Introducing LeoFinance | Major Updates to the SteemLeo Community Since the Hive HardFork
I’ve been sitting on this update for a while now and have made continual updates to it since the situation is continually evolving. With the uncertainties of Steem-Engine/Hive-Engine, Hardfork 23 and the creation of Hive, etc. etc. there is a lot to cover and a lot of things that we need to work on.
Originally posted on LeoFinance and Hive (https://email@example.com/introducing-leofinance-or-major-updates-to-the-steemleo-community-since-the-hive-hardfork)
Updates in this Post:
- LeoFinance Rebranding and Updated Mission Statement
- LEO, LEOM, LEOMM Stakeholders
- Steemleo.com Website Interface
- Dex.Steemleo.com Exchange Interface
- LeoDex Gateway for STEEM-STEEMP
- Marketing — Twitter, Medium, YouTube, Podcasts…
- LeoFinance Hive Community on PeakD and Other Interfaces
LeoFinance Rebranding and Updated Mission Statement:
Falling in line with many of the applications and communities that have been built on Steem, we need to do a full rebrand to get rid of Steem from our branding. We could’ve gone with something related to Hive, but many in the community have agreed that it’s better to do something more broad that encompasses what this community is actually about.
LeoFinance is the most popular one that has been suggested and I think it does a great job in branding this community.
LeoFinance is a community for crypto & finance content creators. We blog, we chat, we debate, we talk trade ideas… As many have said previously, we can be likened to a decentralized Seeking Alpha.
To reach an even broader audience, now you might consider telling friends and family that we resemble a decentralized Yahoo Finance.
The direction that LeoFinance is headed is toward bringing a broader array of services to the community. Steemleo started as a simple tribe on Steem-Engine with a condenser clone interface showing blog posts about crypto & finance.
Now we’ve got 4 websites in our portfolio:
- A blogging interface (https://steemleo.com)
- An exchange interface (https://dex.steemleo.com)
- A digital marketplace (https://shop.steemleo.com)
- LeoPedia - extension of the main site (https://steemleo.com/leopedia)
all of these links will be redirected to LeoFinance.io once our new domain is ready
We’re going to continually offer more services, features and community-offerings that continue to broaden the reach of LeoFinance. Creating more of what resembles a “financial hub” (to use @taskmaster4450’s words) than anything else.
LEO, LEOM, LEOMM Stakeholders:
Your LEO/LEOM/LEOMM tokens are not going to disappear. No matter what happens with Steem-Engine or Hive-Engine, LEO tokens will exist in one form or another. Whether that’s on an HMT protocol on Hive or even if we have to explore other alternatives until a protocol like that exists.
Many stakeholders (in LEO and in every other SE token) have expressed concerns over how token airdrops/balances will be considered. While SE is diluting the value of ENG in their issuance of the BEE token for Hive-Engine, LeoFinance will not dilute the LEO token and airdrop some new form of LEO on Hive-Engine or any other exchange.
1 LEO will always be 1 LEO in our community. If we move the operations of LEO tokens to another blockchain (be it Hive-Engine on the Hive blockchain or HMTs on Hive or even on another blockchain protocol), your existing LEO holdings on your Steem/Steem-Engine account will be airdropped the 1:1 equivalent balance.
After the most recent update, LEO still lives on the Steem blockchain, but your upvotes are counted based on Hive blockchain upvotes.
So when you see a post on Hive in the LeoFinance Community and you upvote it, your LEO stake is indexed as having upvoted that post. Then, the scotbot system credits the author’s post based on your upvote. The normal 7 day payout window applies and when that window is completed, you earn curation rewards on your Steem blockchain account on Steem-Engine even though everything else happened on Hive.
In short, everything works on Hive except for operations that are directly related to the token (i.e. sending, staking, delegating, claim rewards, etc.). You earn curation rewards and author rewards from posting and upvoting LeoFinance content on the Hive blockchain.
Steemleo.com Website Interface:
You may have noticed that our interface has gotten a few changes. Most of it is on the backend — the posts shown on Steemleo.com are Hive posts (posted on the Hive blockchain and using one of our tags/LeoFinance hive community tag).
