To be fair, today is the first time in a while that I decided to check on $leo and leo.dex, so maybe I am missing some things. But this looks pretty bad, to put it mildly. I sold all of my tokens last year and never looked back, but still, I follow Khal and the leo team on X and I have liked how they have constantly upgraded their Dex. In fact, the Dex seems quite polished now - I genuinely like where they have taken it. The site is smoother, better UX and options are visible... and apparently they got $61M volume... not bad!
But this post way about leo or whatever is left of it. First, looking at the dashboard https://leodex.io/leo is not great. I am guessing there is a glitch here since everything is zeroed out. But if so, then it means that Leo 2.0 is not functional atm.
Looking at the price is not what any leo hodler wants to see.The Leo/Hive ratio is down to 0.25 again. While that is still better than the 0.07 or so we had last year before the announcement of leo 2.0, it used to be over 1 - so a 80% correction or so. And of course Hive is down big as well. Volume is also essentially 0 with like $10 traded on the day.
More price data can be found for the BEP20 Leo token. It has had some pretty big swings throughout the years, but clearly Leo is back at the bottom again. The big price swing from $0.01 to $0.25 in summer of last year was encouraging, but unfortunately it has followed the same pattern than previous pump and dumps. Leo has lost more than 85% value since then.
This, I have to say, is shocking to me. I just checked the 18% APR claim on 
Khal back then claimed that
The APR is 16% since LEO 2.0 and the new model uses a trailing + forecast average to pay delegators.
He never explained how trailing + forecast average works and wanted to respond in a post how everything was built. But I never saw it.
Again, maybe the team has announced something about the state of HP delegation payouts. If so, then I guess we can ignore the criticism here. But if not, the Leo team is blatantly ripping off Hp delegators big time. They are still (!) receiving more than 1.5M HP and are paying out naught. Even the biggest delegators are getting <1 Leo (lol).
I really hoped Leo 2.0 was going to work out. But it is clear now that it apparently hasn't. The Leo team seems to have solely focused on their Dex (which turned out to be a good product). But they haven't been transparent with Leo and especially to the HP delegators. What happened to the revenue going out to Leo holders for staking? What happened to the Leo going out to HP delegators? What happened to the vision?
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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