On & Off-Chain LPUD? [Leodex & Stakes]

in #hive-167922last month

Oh la la! It's LPUD and guess what? I did two of them. One on-chain and another off-chain. Were you aware of the second kind?


Well, thanks to Nifty for floating the idea of a Liquidity Power Up Day where we provide liquidity and help deepen the LEO/CACAO pool in the multi-chain decentralized exchange powered by Maya Protocol and HAT.

Where?

Enter Leodex

If you did not already know, Leodex opened a gateway for Hive to other chains. With it, we can now swap Layer 1 native assets like ETH, USDT, USDC, BTC, and others for HIVE, HBD, LEO, SPS & DEC. Likewise, it is also possible to swap Hive-based assets with other L1 tokens and Stablecoins without going through centralized routes.

In addition, we don't need to transfer our HIVE or HBD anywhere to do swaps, thanks to the Hive Aggregator Technology (HAT) developed by the INLEO team. All we need is to type our Hive account name when we connect our DeFi wallet (Keystore, MetaMask, XDeFi) and approve the transaction on the Keychain app when we perform any swap.

We must be aware though that the fees (gas plus slippage fee) can be high depending on the network, so we have to check the quote price before swapping. Below for example are the estimated fees quoted to swap 1000 HIVE for CACAO. I believe the amount included the 0.45% affiliate fee (it's free for under $150 worth of swaps).


Also, depending on the timing, there's an arbitrage opportunity on the DEX and one can earn some small amounts instantly from swapping. If you're intentionally checking the DEX for such an opportunity then I think you will have a better chance.


Anyway, back to LPUD

I mentioned a while back that I did two versions of LPUD and here they are:

👉On-chain:

150 LEO staked for the regular LPUD initiative in the community. This increased my Leo Power and made me eligible for the badge from Hivebuzz. Plus a good chance in the LPUD delegation prizes (if there are any).


👉On Leodex:

The off-chain LPUD! This is my second time adding to the LEO:CACAO pool, and my first LPUD off the chain. We need a decentralized onramp and offramp for our assets and Leodex provides that, hence I support its growth. Its success is Hive's too, and this is my small way of supporting and funding the flywheel as they put it. With that, I increased my LP position by 150 LEO+10.45 CACAO.


So there it is, my two forms of LPUD done!

Stakes & Goals Updates

Meanwhile, it's the weekend so it's that time again for a quick rundown of our stakes and savings for week 24th of the year. Here's mine:

LEO Power (LP)

  • Current Amt: 30,263 LP

  • Previous Wk: 30,109 LP

  • Increase: 154 LEO

    It's odd that in the last seven days, the increase in my Leo Power was just 4 (excluding my power up today of 150 LEO). It should be more than that considering the daily staked LEO from leo.bounties. Unless my math is wrong or some delegation rewards were paid in liquid LEO. Well, it's a small discrepancy but I find it weird.😅

HIVE Power (HP)

  • Current Amt: 20,326 HP

  • Previous Wk: 20,162 HP

  • Increase: 164 HP

    It's always nice to see the number grow steadily week after week, thanks to content and curation rewards adding up with my daily staking. My aim to reach 23k HP at the end of the year is on track. And with the price of HIVE being low, it doesn't feel right to sell, it's better to stack up.

HBD Savings

  • Current Amt: 1,083

  • Previous Wk: 1,051

  • Increase: 32 HBD

    16+HBD were interest received 5 days ago. Adding to the savings has become a part of the daily routine. Although I'm still keeping some liquid, purchasing HIVE at random times. The low price is irresistible but growing both (Savings and HIVE stakes) makes sense.

Summing Up

It felt good to have done the two kinds of LPUDs today (albeit the other was unofficial). For the first time, my alt account skipped its participation in the official initiative but did its part by providing liquidity on Leodex so I guess that counts😅

I hope you did yours too😉

Happy Power Up Day, frens! Have a fabulous weekend!


Lead image created on Canva. Screenshots directly linked to their sources. No copyright infringement intended. 15062024/20:41ph

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Congratulations on your power up
Also, does Leodex work exactly like Hive Keychain?
!LADY

Thank you sis !LADY❤️

No, Leodex is different. Here's a tutorial on how to use it:

More here.