The logo has also been switched to LeoFinance and we’re working on getting the domain switched to LeoFinance.io soon. When that happens, steemleo.com will redirect you to LeoFinance.io so don’t worry about missing the updated interface. It will be automatic and seamless.
Dex.Steemleo.com Exchange Interface:
LeoDex interfaces with the Steem-Engine backend which has been having a great deal of service outages and issues. Some are because of Steem nodes and others are because of Steem-Engine-specific outages.
Again, this is an interface to Steem-Engine. It can also be converted into an interface to Hive-Engine and could even serve as an interface for HMTs. We’ll adapt as the tides change and maybe even offer separate versions of the interface for each of these backends simultaneously.
LeoDex Gateway for STEEM-STEEMP:
The gateway for converting STEEM to STEEMP and vice versa has been experiencing some issues because of the Steem nodes and Steem-Engine downtime. We’ve had to do many refunds manually, which has been time-consuming. Hopefully these issues are a thing of the past and we can keep this gateway up and running.
If/when Hive-Engine launches, we’ll also offer a HIVE-HIVEP gateway that mirrors the @leodex STEEM-STEEMP gateway (0.25% fees for depo/withdrawals). We’ll put out an update when that becomes available.
LeoShop has been experiencing a lot of issues as well. Partly due to the coding itself and partly due to the Steem blockchain. Moving LeoShop to the Hive blockchain is on our to-do list after the primary blogging (Steemleo.com) interface and the LeoDex (https://dex.steemleo.com).
LeoPedia goes hand-in-hand with the marketing of our community. It has the potential to bring in a lot of users now and in the future by building a database of relevant, evergreen content that teaches people everything from the basic concepts to the more advanced concepts about crypto & finance.
We want to expand the coverage of LeoPedia bu increasing the width and depth of the content that is uploaded there. If you would like to contribute, just drop a message in #general on the LEO discord server and I’ll shoot you a DM.
My goal is to create a small team of users at first who each have an assigned topic that they are passionate about. They each work separately to create their database of content around that subject and upload it to LeoPedia. i.e. one user might write about options trading, another could write about Ethereum protocols and dApps, another could write about MakerDAO and how it works, etc. etc. etc.
There are plenty of topics that can be covered and I know there are a lot of people in this community who are both knowledgable and passionate about sharing that knowledge. As the dust settles on this Hive migration, I’ll work on expanding this effort to build LeoPedia. In the meantime, please feel free to drop a message to me personally or in #general on the LEO discord so we can start setting everything up.
Marketing — Twitter, Medium, YouTube, Podcasts…
Since the Justin/Tron saga began, I realized that this was both an opportunity to help spread the accurate narrative about Steem/Hive and also an opportunity to bring awareness to the
Steemleo LeoFinance Community itself since there are a lot of eyeballs on this situation.
We’ve been making a push on our Twitter, Medium, LinkedIn, YouTube and Podcast platforms to spread awareness for Hive and for LeoFinance. This has resulted in a lot of great attention both inside and outside of the Hive community.
I put out the first marketing update not too long ago and explored the growth of LeoFinance on Twitter and how it had a direct correlation to the Ad revenue that we brought in for the purpose of burning LEO.
The marketing has become and will continue to be one of the primary focus points for LeoFinance as our goal from the beginning has been to onboard users to
Steem Hive and to our community. We’re focused on spreading awareness to influencers and users in the crypto & finance space.
LeoFinance Community on the Hive Blockchain
As always, we manage the LeoFinance community on the Hive blockchain. Posting from https://steemleo.com will automatically put your post into our Hive community.
We've been manually curating all posts that are in the LeoFinance community, with slightly higher weighted votes for content that is posted natively through our interface.
You can view posts in our community on:
The best place to get real-time updates on the progress of these things is in our Discord server. I’m doing my best to keep everyone informed as we work on the migration and updates for all of these various projects under the LeoFinance umbrella.
It’s a big undertaking and our community (both the LEO community and the broader Hive community) has been put to the test with this whole situation. Many have said that we will come out of this stronger than we went in and I am in full agreement with them.