Should @leofinance Focus on Cross Chain Bridges to Bring in Revenue?

almost 2 years ago

DeFi Protocols need revenue to become sustainable. Wrapping and unwrapping Tokens provide a significant amount of revenue for CUB and POLYCUB which are then used to buyback the Tokens from the open market (and in the case of CUB; burn the purchased Tokens). One of the advantages of being on multiple smart contract compatible chains is the ability to perform cross chain swaps. The income that would be generated will depend on the volume of transactions that happen.

We already have the same asset wrapped on multiple blockchains as in the case of HIVE, HBD and LEO. These could be used to provide cross chains swaps for users. The growth of Project Blank will expose more users to these services leading to more swaps performed.

I don't know if the cost of developing and maintaining such Bridges/Exchanges will be worth the revenue that is generated. If there are any inputs regarding this topic; make your case below.

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6 comments

@poshtoken 83

almost 2 years ago

https://twitter.com/1594784067630862344/status/1635679346508562432
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@diggndeeper.com 67

almost 2 years ago

Thank you for sharing your thoughts on the revenue model for DeFi protocols and the potential for cross-chain swaps. It's true that wrapping and unwrapping tokens can provide significant revenue for platforms like CUB and POLYCUB, and the ability to perform cross-chain swaps is a valuable feature that can increase transaction volume.

However, as you mentioned, the cost of developing and maintaining bridges/exchanges for cross-chain swaps is a crucial factor to consider. It's important to weigh the potential revenue generated against the costs and risks associated with such projects.

Another consideration is the competition in the market for cross-chain swaps. There are already several established projects offering this service, and it may be challenging to attract users and generate sufficient volume to make the project financially viable.

Overall, it's a complex issue that requires careful analysis and planning. It's essential to consider not only the potential revenue but also the costs, risks, and competition in the market before deciding to invest in such a project.

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@vimukthi 75

almost 2 years ago

There are already several established projects offering this service, and it may be challenging to attract users and generate sufficient volume to make the project financially viable.

Focusing on the areas of the market that is not already addressed such as HIVE, HBD and Layer 2 Tokens of HIVE is the best way to attract users. Project Blank is The Ultimate Marketing Funnel for LEO DAPPs. Once there is an audience, it is possible to expand into other Tokens.

Focusing on new blockchains such as Koinos is another good way to gain market share. There is very little competition on Koinos and the project itself has the potential to become a Top 10 cryptocurrency.
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@torran 60

almost 2 years ago

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@pgm-curator 55

almost 2 years ago

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