Ultimate Guide To LEO Power

in #hive-1679222 years ago

Leo Power.png


What Is LEO Token?

LEO is the social & utility token of the Leo Finance Community. It is built as a second-layer protocol on Hive which is a DPOS Blockchain perfect for developing scalable Web3 Dapps, Tools, and Tokenized Communities. Similar to Tokens built on Ethereum Blockchain like USDT, USDC, etc.

What Is LEO Power?

LEO Power is simply the number of tokens staked in your LEO Wallet. It's similar to Hive Power which gives you influence on the platform. You can distribute LEO rewards through your voting power by giving upvotes to content you like. Your vote value will depend upon the amount of LEO Power you have and it keeps changing depending on the price of the token. The more power you have, the bigger your upvote value is going to be. Your curation rewards also grow with your LEO Power.

Both author and curation rewards on LeoFinance are liquid, unlike Hive which gives 50% liquid and 50% powered-up Hive. You can power down to get liquid LEO in 4 equal installments that will be credited to your wallet every week.

What Is Your LEO Voting Power?

Whenever you make an upvote, you can choose the percentage to adjust your vote weight. This helps you to manage your voting power on LeoFinance which depletes with each vote your make. Go to the rewards section of LeoDex to see your voting power or checkout LeoFinance.io and find the percentage under your username and profile pic on the top navigation panel.

LeoDEX

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LeoFinance.io

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Earning Opportinities From Leo Power

There are two different ways by which you can earn more LEO tokens using your LEO Power:

  1. Curation Rewards: Curators on LeoFinance get 50% rewards from the total number of upvotes a post or a comment gets. It means when you upvote someone, 50% of your vote value will come to you. It's a unique way to reward curators which is unique to Hive Blockchain.
  2. Delegation Rewards: If you don't want to do curation yourself then, you can delegate your LEO Power to other curation projects to earn passive rewards in LEO. @meowcurator, @leo-curator, @india-leo & @hodlcommunity are some of the accounts which provide such service.

How To Buy LEO Token & Power Up?

There are four ways to buy LEO Token:

  1. LeoDex or Hive Engine On Hive Network
  2. Uniswap On Ethereum Network
  3. Pancakeswap On BSC Network
  4. Sushiswap On Polygon Network

In this guide, I will only cover the 1 & 4 because they are the cheapest ways to buy LEO. Buying on Pancakeswap and Uniswap is similar to buying on Sushiswap, so in a way, I am covering all of them in one place.

Buy LEO Via LeoDEX

STEP1: Go To LeoDEX and login with your Hive Account via Hive Keychain. It is a browser extension and a secure method of interacting with various Dapps on the Hive blockchain. Just like Metamask. Setting up Keychain is an easy and you can follow the linked guide to set it up. Once logged in, you will see the below screen:

screely1661773837368.png

STEP2: Add SWAP.HIVE to your LeoDEX wallet. You can do this by clicking on the "Deposit" button on the top right of the Homepage. You can specify the amount of Hive you want to deposit and press "Deposite Hive" button as shown in the below screenshot.

screely1661773996351.png

I already have some Hive in my LeoDEX wallet so I am not depositing any. A keychain popup will ask you to sign the transaction and confirm it. Do that and you will get SWAP.HIVE in your wallet after reducing the 0.25% fee.

STEP3: Go to the homepage or visit this link https://leodex.io/market/LEO. You can buy LEO by placing a Limit or Market order. In a limit order, you specify the price & amount you want to buy and your order gets filled only at the price you mentioned. A market order will buy LEO as per the current price available in the market. If you can wait and not lose money, choose limit order. If you are in a hurry, then choose market order.

screely1661774354426.png

That's it. You are done with buying LEO. Check your LEO Balance in the LeoDEX wallet or LeoFinance.io wallet. You can follow similar steps on Hive-Engine if you prefer buying from there.

screely1661774471696.png


Buy LEO Via Sushiswap

You can also buy LEO on Polygon Network (pLEO) and send it to Hive Network via Multi Token Bridge.

STEP1: Go to Sushiswap and connect with your metamask. You need to set up the metamask wallet and add polygon network before this step. Once logged in, you will see the below screen:

screely1661782698300.png

STEP2: In the first dropdown, select the token you want to exchange for pLEO, in my case I am selecting MATIC. In the second dropdown search for "0xF826A91e8De52bC1Baf40d88203E572DC2551aa3" to get pLEO as an option.

screely1661783012142.png

You can buy MATIC or USDT/USDC on any of the exchanges like Binance which allows withdrawals to Polygon Network. Send those tokens to your Metamask before this step so that you have enough crypto to buy pLEO.