View or trade LOH tokens.


@ifarmgirl, you successfully shared 0.1000 LOH with @rafzat and you earned 0.1000 LOH as tips. (3/25 calls)

Use !LADY command to share LOH! More details available in this post.

View or trade LOH tokens.


@rafzat, you successfully shared 0.1000 LOH with @ifarmgirl and you earned 0.1000 LOH as tips. (2/4 calls)

Use !LADY command to share LOH! More details available in this post.

Ang dami mo na pong nasave. I wonder why you're not selling it? Thank you.😊

I feel it's a waste to sell them at the current prices😉

!LADY

View or trade LOH tokens.


@ifarmgirl, you successfully shared 0.1000 LOH with @fixyetbroken and you earned 0.1000 LOH as tips. (1/25 calls)

Use !LADY command to share LOH! More details available in this post.

I thought you have no plan of selling it. 😁😁

Haha. I will at some point. Just not this time :)

The numbers inspired me not to sell mine too.😁 Thank you for sharing.😊

Good to hear :) All the best, sis !LADY

Thank you.😊😊 Have a nice day ahead.😊😊

View or trade LOH tokens.


@ifarmgirl, you successfully shared 0.1000 LOH with @fixyetbroken and you earned 0.1000 LOH as tips. (2/25 calls)

Use !LADY command to share LOH! More details available in this post.

Nicely done! Way to support InLeo!

Yeah, just my small part :)

Quite nice...

Leodex is really putting Hive's name out there...

Yeah, let's hope it grows big 😉

Congratulations.
This is a great improvement to share with everyone. Keep up.

Gracias. Have a glorious weekend!

!PIZZA

PIZZA!

$PIZZA slices delivered:
@ifarmgirl(1/5) tipped @captainman
theringmaster tipped ifarmgirl

Congratulations to you for powering up on chain and off chain. I am going to power up now. I am still thinking what to write about it 🤔?

Congrats to you as well. I'm sure by this time, you have already published your LPUD post hehe.

Hehe. I also powered up and published the post😅.

Congrats! It's cool to see that you participated in both forms of LPUD and I confess that I didn't know about LeoDex.

I hope more people can be encouraged to join us. You're doing great and that helps motivate me.

You are really doing a very great job dear friend

Oh Wow dearest FG, you really had a busy LPUD day with both on-chain and off-chain actions. Your commitment to supporting decentralized exchanges like Leodex is so admirable. Keep powering up dearest, and for me I'm so glad to know and have friends like you who motivate me to go forward !PIZZA

You're so very kind, thank you. Staking seemed to be the best option this time, especially with the low price of HIVE and LEO. I wish you the best in your plans and investments 😉

You're absolutely right dearest FG and thanks for the well wishes, so badly want to keep growing on Hive to become Orca one day

That's awesome to hear. Sounds like you put your heart into it so it won't be surprising when one day, you will be amongst the Orca onchain :)

Absolutely dearest, I was infact about to go and sleep and I had to make sure I've engaged a little more.... I enjoyed this week and spending time with my family as well

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Thanks as always :)

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Is it worth putting in such a small amount given the fees...?

I would have thought a minimum of $50 worth at a time to make it worthwhile...?

I guess not, it's the little thought that counts haha!

Maybe pool less often, otherwise you'll lose a little. You'd probably make more just swapping LEO for Cacao (or just BTC) and holding the later!

Yes, thank you. I appreciate it. I was thinking of getting more CACAO, especially now that the price is down. The upside potential can be better.

It's good you participated in both the on and off chain LPUD. You are doing all right with the goals and I think your level of progress is commendable. You keep that up and in the near/far future you would be awed how far you'd go. Thanks for updating us on your onchain and offchain activities. Hope your weekend is going great. May the new week be much better for you.

Thank you lots for the kindest remarks. The crypto market these days is not ideal so might as well stake what we can hehe. I wish you a lovely weekend and a new week too.

Congratulations @ifarmgirl! You received a personal badge!

You powered-up at least 150 LEO on Leo Power Up Day!
Thank you for participating in the Leo challenge.

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