Over the last few months, without directly calling it this, I have discussed the idea of layering. This is a basic concept in the digital platform business model. all the successful platforms utilize it. Sadly, it is not something we see a great deal in Web 3.0.
Is LEO starting to change that?
When we look at the UI, the answer is negative. We are still struggling on that end of things. However, the recent addition of Leo to Maya could be a major step forward.
How so?
The fact that Leo is becoming a DEX (LeoDex) is a huge deal. If things unfold as some are projecting, this could be a nice addition.
It is also in keeping with layering.
Image by Ideogram
LeoDex: A Service To Market And Pull People In
The concept of layering does a couple things.
When we are dealing with digital platforms, the key is interactions. The goal of the platform is to increase the quality and quantity. This means that adding layers is essential.
What does this accomplish?
The first benefit is that it gives the users more to do. Again, the goal is interactions. As a platform adds more features, there is more for people to utilize. This goes back to the basics of websites: you do not want people leaving.
In other words, keep them there as long as possible. This can be accomplished by offering more things to do.
Essentially, we are talking about more services.
The second benefit is to appeal to a different category of users. Here is where we see layering really provide massive returns.
With Leo, we could see LeoDex being the next step in this process.
A New Category Of Users
So far, what does Leo offer?
It provides long form content along with microblogging (threads). Both of these are similar to the Web 2.0 applications. For long form, many use Medium or Substack. What makes Leo any different? Unless we are talking rewards, at this moment, there isn't much.
Then we have microblogging. Again, how is this different from X? Another way to phrase this, why would anyone use Threads over X considering all that is offered there?
We know the answer.
There is nothing unique about it. Therefore, the marketing should be to those who have a vested interest. Alas, the plan is to keep focusing outside, something that was done for years without success.
LeoDex can change this.
We are no longer discussing blogging, or even social media. Instead, we are dealing with finance. The fact that people can use this similar to other decentralized exchanges is a big move.
Here we start to see something that could really make an impact. Of course, we will have to see the creativity tied to it. There has to be innovation when it comes to the service being offered. Fortunately, with tokenization, there are some options to consider.
Ramps In And Out Of Hive
One of the biggest benefits is we are looking at a ramp that allows people to enter and exit Hive. We will have to see how this works in the future but we were told that there will be a seamless interface. Also, all activity will happen on the back end, making ease of use a priority.
Here is a built in market. It is a pain in the neck to interact with the Hive coins. LeoDex could solve this. Here we see a big need being addressed.
That is not all.
We also were shown how the DEX will allow for the swapping of BTC to ETH (as an example). This is another major step ahead as it can appeal to many people. Even those on Hive do transactions in these coins.
Many who utilize the DEX might never post a single word on chain. That is fine. After all, there are many Amazon Prime users who do not watch a single show or listen to any music. They do, however, utilize the free shipping.
Amazon is one of the companies that excels at the digital platform model. In fact, Bezos might be the best at it.
Leo is starting to do this. When the DEX is rolled out and liquidity pool filled to the point where it can handle some decent volume, then the marketing should begin.
LeoAI
Once this is fully operational, I think the next layer that Leo should address is LeoAI.
This is an important feature considering what is taking place in the world of chatbots. It is imperative that Leo make a statement by rolling this out. It would hopefully incentivize people to realize the value of data on-chain and how they can feed it.
Chatbots are quickly becoming the norm. In fact, many are predicting that AI clients are the next big thing. This is another area that Leo could start to dip its toe into the water.
Of course, when I mention Leo, I am not only referring to the project team. While they are responsible for a lot of this, things such as clients tied to Leo can be made by anyone with the skillset. Again, keep the layering concept in mind.
Anyone who does this is able to add in a similar manner as described above.
Here is how Leo, in totality, can add value.
For now, the focus is upon LeoDex. Some pieces are starting to roll out. Over the next few days, I am sure we will see more as the full DEX goes live.
Then the marketing fun can begin.