In this video (and written) guide, we'll walk you through the steps of wrapping LEO. It's a deceptively simple process. While it may sound complicated, there are only 3 real steps when it comes to wrapping LEO from Hive into wLEO on Ethereum.
Step 1). Go to https://wleo.io and enter your Ethereum address in the "LEO to WLEO" field
Step 2). Hit Submit, Then Enter the Amount of LEO You Want to Wrap
We recommend wrapping at least 250 LEO (~$30+) because of gas fees. Depending on when you send your wrapping transaction, the gas fees could be anywhere from $0.40 - $5. This gas fee is a flat fee, so sending more LEO to wrap won't scale up this portion of the fee to wrap.
Step 3). After Confirming Your Amount, You'll Be Prompted to Confirm Your Transfer of LEO Tokens to the @wrapped-leo Hive Account:
If you have Hive Keychain installed on your browser, then it will default to opening a Keychain transfer prompt. If you don't have Hive Keychain, then it will prompt a HiveSigner operation to send your LEO to @wrapped-leo with your ETH address in the memo field.
Step 4). (Optional) Add the WLEO Token Contract Address to Metamask to Track Your WLEO Balance:
Open Metamask, Then Hit "Add Token"
Copy the WLEO Contract Address Into the "Custom Token" Section (it will autofill the Token Symbol and Decimal Precision:
Use Your New Wrapped LEO!
Whether you find your new token balance in Metamask or in Etherscan, Uniswap or elsewhere, you'll see your WLEO balance update typically within 1-5 minutes of your LEO transfer on Hive.
If you don't see your balance in any of these places, then check for your Hive-based transaction on https://hiveblocks.com/@wrapped-leo. If your TX didn't go through (for an unforseen error - usually due to the send amount being too low), then you'll see a refund transfer back from @wrapped-leo to your Hive account with a reason specified in the memo.
That's a Wrap!
Wrapping LEO is a very simply process. You're just taking LEO that you have on the Hive blockchain and sending it to @wrapped-leo with your ETH address in the memo field. The https://wleo.io site faciliates this process by providing a front-end for the transfer, but you could do this from any site that allows you to send LEO to @wrapped-leo with a specified memo (like LeoDex, LeoFinance or Hive-Engine).
Once you have wLEO on Ethereum, it's up to you what to do with it:
- Become a Liquidity Provider
- Swap WLEO for ETH
- HODL and Wait for a Price Increase
- Use on Other ETH DeFi Protocols (coming soon)
Becoming a liquidity provider means that you combine your WLEO with an equivalent amount of Ethereum (in dollar terms) and then deposit both tokens simultaneously into the Liquidity Pool on Uniswap - this allows you to earn ~18%+ APR from fees in the liquidity pool on Uniswap (depending on the daily trading volume).
In addition, we have an LP incentives program where 300,000 LEO will be airdropped to LP's over the next 90 days. The balances are updated daily to reflect LEO earnings and then are distributed either to your Hive address (if it's linked) or to your ETH address as WLEO. Read here for more details about the incentives program.
Join Our Hive Community & Earn LEO Rewards!
Earn LEO + HIVE rewards by creating crypto/finance-related content in our PeakD community or directly from our hive-based interface at leofinance.io or LeoFinance Beta
| Track Hive Data | New Interface! | About Us |
|---|---|---|
| Hivestats | LeoFinance Beta | Learn More |
 |  |  |
| Trade Hive Tokens | Wrapped LEO | Hive Witness |
|---|---|---|
| LeoDex | Trade on Uniswap | Vote |
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▶️ 3Speak
Posted Using LeoFinance Beta
This post was archived on the new wLEO Explore Page
I have no doubt that this class will help many users. Congratulations to the LEO team who are always dedicated to spreading knowledge to the entire community.
Being honest, I am not used to using anything that has the ETH platform. Recently out of curiosity I created my Metamask account, which has nothing because Gas makes us want to get away from Ethereum a little.But seeing this new era for LEO with the wLEO, I hope that not only me but many who are not aware of this platform can venture out and what you do is commendable.
Keep up the great work @khaleelkazi and team, because the LEO journey is just beginning ...
I will save your post here, because as you know I am not good at English unfortunately but I will absorb everything calmly.
Posted Using LeoFinance Beta
It took me a lot of time, spread over two days to wrap my leo and add to the wleo-weth pool. Perhaps I should have been patient and have waited for this video ;<)
Then again, trying to use my ether from a Ledger Nano X appeared to be the biggest hurdle. Eventually I gave up and moved my Ether to my Exodus wallet. From there it worked fine although the Gas seemed to double.
Thanks for all the hard work you've been doing and for adding excitement to the Hive Blockchain once again,
Vincent
Posted Using LeoFinance
Keep up the good work Team LEO
Quite a timely post. The process is simpler than I thought. We just need to worry about ETH gas fees.
Why don't we use EOS blockchain? Little or no fees needed for transactions
Posted Using LeoFinance Beta
Thank you very much for this tutorial, wLeo is an amazing asset and knowing how to use it as an entry point for the DeFi environment is really, relly useful.
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Very interesting, I want to learn more about what WLEO is and how it is connected to HIVE. I am not familiar with Eth DeFi Protocols, I will have to look into it some more. Thanks for the tutorial and the great work @khaleelkazi.
Is the code for this bridge open source or the developer available for bridge building?
Posted Using LeoFinance Beta