WLEO LPs Earned $20k From Geyser #3 | Announcing Two Major DeFi Products for Q1

in LeoFinance2 months ago (edited)

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Well this is an oddly timed post. So many developments and not enough time, so we're swinging where we can and working strange hours. I know everyone has been anxiously awaiting the Geyser #3 eruption along with the new LeoFi app development updates.

DeFi is here to stay and launching Wrapped LEO (wLEO) along with the Geyser distribution system for LP incentives has been a major source of growth for the LeoFinance economy.

The Geyser incentivizes deep liquidity in the wLEO-ETH pair on Uniswap. This depth of liquidity allows our project to rapidly expand and welcome new investors who want to purchase large quantities of LEO (wLEO).

Along with that, it also pairs the LEO token to ETH price action. Thanks to our deep liquidity pool on Uniswap, wLEO (and thus, LEO) have enjoyed the nice altcoin rally seen in the major cryptocurrencies alongside Bitcoin in USD terms.

LeoFi has 3 major products launching in the very near future. Two of them are likely to launch within the next week and we'll discuss a few of the details (including an announcement of an announcement of a pending snapshot) at the end of this post.

As we continue to expand the scope and scale of LeoFinance, our community and the applications we build, DeFi is going to become a major arena for us to play in. LeoFinance is a community for crypto hodlers and finance enthusiasts. We're the perfect community to build, launch and innovate on top of existing DeFi architecture.

In the next few days, you're going to see some massive changes to the LEO and wLEO economy.

Today's Geyser also marks a few key changes. I'll very briefly dive into some details of what we've updated below.

Geyser Curve Dampened

Last month's Geyser brought forward an issue with the Geyser APY curve that we didn't anticipate. A few Liquidity Providers (LPs) who got into the pool late realized that their APY was just a few %.

The intention of the Geyser is to incentivize "aged liquidity" - a.k.a. liquidity that entered the pool early and didn't leave - but it is not the goal of the Geyser to completely disincentivize anyone who wants to join the LP later on.

Some of our new LPs found that the last Geyser payout was extremely low. Either because they entered the pool late or because they added liquidity and didn't really see much of an increase to their LP APY.

We spent some time investigating these cases and decided to dampen the harshness of the Geyser curve. This carries essentially an unnoticeable impact on the existing LPs, but makes the world's difference for new LPs who have recently gotten into the pool or added liquidity to an existing position.

Again, we want to make sure that the most heavily rewarded liquidity providers are those who pool early, pool often and leave their liquidity in for an extended period of time. The purpose of the wLEO-ETH pool (and the WLEO Geyser) is to have a reliably deep liquidity pool and consistent APY.

As you'll find out in one of the new LeoFi products launching next week, depth of liquidity and stability of the WLEO pool is going to be an increasingly important narrative against the backdrop of our new app.

Geyser Distributions Moved

This Geyser distribution also includes 40 days worth of payouts instead of 30. We decided to extend this month's geyser along with next month's geyser so that we can move the payouts to the 1st of every month.

@themarkymark suggested that the 1st of each month would bring predictability to the payouts since the Geyser is normally set to erupt around the 16th of each month but typically fluctuates due to the different calendar days and mostly due to our ability to push the button, get the Geyser out and launch a post like this.

Having the Geyser on the first of each month will bring a nice level of predictability both for us and for the LPs. Liquidity rewards from the Geyser will now be sent on the 1st of each month starting with the next distribution (April 1st).

HiveLink System Updated

HiveLink had a few issues and didn't properly detect one liquidity provider who entered the pool last month. This caused them to recieve their Geyser payout on the Ethereum blockchain as wLEO instead of on the Hive blockchain as LEO. We pushed a fix for this so that future LPs won't get missed if they HiveLink their account prior to adding liquidity to the wLEO-ETH pool on Uniswap.

$20k in Geyser Rewards!

This month is a bit longer than most, but it does mark a fun milestone: $20,000 USD worth of Geyser LP incentives were just sent to WLEO Liquidity Providers.

In the last distribution, WLEO was $0.50 and today's WLEO price is about $0.60 (off of recent highs we saw at $0.75-$0.80).

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Note: Geyser APY is based on the current LP position value as opposed to the value actually added to the pool. Most DeFi pools use the original added value to determine APY which makes it look a lot higher.

For many of these LPs, if you take their APY / their added value instead of current value, the Geyser APY is more like 60% - 70% APY which is fun to think about.

