We've all heard the complaints. I'm sure we've even uttered some of them ourselves.
- "I want to buy it before it breaks out."
- "I wish I could have bought it below $1.00."
- "I want to get in before it goes mainstream."
- "I want to own it before the influencers on YouTube talk about it."
That's the dream of crypto, right? Put a small amount of money in with the potential of life-changing returns. If it doesn't work, it's not the end of the world. But if it does...jackpot!
Well, what if I told you there's an opportunity right now to do just that? Something that checks all the boxes. Below a dollar? Check. Hasn't broken out yet? Check. Mainstream hasn't stumbled onto it yet? Check. Influencers haven't covered it yet? Check again. And a final box to check: potential? Immense.
This cryptocurrency is called LeoFinance. It was created and exists on the Hive blockchain. For those of you who don't know what Hive is, in a nutshell, it is social media on the blockchain where content creators and curators of that content earn tokens (get paid) for adding value to the site. This happens through posting material and having it be upvoted by the community. The upvoters also share in the rewards so even if you don't post, you can still earn tokens by commenting on others' content.
It also happens to have it's own exchange where users are able to trade in and out of tokens for very small fees, in many cases completely free. In other words, a developers dream. And that is where LeoFinance comes in.
LeoFinance was developed on top of the Hive blockchain as a community, a tribe. Even though it's only been in existence for a few short months, the amount of development has been amazing. The community has been extremely active in engaging others and working towards growing the site organically, and developers have now stepped in to add extremely exciting projects within the LeoFinance framework to grow it even further.
In the last couple months, they introduced wLeo, which allows the Leo token to be utilized on the Ethereum blockchain. There is also a liquidity pool available to fund as well. While still very early in the game, the access it grants to the world of defi holds great potential.
What's coming
In the month of March, the devs are planning on launching a new app which will also allow for the creation of bLeo. This will give Leo holders access to the Binance Smart Chain. As many people know, BSC is one of the hottest places to transact in the market right now due to the high "gas" fees on Ethereum. This opens up another world of opportunities for the platform as a whole.
In addition to this launch, they will also be launching the LeoFi dashboard. This dashboard will feature a new Leasing app (bringing DeFi to Hive) and will also serve as a platform to connect all of Leo's other DeFi platforms in the future.
The goal of this particular app is to bring together all the aspects of LeoFi under one UI, allowing you to track your LP rewards, lease and collateralize your LEO hodlings, and participate in DeFi on three separate blockchains (with more to come):
Hive DeFi
Ethereum DeFi
Binance Smart Chain DeFi
As if this weren't enough, the devs are also in the process of putting the finishing touches on a yet-to-be-named project simply being called #ProjectBlank for now. This app will bring micro-blogging to LeoFinance and allow users to earn tokens for their content as opposed to having current social media sites, like Twitter, use your content and your information to be sold so they get paid. It will also feature an easy-to-use onboarding ramp for new users to become involved in Hive and its stable of communities. In other words, it will bring lots of attention to LeoFinance and the Hive ecosystem as a whole.
So, now the real question:
What's it all worth?
This is the fun part. I have absolutely no idea! To be honest, the numbers can be a little mind-boggling. For example, the blockchain underneath Leo can run transactions in three seconds for no fees. It's extremely fast, extremely scalable, and extremely cheap. If you compare it to other blockchains out there with market caps in the billions, what is this one worth?
Then we bring in defi. Everyone knows that defi is a hot area in crypto right now and it looks like it will remain that way at least for the foreseeable future. In fact, defi is what many traditional banks are looking at getting involved in. They see the writing on the wall. Permissionless, fair, open, and efficient, defi provides the real world opportunities traditional banks no longer can. Users are able to lend, borrow, stake, and trade without any third parties getting their hands in the pie. This allows investors yields and returns for their capital that are actually commensurate to the risk they are taking. As opposed to buying bonds or leaving money in a moneymarket which will only de-value over time as the currency continues to have it's supply inflated. So, looking at some of the other defi cryptos out there again, with billion dollar plus market caps, what is LeoFinance worth?
Let's throw in it's cross-chain interoperability; Hive, Ethereum, BSC, and others to follow. Hive is basically free to use, BSC is much cheaper than Ethereum, and Ethereum is still the engine that most everything runs on. So, you have all the options here. What is that worth?
Finally, ProjectBlank is aiming at taking on Twitter. Now by no means am I suggesting that it will in any way rival that giant, even in the next 10 years (although it's possible in that timeframe), but what I will say is that Twitter is banning people. Twitter is picking sides arbitrarily to support whatever narrative they want to support. They are engaging in censorship. I believe that will come back to haunt them. There are already thousands of people out there looking for alternatives. ProjectBlank will be one of those alternatives. Uncensorable, decentralized, and you get paid for your own content. Twitter has a current market cap of $54 billion. What does that make LeoFinance worth?
In my mind, with only roughly 6.5M tokens in circulation and the vast majority of those staked, and a current market cap of less than $5M.....it's worth a hell of a lot more than the 70 cents its trading at today. Open a free account at leofinance.io and check it out for yourself.
As always, these are my opinions. I'm not a financial planner and I do own a stake in LeoFinance. Do your own research. Cryptocurrencies can and do go up and down in value and you could lose all of your money.
Thanks for reading!