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But What Really is LeoFinance? (LEO&HODL)

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FarmGirl
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3 min read

Sometime last year when I first joined the LeoFinance community, I kept reading about ProjectBlank that I was really curious what it was. The rumor made me guessing that it might be another application in the LeoFinance umbrella and that the team will be bringing out a token intended for it.

It was until earlier this year when Khal finally unveiled the secret or mystery that ProjectBlank is LeoFinance itself. He did mention it wasn't the initial plan but eventually evolved that way after a series of discussions and work at the backend.

But what really is LeoFinance?

For those who do not know yet, LeoFinance is a project that has several applications on and off the Hive blockchain. Its mission is to democratize financial knowledge on Web3 and it has built (and continue to build) apps, of which some are as follows:

- Onchain Applications by LeoFinance

  • **LeoFinance Frontend/s* This is the social media frontend of LeoFinance on Hive initially designed for long-form contents. And just like any other Hive frontends, authors can earn from their contents and activities and earnings come in HP (HIVE), HBD and other layer 2 tokens like LEO which is LeoFinance's native token.

    The current User Interface is focused on finance, crypto, business or investing-related blogs or contents although it also houses LeoThreads, the microblogging feature where any subject is welcomed.

    The New User Interface
    This is the frontend of LeoFinance. It is still on open Alpha phase and it has placed the microblogging (short form contents) feature in its forefront which is a very welcoming change.

  • HiveStats This is an application which anyone can use to tracks and monitors any Hive account's statistics, including wallet holdings, earning history, Layer 2 assets, voting power and curation rewards.

  • LeoDex A decentralized exchanged that is built by LeoFinance where users can trade or swap Layer 2 assets.

    Other applications built by LeoFinance include LeoFi and LeoPedia.

- DeFi applications by LeoFinance

- LeoBridges or the Multi-Token Bridge

  • This application allows the permissionless transfer of various assets between Hive and other networks or blockchains like Polygon and BNB chain. The bridge serves as a gateway or channel for users to send or receive assets or funds to and from Hive.

LEO Token & Its Use Cases

  • LEO is a layer 2 token and native to the LeoFinance platform. It is one of the main rewards tokens on the frontend. As of this writing, over 70% of the token is staked.

  • Users can stake LEO into Leo Power and earn curation rewards when they upvote contents. The Leo Power can also be delegated to other accounts. Leo Power can also be leased on LeoFi.

  • LEO can be pooled with other Layer 2 assets on the Diesel Pool to earn rewards in various tokens.

  • Apart from staking and providing liquidity onchain, LEO token can also be pooled with MATIC on Polycub and earn farming rewards.

  • There are other plans where LEO will be used and hope to see them happen in the sooniverse.

Conclusion

With all the applications that have been developed by LeoFinance, those that are still being built and perhaps others still on the drawing board, there is no denying that LeoFinance or Project Blank is truly making an impact.

Statistics show that the LeoFinance frontend is the only platform here on Hive where the userbase has not declined over the years, even during the bear cycles. It houses users with diamond hands as they put it. And with the introduction of LeoThreads attracting more active users, we can only see continuing growth which will contribute to the growth of Hive in general.

The team behind LeoFinance is working on to making the platform the "Everything App" on the Hive blockchain and I have faith that they will deliver and succeed.

May I invite you @deraaa, @jane1289 and @lhes to join us on this initiative next week?

Lead image created on Canva. 12032023/13:10ph

Posted Using LeoFinance Alpha

Posted Using LeoFinance Beta