First thing's first...
Why am I Buying Leo?
Simple, there is so much going on with leofinance at the moment you would be crazy not to.
The tweet-o-sphere is a buzz with whispers and rumors. An incoming airdrop, the mysterious ProjectBlank and some serious hints at a possible binance smart chain wrapped LEO token within the next few days.
As can be seen in the title image, @taskmaster4450 tweeted that #ProjectBlank has been delayed, but on the same day I saw a tweet from Khal hinting that they were buying BNB as it would become a necessity.
Further hints come in the form of this podcast featuring @khaleelkazi + @dalz, shared on the official @leofinance channel.
The degree to which BSC is decentralized can be debated all day long but there is no question that DeFi has become more and more inaccessible to smaller investors on the Ethereum blockchain due to enormous fees.
Source: Podcast
Could this mean yield farming on binance smart chain with a wrapped BLeo token? I really hope so, as I've been put off participate in any Defi liquidity farming on the ETH blockchain due to gas fees. A BSC Defi option could be a game changer, providing a cheap alternative to grow your wealth for people who don't hold massive bags of ETH.
Whatever the story turns out to be, one thing is for certain... Leo is hot right now!
I have to hand it to @khaleelkazi, they really know how to market Leo to hive users and to the wider crypto community on twitter.
I have been accumulating Leo over the last month in preparation for the incoming #ProjectBlank airdrop, and have increased my stake from single digits to just over 500 Leo, with more orders on the market as I type this post.
Dollar cost averaging in.
I do have one constructive criticism - it is a little annoying to have powered up the 500 LEO I bought, only to see a delay in ProjectBlank and the airdrop. Especially if a potential staking opportunity arises on binance smart chain, as this Leo is now illiquid and will take some time to power down if I want to experiment with Liquidity pools. It might have been a better idea to keep the project quiet until a firm date was set.
But this is a small gripe, as my Leo stake is actively being used to earn more tokens through curation. Happy Dayz!
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Down the Crypto Twitter Rabbit Hole - $ROWAN Token... WTF?
Imagine my surprise when surfing twitter I stumbled across a token with my name on it... literally.
Anyone who reads my creative writing (fiction and poetry) on hive, will see my name at the bottom of those posts with a copyright notice. It's quite an unusual name so I guess it was just a matter of time before a cryptocurrency project hijacked my namesake 😂
They say truth is stranger than fiction, and this is becoming increasingly relevant in this weird and wonderful crypto space.
But what is Rowan Token?
The official description is: A Polyvalent Token for Omni-Chain Decentralized Exchange (DEX).
If you can translate that official explanation fully I take my hat off to you.
As far as I could figure it ROWAN is the operational token for a new DEX (decentralized exchange) that is attempting to work as a layer two solution to Ethereum by bridging it with Cosmos, and other blockchains in the future.
Sifchain launches its omni-chain DEX, enabling true cross-chain value exchange with infinite scale. The BetaNet release brings to production the first Ethereum <> Cosmos network bridge and it will support many more blockchains in the future. Rowan is the native token of Sifchain and its architects formulated incentives for early investors to participate.
Source: Token's Medium Page
The project is in its early stages but they aim to provide the following utilities:
Stake for Commission Fees - Token Swaps - Rewards Through Liquidity Pools
That's as simply as I can put it.
From what I've read on their Medium page, it is another Defi Dex trying to compete with the likes of binance smart chain and Ethereum. Liquidity pools, token swaps and various governance uses, including delegation functionality, do make it an interesting project, but I can't see anything amazingly new or innovative.
To read more check out the official medium article: https://medium.com/sifchain-finance/uses-for-rowan-the-polyvalent-token-for-omni-chain-decentralized-exchange-dex-3207e7f70f02
and to find the right resources for purchasing ROWAN check out the Sifchain.finance FAQ here: https://docs.sifchain.finance/resources/faq#how-can-i-acquire-rowan-and-or-erowan
The dex can be found here: https://dex.sifchain.finance/#/peg
Conclusion on Rowan...
Would I go out and buy a token solely based on it being the same as my name?
Hell no... even I'm not that loopy tunes 😉
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This is definetly one of those coins that is a speculative punt for anyone brave enough to throw some ETH at it. The ERowan token has risen from $0.31-$0.72 in the last six days since launch, so it has performed well with the initial IDO launch pump. But these things tend to tumble on down as soon as the first big pre-sale contributor decides they've seen enough 10's of X gains, so now probably isn't the best time for a speculative punt.
I might have a go if it retraces to $0.30-$0.40... after all it would be a story to tell the grandkids if I got rich by investing in my own name 🤣
Thanks for reading.
Nothing in the this post constitutes financial advice. These are my opinions and all investments should be researched and entered into at your own risk.
