Happy Leo Power Up Day.
Although ironically I am as of yesterday powering down a few thousand LEO to pile into the Leo-Cacao pool on LeoDex.
My reasoning is that there are very limited decentralised, non-exchange protocols for transferring directly from say BTC to Hive/ HBD. The later two being mostly interchangeable.
I think it's reasonable to expect a significant increase in demand for HBDs during the bull market, mostly towards the end of it, of course, at least for a while.
And LEODEX is one of the easiest ways to exchange other tokens for Hive/ HBD.
If you think about it, you can go...
- BTC - HBD.
Literally you can just swap straight, although you'd probably want to avoid huge volumes, but personally I wouldn't be swapping too much in anyone go anyway, and neither would most people on here!
Compare this some of the other options, such as ThorSwap, here you'd have to go....
- BTC - RUNE
- RUNE- BNB
- BNB - DEC/SPS (I think that's still available)
- DEC/SPS - SWAP.HIVE
- CONVERT THAT
- THEN SWAP.HIVE to HBDs.....
I mean OK the later is an option, but just look at the hassle.... although I would go through the pain if it was say $1 cheaper than the direct TX on LEODEX.
Not that there's anything wrong with using centralised exchanges, obviously one can just send BTC to Binance and buy Hive directly, but somehow that feels a little dirty when one can just swap directly.
Although of course one has to watch slippage, naturally.
Time to get in that LEO-CACAO pool...
I think it's time to punt a bit of LEO on a cross chain DEFI coin, and get in that pool for a reasonable 11% return and start enjoying some of the returns from what will probably be an increasing swap volume over the coming weeks and months.
And it'll be good to have a little liquid LEO too just incase that pumps and I want to sell a little!
Final thoughts...
Ohhh I can't wait to get back to fretting about Impermanent loss!!!
That's if it all works, of course...?!?
Posted Using InLeo Alpha