Buying roughly 20k LEO as we approach the wLEO launch!

in LeoFinancelast month (edited)

Only a day away from the wLEO launch and I am only a few coins away from my 20k target

In case you haven't heard, wLEO is launching tomorrow, September 17th on uniswap.

More on that can be seen here:

https://hive.blog/hive-167922/@leofinance/wrapped-leo-hard-launch-date-and-new-wleo-explore-page

This announcement has gotten quite a bit of fanfare, specifically because the founders of LEO are offering a bounty to those that chose to provide liquidity.

That bounty being 300k LEO for liquidity providers.

Which is no small number considering there is only a little over 5 millions currently in circulation.

For this reason I decided it makes financial sense to get involved as a liquidity provider and decided I wanted at least 20k coins.

So, I went out and started buying them yesterday:

(Source: https://hive-engine.com/?p=balances&a=jrcornel)

That picture isn't as clear as I would have liked it to be, but as of now I have a little over 18k total with about 17.5k liquid.

I will be looking to add to that total today for those of you that would like to lighten their LEO holdings into the wLEO launch. :)

If you are going to participate as a liquidity provider, keep in mind that you will need an equal value of ETH (in USD terms) to match your value in LEO.

For example if you have $2k in LEO that you are going to use to provide liquidity, you will need a corresponding $2k in ETH as well.

Tomorrow will be very interesting in terms of the price of LEO...

Will you be participating?

Stay informed my friends.

-Doc

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You made the right choice. Enjoyed our discussion in the comment section last time

I did as well. Just wish I had picked up more, sooner!

It's a good thing to dig deeper from time to time ;)

Yep, I assumed it had a large supply like hive/steem, but when I saw 5 million coins, that was the game changer for me. It's valued around $500k currently and it wouldn't take much buying to get that up around $5-$10 million market cap.

One thing is no doubt true: Tomorrow will be an interesting day.

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What's your prediction in terms of the price?

I expected large spikes and dips....but would not guess on the direction of trend.
A true Terra incognita

Ha yes there you go. I suspect we will see the price go up, but that will only be if we get the word out there about it to enough of these yield farmers...

oh well
I guess the price will be very very very interesting to watch

Spike or drop?

should spike ideally, as a lot of liquidity from ethereum comes over to Leo but you never know.

Wow!

See how it goes these next few days...

I also bought 20k recently...you know, just in case :-)

Ah so you were one of those buyers these past few weeks as well. I was wondering who was picking up that LEO! :) It will be interesting to see where things go these next few days. Either way though with the current market cap down around $500k, it's almost too cheap not to play.

good idea guys to get wleo, congrats friends.

Thank you. We will see how it goes.