Trade Hive for Bitcoin on New LeoDex
- According to the AMA and my reading, @khaleelkazi has a plan to create a pathway to swap Hive directly for Bitcoin on LeoDex
- This is my current understanding of this project, and it is exciting and I think a huge event.
- As I understand it, swapping native Hive for native Bitcoin, will be possible on LeoDex, using the new Arbitrum Leo token, the trading pair Leo-Cacao, the trading pair Cacao-Bitcoin, and a a UI / User Interface on LeoDex, which allows you to trade Hive for Bitcoin on LeoDex with your Hive, with the LeoDex doing all the bridging and swapping from Hive to Leo- to Arbitrum Leo to Cacao, to Bitcoin, so it will look like your trading Hive for Bitcoin.
- Wow! Pretty Incredible.
- This will be possible due to the existence of Thorchain, Maya Protocol (blockchain), Cacaoswap listing Arbetrum Leo, and the LeoDex being reworked to change the User Interface UI so this is appears effortless.
- It will be a incredible achievement to make this possible, and it will be the fulfillment of one of Khal's goals to connect Hive to the rest of the world of cryptocurrency, but mainly Bitcoin, from which all other connections are possible.
- Whew..a mouthful.
- The following is a grouping of facts, statements and my interpretations to explain how this is all possible.
First you a need a list of players or blockchains and tokens
- I think you need a Program, like a roster at a sporting event to identify all the players, only here all the tokens and blockchains LOL!
- Thorchain blockchain ->forked to create Maya blockchain
- Maya Blockchain upon it was built a DEX decentralized exchange Cacaswap
- Cacaoswap lists a new Leo token called Arbitrum Leo, and Arbitrum, a second layer blockchain on Ethereum similar to Hive-Engine as a side chain of Hive.
- This new Leo token, Arbitrum Leo, is listed as a trading pair on Cacaoswap, Arbitrum Leo-Cacao on trading pair on Cacaoswap, and the Cacao token has a trading pair on Cacaoswap Cacao-Bitcoin.
- So this is the path from Hive to Bitcoin; Hive-> Leo -> Arbitrum Leo -> Cacao -> Bitcoin.
- This will be performed by LeoDex when you access the Hive-Bitcoin user interface on LeoDex, and the swaps will be performed in the background.
Background Information
- I have pieced this together by reading @leofinance posts, and listening to the AMA's and AMA clips.
- Now listen to the AMA clip and you may understand better what is being said, and relax, your fine, this stuff is complicated, and you just need a moment to see it on paper and you will understand.
- Inleo AMA Clip
Now Let us review the text from this AMA regarding this clip
- Now let's review the actual text from this AMA Clip with the above understanding and the with this better understanding we can grasp what a revolutionary event this is, I hope.
Arbitrum LEO will be used in our Maya listing instead of Wrapped LEO to significantly reduce fees
The listing of LEO on Arbitrum was completed in 12 hours to fit into Maya's V109 update
LEO will be the first Arbitrum token registered on Maya
The LeoDex UI will manage swaps on Maya for Hive assets
Users will be able to convert from Hive to BTC using the new version of LeoDex
Listing on platforms like CoinGecko, CoinMarketCap, etc., will be done under the LEO name with its actual tokenomics metrics for the first time
One of our key developments is deploying LEO on Arbitrum and then listing Arbitrum LEO on Maya, a strategic move that significantly reduces transaction fees compared to using Wrapped LEO. With fees paid in ETH but on a Layer 2 protocol, users can enjoy seamless transactions with drastically reduced costs.
Our transition to Arbitrum was a smooth process; we completed the Arbitrum listing within just 12 hours, aligning perfectly with Maya's V109 update, which also introduces Arbitrum to their platform. As a groundbreaking milestone, LEO becomes the first Arbitrum token listed on Maya, unlocking exciting opportunities and paving the way for innovative trading possibilities.
We have deployed LEO on Arbitrum with a 50 million tokens cap, which is the maximum amount of LEO that will ever exist, as seen in the tokenomics section of its documentation. This ensures transparency in our upcoming listings on platforms like CoinGecko and CoinMarketCap under the LEO name, providing users with accurate information.
The new version of LeoDex, a distinct app linked to the old one only by name, will enable transactions from Hive to Maya and vice versa, using the LEO/CACAO pair as the vehicle. Maya also grants us access to Thorchain, as they are developing an Aggregator that will soon go live.
These are exciting times for Maya, exciting times for LEO, and we're entering at the right moment to leverage the upcoming growth.
Summary or Last words...
- So you may soon trade Hive directly for Bitcoin on LeoDex.
- This is my understanding of the Inleo plan to create a pathway to swap Hive directly for Bitcoin on LeoDex. Amazing.
- This is complicated, but basically LeoDex is using the trading pair Hive-Leo, Leo-Arbitrum Leo, the trading pair Arbitrum Leo-Cacao, and the trading pair Cacao-Bitcoin to allow you to trade Hive for Bitcoin.
- And this will occur on LeoDex with your Hive, with the LeoDex doing all the bridging and swapping from Hive to Leo- to Arbitrum Leo to Cacao, to Bitcoin, so it will look like your trading Hive for Bitcoin.
- This will be possible due to the existence of Thorchain, Maya Protocol (blockchain), Cacaoswap listing Arbetrum Leo, and the LeoDex being reworked.
- This is amazing.
- This connects Hive to the rest of the world of cryptocurrency, through Bitcoin, from which all other connections are possible.
- Today is an amazing day.
- Cheers.
@shortsegments
Posted Using InLeo Alpha