STEP3: Fill in the amount in MATIC to see what you will receive in pLEO or alternatively, fill in the amount of pLEO you want, to see how many MATIC tokens are required. You will have to Approve MATIC transactions in your Metamask for the first time.

screely1646652785223.png

Click on Swap and then "Confirm Swap" to proceed and "confirm" the transaction in Metamask. Done!

STEP4: Go to the Multi Token Bridge to convert pLEO into LEO that will be visible in your Leo DEX wallet.

screely1661783324443.png

Fill in the amount of LEO you want after conversion and press "Transfer" Button. Metamask will ask you to confirm the transaction. Do it and you are done. Check your Leo DEX wallet or LeoFinance.io Wallet to see your balance.


Power Up LEO

You can power up LEO from both LeoDEX and LeoFinance.io wallets. It is similar to staking your token and locking it up. If you click on the closed lock icon against your LEO Balance as shown in the above screenshot, then you will get this pop-up:

screely1661774801138.png

You can specify the number of LEO Tokens you want to power up and hit "Stake LEO" button and confirm the transaction via Hive Keychain.


How To Delegate Your LEO Power?

You can delegate your LEO power via Leo DEX and LeoFinance.io. Just visit the wallet and you will see the power up button as shown in the below screenshot:

screely1661820960461.png

As we know, delegating to @meowcurator lets you earn passive income in LEO. After clicking the delegate button you will see the below pop up. Just fill in the details, hit "continue" button and confirm the transaction.


Follow: https://leofinance.io/@finguru

Twitter: https://twitter.com/finguru6

Discord: finguru#4062


Not financial advice. For infotainment purposes only.

Posted Using LeoFinance Beta

Sort:  

Soy español pero me parece genial este tipo de contenido, te ilustra y te da mas conocimiento sobre el tema, genial.
Saludos

Solid guide. very detailed for every class of user.

Posted Using LeoFinance Beta

Thank you so much bro! Cheers.

Posted Using LeoFinance Beta



The rewards earned on this comment will go directly to the people( @finguru, @zestimony, @fragozar01, @mistakili, @solymi, @rzc24-nftbbg, @attentionneeded ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

Great work. I didn't know about all the delegation options.

There are some cool options if you don't want to worry about curating yourself.

Posted Using LeoFinance Beta

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

Delegated all of my leo to @india-leo - the best utilization of leo, if not self curating.

Good one @sanjeevm. It also has the best returns among the three options I mentioned in the blog. A win win for everyone.

Posted Using LeoFinance Beta

Between these three which would you recommend for delegation? As in any specific idea on how much reward we get like 90% rewards out of delegation? and also the minimum delegation amount for these accounts?

I would recommend @india-leo. Best returns! 100% curation rewards are shared with delegators depending upon the amount of LP delegated to them.

The minimum delegation amount must be different (IDK the actuals) but to receive substantial rewards, you should delegate at least 500 LP. But you can always start small and increase it as you earn more.

Posted Using LeoFinance Beta

The title really suite the content of this post! The ultimate guide it is indeed!

Haha. Thanks a lot bro. :') Cheers!

Posted Using LeoFinance Beta

.

Thanks mate. 🚀

Posted Using LeoFinance Beta

Amazing stuff mate, appreciated!

You can buy the token on 4 blockchains, sweet 🔥

Posted Using LeoFinance Beta

Hello yeah mate. xD Soon it will be 10 and then everywhere. 🚀🚀

Posted Using LeoFinance Beta

enough said .

lol

Posted Using LeoFinance Beta

Nice and in-depth analysis. It also seems that the amount of Leo power influences how visible one is on the platform because it seems my Leo power is not good enough to allow me to be seen!

I see you, and agree with your post on search. :)

Posted Using LeoFinance Beta

Thanks 👍

Thanks @zestimony. That is why I want to hit 100k LEO Power soon. 🔥 If you want to have more influence, power up.

Posted Using LeoFinance Beta

I'm really trying in my little ways though! Think it will take a bit of time!

Yes, bro. It will take time and but later on it starts growing exponentially. Good luck!

Posted Using LeoFinance Beta

Thanks Mate!

Great guide! Good explanation for the newbies!

Posted Using LeoFinance Beta

Thanks mate. Cheers!

