Leodex is the DeX (decentralized exchange) built by the Inleo team and its on the Maya chain. Maya is the fork of thorchain but it's a popular network. With the Leodex protocol, the Leo team has been trying to create an alternate solution for the hive community where trades can be performed in a decentralised exchange and there is no need to visit CeX. We know how things have been with centralised exchanges and there is no surety when an exchange does something that is not good for the community. With centralised exchange, we don't get the self-custody but with decentralized exchanges, this is provided by default. It's high time when we need to prioritise self-custody as it helps to keep our funds safe.
LeoDex Dynamic Island
LeoDex is a multi-chain swap protocol, and it has Hive and Leo coins listed. Even the stablecoin HBD is also listed, and the Leo team has done great work on the coins listing. Now they are trying to make it better, scalable and even loaded with more features to offer a nice user experience. Now Ledex offers the option to connect with wallets like Metamask and XDefi while we have the keystone option to be used. This sounds a bit difficult but in reality its super easy to use and I like using it.
Recently they have deployed a feature like dynamic island on Leodex and it looks nice. Multiple options can be checked using this feature.
The first option is deployment status which can be tracked easily and currently its 40%.
Leodex supports multiple networks and because of this, it's quite important to see the network status before initiating a trade. As you can see in the below snapshot all networks are online so we can go ahead and start a trade and I like this option. Its like a dashboard that we can use to see the status of all networks in a glimpse.
One new option called volume airdrop is also visible on the page but it is not enabled yet hence I am not sure how is it going to work. But looks like the team behind Leodex is trying to add a bunch of features even through this innovative option which looks quite interesting and easy to use.
Balance Check
As I have already mentioned I use Keystore to use Leodex and I find it easy to use. There is an option to check the balance for all coins I hold, and I can also refresh if the balance is not updated. The option to disconnect the wallet is also provided on the same window. The placement of these buttons is good which makes it easy to navigate and use.
I'm sure that there must be a lot on the way to be implemented on LeoDex because the way the team has been working will bring a lot to the table. I did not face any issues with the speed, and it works well even when there are many swaps involved in a single swap transaction.
Looking at the broader picture, I can say that this is all good for Hive and leo tokens. We will see many features getting added to leodex over the period and even now when its just a few months then also it works great. This time the crypto market is down and can be a good opportunity to buy more Leo and Hive but it's not financial advice from my end. I have already converted some of my HBD balance to Hive but this option is not there in leodex. We can do it easily through the internal market. Overall, I believe that things are going to be exciting at the hive and we need to have the patience to experience and witness it all in future.
Snapshots are from leodex.io
Thank you
Posted Using InLeo Alpha