Spinvest-leo update - SPEW update. October 1.

in LeoFinance6 months ago

Welcome to this weeks @spinvest-leo update.

I've been busy this week, with personal content and stuff, and haven't produced any extra content for the week. No matter, the results are still up thanks once again to another killer week for LEO.

wending 1 oct.png

As you can see, we have smashed through 21,000 HIVE valuation for this account, and earnings equivalent of 269.996 HIVE for the week. Probably don't need to say much more than that about the general weekly performance.


SPEW update

SPEW  1 oct.png

Overall the pool is showing a profit of $1826.64 shared among participants.

I'll make a more detailed update on the weekend, and share some learnings about Impermanent Loss, as well as look at what the Bounty payout might look like. Check back over the weekend for more info.

Noted also is an extra 252 LEO deposited by @oakshieldholding. This (along with any other deposits) will be added to the pool, with weightings re-balanced immediately after the first bounty payout is completed.

Tagging everyone involved so you know where we are at: @spinvest, @jk6276, @tandara, @forexbrokr, @tbnfl4sun, @pouchon, @eirik, @shanibeer, @oakshieldholding, @jocieprosza, @josediccus, @roger5120, @stortebeker, @mistakili, @steemitromney, @underground, @dera123, @deflacion, @roleerob, @flemingfarm.

Please let me know if you would prefer not to be tagged.


Sorry for the rushed report, Hit me up in the comments if you would like more detail on anything. Tagging @jk6276 will help me see your comment sooner.

Cheers,

JK
for @spinvest-leo & the SPEW pool.

Posted Using LeoFinance Beta

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I would like to contribute Leo.
I will send 500 Leo to start. I would like to know if I can contribute 500 additional Leo in a few days, but want to know if there’s a wait to start earning? Or does my sent Leo start earning in a pro-rated fashion once I send it?

Thanks

@spinvest-eth

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Cheers for the update. Love your work as always!

Posted Using LeoFinance Beta

Thanks mate.

Posted Using LeoFinance Beta

I have a couple questions, but if you had a link that explains more about how the wrapped tokens earn money, and the interplay between the ETH needed for liquidity and those earnings, I might not have any questions. I thought ETH was needed for GAS and the "wrapper" but it seems like an awful lot of ETH is needed, or we have an excess...

Posted Using LeoFinance Beta

The main income for pooling will be from the bounty being payed by @leofinance for liquidity providers. The wrapped token itself (WLEO) doesn't earn anything unless it is in the pool. when Wrapping LEO, the "gas fee" is automatically taken out of the LEO being wrapped. Once it is on the Ethereum notwork, then moving it or adding it to the pool requires some ETH for gas. We have a bit extra ETH over what we need at the moment, but I'll reduce this when I rebalance the pool after the first bounty payout.

Does that help? Sorry it took a while to get back, haven't been on this account much this week.

Posted Using LeoFinance Beta

Looks very good!

That is most promising!

Posted Using LeoFinance Beta

Greetings, I have a doubt, I am really interested in participating in the Pool, but I would like to know how the distribution of the profits would be? Knowing that of course, you are in charge of placing the ETH

Posted Using LeoFinance Beta

Basically everyone has a share of the pool, depending on how much is contributed. The assets in the pool are owned proportionally to that share. When profits come in (from the LEO bounty) the following happens:

  • 20% is deducted from the payout as the fee - sent to @spinvest-leo account.
  • The remaining funds are then split proportionally to each participant in the pool.

I took the starting values, and each fortnight will re-balance the pool ownership by each individual depending on new funds added, or any withdrawals. Trying to keep the number of transactions to a minimum, to reduce GAS. Full update coming soon, and then all will be clearer once the first bounty payout is received.

Sorry for the delay in answering.

Posted Using LeoFinance Beta

Yo, I want to get involved with the pool. In what account do I have to make a LEO deposit to do so? Do I need to write something in the memo?

Posted Using LeoFinance Beta

To join, all you need to do is send a minimum of 500 LEO to @spinvest-eth. no memo is needed, I will match the deposit to your account and your investment will cycle in at the fortnightly re-balance. I'm only processing once a fortnight as this will occur just after the bounty payouts to make the maths easier for me (no need to pro-rata it) and to minimis GAS.

Sorry for the delayed response.

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You distributed more than 33000 upvotes. Your next target is to reach 34000 upvotes.

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Do not miss the last post from @hivebuzz:

Feedback from the October 1st Hive Power Up Day
Hive Power Up Day - Introducing the Power Up Helper!