ICYMI we launched a new feature for the LeoBridges
You can now seamlessly bridge between bLEO <> LEO (Arbitrum) and pLEO <> LEO (Arbitrum)
As well as bLEO <> pLEO
Something you might not know is that two fees get charged: 1 for each side of the bridge.
Right now, the fee for bridging is 1.5%. So if a user bridges from bLEO to LEO (Arbitrum), they actually pay 3% in total bridging fees
This 3% is charged as LEO by the bridge and burns LEO to create deflationary pressure
If $1M is swapped using these cross-chain bridges each month, that's $30,000 worth of LEO (about 200,000 LEO at current prices) that is burned each month
Let that sink in
That is cool and how much volume is being generated so far?
Why two times? Just say the fee is 3%. Nobody will ask why.
That’s huge. Every cross-chain move not only connects ecosystems but also tightens LEO’s supply. If volume hits those levels, the burn rate alone could become a major price driver over time.
I'm just happy to see the old LeoBridge plans from our early DeFi days actually taking shape and working even better than intended due to LEO burns. This is true perseverance!