Hey everyone! The LeoTeam has been hard at work. On Friday, we held a Launch Party Livestream.
In this stream, we unveiled the all-new https://leodex.io - which is now live in production!
LeoDex V3 is basically a complete rewrite of the entire LeoDex application. Originally, only Maya Protocol was supported.
Now, LeoDex supports Maya Protocol, Thorchain, ChainFlip and Rango. This has introduced over 100 assets and dozens of blockchains to the list of what LeoDex supports.
We also added a dozen new wallet options. Here's a full list of what LeoDex now supports:
Supported Protocols, Wallets, Assets and Blockchains
Protocols
- Thorchain- Maya Protocol- ChainFlip- Rango (Aggregator)Wallets
- CTRL
- Coinbase
- Trust Wallet
- Metamask
- Talisman
- Keystore
- Ledger (Soon)
- Vultisig (Soon)
Assets
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Thorchain (RUNE)
- USDT
- USDC
- Binance USD (BUSD)
- Binance Bitcoin (BTCB)
- DAI
- CACAO
- ChainFlip (FLIP)
- ChainLink (LINK)
- Dash (DASH)
- Wrapped Bitcoin (WBTC)
- Coinbase Bitcoin (CBBTC)
- Base USDC (USDBC)
- Bitcoin Cash (BCH)
- Tron (TRX)
- Avalanche (AVAX)
- Matic (MATIC)
- ... and many more!
Blockchains
- Arbitrum
- Avalanche
- Base
- Bitcoin Cash
- Binance
- Bitcoin
- Cosmos
- Dash
- Doge
- Polkadot
- Ethereum
- Fantom
- Gaia
- Iota
- Kujira
- Linea
- Litecoin
- Mayachain
- Oktchain
- Optimism
- Polygon (Matic)
- Solana
- Thorchain
- Tonchain
- Tron
- Radix
How to Use LeoDex V3 to Swap Native BTC <> ETH and Hundreds of Other L1 Assets. Permissionless, Decentralized, Self-Custodial
Go to LeoDex and hit "Connect Wallet" in the top right. You'll see our new wallet connect page
From here, choose your favorite wallet. You'll notice "Detected Wallets" will show any browser extension wallets you may have already installed. This makes it really easy to choose your favorite wallet. For this tutorial, I'll connect with CTRL.
Now that you're signed in with your wallet, use the token selector to select an input asset and an output asset for your swap. When you click on the asset selector, you'll notice that the default sorting is based on the USD value of assets in your wallet. This should make it quite easy to find what you are looking for. If you can't, use the search method or the "Networks" section on the left.
Swapping ETH -> BTC. For this swap, I am doing Ethereum to Bitcoin via Thorchain. You'll notice that after I put ETH & BTC in the top and bottom, the "Routes" section on the right populated with some options for me.
In V3, you can now choose to route your swap between any available routes detected on CrossChain Decentralized platforms. The routes will depend on which protocols support which assets. ETH -> BTC is the most supported route, so it can be swapped on any of the 4 new protocol integrations:
- Thorchain
- Maya
- ChainFlip
- Rango
On the right, you'll also see labels for "Faster" and "Best Price". These labels are quick indicators of which route is the fastest swap and which route gets you the best price. There are a lot of factors that go into formulating the fastest and cheapest routes. You can look at the bottom right of each individual route to see the estimated fee and the estimated time (in minutes) for each swap.
For example, I put 65 ETH (about $105,000 USD) in the top and the estimated output is 1.24 BTC. The fees on this are just 0.6% of my total swap.
If you know anything about swap pricing, this is pretty amazing. It will take only 13 minutes to complete this swap using ChainFlip.
Once satisfied, I'll click "Continue with this route" in at the top right.
After doing that (I changed the amount to a smaller swap amount for this test), you'll see the breakdown of all the fees and rates + duration information. At the bottom right, I can also change the recipient address (in case I want to swap to go to a different Bitcoin address - not my connected BTC wallet, for example).
In this case, everything looks good and I want the swap to go to my own BTC wallet that I currently have connected, so I click "Swap Tokens".
After clicking swap, you'll see this component pop up. It then asks me to approve the ETH TX in my CTRL wallet.
Afterwards, I see the Transaction Tracker populate on the right side of the screen:
I can either sit on this page and watch the yellow status indicator change to green (it will go from "Indexing" -> "Pending" -> "Successful") or I can click "View in Explorer" to see this transaction live on the Thorchain Block explorer (or on the ChainFlip block explorer or Maya Block explorer, depending on what kind of swap it is).
In this case, I did a ETH -> BTC swap on Thorchain via https://leodex.io. So when I click "View on Explorer", it takes me to https://Xscanner.org where I can see all the juicy details.
That's it! You just did a native L1 ETH to native L1 BTC swap via Thorchain. It was really that easy.
The Future of the LEO Token Economy, LeoDex Roadmap and More
100% of affiliate revenue from LeoDex buys the LEO token on the open market. We are currently a top 5 interface for Maya Protocol and now we are aiming to be a top 5 interface for Thorchain, ChainFlip and Rango as well.
Being a top 5 cross-chain DEX platform for all 3 of these platforms would result in LeoDex generating north of $50,000 per month in affiliate revenue. This entire amount would be buying the LEO token on the open market. The LEO stakeholders (LEO DAO) would then vote on the usage of these funds. The DAO is likely to vote to burn all of the LEO that is accumulated by our Thochain, Maya and ChainFlip affiliate addresses. This would result in a pretty dramatically positive shift in the LEO Token economics.
Our Maya Protocol affiliate address earned north of $20,000 last month. It has already started buying $LEO off the open market. Very slowly, very programatically yet with a lot of randomness (as you can see, randomness is introduced to avoid people immeidately front running the buy backs). That being said, you know that the total amount in the affiliate address will buy $LEO at some point, so it is still possible to front run the buybacks over long timeframes.
We won't get ahead of ourselves though. There is still so much work to be done. The LeoDex X Account just put out this post to talk about what we've done this week and our newest release that is coming in the next few days. We're continuing to push and innovate as a CrossChain platform for Thorchain, Maya, ChainFlip and Rango:
If you haven't tried LeoDex V3 yet, then please get out there and give it a whirl! It's an amazing experience and we are just getting started 🦁