If you have enjoyed reading this post, please check out my homepage @raj808 for similar content.
https://join.swissborg.com/r/rowanKC4M
https://www.coinbase.com/join/joyce_pa
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Just in case someone here chooses their tokens by name: The crypto kebab counter is open. Normal kebab? No problem:
https://coinmarketcap.com/currencies/kebab-token/
Chicken kebab? You look:
https://coinmarketcap.com/currencies/chickenkebab-finance/
More deals coming soon! Dürum and lachmacun.
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Your name is Kebab? 🤣
I might take a gander at the ole kebab token... at about 4am in the morning after a skin full of beer.
Don't drink and trade, it always ends in tears 🤣
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Y my parents named me and my brother after what they like most. I am Kebab and my brother is Bitcoin.
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🤣 that is brilliant mate.
My mum was a massive hippie so she named me after a tree.
True story ;)
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Hahaha nice, but be happy with your name. If your mother would have been german you could have be named "Eiche". Lmao
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Rowan Token? It's a sign brother, you'll soon be rich and famous. Great choice with staking Leo.
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Haha, well after a little research I'm not gonna buy any $rowan token right now... at least not until it launches on an exchange where you don't have to pay $60 in gas fees just to buy the thing.
I'm sad to say that there is a chance that rowan coin is not the best crypto... dragging my good name through the mud 😅
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Well there's every chance it's not the best crypto out there hahaha. Good name ruined then. Hahaha
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Lol, they took your token man!
Yeah those ETH fees are ridiculous, I actually installed a browser plugin that I posted about today which shows the live GAS fee for ethereum. It's insane how ETH is basically pricing out the small folks like us, thankfully there's platforms like HIVE and LEO that we can do this all for free!
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Yeah... the backstards 😂
I saw that post. I'm gonna find the plugin tomorrow and maybe experiment with moving some ETH at like 2-3am in the morning when I've heard it can be super cheap 🙂
I don't know if there are any graphs around that show the average time for cheaper ETH fees so you can time it right! Get the Ovaltine ready, going to be a long night haha
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Yeah, there is somewhere as I googled it a few months back when I was in a lottery to get a space in an IDO on polkerstarter for finexflo. Unfortunately I didn't win a place into that sale as the token did a 13x in the days after 😅
I was going to move about $500 worth of ETH to punt on that IDO if I'd got in so I was trying to prep for cheapest fees. Even if I'd lost $50 worth of ETH throughout the whole process I'd still have made $5350, as the buyin price was $0.05 and it went to $0.65 😒
If memory serves there is a period between 2-4 am GMT when you can get the cheapest gas fees.
Ah mate, I've had a few "if only I..." moments and it does no favours! There'll be other opportunities our way, I'm sure! Then we can sip mojitos on our inflatable lidos in Portugal... Or splash around in the rain in Blighty 😂
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ha ha, much rather than blighty rain storms buddy 😂
I was chatting to a bunch of my friends on a Whatsapp group yesterday and told them about my plans to move, possibly to Portugal. They were very supportative... mainly because i run a yearly xmas pub crawl for college mates in Lpool, and they wanted it to be in Lisbon next year... with hangover recovery by the pool.
I think that they think I'm full of it about all this crypto stuff tbh, but like scotty... I shall make it so.
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Leo is a great project and buying more before #projectblank is good decision.
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Yes, I agree. I'm looking forward to seeing how ProjectBlank plays out 🙂
Until then... stacking the Leo and Hive.
Wrapped coin, yield farming, defi channel... I keep reading terms like this all over, but all of this stuff is just gibberish to me. I suppose the people calling for practical subjects in school are right: I really should have taken some finance education at some point. Ah well... I just keep buying BTC and try not to be too distracted by my ignorance. But LEO does keep catching my eye.
I don't think Rowan is such an unusual name. I know a few Rowans. Also there's a Kiwi fellow I follow on youtube named Rowan who puts out comedy skit videos. Funny to find a token with your name though.
It is all very confusing tbh.
I'm only just grasping Defi Liquidity farming myself now, and I've been teaching myself for a few months now.
Haha, well it all gives me a massive headache learning this stuff, but I hope that it will pay off this bull run, and all this self taught knowledge has already given me a taste of $$$$ gains. Mostly I put my gains into Bitcoin, and will be cashing that out when I judge the market peak is close.
I think your choice to stick to BTC is a sound one, especially if you don't want the headaches 🤣
Thanks for the info @funtraveller
I was considering doing a full deep dive read through of their page, FAQ and looking for other feedback on the project, but you've saved me the work.
For me, what you highlight about it being only available to buy through ETH gateways is the nail in the coffin. I, like yourself, would only be throwing one or two hundred dollars at it as a speculative punt. Not worth it with $60 gas fees :(
Layer two for ETH, or direct scaling needs to be sorted out soon I think or it will seriously hamper the growth of the crypto space.