LeoFi in Q1 2021

On to some of the fun announcements of announcements. I've already seen a few Leo detectives snooping around and putting together little breadcrumbs of what we're about to launch.

LeoFi is about to launch 2 major products on another blockchain. These developments will effectively make LeoFinance a tri-chain project (operating applications on 3 blockchains simultaneously).

Many projects boast about future interoperability but LeoFinance has interoperability today. Allowing you to blog and earn rewards on one chain (Hive) and seamlessly wrap those rewards onto another chain (ETH) and participate in DeFi (Uniswap Liquidity Pool).

In less than a week, two more products will enter the LeoFi branch of LeoFinance and introduce a number of interesting dynamics to the LEO (wLEO) token economy.

I think one of these projects is highly anticipated and everyone can guess what it is but the other is an entirely new beast. We're excited to see how the community reacts.

Snapshot Announcement

One of the new DeFi products we're launching includes a new token to facilitate a particular set of operations.

Most other DeFi projects launch presales to get initial distribution and fund their project.. but we are not most other DeFi projects.

LeoFinance is a project with a two year track record and one of the most thriving communities in all of crypto. Instead of a presale, we're doing an airdrop to incentivize early bird community pariticpation on the new DeFi app we're launching.

This airdrop is also no ordinary airdrop. We're calling it a "hybrid claimdrop" for a variety of reasons. A snapshot will be taken in about 2-3 days. 24 hours prior to the snapshot, we'll release a post with all of the details on how the claimdrop works.

It will be based on LEO staked (LEO POWER) and WLEO pooled on Uniswap and if/when a particular set of actions are taken on the new DeFi app, the airdrop can be claimed - and yes, it's also a cross-blockchain airdrop where a token is delivered on Hive but auto-wrapped onto another blockchain.

Details will be announced s _ _ _ ™️

🦁

 

 

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Tremendous gains for all the participants to the Liquidity Pool and I am waiting for the next integration on different blockchain (hope for BSC) to get me also onboard and where there are less painful fees. The hybrid airdrop is one long announced so it will be great seeing some practical steps taken for that. Amazing things coming to the space!!!

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These guys feeling silly bout now :)
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Posted Using LeoFinance Beta

Not really, that's largely the result of Hive going up 60%.

Posted Using LeoFinance Beta

I think LEO was so strong in value due to integration with Ethereum, and mostly the LEO/ETH liquidity pool. When Ether went up, LEO followed making LEO so much stronger compared to HIVE. Now we see an interest in HIVE, by investors and (probably mostly) traders pushing HIVE up. Leo is traded at DEX and HIVE at CEX. Two different groups of traders I suspect, both types concentration on either DEX or CEX. While Leo was benefiting from ETH, now it seems HIVE is benefiting from being listed at CEX. Also interesting to see Steem and HIVE are kinda in sync when pushed up at CEX's. All in all, a 1-2-1 LEO/HIVE is possible any time soon unless LEO gets more traction with the DEX investors and traders.

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From day one I had most of my LEO liquid with the initial aim to provide liquidity the moment the pool was created. Then I saw a large amount of liquidity provided by many of the LEO token holders and decided not to provide liquidity (mostly because I have no clue how the whole LP works) but to keep it liquid to trade a little with it against HIVE trying to increase my LEO stack. But I never did which is a bit of a shame, since, at some point in time we could get 8 HIVE for 1 LEO, while now its more like 2 HIVE for one LEO. I could've quadrupled my LEO stack in just a few months. I suppose I'm more like an invester than a trader :) Decided to powerup all my LEO so I can give out little larger votes benefiting the LEO community :)

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I think, your decision is going to be paid out.

Posted Using LeoFinance Beta

I do hope so 😉🎶

Such is the way of all markets. The prices will likely be irrational for a long long time until it becomes impossible to ignore it. HIVE is such a great ecosystem with bare bones DeFi now, we should be having at least 20% of the marketcap of Ethereum in a worst case IMO. But people just go after the hype and brand names. It is all good times for people like us to acquire more. I'm almost at 2000 LEO.

Posted Using LeoFinance Beta

I am confused: Do we need liquid LEO (as announced on Twitter) or staked LEO? Or both?

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I think that they will release more than 1 project during the next week.... airdrop (liquid + staked will be counted), and maybe some additional pool (if you want to be a liquidity provider, you will need liquid LEO)...
Just my speculations :)

Posted Using LeoFinance Beta

It's not just you, I kinda wonder the same thing. I'm holding some liquid to see what it's needed for.

