LeoFinance is hot and booming and we all want to have a piece out of it it seems. With their recent moves to Uniswap this just more popular and more popular. Until over the weekend there was a decent hack and funds got stolen. Such a bummer for such a cool project which is just taking off and working so hard to get there. Theyr deserve more.
I wrote earlier in the week about on how sceptic I am on the whole DeFi situation in this post here. Now this is not an I-told-you-so kind of move, but it is move of a comformation that where your keys are, you are not there. And that remains scary and stuff does happen
But there are differently ways on getting you LEO which do not mean you are sending your keys out so another place. Delegation is one of those. And is delegation not almost a form of lending your stake to someone else without actually loosing your funds.
So I deceided to give this a try with LEO. Delegating to them. I saw that earlier in the summer they actually had a fantastic delegation program with big returns but I didn't see that at the time. It is never to late to jump on board right?
How to delegate?
So initially I started delegating 500 HP to @leo.voter just for the experiment. In case you find this difficult to do, in https://hivetasks.com/@yourusername where you can also see all of your stats there is also a really easy delegation tool in the left side. In the outgoing tab you just enter who you want to delegate to, sign with keychain or hivesigner et voila. Your delegation is out and it took you 8 seconds.
Also regaining delegations is so damn easy with this. When you want to stop a delegation just edit the amount to 0 and it is back in a couple of days in HP in your wallet again.
To me delegating is like the light version of wrapping something on another chain, only that it doesn't leave the chain thus the returns are smaller. But the returns are surely there.
This I have received today from my 500 HP delegation to @leo.voter. It is decent enough and about the same which all the other delegation programms give you (take or leave a procent okay) but this return is in LEO. And that is perfect for the lazy people like me that do not actually want to trade all day. So I made my delegation 1000 HP just now for the good of it!
And remember, you can pull in your delegation at any time and not giving your keys away. Lower return, lower risk. Have a good one!