Leo Finance . Legit or Gimmick ?
Hey Hivers, today I will share my thoughts on leo and Leo finance.
When I resumed blogging on hive I made this post where I explained how I am going all in on leo and gave my reasons for it as well.
It started as an innocent 1000 Hive delegation for like 2.5+ Leo everyday as delegation reward when I made my commitment. I must have had around 50-100 leo when I made the post above.
Currently, see my collection of LP.
Yes that's right I went from 0 to 3700+ LP in less than a month and half .When I said I am going all in I meant it.
Just to clear I invested money from outside of hive as well. So what you see is a combination of my trading profits, Hive + Leo rewards, some money from my Steem power down.
I targeted to accumulate around 2000 LP by May end but I have exceeded my target by a lot so quite happy about that.
What about the future ?
Of course, when I talk investments I cannot rule out the return in fiat terms which is horrible for me currently. I mean when I made most of my Leo purchases when it was trading at $0.15 - $0.20 and currently it is like $0.10 so decline of close to 50% in a month. But I realized that the price action of Leo very closely follows Hive. When hive is up 1% so is Leo. Hive was trading at $1.20 and currently it is $0.50 value so it is similar can't blame Leo for this decline since all crypto market has taken a hit.
Returns in terms of fiat aren't good but it wasn't good for any crypto investors past month so I am hanging in there as of now.
Returns for the tokens, I have decided instead of delegating and earning passive rewards I will keep my LP and earn from curation rewards. The power of rewarding someone for their quality content even if it is 0.27 Leo feels so good. I calculated 12%+ token returns in curation alone.
Leo also has a community which is growing in terms of engagement and brining value via LeoAds.
Leo is not only growing but it is monetizing it's engagement from which more Leo will be bought and distributed among Leo token holders.
Conclusion.
To be honest, until I see any major flaw or laziness from Leo team in promoting or expanding the community I'll be bullish on the whole project. This is because these crypto projects solely depend on people interaction and engagement to progress which so far has been decent for Leo.
What do you think of the future of leo? Let me know in the comments ..
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Take care. Peace out.