Posted Using LeoFinance Beta

There will be plenty of time between announcements for you to position yourself. I just started getting liquid and I'm sure it will be moved into something that will collect the airdrop.

Posted Using LeoFinance Beta

I feel better now, lol!

Posted Using LeoFinance Beta

Glad I could help lol. Should be a fun day tomorrow. All the confusion will be cleared up and new confusion will be created.

Posted Using LeoFinance Beta

Also not sure right now and hopefully it becomes clearer soon.

Posted Using LeoFinance Beta

"It will be based on LEO staked (LEO POWER) and WLEO pooled on Uniswap..."

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I think, staked LEO is for the airdrop and what liquid LEO would be good for is yet to come.

Posted Using LeoFinance Beta

Yup, I was at the end of the post and wondering the same thing. Lol!

Posted Using LeoFinance Beta

Staked Leo for Claim drop of new token, Liquid Leo for possible new product for which details aren't available yet. Short answer, you'll potentially want both!

Posted Using LeoFinance Beta

The best day of the month is the day of wLEO Geyser payments... :)

Thanks for the incentives and thanks for all your hard work!

Posted Using LeoFinance Beta

I'll be staking my Leo I think! DeFi is still way over my head despite reading about it and watching videos! Can't wrap my head around it lol

Posted Using LeoFinance Beta

Sometimes the best learning school is to just try it. I put in a little liquidity into KOIN/ETH pool at Uniswap a few days after the creation of that pool. Just a few 10s of dollars worth of ETH, limiting the risks to just losing a few cups of coffee in some outdoor cafe (that are closed anyway at the moment). Now, about 4 or 5 months down the line, the pool stats tell me I made about 24% gain. This gain is distributed across KOIN and ETH. I suppose this gain is quite high because the amount of liquidity in the KOIN/ETH pool is low. At the same time, also the swap values are not that high, as the number of swaps is pretty low as well. But, interestingly, within a little less than 5 months, my gain is almost a quarter. For LEO/ETH the projected gain is lower as can be read from the post. Regarding KOIN/ETH, am not sure what will happen. This pool is a temporary one I suppose since, after the KOIN mining phase, the ETH based KOIN token will be swapped to a native KOIN chain token as far as I know. Wondering what will happen with the last users taking out their liquidity from the pool. For the LEO/ETH no end date is determined, so this will not apply to providing liquidity to that pool.

Posted Using LeoFinance Beta

Yeah I know that's the best way to learn. I've just jumped in to things before and that just vanished so reluctant to do it for something else although it would probably be the last bastion of my crypto journey. Almost like the final trophy to complete crypto - mastering DeFi 😂 well, that and then being able to live off crypto on passive but that's probably a long way off!

I'm happy to keep to the boring way of posting, staking and curation and maybe when I'm feeling adventurous enough or have some capital free, will give it a go!

I think KOIN will give a 1:1 airdrop on the main chain once mining phase is over. Has it been 6 months yet?

Posted Using LeoFinance Beta

Man... this is how I feel whenever I see your posts lately:

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Amazing times, and hard to believe it's only been two years since you started!

Posted Using LeoFinance Beta

Alright, you've convinced me to FINALLY dip my toes into DeFi.

If I get involved in one of the Binance LEO pools, what is the base coin I'm going to need to buy in order to do so?

Just so I'm ready.

Posted Using LeoFinance Beta

Probably BNB.

Posted Using LeoFinance Beta

Finally we got some info, after so much guessing. Interesting things are coming out way. Now I need to decide on my strategy.

Posted Using LeoFinance Beta

Nice.. 3 chain interoperability is really a thing to tell the world. I can't imagine that so much is progressed in less than a year.

Posted Using LeoFinance Beta

Sounds interesting! I think I'll need to crash course DeFi here for this one!
Keep up the awesome work guys and gals and thank you for all you do!

Posted Using LeoFinance Beta

You and me both! No matter how many times I read about DeFi, liquidity pools, providers and whatnot, it just doesn't sink in haha!

Posted Using LeoFinance Beta

Same for me. I'm even more confused now about whether we need to stake or keep LEO liquid. I don't have any WLEO so that's not a consideration.

and if/when a particular set of actions are taken on the new DeFi app, the airdrop can be claimed

does this mean we won't get the airdrop if we don't take these actions?

