I am not a tech savvy guy. Coding, intricacies of cryptocurrency, uniswap liqudity pool... etc is not my forte. I am a geologist and a trader and that's the way I got into Hive a few years back. But here I have found friendship, I have found a sense of community. I won't give that up for anything. So over the years, my stake in hive kept on increasing and so is my involvement with multiple projects and communities. I got into the second layer project tokens later than most people. This is simply because I have a day job (still!) and a relatively young family. Therefore, I find very little time after doing all the things life thorws at me. Still, most people who knows me can tell that I still spent an inordinate amount of time on anything and everything related to hive.
Above image is shown around a lot today, but I am just having it here for my record. Last night I was having a short conversation with Khal and I have been thinking about getting more involved into the project. At the time the liquidity inside the pool was above $400K. Now, all that liquidity is gone (first by the hack and then on purpose, by the team). My plan was and is very simple:
I am writing in leofinance, as I write a lot of financial/economic theory related items
I am trying to build a position in Leo, I don't have much, so I recently bought about 4000 LEOM, which is giving me some Leo everyday
Believe it or not, only yesterday afternoon I got into the wLeo pool on uniswap! Imagine the glorious timing, eh!
Don't worry, since I am old and slow; I didn't have a meaningful position, so I didn't really loose any meaningful money. Honestly, speaking the learning from this event highly outweighs the financial loss.
I decided to stay active within the Leofinance community. I will support the project in any ways I can. Be it buying Leo from the open market, writing for leofinance, or getting back into the uniswap liquidity pool as soon as the team figures out whatever that happened yesterday.
I was writing a note after I read something at a Harvard Business review article:
The potential gain greatly outweighs the cost of the mistake.
Whatever, mistakes or flaws that were in the smart contract or any other point of weakness, this event helps the team analyze it and the next effort will be much better and stronger than the first.
Right now there are a lot of opinions and speculations that is out there. It is hard to understand the details on what exactly has happened and how. However, as time goes on, more details will immerge I am sure.
I just finished reading the post annoucing the issue...
@leofinance/wleo-was-hacked-on-ethereum-or-thank-you-everyone-for-the-amazing-support
I felt the post is factual and nicely written for a team of people under some stress. I just want to say that I am supportive and looking forward to participate whatever new innovation the team brings forward to us.
The chart and the order book at Hive-Engine is looking healthy already! Not to mention the highest volume in recent times! The low is nicely bought already. That only shows the interest and support for the leofinance community.
