LeoFinance is democratizing financial knowledge and access to opportunities by building on Web3
The early 90s internet showed the world that something enormous was emerging. Well, it showed part of the world that something big was brewing... in reality, most people thought of the internet as a passing fad. Like beanie babies.
Web2 came about a decade ago with the advent of social media platforms. We began seeing the internet turn from being "digital yellow pages" - where companies had static websites - to becoming a peer-to-peer landscape where companies like Facebook enabled us to engage with each other on social media.
Web3 is something in a whole category of its own. It bridges the gap between Web1, Web2, blockchain, crypto, decentralized ideals. It creates an entirely new landscape where incredible tools, platforms and economies are being built.
Our vision of Web3 is centered around the democratization of financial access and opportunities.
Building a wide array of applications, tools and opportunities for our users, we're actively on the bleeding edge of Web3 and testing the bounds of what's possible. The definition of Web3 is dynamic. It is not static like that of Web1 or even Web2.
Instead, a state of constant evolution must be pursued. You can see this if you follow the history of LeoFinance as we emerged from a simple blogging layer and expanded into a true Web3 ecosystem with opportunities for our users that now encompasses everything from Tokenized Social Media to DeFi.
Layer 1 in crypto refers to the first-layer blockchains that seed the foundation for many other developments. Bitcoin is Layer 1. Ethereum is Layer 1. Hive is Layer 1.
Many have taken this idea and applied it to community and importantly: network effects. Layer 0 has been coined as the community layer. The people who ardently follow the network and actively seek to grow that network because of their aligned incentives.
LeoFinance's Community has been built from the ground up since 2019. We started with nothing, then launched a MVP (minimum viable product) in the form of a Proof of Brain Rewards Token and barebones User Interface that we forked from the Steemit Condenser project.
After our initial launch, we started to gain some momentum. LeoFinance found itself some true Layer 0 Heroes. People like Taskmaster4450, Scaredycatguide, Abh12345, Gerber, NealMcSpadden and many, many more who were here at the beginning and worked hard to help build LeoFinance into what it is today.
One of the core beliefs of LeoFinance is that all value stems from the Layer 0. That is, The Community of hardcore believers is what matters most in our ecosystem. By focusing on community, we are building the bedrock of the future. Without community, applications are useless. Tools are useless, projects are worthless. Tokenomics don't matter.
Community is everything and that is why we relentlessly focus on our mission statement:
Democratize Financial Knowledge and Opportunities for Our Users.
Network effects and mass adoption have been the subject of intense macro investor curiosity. Many people who have invested in things like Amazon, Tesla, Web1 companies, Bitcoin etc. have studied the impacts of Network Effects and they have tried (and some succeeded) to create models to help them make informed decisions about what to invest in, where the cycle is and where mass adoption might take hold.
Distributed ownership is changing the entire landscape of the internet. With companies like Facebook, the company got rich from user interactions and the massive library of content that is continually built by the people who believe they are the customer of Facebook and other large social media corporations.
What many didn't realize - but realize now - is that Facebook and these other corporations built their profits on the blood, sweat and tears of their users. The users are not the customers... They are the product. The users are not buying things from Facebook to generate money for Facebook.
Instead, the users are the product of Facebook's Ad business. User Demographics, User Data, User Generate Content (UGC) and all the other various ways that users wittingly or unwittingly provide value to Facebook are how Facebook became a trillion dollar business in less than 2 decades.
Distributed Ownership turns this model on its head. Instead of Facebook getting rich on the back of UGC, User's take ownership of the platform through Tokenization. We've accomplished this with our LEO token - where users can buy and stake the token to gain more influence on the platform and own their share of the Web3 Revolution.
LeoFinance is a distributed platform. Made up of our Layer 0 community, LEO tokenomics and applications that create a fun and engaging User Experience.
What exactly does this mean? It means that every piece of User-Generated Content: whether it's a post, comment or "like" (Upvote) is published onto a blockchain database that is controlled by a decentralized group of node operators living and operating from all over the world.
LeoFinance does not run this blockchain. We are built as a Layer 2 application on top of this Layer 1 blockchain called Hive, which enables us to instantaneously deploy content and resources on-chain.
By having our content and token live on a blockchain, we're able to do some incredible things. All UGC on LeoFinance is eligible to earn LEO token rewards. The LEO token is a digital asset that is distributed to content creators and content curators on a daily basis and in a decentralized manner.
Web3 is about decentralizing and democratizing the access that retail investors and average users have to the amazing opportunities of the new age of the internet.
Even in a place like America, retail investors are limited in what they have access to from an investment perspective. They're not allowed to participate in VC investing, for example, unless they're an accredited investor.
Web3 democratizes access to opportunities like this via Smart Contracts that live on various blockchains like Ethereum.
LeoFinance isn't just a social media community. Our Layer 0 lives on a social blockchain where we engage with each other on-chain every single day. From there, we have other layers of opportunities and access that our community taps into on a daily basis.
LeoFinance is a Web3 community in the truest sense of the word. By building, educating our users and providing access to the broader crypto industry, we're democratizing their financial knowledge and opportunity.
Through the advent of Smart Contracts, many applications and communities are able to do incredible things at-scale and provide opportunities that were never possible before. LeoFinance utilizes dozens of Smart Contracts to conduct a wide variety of operations which enable us to bring opportunities to our Users on a scale that was hitherto undreamt of.