wLeo on Ethereum blockchain out , aLeo arbirtrum blockchain in.
In my previous article I described the planned listing of Leo on cacaoswap, a DEX or decentralized exchange on Maya blockchain, a friendly fork of Thorchain blockchain.
The listing was a wrapped token, wLeo from the Ethereum blockchain and Cacao a native token on Maya.
However Hive account@khaleelkazi has re-evaluated the high transaction fees on Ethereum and decided to create a new wrapped token on Arbitrum, which I will call aLeo. As of the writing of this post, the plan is to use this new token for the listing on Cacaoswap instead of wLeo.
Why?
Maya is building a relationship with Arbitrum and this will connect the very passionate community of Arbitrum and Ethereum to the very passionate community of Maya and Thorchain.
This could result in a tremendous volume of transactions involving Bitcoin, Ethereum and other tokens to Cacaoswap. Which could cause that token to increase in value, and the value of the tokens in it's trading pairs like aLeo. No guarantees.
And this would increase trading volume and transaction fees on Cacaoswap for all those providing liquidity.
Transaction fees Arbitrum versus Ethereum
The fees on Arbitrum, a second layer blockchain of Ethereum are considerably cheaper then Ethereum, and I have also seen comments on Threads that the fees there are cheaper then Polygon and Binance Smart Chain.
So this change is logical and will help more members of the community participate in this listing.
Straight from Khal
From the last AMA #khaleelkazi annunced this news:
Our latest project is becoming juicier with increased complexity, but it also brings more benefits. The listing of LEO on Maya also opens the door to Thorchain.
In this clip:
Maya will be launching an Aggregator that works with Thorchain
Any token listed on Maya will be able to trade with anything on Thorchain
On Maya, you could swap bitcoin directly into LEO
Income from affiliate fees will buy LEO and CACAO and provide permanent liquidity in the LEO:CACAO pool
Maya is launching an Aggregator that will work with Thorchain. Afterward, any token listed on Maya gains the ability to seamlessly trade with anything available on Thorchain. This means LEO listed on Maya will gain access to a vast ecosystem of tokens.
Using the new Inleo Swaps module that will be added to the UI, you will be able to directly swap LEO to Bitcoin, for example, and vice versa, opening up new avenues for efficient and streamlined transactions.
The income generated from affiliate fees will be used to acquire LEO and CACAO tokens. This strategic move not only bolsters liquidity but also ensures the sustainability of the ecosystem, particularly within the dynamic LEO:CACAO pool.
We are seeding this pool with $100,000.00, and we hope to see it reach $250,000.00 soon after launching, and then steadily increase over time.
Exciting times lie ahead for our ecosystem.
In last-minute news: for now, we've dropped the WLEO listing and will be listing Arbitrum LEO instead for lower fees and more versatility. Check the most recent AMA to delve deeper into this.
One of these should work, giving you access to the news.
Maya, Thorchain, Cacaoswap
Maya Protocol is a friendly fork of Thorchain, the native wallet peer to peer swap blockchain.
The idea here is safety, and the end of wrapped tokens, with sawpping of native tokens, but we are not there yet.
We go there with native Bitcoin or native Ether and trade Bitcoin for Ether, as long as you hold them in the same wallet.
Then if we list a Hive token there, we could in theory swap Hive for Bitcoin or Ethereum, via swapping Hive for Leo, then Leo for aLeo, and aLeo for whatever token has a trading pair with Bitcoin or Ether. In the future, if we could get Hive listed on cacaoswap as a Hive-Bitcoin trading pair, and we could hold Hive in a custodial wallet, we could connect our Hive wallet to cacaoswap and trade HIve directly to Bitcoin.
Right now the aLeo-Cacao trading pair, which is planned, would provide the opportunity to trade Hive for Leo, Leo for Cacao, and Cacao for Bitcoin. So it is a way to trade Hive for Bitcoin, but there are steps inbetween.
The only constant in life is change.
So that is the news today about Cacaoswap.
Hive account@khaleelkazi has wanted to trade Leo on Thorswap for a year or more, but the listing is hard to get and until now we didn't have a foothold into the system. But now if this lsting happens we will have a direct route from Hive to Thorchain.
The journey of the Leo token continues, from Hive to Ethereum, to Binance Smart Chain, to Polygon and now to Arbtrum and Maya, soon to Thorchain.
Leo token, the little token that could. Never surrender, never give up, always trying to get a bigger and better deal.
has re-evaluated the high transaction fees on Ethereum and decided to create a new wrapped token on Arbitrum, which I will call aLeo. As of the writing of this post, the plan is to use this new token for the listing on Cacaoswap instead of wLeo.