I was getting pissed off with it all yesterday. I'm going to be really, really annoyed if I don't get the airdrop after all this crap. Grrrrrr!

Posted Using LeoFinance Beta

Hahaha oh boy, stay clear of Gillian if she doesn't get her airdrop! Think there will be fireworks 🎆

I'm going to keep my eyes open for any instructions about the airdrop and make sure I follow them to the letter after all this haha

Posted Using LeoFinance Beta

Stay clear of Gillian right now. Full stop!

You should have heard me moaning and groaning out for my exercise this afternoon looking at the packed beaches and hoards of roller skaters blocking the way with their little cones. Not to mention the police card driving along the prom doing bugger all. Why?

Lockdown's bad enough but then I stayed up until 2 a.m. this morning trying to get one measly point on Splinterlands before season end so I could get into Diamond I. Big fat fail and one very tired and even more grouchy Gillian. 😂

Is it wine o'clock yet?

!ENGAGE 30

Posted Using LeoFinance Beta

Oh my goodness, this sounds like a horrible way to spend a Sunny weekend! It's Sunday evening, unscrew that wine bottle and put your feet up!

Never done this before so hope it works:

!WINE

Posted Using LeoFinance Beta


Cheers @nickyhavey, Thank You For Inviting @gillianpearce To A Glass Of WINE.
At The Moment You Don't Have Enough WINE Staked To Order A Glass Of WINE From @wine.bot.
Please Refill Your Barrels By Directly Buying WINE From Marketplace & Make Sure You Have Atleast 25.00 WINE In Staked Wallet.

wine-greeting
Total Purchase : 21538.785 WINE & Last Price : 0.290 HIVE
HURRY UP & GET YOUR SPOT IN WINE INITIAL TOKEN OFFERING -ITO-


WINE Current Market Price : 0.295 HIVE

this sounds like a horrible way to spend a Sunny weekend!

Only myself to blame. Wasn't that bad really. 😁

Wine was good. Not your tip (that didn't work 😂) but the real deal.

Posted Using LeoFinance Beta

Lol, yeah seems my "wine bottle" is empty so couldn't tip you! Hope your real bottle was more fruitful!

Posted Using LeoFinance Beta

There has already been too much ENGAGE today.

I'll signup for one as well!

Posted Using LeoFinance Beta

LeoFi has 3 major products launching in the very near future. Two of them are likely to launch within the next week

Super excited !

Posted Using LeoFinance Beta

Trying to get into the BSC LP when it does launch, so I am excited about that. Also projectblank. I am done speculation. I am just waiting for things to materialize

Posted Using LeoFinance Beta

i can't wait! These following weeks will be awesome!

Posted Using LeoFinance Beta

Always looking ahead. You guys just keep on crushing it. Thanks for the insight on what you are working on.

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I am quite convinced that a good director could make a great movie or TV series 😁😁

Each published post always leaves you wanting to have more information than what has been offered so far

Posted Using LeoFinance Beta

Such great news / updates, @leofinance!

Posted Using LeoFinance Beta

I need to get involved after seeing these figures but have no clue and how much does one need in order to make it worthwhile due to gas fees. I realise there are new pools coming on other exchanges but I need to join those as well so loads to do and still have no clue. I think this is why I just keep staking as that is all I know.
just wish we could buy wleo on Leodex and get in that way as that would be far easier.

Posted Using LeoFinance Beta

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Check out the last post from @hivebuzz:

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LeoFinance is a community for crypto hodlers and finance enthusiasts.

Its amazing to know that Leofinance has come a long way in creating the favourite subject that will be seamlessly adoptable, its been amazing thus far and with everything exciting we can wait no more. Cheers

Posted Using LeoFinance Beta

What would be really great is to do the snapshot after opening the new LPs and of course those LPs counting for the snapshot :)

Posted Using LeoFinance Beta

You want to have the cake and eat it too? 😄

Posted Using LeoFinance Beta

I can't resist a chocolate cake :)

Posted Using LeoFinance Beta

After the airdrop/claimdrop we'll have reason to celebrate, so I'm going to make you my famous chocolate walnut cake 🎂😊

Posted Using LeoFinance Beta

Ahhhh you got me on my weak spot ! (ok I have several chocolate weak spots)
Yes I'm sure we will be in celebration mood soon enough :)

Posted Using LeoFinance Beta

hahaha...

