As you can see, there are currently 21 ongoing crypto leases at an average APR of 7%.
How to request a crypto lease on LeoFi
Requesting a crypto lease on the LeoFi platform is an extremely straightforward 3 step process.
Step 1
Go to leofi.io and click the Lease tab:
Step 2
Click the Request a Lease button and fill out the form:
Step 3
Your request for a crypto lease will now be displayed in the list until it is filled by a lender.
If on the other hand you’re a lender who wants to fill a lease, simply choose the offered lease that works for you and click the Lease button.
Final thoughts on leasing your crypto using LeoFi
LeoFi currently only supports the ability for borrowers who are looking for LEO Power to request a crypto lease.
This means that if you’re a lender who can’t immediately see an APR on offer that works for you, then you’re going to have to play the social game.
Head on over to LeoFinance’s built-in Web3 social media platform called Threads and start asking around.
I guarantee that there are people who have invested in LEO that aren’t maximising their returns and would jump at the opportunity to make a deal.
Best of probabilities to you.
PS. Here is my 2c on a few extra questions:
Why do you think LeoFi is not popular?
People don’t know it exists or that they could be maximising their returns by using the platform.
There are a lot of investors with LEO Power who don’t maximise their curation rewards and would be better off just leasing out their crypto instead.
What can be done by the community to revive LeoFi P2P lending platform?
Talking about LeoFi on the blog and Threads like this is a great start!
If you were a Leo developer, what would you add to this system?
Fixing the Lend tab to allow those with LEO Power to also offer their stake at a price of their choosing would be a great place to start.
Should there be more incentives for people to use LeoFi?
In my opinion, I’d like to see this leasing platform kept purely P2P.
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This is another way to up your game as a lion. Leasing is also profitable
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Leasing your crypto via LeoFi isn't necessarily about maximising your profit.
It's about keeping your returns super simple, secure and predictable.
For example, you might be able to be more profitable if you play the social game and use your stake to curate.
But not everyone has the time to invest into maximising their rewards in this manner.
So for them, simply leasing their crypto out for a fair APR is the much smarter option.
Posted Using LeoFinance Beta
I completely forgot about this feature but is the APR you get for leasing more than the amount you earn from curating? I don't really see much point in it unless you want some more LP otherwise.
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It is extremely useful for people like me that can't be around every day. My curation APR on Hive is like 3-4% while leasing gives me double if not more.
It's a very overlooked market IMO.
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@jfang003 ☝️.
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That is true. Would delegating it out to one of the leo curation services be more profitable than LeoFi?
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That's a good question. I have no idea actually but I'm sure it is close. Most of my leases on LeoFi are between 7 and 12%
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Honestly, I even had no idea about leofi! I must admit leofinance is literally spreading its wings everywhere!
In my opinion, LeoFi a hugely underrated part of the LeoFinance ecosystem.
It's definitely worth checking out if you have LEO Power, but don't have the time to invest into playing the social game required to maximise your curation rewards.
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It might be a good idea if you like doing curation and maximizing the number of LEO tokens you will receive.
Yep.
The ideal scenario for both parties would be an active, manual curator leases from a large investor who doesn't have the time.
Everybody wins!
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Oh wow, I had completely forgotten about LeoFi! So much going on in the LeoVerse
It would be cool if the Leo team included a RC marketplace on LeoFi
!PIZZA
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Oh an RC marketplace is an interesting idea.
Definitely something that can be added in the future if we start to see demand.
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As someone who sucks at curation I can't recommend LeoFi enough. There are some days when I can't find even 15 minutes for my daily Hive/Leo routine so lending tokens to someone who is as consistent as the fine gentleman is a no-brainer.
It's also not only about the APY. Those that receive upvotes from the person that rented the tokens get higher rewards as well so it's kind of a win-win IMO.
As for the extra questions, here are my thoughts on a few.
Same reasons you stated. It's not on the map properly but hopefully the new UI changes will sort things out.
Leo lending. Taking out a loan using your staked LEO would break everyone's brain and send LEO to the Moon and beyond.
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Cheers for sharing your experience with using LeoFi :)
So much opportunity to build out the 'lending' section!
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It says coming soon though...
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I actually encountered this feature the first time I am exploring the LeoFinance frontend. I don't know how it works and I just keep tried on clicking on the buttons in there. Good thing I did not break my account or something. 😁
Anyways, from what I understand, this is similar to delegating your LEO Power to those leo curator programs (e.g. leo-curator, india-leo) but on an individual user level?
!1UP
LeoFi just facilitates one user paying another for a LEO Power delegation.
The lender receives a fixed, predictable and secure payment for sending the delegation.
The borrower receives the delegation for the exact amount of time they pay for.
The platform keeps the process secure and transparent.
Posted Using LeoFinance Beta
If you're delegating to one of those curators, you're trusting that they will actually pay you what they 'promise'.
LeoFi removes that risk.
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Ohh.. I am now seeing the difference.
Does this means that the promised return will be escrowed by the renter? I really didn't have the chance to explore it. The mechanics is getting me interested.
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Great service for people who want to make use of their Leo Power while on vacation.
Also great for people who want to roar like a lion with their upvotes.
Never tried it personally but I might give it a shot when I am not around.
Posted Using LeoFinance Beta
This is a smart way of looking at it.
You can definitely make a higher return on your LEO Power by actively curating.
So if you're around, keep it on your account and use it yourself.
But there are sometimes that you're not around like holidays or whatever.
That is when taking advantage of a leasing platform like LeoFi is the smart choice.
Posted Using LeoFinance Beta
When compared to what pLEO-WMATIC Pool's 1.32% these are good returns for those who want to HODL LEO. The other option is powering up on your own and following a voting trail with quality curation.
!PIZZA
Posted Using LeoFinance Beta
There's just no incentive to be in the pLEO pool on PolyCub.
I think the idea is that the price of POLYCUB is meant to go up due to POL buybacks, so the low yields could be made up over the long term?
However, as there is so much uncertainty, I'd much rather be earning 30% in CUB and just immediately converting those rewards back into LEO.
But bringing it back to why you'd choose to lease your LEO using leofi, its because it takes all uncertainty out of your returns.
No impermanent loss risk, just security and certainty of returns.
Yeah, using hive.vote in order to follow a trail is another option.
But it still needs some level of management.
Therefore the security and certainty of your returns on leofi would be more desirable for some, even if the returns are slightly less than what you could get elsewhere.
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You are the man, mind you last time I looked a couple of weeks ago there were none...
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I'm not the only one requesting a crypto lease on leofi right now!
Go have another look :D
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You sparked a craze!
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