Five Reasons why we should use LeoDex at Hive

In the crypto world, decentralization is foremost. We have so many crypto exchanges but the majority of them are centralized which means we have to follow the KYC process and all this remains under the control of an entity that manages the exchange. Now when we are talking about web3 and DeFi then its not good to stick with centralized exchanges. Its time to make a move and switch to decentralized exchanges (DeX).

The Inleo team has launched LeoDex which is the decentralised multiple-chain swap protocol built on the Maya chain. Maya is a popular protocol and its the fork of thorchain. Thorchain is a well-known name in the crypto market and we have seen how fantastic RUNE has performed. Maya is a great blockchain network that keeps on building a lot of functions and they are also the ones bringing multi-chain swaps. Its easy and good because now we can swap coins across the chain. For example, now we can swap Leo or Hive with layer 1 coins and that is great and gives more exposure to the hive community.

5 Reasons for using LeoDex

• Its easy to use and we can perform the swap/trade just by connecting the wallet/keystore. We also can connect metamask and xdefi now hence this process is easy and convenient. No need to use login credentials as we follow with centralised exchnages.

• Leodex is decentralised hence we need not go through the kyc process. A decentralised world means no one can identify us through our identity documents and this is what LeoDex has followed. Its like just connecting the wallet and doing whatever you want. You can trade or provide liquidity which is a good option to earn rewards by providing liquidity.

• Self-custody is another part that we can not ignore. We don't need to deposit the coins as we need to do with centralise exchanges. Just keep control of funds with us and in this scenario, we need to share the key. If we own the key then we own crypto. Its simple but very important.

• Layer 1 Swap is now possible with latex. Earlier we did not have this option but now with leodex its possible and we can swap leo and Hive with Layer 1 coins. Its a big option that has been given to us through leodex and I am expecting that this is going to bring more value to the hive ecosystem

• Soon we are going to have HBD added to leodex and this will make things even better. This has already been shared by the inleo team and they are working on it I am anticipating that this addition should happen soon. Although we already have USDC with HBD addition things are going to be even better.

There are many reasons why we need to start using leodex but I tried to take about five important points. I have tested leodex and also used it for a lot of swaps. My experience has been very good and its quite easy to use. While we have the option to swap Hive and leo with layer 1 coins I expect things would become much better, valuable and user-friendly over the period. Leodex volume is growing and it shows that more people started using it and there will be a day when this trading volume will spike significantly.

Thank you

Posted Using InLeo Alpha