Posted Using LeoFinance Beta

if/when a particular set of actions are taken on the new DeFi app

Sounds to me like those "new LPs" might be part of the requirement to "claim" the airdrop.

Posted Using LeoFinance Beta

Yes I felt like it also but the IF bothered me :)

Posted Using LeoFinance Beta

Another mystery to solve, what are the actions we will need to take?

Posted Using LeoFinance Beta

Well usually those things happen while I’m sleeping. I’m sure I will wake up someday with some Lions already in the pool and able to explain haha

Posted Using LeoFinance Beta

And the plot thickens... I hope we'll be able to maneuver around in the market enough to be able to get the positions we want without causing wild swings in the prices.

Posted Using LeoFinance Beta

So much price action and stuff
are going on with #leofinance.
March will sound great again.

!BEER

Posted Using LeoFinance Beta


Hey @leofinance, here is a little bit of BEER from @pouchon for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

REALLY $20k in Geyser Rewards! Wow I must focus on LeoFinance.

Posted Using LeoFinance Beta

I read these announcements and all I can think about is the genius of mind that Leo's team has.

Great news!

Posted Using LeoFinance Beta

Never gotten into Defi, looks like this a bout to change ;-)

Posted Using LeoFinance Beta

Well done guys, is there a tutorial how to join the pool? I'd be interested as I've dumped about $US1000 and will likely be dumping another round in coming weeks.

Posted Using LeoFinance Beta

s _ _ _

sTHOR???????? 🙃

As we continue to expand the scope and scale of LeoFinance, our community and the applications we build, DeFi is going to become a major arena for us to play in.

De-Fi is one of the most essential features for projects in today's crypto world. Leo is non-stop building to reach everyone in this ecosystem. Perfect!
You are doing great guys. Many thanks...

Posted Using LeoFinance Beta

I can't wait. Luckily I have some few Leos staked.

Posted Using LeoFinance Beta

Excited about all the developments, and to see if I was right about BSC defi, as postulated in a recent sleuthing post ;)

Snap shot incoming... time to buy and stake more Leo :)

P.s. I have a question @leofinance

It will be based on LEO staked (LEO POWER) and WLEO pooled on Uniswap and if/when a particular set of actions are taken on the new DeFi app, the airdrop can be claimed

In regards to this announcment... are you saying that the airdrop will only be to people who have both WrappedLeo and staked Leo? Or, for example, if you only have staked (powered up) Leo, will you still be eligible?

Cheers

Posted Using LeoFinance Beta

I think you just need to be in one (LEO POWER or WLEO pooled)

Posted Using LeoFinance Beta

Ahhh, cool thanks.

I'm fully powered up with my 520 LP so should see some benefit from the airdrop then 🙂

Reading a bunch of great project updates. Hear Hear regarding the speed Leo is developing itself.

Regarding Geyser. Recently I discovered the GYSR DeFi project (https://www.gysr.io/about). Is their technology in any way used by Leo? Or is this (just) another project using the Geyser models?

Posted Using LeoFinance Beta

I hope the claim thingy is not too complicated :) Also would be nice to know if the ration is 1:1

Posted Using LeoFinance Beta

You know that $LEO investors are too cool for school!

Michael Jackson

Posted Using LeoFinance Beta

This is awesome! Keep it up!

Posted Using LeoFinance Beta

Interesting times ahead. So, that's why you said we should be talking about airdrops instead of airdrop. At the time I thought you meant that it'll be an airdrop for LEO stakers and one for wLEO LP providers. Speculations, speculations...

Posted Using LeoFinance Beta

the airdrop can be claimed - and yes, it's also a cross-blockchain airdrop where a token is delivered on Hive but auto-wrapped onto another blockchain.

In some alternate reality, I understand what that means.

Posted Using LeoFinance Beta

Maybe I’ll need to grab some BNB 🤔

Posted Using LeoFinance Beta

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Congratulations guys for the $ 20k! 👏🏼👏🏼👏🏼👏🏼👏🏼

So do you mean my anxiety will be quenched next week? Great to know that hahaha ... Keep up the great work on the projects!

I'm getting ready to finally enter the world of DeFi and of course, it has to be for LeoFinance.

March will be an unforgettable month for all lions. Success always!

Posted Using LeoFinance Beta

I'm so hyped! What a time to be alive really 😊

Posted using Dapplr

Sounds like a very dynamic space. Looking forward to learning more about this space and upcoming opportunities.

Posted Using LeoFinance Beta