Why Hive L2 Tokens should get Listed on LeoDex

5 months ago(edited)

KEY FACT: The LeoDex has become the fastest-growing emerging multi-chain decentralized exchange (DEX) where native L1 tokens are swapped. Supporting about eight blockchains in the past few weeks is worth the attention. With the LEO token at the center of its operation, the team behind the project has proven that the DEX has the potential to boost the economy of Hive L2 assets.

Created on Corel Paint

LEODEX: Best Multi-chain DEX

LeoDex is a non-custodial decentralized exchange (DEX) that operates as a multi-chain swapping interface, primarily powered by the Maya Protocol. Users of the DEX can swap native Layer 1 (L1) crypto tokens across various blockchains without intermediaries. So far, eight blockchains are covered. Users can access LeoDex through its web app and connect their crypto wallets to execute these swaps.

The team behind the LeoDEX are the builders of InLeo, a SocialFi platform centered around the $LEO token, which serves multiple functions within the ecosystem. INLEO aims to foster a thriving creator economy by integrating digital ownership, tokenization, and community engagement. The primary goal is to enable content creators and users to earn LEO tokens through content distribution and engagement.

A significant feature of LeoDex is its integration with Hive-based tokens. The platform uses Hive Aggregation Technology (HAT), enabling users to swap Hive blockchain assets through the LEO:CACAO liquidity pool linked to the Maya Protocol. This facilitates efficient cross-chain swaps involving Hive assets Source.

The LEO token is central to the LeoDex ecosystem and serves as a utility token within the broader INLEO SocialFi ecosystem. LeoDex features various liquidity pools such as LEO:CACAO and LEO:HIVE, which create organic buying pressure and increase liquidity. The platform aims to capture a portion of the centralized exchange (CEX) trading volume, targeting a 10% market share by 2025. Several organic revenue generation initiatives are in place and in the bunker to achieve this. One such is the Premium subscription for INLEO users which costs $10 HBD. Already, around 300 users are on this subscription.

$LEO Market, Source: Hive-engine

All revenue raised on subscriptions is used to buy off $LEO in the Hive-engine market and the same is pooled against CACAO and Hive on LEODex. One may be surprised why the LEO market looks bullish and stable amid a steep dip across the alt token markets. Daily trading volumes sum into thousands of dollars. reading at a decent average price of $0.06 is unusual in a bearish season and this can only be linked to the sustainability plans in the LEO tokenomics.

The LoDex has become the fastest-growing emerging multi-chain decentralized exchange (DEX) where native L1 tokens are swapped. In the first month, almost $40k in volume was achieved through 912 swaps on LeoDex. All these, $0 fees are charged for trades under $150. On trades over $150, 100% of affiliate fees buy $LEO + $CACAO and perma-pool on Maya. It is not out of place to call it the DEX of the people, by the people.

LEO on LeoDex: A Case for Listing Hive L2 Tokens

With the LEO token at the center of its operation, the team behind the project has proven that the DEX has the potential to boost the economy of Hive L2 assets. This already is happening with the LEO token. It is cool to swap LEO token into native BTC or RUNE on LeoDex. This is not a wrapped BTC or wrapped RUNE. Incredible.

The LeoDex has decongested the pressure on the $HIVE token from the internal L2 market. That is, instead of swapping LEO into $HIVE, I would rather swap LEO into RUNE and or BTC especially as they are cheaper. Personally, my target is to swap LEO into at least a hundred RUNE before the bull season sets in.

Listing Hive L2 tokens on LeoDex would help improve the lots of the tokens' economy. However, I expect that @khaleelkazi would share thoughts on the possibility of other Hive L2 tokens to get listed. Already, we have DEC and SPS listed. I am hopeful to see tokens like ZING, CENT, etc, which have great prospects.

With the volume airdrop that is coming to reward LeoDex users based on the volume of assets pooled and swapped over a while, listing more Hive L2 tokens could make more hive users richer.

Which Hive token do you want to see on LeoDex next?

If you found the article interesting or helpful, please hit the upvote button, and share for visibility to other hive friends to see. More importantly, drop a comment below. Thank you!

This post was created via INLEO, What is INLEO?

INLEO's mission is to build a sustainable creator economy that is centered around digital ownership, tokenization, and communities. It's Built on Hive, with linkages to BSC, ETH, and Polygon blockchains. The flagship application: Inleo.io allows users and creators to engage & share micro and long-form content on the Hive blockchain while earning cryptocurrency rewards.