Cryptocurrency is filled with the least patient people in any market I have ever encountered. Even in equities, while there are a lot looking to strike it big, most have a degree of patience. Not in cryptocurrency, the focus is about 3 days out. If things do not moon then, it is trash.
The reality is that, outside the pump and dumps, cryptocurrency is representative of development. Things are being built. While this naturally applies to infrastructure and applications, there is another area that is crucial. It is this area where Leofinance is going to excel.
Much of what is in this article came from the recent AMA that was held. Here is the link where it can be viewed on Twitter.
Ultimately, Leofinance is a project where people need to focus upon the long haul. This is not an overnight sensation.
Building A Business
This is something that eludes most. Perhaps it is because much of the early days of crypto were massive runs without much behind them. Markets have a mind of their own and manipulation is often part of it. Pumps and dumps are commonplace. We see it with a lot of projects, even the valid ones. The difference is the ones that are building end up enhancing value over the long-term. This keeps them from floating into oblivion.
Leofinance is using business building tools. From the outside it looks a bit chaotic yet that is exactly how start ups are. Too many come from a background where they experienced business that were already running. This yields little insight into the early days of a business. Those that succeed are able to remain flexible and adjust on the fly. Little goes exactly as planned.
Of course, this is in direct contrast to the quick hit. Social media and television makes us think that everything is an overnight sensation. Few recall that it took Amazon over 20 years to get to the point where it profits exploded. Tesla, another Wall Street darling, took near that long to turn a profit.
Yet in the crypto world, people expect things to have in about 4 weeks. If not, they are done with it.
Therefore, if you do not have a 12-24 month focus, perhaps sell your stake and move on elsewhere. Leofinance is for those understand what building truly means.
Plan of Action
Here is where we see the separation between this project and most. There is a plan of action and it is being followed. As stated, it can look a bit chaotic yet it is not. The one hindrance is the number of developers. This is what is required. More are being added, with another signed on just last week. The team of people hacking away at code is growing. This means that more is going to be churned out.
Leofinance is the grand-daddy of all the applications. People wonder why so much is being developed. While many of the projects have merits on their own, they all serve one underlying purpose:
To be a feeder system into Leofinance
This is how the value will be fed back into the LEO token. All that is being created are tentacles of this overriding system. Of course, many of the applications, especially as related to Cubfinance, are meant to generation wealth for all those involved in Leo. We have options outside of just Leofinance.io.
Having it all under one umbrella is vital. This is where branding eventually enters the picture. Does it seem odd to go in many different directions at one time? Well, that is the model today. When you look at Google, Facebook, and Tesla, they are not single application/product companies. While it is true they have a core, there is a lot more taking place on the edges, some of which has great potential.
This is something that most of cryptocurrency has not caught up with. We have different groups creating different applications, for one specific purpose. While that is a great starting point, how many are branching outside of that? The odds are not very many.
Adapt And Copy
There is a lot of experimentation taking place. This is natural with something so new. Much of what we are doing pertaining to Web 3.0 is novel. We do not know exactly what will work so a lot is tried.
We already saw paths pursued that wound up as dead ends. Again, this is par for the course. Leofinance is no exception. Cubfinance, as an example, evolved from DeFi 1.0 to 2.0. That was a decision made on the fly.
Which brings up to the expansion of PolyCub. Listen to the AMA for more details because I am not about to try and explain the nuances here. However, it was evident from Khal's discussion of it that it is a token which will have tremendous potential. Basically, anyone who is thinking about selling the airdrop might want to listen to what was said before making that decision. There is a lot more there.
In short, we are seeing the latest in Decentralized Finance (DeFi) being added to Cubfinance and all its tentacles. We are still in the early stages, with the entire project being out less than a year. However, as stated above, in addition to being a way for Leos to make a return, it will be a feeder system into the value of LEO.
Too many look at price as a barometer for what is going on. There is a phrase called mark-to-market. This is an accounting method that tries to attain an ongoing value for asset. With cryptocurrency, we are faced with a situation where, for the first time in history, start ups effectively have updated mark-to-market values placed upon them every second of the day. People look at the token price as a referendum of what is going on.
Do you think VCs put up money and ask for moment-by-moment updates?
Kevin Durant invested in Coinbase in 2017. He was part of the venture funding that carried the company to its IPO. All during that time, it was a guesstimate what things were worth. It is likely Durant was not worried since, being in the VC game, he understood how things work. Obviously, this is why he nets the big bucks.
The stock closed at $328 in its first day of trading, resulting in a fully diluted valuation of $86 billion. The value of KD’s 2017 investment in Coinbase is up 54-fold based on the price. The stock peaked at $429 during the day.
Nobody knows exactly how much he invested. However, we do have this:
Durant has invested in around 50 startups including micro-lender Acorns, stock trading platform Robinhood, esports organization Andbox, and cloud data management firm Rubric. Most of the investments have been in the $250,000 to $1 million range. A $250,000 investment in Coinbase in 2017 would be worth $13.5 million at Wednesday’s closing price.
If this is correct, his take was between $13M-$52M. Not bad for 4 years worth.
Playing In The Big Leagues
We often complain how the wealthy have all the opportunities and that they catch all the breaks. However, when we are presented with a chance to hit it big, what do we do? We focus upon every tick of the tape and complain when markets fall. This is not how massive wealth is accumulated.
The question we all should be asking as we watch the AMA is where will Leo be in a year or two?
Khal's excitement over PolyCub is because he understands the link to the rest of the Leo ecosystem. Of course, even stated in the video, Leobridge is going to be a big part of all this, helping to drive further value to Cubfinance.
This is just one subset of the Leofinance ecosystem. Having a DeFi platform, one that is adapting and expanding, is an added bonus. One of the best ways to grow is to be able to expand in many different directions. Having appeal to a vast number of users with varied interests is imperative.
Of course, none of this approaches upon what I consider to be the Killer DApp. When #ProjectBlank rolls out, we are going to see a massive onboarding device. This is going to feed a lot of people into the Leofinance platform. Are all of them going to be bloggers? No. Will all of them be interested in DeFi? No Does everyone want to be a part of the NFT craze? Certainly not.
However, all of those will be available within the Leofinance family. We are delving into some of the most fundamental aspects of the cryptocurrency industry. My guess is this will only continue.
Ultimately, we all have a stake in what is taking place. Having LEO means that one has a vested interest in the future direction of things. The question is are you in it for the big money? Leofinance is a start up with all the risks associated with it. While many of us are confident about where things are heading, nothing is guaranteed.
However, that is where the fortunes are made. Amazon was started with a $250K loan to Bezos by his parents. When they gave him the money he warned them that it was probably going to be lost and never paid back. How is that for downside potential?
See if you are excited about Leofinance as I am after watching the AMA. There is a lot happening and many plans with the applications. The goal is to insert this platform right in the middle of the cryptocurrency industry.
And who knows, perhaps it will be a household name at some point. There are going to be explosive projects with Web 3.0. Why not Leo?
This article is for informational purposes only and should not be considered to be financial advice.
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. Keep up the fantastic work