What to do with 50000 LEO?
LBI has come into a chunk of LEO - 57000 to be exact. These funds have been issued to us as a final payment from the Cubfinance days, for stuck HBD. While the amount and method of settling this issue could be debated, I'd rather not to be honest. It's time to finally put a line through that era and move on.
Looking forward.
I feel that the best thing we can do is to work out a plan for this 50000 LEO and work on what is next, not what is in the past. That said, just dumping it on the market is not a good idea in my opinion. I did sell a little, and round it down to an even 50K, but pushing down the price of LEO by selling is not in anyone's interests. So let's look at our options:
Hold it liquid. We could just sit on it, in storage (@lbi-storage currently) and wait for a better time to sell. This has merit, as we can set a LEO price where we are happy to retrieve the value we had in bHBD and at least break even. I was valuing the unwrap in our books at $1500. That would mean selling at around $0.03 - not a big stretch from here if LEO's tokenomics changes come into play and the price moves. We could say $0.04, and retrieve $2000 back which is how much HBD we actually had to unwrap when the bHBD situation failed. Or even $0.05 and get $2500 and make a profit. Not the worst option for sure, but we could miss a lot of upside if LEO succeeds with it's changes.
Stake it all. We could simply stake it into the @lbi-leo wallet, and boost our LEO Power by 50K. We are currently over 200K and another 50K could be nice. But is staked LEO on HIVE the best option? There is another option on its way that may be superior to this.
Take it to LEODEX. A new option will be opening up "SOON" 😉 LEODEX is planned to have a LEO (the arb.leo wrapped version) staking option. This staked LEO will earn a share of LEODEX's revenue, paid I believe in USDC. APR's and such are all unknown of course, as it would depend on the success of LEODEX and how much gets staked. But if LEODEX does gain traction and build significant revenue, this could be a wildly successful move. The potential upside is significant, the risk is 50000 LEO.
Take it to LEODEX (version 2). Another option I have been considering is to rebuild an "off-chain wallet" for LBI. Had this thought even before these funds appeared. I'm particularly interested in TCY - as a income producing way to benefit from the success (if it happens) of Thorchain. We could stake some of the LEO on LEODEX, and use the rest to acquire and stake some TCY. This would give us off chain assets again, and exposure to the Thorchain eco-system in a nice easy yield bearing package.
50000 LEO will seem like heaps to some people, and not much to others. The LEO maxi's in LBI's token holder list will want it all in on LEO, most likely staked on LEODEX with calls to buy more. Other LBI holders are still distrustful, and will want nothing to do with the arb.LEO bridge and LEODEX. Like I said at the start, there is no point arguing about the amount we got or the way it came. It is what it is, let's just work out how to make the most of it.
We are a LEO Based Investment, and it does not make sense to sell it off with some serious possible upside on the cards - if everything works as intended.
My personal thoughts are leading towards option 4. Stake 25000 on LEODEX when that becomes available, and buy an equal amount of TCY and stake it. Shift some extra funds each week (40% of our income get's re-invested, it could easily be moved into this new wallet to DCA into these assets). Build a new "off chain asset base, but one that produces income. Yield but with upside potential if these platforms succeed.
Over to you all, let me know what you think we should do.
Cheers,
JK.
Posted Using INLEO
LOL I am really surprised after all this we are considering entrusting Leofinance with more funds. Personally I'd sell all the Leo, bought HBD, staked it and wait for opportunities VSC might bring while not loosing our funds. Staking Leo seems like a really silly idea - the project is going nowhere, it lost its community trust.
If majority would still go with these options, I would divide liquid Leo by 4 and proceed with option 1,3 and 4. I would not go with option numbers 2 but would use liquid Leo attributable to the division for divs distribution (this would strengthen our growth pace as more would be compounded).
By this we will mitigate the risks.
It looks like 3 or 4 are the popular choices. Like I said in another comment, If LEODEX works we will do very well, If is fails we will have lost $700. I think the upside is worth the risk personally. Turning off inflation totally is a big [plus in my book for the LEO token moving forward, and makes me more optimistic about it's prospects.
Thanks for the input.
