Our team has been in absolute overdrive mode. We've spent the last few months coordinating and organizing for this moment.
The level of marketing and building that has been happening for this is truly astonishing. I am honestly surprised that we've made this happen and genuinely so happy to see what comes next.
L1 Native HIVE Swapping is About to Be a Reality!
This is a moment I've been waiting for for over two years now. I've wanted HIVE & HBD to get listed on DEXes all over the place.
HIVE is down to just a handful of CEX listings. Binance being the biggest. Binance already removed HBD from trading. I believe that it is an existential threat to be reliant on Centralized Exchanges.
As a Hiver since the early days of the legacy chain, this has become a mission for me. The INLEO team has tried many iterations to get to this point but we finally have built something that will enable base-layer, native swaps with HIVE.
- No Wrapped tokens
- No KYC
- Full Self-Custody
- Incredibly Fast
- Efficiently Priced
Introducing LeoDex
LeoDex is our brand new interface for the world of cross-chain swaps. It is powered by Maya Protocol and our brand new Hive Aggregation Technology (HAT), more on HAT later.
LeoDex allows you to seamlessly swap any L1 asset that is supported by Maya Protocol, our Hive Aggregation Technology and soon Thorchain & ChainFlip assets as well.
The swapping process is incredibly intuitive. I have already beta tested this UI in front of a few different people who are deeply familiar with Maya Protocol and Thorchain and asked for feedback. Multiple people have said it is the cleanest, simplest and most intuitive interface they've ever seen for Maya and Thorchain.
I am truly excited about what this means for onboarding new Hivers, building a thriving ecosystem for LEO and delivering a bright future for DEX trading with Hive-based assets.
Timeline for Launch
Our timeline is largely dependent on the Maya Protocol team right now. They are currently pushing a v109 upgrade to their protocol. In this 109 upgrade, two critical things are happening:
- They are integrating Arbitrum as a blockchain for swaps
- They are listing Arbitrum LEO as a tradable asset on Maya Protocol
We will be the first Arbitrum Token to get listed on Maya Protocol and I believe this positions us extremely well to absorb early liquidity and swap volume.
The current timeline positions a possible launch window for LeoDex on Monday, April 8th around 10AM EST - right before the Monday's with Maya X Space.
When LeoDex goes live, the LEO-CACAO pool will immediately go live as well.
Within a few hours (let's say 24 hours, to be safe), HAT will go live. HAT going live will enable HIVE to be traded with any L1 assets on Maya Protocol.
We are also working with a few other Hive teams to get other Hive-based assets live on the HAT rails. This would enable them to be swapped with any L1 assets on LeoDex as well.
HIVE will be first and likely live by Tuesday, April 9th. HBD will follow closely behind. Then other Hive-based assets as well.
Hive Aggregation Technology or HAT
A major roadblock in L1 native swaps is that you need to have some kind of blockchain-based connection. Without that connection, L1 swaps can't happen. This is a major reason that HIVE & HBD aren't listed on L1 Dexes already.
LEO getting listed on Maya Protocol opened the gateway for us to build what we are calling "Hive Aggregation Technology (HAT)".
HAT allows you to swap HIVE and any supported Hive-based assets with anything listed on Maya Protocol. We will also be integrating with Thorchain and ChainFlip in the near future which will open the gateway to even more L1 assets being instantly tradable with your HIVE.
Aggregators have made a big splash in the L1 DEX world. Maya Protocol is actually currently working on an aggregator for Maya-Thorchain.
We just built one for Leo-Hive and we're calling it HAT. This will allow you to seamlessly swap with any L1 native assets using your native HIVE (and later on, your HBD and other Hive-based assets as well).
We posted this demonstration video on X yesterday which shows a walkthrough of an L1 HIVE swap to any other asset.
It shows HIVE being swapped through the HAT rail and output to any L1 asset (for example, Native BTC, ETH, RUNE, DASH, USDT, etc.).
The Potential Market
The current market cap of HIVE is roughly $169M. The estimated monthly trading volume is $73M and 76% of this monthly volume originated from the Binance HIVE/USDT CEX listing.
Our goal is to capture at least 10% of this market by 2025 using the HAT protocol and LeoDex interface that makes it seamless. This would be roughly $7.3M trading across the HAT rails each month.
As I said in the beginning of this post: the importance of this is far beyond just another listing for HIVE.
This is THE listing for HIVE. This is the moment when HIVE steps away from CEXes and builds its first base of significant trading volume on L1 DEXes.
We all know how bulletproof HIVE is. We've seen and first-hand experienced attacks from all angles.
Being on as many DEXes as possible and being able to trade with size is vital to the future of HIVE. I believed this ever since the incident that created HIVE 4 years ago. This is mission critical to me.
Marketing and the DHF
We've spent the last few months figuring out how to market this launch to the world of L1 swaps.
The amount of work and resources that we've poured into making this happen is astonishing. It's taken so much to get to this point.
Hive Keychain is the exclusive Hive-based wallet option to connect to LeoDex and we will also be working with the Keychain team to onboard more users into the Keychain Extension.
Maya and Thorchain possess tens of thousands of Monthly Active Users. Those users are HEAVY HITTERS in the crypto space. They are transacting BILLIONS (yes, billions) of dollars on a monthly basis. Thorchain swapped $10B in the month of March.
I believe Maya will catch up to this TX volume. The future of Maya Protocol is extremely bright and I want to position not only LEO but also HIVE in front of the masses who are flooding into the space of L1 DEXes.
If you believe in this mission - of putting HIVE in front of thousands of new potential users as well as whales who have billions of dollars to potentially invest in the future of Web3 - then consider supporting our DHF Proposal https://peakd.com/me/proposals/269.
The DHF proposal plays a key role in proliferating HIVE and getting in front of this audience. Ironically, our proposal just went under the funding line by only 3.5M HIVE POWER just days before we have the biggest marketing launch in Hive history.
We are so excited about what LeoDex, LEO, HIVE and our new HAT protocol are going to accomplish over the next 48 hours as they finally go live into the universe.
Join us on this journey. Get ready for L1 native swapping with HIVE.