Today we are proceeding in this wonderful journey in the hive ecosystem, we have reached the 7th part which corresponds to the second one regarding the discussion of the LeoFinance web 3 platform.
In the last installment I talked about the dApps that are present in the blogging platform in addition to the usual editor that allows us to draft our posts.
I also highlighted the Layer 0 concept that established this platform, which is the extreme importance that LeoFinance places on its , which is why it is called , since it is the origin of everything, the nerve center of all blockchain.
Without the community using the blockchain, the blockchain itself would not exist!
Brilliant reasoning!
Let’s go ahead now and get more specific, delve body and soul into this subsystem of Hive.
LEO, wLEO, bLEO, pLEO
Leofinance is a multi-chain platform, in fact the token is a LEO and was created natively on the Hive blockchain, however there are 3 other “alters” on three respective blockchains:
- wLEO wrapped on the Ethereum blockchain
- bLEO wrapped on the BINANCE blockchain (BSC)
- pLEO wrapped on the Polygon blockchain.
The token has the same common value because it is always the same, and it can be converted to one of the others via the LeoFinance.io wallet: in the Leo Apps menu, you have to choose the Wrapped Leo app and the main screen with the various Bridges offered by the app opens.
As you can see, the Leo ecosystem also provides a cross-chain for Hive tokens; in fact, the bridge allows them to be readable to both the Binance and Polygon blockchains.
Truly multifaceted!
Proof of Brain (PoB)
Having clarified the possibility of multi-chain that the project offers, let us proceed and enter the main and most fascinating part of the system.
Once we have clarified Layer 0, i.e., the community, we also need to define another very important function of the whole blogging ecosystem created on the Hive blockchain.
As you may have noticed, the acronym PoB is spelled in the same manner as PoW, or PoS….
Another mining method?
Could be, in fact it is the method by which article curation tokens are released. Proof of Brain refers to the work that goes into creating a post that is not plagiarism and totally personal. (Here is the link to the Blue Paper where PoB is defined).
With this principle, tokens are obtained from the community.
This is why the Proof of Brain token is considered Pure: the way you can get it is only through publishing a post and receiving a reward.
I will discuss this in more detail in a deidcate article.
Leo Tokens
Similar to what happens with Hive, Leo tokens that are staked, change their name and become dgli LPs= Leo Power.
As with Hive, the more tokens we have in staking, the greater our reputation; same thing happens with LeoFinance, the more tokens we have in staking, the greater our weight in curations and the greater our reward.
LPUD (Leo Power Up Day).
As in all things, the fun increases as you play, and in fact here is where the Leo ecosystem, to make the management of the Curation system more compelling, has introduced LPUD, the Leo Power Up Day.
This celebrates the action of staking Leo tokens to turn them into LPs (Leo Power) of course, as is the case with Hive with the PUD, this will involve the possibility of using proxy tokens.
The minimum threshold to qualify for LPUD is 200 tokens, following some verification by the system, the following amounts will be provided as proxy tokens:
- 3 users will receive, in delegation for 3 weeks, 20,000 tokens;
- 5 bonus users will receive an amount from 5,000 to 1,000 tokens, again in delegation, for the same 3 weeks.
Doing so increases one’s reputation (even if only for 3 weeks) for the curations we follow.
As is logical to understand, everything is aimed at conservative and lasting tokenomics, from this we understand that the project will last over time!
Liquidity Pools
As I wrote in the first article regarding ecosystem dApps, today we delve into the Liquidity Pools section with the pairs that are being used and their relative returns (APY)
Cubfinance?—?bLeo Pool (APY 86%)
The pair consists of the BEP-20 bLeo token and the BNB native coin, the yield of this liquidity pool is extremely high and reaches 86% APY; we owe this to an extremely optimized platform, CubeDeFi.
Uniswap wLeo Pool (31% APY).
In this case, the pair consists of the ERC-20 Leo token (wLeo) and the ETH coin. Through the Uniswap platform we can create the trading pair and be able to get the indicated rewards, which is 31%.
This very high return is due to Uniswap’s highly developed AMM.
Beeswap Leo Pool
Last pool in question is the one that relies on the original blockchain, that of hive.
Through the SWAP.HIVE platform, both Leo and HIVE tokens can be staked at the same time, thus yields close to 26% APY can be achieved.
A word of warning: the first 2 pairs on the DeFi, are subject to impermanent loss, which by its nature could result in total loss of value; therefore, before you get enthralled by extremely high returns, you need to evaluate because the risk also becomes proportional.
That is all for this article as well!
I would say that, as a platform, Leo Finance is very complete and solid!
See you in the next installment where I will begin the analysis of the various tokens in the ecosystem.
