After posting about the different Hive-Engine tokens and the different price rises, @forexbrokr asked me why the rise in $WEED. At that point I didn't know so I looked into it some more and did some digging.
Turns out the WeedCash network is planning a wrapped Weed (wWEED) market on Uniswap, similar to the wLEO market that was had recently. The announcement post: Launch Date for Wrapped WEED (wWEED) - #WeedFi = #DeFi Yield Farming with $WWEED and $ETH + WEED Bonuses for Liquidity Providers highlighted the proposed launch date as 14th October and 100k of $WEED would be provided as an incentive for liquidity providers.
The market didn't launch on the proposed date due to the #HIVE hardfork and some concerns about the wLEO hack. The team is learning from what happened with wLEO and are looking closely to learn from that issue.
So the price rise has been in response to wWEED and the anticipated climb in price with the addition of another market. $WEED can also be traded against $EOS on the NewDex.io exchange which is something I am sure the LeoFinance team will look at in the future.
Are you stacking $WEED? You can engage with the WeedCash community here: http://weedcash.network
Perhaps a wSPT or wPAL might be another step to improve prices in those markets as well?
Thanks for reading.
Posted Using LeoFinance Beta