The team has been very head down this month on both LeoDex and INLEO Development. For INLEO development, we've been focused solely on bug fixes, stability improvements and overall user experience upgrades. I announced earlier this month that there would be no new features in April - just bug fixes.
Our goal is to create an incredibly stable experience on INLEO and we've rolled out so many features to the platform in the past 6 months. It's time to clean up the technical debt and get everything to where we all want it to be. My goal for the team is that any user coming to the UI finds it to be a smooth, bug-free and enjoyable experience. We'll be spending the month of May further improving the User Experience.
For LeoDex, we've been running at a full sprint for the past 4 weeks now to build this incredible multi-chain DEX App. The impacts of the app - when it is fully built out - are truly astonishing. If you imagine any level of adoption, we could see value capture on levels we've never experienced before for the LEO Token.
HIVE Aggregator
Let's start by talking about HAT - Hive Aggregation Technology.
HAT allows any HIVE-based assets to trade on LeoDex. We've started by enabling HIVE Outbound swaps as the 1st route.
This route allows you to swap HIVE into any asset on Maya. We've spent the last 10 days battle-testing this feature and as of now, it is working very smoothly.
The next steps for HAT:
- Activate HIVE Inbound Swaps
- Improve the UI for HAT Swaps
- Add SPS
- Add DEC
- Add HBD
This is the roadmap for HAT on LeoDex. Our goal is to fulfill this roadmap by the end of next week (7 days from today).
HIVE Inbound Swaps are now enabled in our testing environment and we're inviting a handful of people to test it before we push it live to the product LeoDex app.
Native Assets and the Value of HIVE on DEXes
It's no secret that a goal of mine for years has been to bring HIVE to decentralized exchanges. I have been a fervent believer in the essential rise of DEXes in the crypto space.
The STEEM Hostile Takeover event solidified my belief in this. If any crypto project can get attacked by an exchange having too much control, then we must battle to take that control away from CEXes.
Giving more control to CEXes over your token is f*cking nuts to me. I see it happening and it blows my mind. We need to see more volume, use cases and listings in the DEX world if we want to see HIVE truly thrive.
Cross-chain DEXes like Thorchain and Maya are something that I have been deeply involved in since the beginning. I started investing in Thorchain when it was a baby project with no real usable application.
Today, it is doing $10B per month in fully decentralized trading volume. It is coming to eat the lunch of CEXes and I am really happy with that. Maya Protocol has emerged as another friendly teammate for Thorchain in this battle against the CEXes.
Maya Protocol listed the LEO token and we now have one of the top 12 largest liquidity pools for LEO:CACAO available on Maya.
This listing allows the Hive Aggregation Technology (HAT) we built to function. It allows you to swap native HIVE with any native L1 asset.
Want to buy HIVE with USDC? You can do that now.
Want to sell HIVE with USDC? You can do that now.
Want to trade it with BTC, ETH, DASH, RUNE, CACAO and over 20 other cryptocurrencies? You can do all of that now too.
The future is here and now it's time to refine our technology and scale up.
XDeFi Integration
XDeFi is one of the most anticipated adds to LeoDex (even though LeoDex has only been live for about 10 days).
Right now, you can only sign in with Keystore on the production app for LeoDex. In the testing environment, we just released XDeFi.
Again, we invited a small group to test this integration before we push it live. This is extremely important as we want to make it bulletproof before putting it into the hands of the broader public.
I believe that HIVE Inbound Swaps + the addition of XDeFi are what will kickstart the onslaught of volume that is about to come to LeoDex. Right now, we are already the #5th largest DEX Interface on Maya in terms of Swap Count per month.
AND it's only been 10 days. AND we are in early open beta, missing a lot of core features.
We're just getting started.
The Next Few Days
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.
If you haven't used LeoDex yet, I highly encourage you get familiar with it. If you do - please use small amounts and take your time getting used to it.
- We are in Open Beta
- These are likely new concepts to you
Be careful and have fun learning something new. Cross-chain DEXes are not going anywhere. In fact, I fully expect their volume to flip Centralized Exchange volume inside of the next 3-5 years.