LeoDex is a multichain swap protocol and inleo team has been working hard to bring more tokens as well making it a stable platform for the community. I believe that on any protocol it is very important to have some valuable coins listed so that bigger community can use the protocol which will generate the higher trading volume. Earlier the team has added Leo token followed by hive and now they have added two more tokens that are quite popular in splinterlands ecosystem. These new tokens are called SPS and DEC and if you are a splinterlands player then I'm sure you are aware that how these tokens are traded with high volume and there is a lot of trading happens in the market.
SPS & DEC Listing in LeoDex
With this addition to Leodex, now we can trade SPS and DEC for other L1 tokens. For example, I can trade us DC for SPS and even for DEC and USDC is layer one stable coin. I think this is a great move and this option will help lot the splinterland community to perform swap without visiting centralised exchange. Basically, Leodex is following the decentralised approach and they do not want users to follow the KYC process and even they want the users to keep their crypto safe since with decentralised environment we can transact using the wallet and we need not to provide keys to anyone.
I tried checking out with USDC and DEC coin to see how much I am going to get if I perform the transaction and what would be the transaction fee. I know that transcription fee is an important part of any protocol and if it is lower than anyone would be OK to use the protocol and perform the trades but if the transaction fee is higher then many people avoid it and look for the options where the swap can be done with minimum fee. I am also the same kind of person and I do not want to pay a higher amount towards the transaction fee in crypto and this is the reason why I look for the alternatives like Leodex where transaction fee is reasonable. Like I have shared in the below snapshot you can see that for 10 USDC I will be getting more than 12 K Dec tokens which I think is a good amount. Although this is based on the market price but if you look at the estimated fees then it is just $0.35. I'm okay to pay this much of fee for this swap transaction because I don't think anybody would have concern with such a low amount of transaction fee.
Now let's also cheque out for the sps that how much we are going to get through 10 USDC. I do not have the USDC in my wallet and this is why it is showing insufficient balance. But if I continue with this transaction as shown on the below snapshot then I'll be getting 775 SPS for the same amount of 10 USDC. If you look at the estimated fees then it is $0.31 and again this is quite reasonable which I think should not be the problem for anyone who is going to perform the transaction for this app. For a regular user who is not a veil transaction fee is very important and this should be reasonable.
Both the tokens are most traded in the market and anticipate that with this listing Leodex will be getting more trading volume which is good. Let's see how is it going to happen in the coming days but I'm sure the splinter land community must be excited anyone I am since I am a player in the game and I often buy SPS. I'm waiting for the time and I can use hype to swap against SPS. I tried doing this but looks like either there is some bug or the option is not enabled as I could not proceed with the transaction, and I was getting an error continuously.
As I often buy sps tokens and accumulate to grow my holding in the game and now with this listing I will be trying it out but I am expecting the hive to be enabled for sps purchase. As I have already mentioned that I'm not sure of the reason why it is not working but if in case it is not enabled then I'm sure that team must be looking into this and hopefully they should be enabled very soon. With this the community is going to get easy options that can be used to perform the swap without going through the complex process and also, we will not require to go through the centralised exchanges.
LeoDex Url- https://leodex.io/
images taken from leodex
Thank you
Posted Using InLeo Alpha
Posted Using InLeo Alpha
