We got some massive news on the most recent episode of The Lion's Den.
Earlier, we were told of the integration with Maya. This was something that instantly stirred the thoughts of the potential. It turns out, however, this was but the bare beginning.
LEO is going to drill deep into the world of cross-chain swapping.
LeoSwap Is Something To Prepare For
To be honest, I have no if this is the name or not. However, it does convey the general focus of this aspect of the platform.
Here is what we were told in the AMA:
$LEO was being listed on the Maya Protocol, opening up a bridge to a multi-chain swap fork of THORchain. This is done through wLEO meaning the token has to be wrapped across.
This, we were told, is the first phase of the process.
It was also mentioned that the desire is to build that into the wallet on the Leo UI. That means that one could simply enter LEO into the UI and choose a token of output on Maya.
Here is the second step.
The third leg is to tie into HIVE and HBD. This would operate the same way as LEO except that it would use the Hive coins. On the back end, it would be routed through LEO onto Maya.
As of now, this is still the plan. We have no idea of the timeframe other than the first phase will go live on Tuesday. The second could be ready by then but no guarantees. As for the third, it could go be built over the next month.
One key to the third phase is that it will then also be used to swap any Hive-Engine token. Like HIVE and HBD, it could be build where the UI simply allows for people to enter whatever token they want to swap and what they want to receive.
LeoSwap
This is just the appetizer.
We found out that the scope of this is much larger. What about the prospect of swapping Bitcoin to Ethereum? That is nowhere in the equation as was just spelled out.
That doesn't mean it isn't in the plans.
In fact, it is.
We had it spelled out on the call. Basically, there are plans to make Leo into a swap application. This could be a subdomain of InLeo, duplicating the layout. The key here is that any token that is on Maya (and eventually Thorchain) could be swapped through Leo.
This is essentially a duplicate of Uniswap but for the Maya protocol.
What is being offered here is a service that people both in and outside the ecosystem can utilize. The value to Leo is the fact that each swap generates fees. In keeping with the platform tokenomics, we are looking at the revenues being used to buy LEO and lock the value as permanent liquidity. What happens if this gets into $10K or $20K per month?
We have to mention that we have no idea when this will be completed. However, it is something that is on the road map.
Reduced Fees
What can you do with the staked LEO, also known as Leo Power?
We know how this affects the rewards related to curation. There is also governance which is determined by the LP, as evidenced in the present stake weighted poll.
At some point, we are going to add a reduction in fees to the list. For those who are swapping through the Leo UI, the fees will be reduced if one is holding a certain amount of Leo Power.
This means, for heavy traders, there is incentive to purchase some LEO and stake it.
As for everyone else, it is just another advantage.
Platform Science
This is basic platform development.
When dealing with a digital platform,all value, no matter how incremental, is captured and fed to all users.
We are also seeing the layering associated with building more levels (tentacles) are created. With the tokenomics, it is all designed to be captured in the LEO token.
Here is where we see the financial and social starting to leverage each other. This is focused upon the financial but the social can be promoted. This, naturally, could feed into many other opportunities.
One final note:
Ads can be placed on LeoSwap, feeding into the total pageviews and building even more ad revenue.
Things are about to get very interesting.