Most of the people here haven't heard about 'depegging occurance'. But yes, it seems that majority wants to risk with LeoDex
!pimp
!pimp
I think we should definitely do some or all of option 3. If you think there's enough to warrant splitting to do some of option 4 as well, that works for me.
Personally, I don't get all the negativity surrounding LEO. It's a start-up that has been constantly trying to build something that can be successful. Some things haven't worked, obviously, but it hasn't stopped the team from continuing to build and experiment with the technology as it continues to evolve. There's a reason its at 1.5 cents. Things haven't taken off. Yet. But they continue to learn and build and its not like they're profiting off of those of us using the platform. In my opinion, it's still a matter of when not if. So I'm willing to keep betting on that future. LeoDex seems to be doing pretty well right now, with a lot of potential upside. As a major part of the Leo platform, I think investing into it's success is a perfect place for LBI to place some assets.
I was tha lucky one to exit cubdefi early and I tell you it's not something that doesn't work out. Nevertheless, I would vote for selling out all Leo, but I see majority of people want to keep it so let's decide all the Leo into 4 groups and see what's happening next
Thanks for the good input looks like 3 or 4 are the popular choices. I think I may just stake the full 50K on LEODEX when that is available, and build up a TCY position weekly from our spare funds for re-investing. I do understand why some LBI holders carry a negative view of LEO, and juggling that feeling with the fact we are a "LEO Based Investment" can be tricky.
I am liking what I see with how LEODEX is developing, and would like to invest in it with staked LEO.
Thanks for your input.
3 or 4 👍
Thanks for the feedback.
Hope. Everything goes well.
As one of the LBI holder, I have same issue, but I do not want to sell LEO either.so I guess we left for either 3 or 4 option.
Yes, the bridge is the concern for me, although it is a LEO bridge and not a HIVE/HBD one which was where the previous issues arose.
This version of DeFi based on real yield is much more sustainable than the CUB era DeFi based on mega inflation and hopium.
If LEODEX succeeds, we do well from it. If LEODEX fails, we will have lost around $700 out of a $20K+ fund. I think those odds make the risk worthwhile.
Thanks for chiming in with your thoughts.
3 or 4 sound good... would you consider splitting among both? I'm good with either if not
I'm leaning towards putting the full 50K into LEODEX staking, and then working on building up a TCY position week by week from our spare funds from income.
Thanks for the input.
I'm tempted by the "take the money and run" option given what's happened, but being rational, I'd take option 4 because I think we should diversify away from Hive.
Yeah, I like the look of TCY, and it's fits LBI's style. We are still a LEO based fund, so as much as some have been burned in the past, getting positioned for the future of LEO makes sense.
My goal taking over LBI was to build a solid, growing base on HIVE, and develop a decent income stream. I think we are well placed now with that, and it's time to start rebuilding beyond HIVE.
Thanks for the input.
All these options can be rewarding in the end and that last option sounds like a great one because it’s a new one and might hold a lot of potentials.
!PIMP
That's what I'm thinking, how to add some "potential" into our fund. We have reliable, and consistent, but nothing really that has much chance of outperforming. Need a moonshot.
Thanks for dropping by.
Good one I guess.
It's my pleasure stopping by.
I guess 3 or 4 would be my choice. Hopefully things will work out better this time around.
We live in hope, indeed. I think the risk is worth the potential upside, and it seems most are also leaning to 3 or 4 as the path forward.
Let's have a foot in the door anyway, and see if it does indeed work out better this time.
I vote for three or four with my LBI shares.
Yeah, I personally prefer those two options as well. TCY is interesting, could be a good long term position for us to build. Would give us a position incase Thorchain can rebuild trust and growth.
Thanks for your input as always.
Depends on if they learned their lessons from CUB and POLYCUB or not I think.
Staking on leodex sounds cool
I like the direction they are going in, and the tokenomics change ending inflation makes a lot of sense. Trusting a LEO bridge again after the CUB/Polycub issues will be a stretch for many LBI holders. Hoping to get lots more feedback on the path forward for us.
Cheers for the input.
ye lost a few hundred $ on cub lol
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