LeoDex v3 Was Just Released

It's been a while since the new version of LeoDex has been teased, but on Friday was the "launch party" where Khal walked the participants through the new interface before it went live.

A few hours ago Inleo published an official announcement too.

I took a look at the new interface too, but without any transaction yet.

Something that seems like a good idea to be mentioned here is that DEX transactions are likely to be cheaper than CEX transactions for big transactions, but unlikely for small ones. The reason why this usually happens is that CEXes take a pretty high percentage-based fee on transactions, but don't take network fees, since transactions happen on their internal ledgers until they make some settling at the network level, probably once a day (funnily, often using DEXes to do it).

DEXes usually take a lower percentage-based fee on transactions, but users also have the network fee to pay, which in some cases is pretty high. If there is also slippage due to low liquidity (which you won't have on the main CEXes), that can amount to a pretty hefty amount to pay on transaction.

For small transactions this often is a lot, but for bigger transactions it can happen that DEXes are cheaper than CEXes if they take a lower percentage-based fee and the slippage is minimal.

Let's get back to LeoDex v3. The previous version only had Maya Protocol integrated, and among the wallets, I think there were Keystore, Metamask, CTRL, and Keychain. I only used Keystore and Keychain among the 4, so I'm not sure if the other 2 were fully implemented in v2 or not.

Either way, in v3, LeoDex also integrated Thorchain, Chainflip, and Rango, and 8 more wallets. Among the wallets, some are currently disabled, including Keychain, and Khal said they will slowly be (re-)enabled, probably as more testing is done with the new version.

LeoDex v3 shows the user if there are multiple routes to make a swap, and indicates which are the best routes from the price and the time perspectives.

I also like that LeoDex v3 allows users to connect with 2 wallets at the same time, which can be useful even in a case where you'd want to swap funds from one wallet to another (for example, from a Metamask wallet to your Keystore). Of course, you have to be mindful about the fees, especially if you want to make small transactions...

Something else I find useful and wasn't great from the UX point of view in the previous version is showing the USD value of each of your holdings in your wallet, when you hover over them.

The fees generated by LeoDex will be used to buy LEO, and it seems LEO stakeholders will decide what would happen to those.

Among the new things coming next, we can find a volume-based airdrop of LEO tokens to LeoDex swappers, and an affiliate program.

P.S. I powered up 150 LEO on LPUD.

Posted Using INLEO