Threadcast link:
/@khaleelkazi/re-leothreads-2d9nk4ypq?referral=khaleelkazi
Link to recording:
https://x.com/khalkaz/status/1902028860171944150
Speakers
DISCLAIMER: The following has been generated by AI based on the publicly available recording of the livestream. Because the content is AI generated it may contain errors, so please keep that in mind when reading. Feel free to suggest corrections and/or add additional information/improvements in the comments. Read more: Introduction post for the AI Summaries project
Driving Growth and Innovation on Hive with InLeo and LeoDex
In this week's AMA, the InLeo team provided an in-depth update on the latest developments across their ecosystem, with a particular focus on the rapidly growing LeoDex decentralized exchange.
Expanding the InLeo Ecosystem
The InLeo team shared that they are continuing to push forward with their Decentralized Hive Fund (DHF) proposal, which is currently sitting at around 96% of the required funding. The team has been working to build new partnerships and integrations to expand InLeo's reach, including collaborations with the Solana, Litecoin, Arbitrum, and Chainlink ecosystems.
The goal is to allow users from these other blockchain networks to easily sign up and earn rewards on the InLeo platform. To facilitate this, InLeo has open-sourced its onboarding APIs, allowing other Hive-based UIs to integrate features like key store sign-ups and logins. This aligns with InLeo's vision of becoming more of a provider of innovative tools and technologies for the broader Hive ecosystem.
Explosive Growth on LeoDex
The main highlight of the episode was the team's update on the incredible growth being seen on the LeoDex decentralized exchange. Over the past three days, LeoDex has seen its daily trading volume skyrocket, reaching a new high of $920,000 in a single day.
This volume is currently dominated by the Maya protocol, which is the smallest of the four decentralized protocols integrated on LeoDex. However, the team is preparing to add integrations for ThorChain, ChainFlip, and Rango in the near future. Given that these protocols have significantly higher trading volumes than Maya, the team is extremely bullish on LeoDex's potential to scale.
The team attributes LeoDex's success to its superior pricing and user experience compared to other DeFi interfaces. By leveraging the technology and expertise gained from building InLeo, the LeoDex team has been able to create a more efficient and user-friendly trading experience.
Roadmap and Goals for LeoDex
Looking ahead, the InLeo team has set an ambitious goal of reaching $4.4 million in monthly trading volume on LeoDex over the next 50 days. If achieved, this would translate to around $40,000 per month in affiliate fee revenue, which would be used to continuously buy back and burn the LEO token.
The team believes that this level of trading volume, combined with a conservative 20x revenue multiple, could potentially drive the LEO token price to around $0.40 - a 30-40x increase from current levels. This would be achieved independently of the broader crypto market conditions, as LeoDex's revenue-driven model provides a degree of insulation.
To reach these targets, the InLeo team is working tirelessly to roll out a series of updates and integrations on LeoDex, including support for additional wallets and decentralized protocols. They are also encouraging the Hive community to help drive adoption by reaching out to other Hive-based applications and encouraging them to integrate the open-sourced onboarding APIs.
Overall, this episode showcased the InLeo team's relentless focus on innovation and growth, both within their own platforms and across the broader Hive ecosystem. With the explosive traction on LeoDex and a clear roadmap ahead, the future looks bright for the InLeo project and the LEO token.