This week I published a post about LeoDeX. I shared all the steps required to get started with LeoDex. It may sound a bit complicated to use LeoDex but its not if you follow the required steps but I think its good to get familiar with this environment first. When it comes to crypto it is always a good idea to get familiar with things and in the beginning, it is always recommended to transact with a smaller amount. I mean there is no harm we taking our time to get familiar with all this new stuff and once we are familiar then no matter what amount we use for the transaction, I do not think it is going to problem. Working on a decent lies exchange is different from the UI we get on centralised exchanges.
Keystore is supported currently
LeoDeX is a multi-chain SWAP interface and its pretty easy to use. Currently, we can access Leo decks using the keystore but now the inleo team is working on XDefi wallet extension integration. A lot is going on with this protocol and the team is working hard to add all these functionalities and adding more options for easy accessibility. Keystore is also easy to use and I have performed many transactions without any problem but for some people, it may sound a bit complicated. Creating a keystore wallet is super easy and does not even take a minute.
XDeFi Integration
The team has announced already that they are working on XDeFi wallet integration and this should be done soon. This is already planned and even we can see the option to use meta masks which I believe should be added soon as well once the Xdefi is live. I don't use xdefi wallet but now I have installed the extension and created a wallet as well to try once the integration is live. Xdefi is called a better wallet than metamask in terms of functionalities and why not try this this new wallet as well? Even I never tried Keystore before but I like it however its a basic way to access and with xdefi there would be many more features. You can check out the website https://www.xdefi.io/ for more details and also install if you like.
HIVE Swaps coming shortly
HIVE swaps are not enabled yet but work is in progress and soon this should also be available. The transaction fee for this swap is going to be very low which we can also call negligible since you can see on the below snapshot that it is just two cents. A low transaction fee is a key and I believe that this kind of fee that we can use on HIVE swap will increase the number of people moving away from centralised exchanges.
This is going to be the biggest move and it will be helpful for all of us at Hive as once its live then we will not be required to use centralised exchanges anymore.
After a day or two of further testing, we plan to push HIVE Inbound Swaps + XDeFi Sign-Ins. We'll make an announcement when those are fully live for public use.
This is going to be live soon as the update has been shared about and this should not be taking too long. We are pretty much close to getting this done and maybe just after the weekend, we should be getting an announcement so I'm excited and looking forward to this as soon as possible. You can refer this post for more details
Decentralisation is the future and now when we talk About self custody of Crypto then a decentralised exchange is the requirement because if we go with centralised exchange then self custody is not possible. We believe that self-custody is the best way to keep our crypto safe and secure because we can't rely on decentralised protocols and we have seen in the past how these exchanges play with our funds. It's like not our key and not our crypto and this is completely applicable to the theme of decentralisation.
LeoDex Url- https://leodex.io/
Thank you