The LeoDex UI has undergone a number of changes over the last few months.

At the top of the list is the addition of two protocols. Recently, in addition to Maya, Thorchain and Chainflip were added. This means that the coins and tokens that are housed on any of these protocols is available for trading.

Obviously, when talking about swapping of crypto, we see different chains coming into play. It is one thing to trade the EVM chains, since compatibility along with wrapping is simple. Few will dispute that advantage to having multiple options.

This ends when dealing with chains that stem from different codebases. For example, swapping BTC for ETH is not possible natively.

Of course, one solution is a centralized exchange. This is where the likes of Coinbase and Binance have excelled.

Today, we will look at the decentralized world and cross-chain swaps.

LeoDex: Going Deeper Into Cross-Chain Swaps

What is the importance of cross-chain swaps? Before getting to that, perhaps we should answer what one is.

A cross-chain swap, also known as an atomic swap or cross-chain exchange, is a decentralized mechanism that allows users to trade tokens or cryptocurrencies directly between two different blockchain networks without relying on intermediaries like centralized exchanges.

This process ensures that assets are swapped securely, transparently, and in a trustless way, leveraging smart contracts or other cryptographic techniques.

In other words, the reliance is upon the protocol as opposed to the centralized exchange. The latter offers simplicity and confidence due to the regulation they operate under. However, as exemplified by the most recent Coinbase data breach, this can easily be broken.

None of this exists with cross-chain swaps.

It is something that LeoDex is working on.

A Cross-Chain Interface

This is an interface that interacts with each of the aforementioned protocols. The goal is to provide the ease of use and simplicity of a centralized exchange but for the decentralized world.

One of the keys is to add history of activity. In most of the crypto world, one needs to use a block explorer to see a listing of the transactions. This, however, fails to provide the ability to see profit and loss.

LeoDex is starting to address this issue by having a profit and loss statement, the first being TCY. Over time, this will expand to include every coin or token that is traded on any of these protocols.

Imagine being able to see not only the Bitcoin transactions that occurred in your wallet but also the profit or loss on your holdings. This is a standard feature of centralized exchanges. In the decentralized world, it is a rarity.

Each of these protocols is enjoying increased volumes. There are more features being rolled out.

LeoDex is able to take advantage of this. With the upcoming release of Perpetuals, this will be another feature that can be built into the UI. Over time, we could see a feature rich interface that services the decentralized realm.

Posted Using INLEO