The WLEO Geyser was the first DeFi product that LeoFinance put out into the world. In case you don't know about it, it is a model for paying out Liquidity Provides in the Wrapped LEO (WLEO) - Ethereum pool on the Ethereum blockchain.
The WLEO pool is the deepest liquidity pair that we have for the LEO token and so, it is one of the most vital aspects to a healthy LEO Token Economy.
Over the last 9-10 months, we've been trying to automate the WLEO Geyser. If you saw a post we put out about 2 weeks ago, you will have seen that the model was finally deployed.
It took 3 different developers and 9-10 months to achieve this. The task proved arduous and the devs who originally started on it no longer wanted to keep going once tests were failing and issues were arising.
Despite that, LeoFinance is a hard-charging org. We replaced those devs and found someone who was both capable and eager to help us make the Geyser work again.
Now, we've deployed a fully automated and sustainable model for the Geyser.
We also know that sentiment for the LPs took a hit since the Geyser was basically down for 9 months. The payout that they received two weeks ago included all of the backpay rewards for that time.
In the future, we're offering something that we hope will help with trust around Geyser payouts. If the Geyser does not deploy as expected on the ~15th (remember that it is give or take about 1 day because block times are not the same as "people time"), we will send a 20% bonus payout on the following Geyser.
We're that confident in this automated model. If it doesn't pay when it's supposed to pay each month, then we'll add 20% on top of the next payout.
We talk about all of this and more related to the Geyser in this clip from the AMA!
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
Our Hive Applications
Join Web3: https://leofinance.io/
Microblog on Hive: https://leofinance.io/threads
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
BSC HBD (bHBD): https://wleo.io/hbd-bsc/
BSC HIVE (bHIVE): https://wleo.io/hive-bsc/
Earn 50%+ APR on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io
Great work you're doing sir!!