The Inleo team launched LeoDex a couple of weeks back and is now adding more coins to the protocol. This is good because now we will have more tokens listed on the exchange that can be used to swap against L1 coins. Having more tokens listed on the exchange is good; recently, they added SPS along with DEC tokens. Both are gaming tokens and they are the most traded tokens in the market.
Decentralised exchanges or DEX are good to use because we need not keep our funds there. We can perform the trade while keeping the self custody and this is the reason why many people prefer using such exchanges as they do not lose access to their funds. In centralised exchanges, the mechanism is completely different because we need to transfer the funds to the exchange wallet and then only we can perform the transactions however in decentralised exchanges there is nothing like that. We can hold the tokens in our wallet and through the balance itself we can perform the transaction without even leaving the self custody.
Logging in Leodex
Earlier I tried different tokens for the swap and it was a great experience and now I am going to buy sps tokens through L1. I will share whatever steps I followed so that you know the exact process.
Open https://leodex.io/
Now we need to connect the wallet and Xdefi is already enabled but I will proceed with Keystore as I have some funds there. We need to choose the option under
Now I am logged in to the leodex using Keystore and ready to perform any swap.
Buying SPS using L1
Now I am ready to perform the swap or buy transaction and for that, I need to select the token that I want to use. I have selected the token that I will use to buy SPS but I need to enter the quantity and this will show the fee as well.
Now I have entered the quantity and it shows the fee as $0.22 which is quite low. Transaction fee is an important part of performing any swap and this is why it should be visible before we proceed i'm glad to see that Leodex is doing this so it is helpful.
The process is started it takes a few minutes to complete because there are multiple conversions involved.
Some steps are completed and some of them are in progress to be done shortly.
Now the swap is submitted and you can see the status as spending however this should be done in a few moments and we can also verify the transaction in Explorer.
This swap is completed now and when I visit the Explorer window then I can see the transaction is settled. SPS tokens are added to my wallet now.
The SPS amount is sent to my hive account and its visible here.
It was a good experience while performing this swap and I did not encounter any problems while doing the swap. It was a great experience and I just need to confirm the transactions in between to ensure the smooth processing and I think it has taken approximately 2 to 3 minutes to perform all these steps. I like the overall experience and must thank the Inleo team for building such a fantastic protocol where we can swap such tokens against L1 coins. Now we need not rely on centralised exchanges for performing this type of transaction and the transaction fee is also pretty low so we don't need to be worried about it.
I have used leodex a lot and tried all the options available before. Its a bug-free protocol that works smoothly without any issues and in my case it worked flawlessly. Its going to be a big help for us as now we need not to visit any CeX to buy or sell hive tokens. We can do it just by using leodex and I believe that leodex is going to have a bigger volume and as of now, this is just the start.
LeoDex Url- https://leodex.io/
Images were taken from leodex
Thank you
Posted Using InLeo Alpha
Posted Using InLeo Alpha
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Today May 19th the SPS is at $0.012, I'm not sure but I think it is at historic lows. I believe that buying here, for those who believe in the project, is the best time.
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