Posted Using LeoFinance Beta

I believe this content should be linked to leoglossary, because it is spectacular 👌

Posted Using LeoFinance Beta

That'd be awesome!! 🚀🚀

Posted Using LeoFinance Beta

I really do appreciate you for this informative post... Well done

Thank you so much. 🚀🚀

Posted Using LeoFinance Beta

This is very informative and good to know how well this will definitely help as to delegating of Leo and also taking part in the Leo power up day

Posted Using LeoFinance Beta

Glad you liked it mate. Enjoy delegating your Leo Power to make more LEO. xD

Posted Using LeoFinance Beta

Great work and read! Definitely one of the most extensive LEO guide out there.

Thank you for writing this.

Fully upvoted!

Posted using LeoFinance Mobile

Thanks a lot @vlemon. ❤️🚀🦁 You are awesome.

Posted Using LeoFinance Beta

Just thought I would also point out that you can delegate LEO Power to @hodlcommunity to get daily curation rewards too!
It is just another option and we publish 4 LEO curation reports per week to help new or existing Leofinance authors.

Posted using LeoFinance Mobile

Fuck. How did I miss it. xD

Added now.

Posted Using LeoFinance Beta


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Learn how to earn FREE BEER each day by staking your BEER.

Great post!
Let's celebrate :)
!BEER

Posted Using LeoFinance Beta

Thanks Kat. No beers without !PIZZA 🍕 xD

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PIZZA Holders sent $PIZZA tips in this post's comments:
finguru tipped wrestlingdesires (x1)
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Learn more at https://hive.pizza.

It is a very useful guide to learn about the leo power and how one can make the most out of it. Great post bro

Posted Using LeoFinance Beta

Thanks a lot, bro. I tried to keep everything simple. Hope it works!

Posted Using LeoFinance Beta

It's always nice to see a guide on how to do all of these features even if I already know it. I guess the only thing missing is bLEO but it's similar to pLEO so I think its fine.

Posted Using LeoFinance Beta

Thanks a lot J. I mentioned this in the blog that buying pLEO and bLEO are similar. Just different networks and exchanges. I hope that's ok. Maybe I should add their tutorial links as well just in case.

Posted Using LeoFinance Beta

He covered it. Option #3 in his list. And, as you say, it is similar to PLEO, which he also mentions by way of explanation for why he did not go into detail on the BLEO option ...

Posted Using LeoFinance Beta

Thanks a lot @roleerob for explaining on my behalf. 🦁✌️ Cheers!

Posted Using LeoFinance Beta

I've noticed that when I go to the Leo frontend, even if my hp is depleted, my power says 100%, does that mean my curation is done purely in Leo?

This post has been manually curated by the VYB curation project

It shouldn't happen that way. If you upvote using LEO Frontend, your HP should go low. It also takes a few seconds to get updated.

This post has been manually curated by the VYB curation project

Thanks a lot, mate. Cheers!

Posted Using LeoFinance Beta

Strange... I look on both Ecency and Peakd and have under 90% voting power. But on Leo, it's at 100. What could be going on?

And my pleasure, thank you for the good read :)

Because on leoFinance UI it is showing your LEO Power, not Hive Power. It will only drain if you upvote posts published in the LeoFinance community or with tags like #leo & #leofinance.

You are most welcome mate. :))

Posted Using LeoFinance Beta

Oh, I get it now, thanks :) ...
!PIZZA

Awesome.

!PIZZA

wow.. very detailed and well written.
Thank you for sharing this post. I'm sure it will help newbies understand a lot about leo power

Posted Using LeoFinance Beta

Thanks a lot, mate. This was written keeping newbies in mind. Hope it helps.

Posted Using LeoFinance Beta

I'll sure begin to buy and Power up LEO tokens. That sounds like a great decision now.

Posted using LeoFinance Mobile

Excellent guide. I’ve been focusing on growing my leo account a little more and this just gave me some pretty good idea…

Thanks for sharing!

Posted using LeoFinance Mobile

That's awesome bro. Leo Finance is the best community in town. ;) Should be a wise decision.

Posted Using LeoFinance Beta

Great work here, stunning analysis if you may. I think this is one of the contents that should be pinned or immortalized. Amazing. Well-done

Posted Using LeoFinance Beta

Haha. It's on an immutable blockchain. I hope it is as close to being immortalized. xD Thanks a lot brother.

Posted Using LeoFinance Beta

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Woaah! That's a lot xD Grateful for having some of the best conversations of my life on Hive.

You're welcome @finguru! Have a nice day 😊👍🌹