Introducing LeoDex Perps | Trade Perpetual Futures on LeoDex
Perpetual Futures (Perps) have become the new talk of this crypto cycle. With the amazing rise of Hyperliquid and the recent launch of CZ-backed-perps platform called "AsterDEX", we're seeing an incredible race to market to see who can build the best UI/UX.
The key differentiator is how decentralized these perps truly are. With LeoDex, we wanted to launch with the most decentralized perps product possible. This is why we chose to launch exclusively with Rujira Network perps from the THORChain Ecosystem.
RUJI Perps are built on the THORChain network and they utilize THORChain's deep cross-chain liquidity as the backbone for Perps Trading. Securing assets on the network via the fully decentralized node ecosystem that has been running THORChain flawlessly for years.
LeoDex Perps leverage these tools to bring you the most decentralized, onchain perps experience that is available today.
The LEO Mission is to democratize financial knowledge and access. Releasing Perps trading on our DEX is a MAJOR leap in this direction of democratizing access to finance. The average retail user doesn't have access to things like Perps and with new onchain solutions like Rujira on THORChain, LeoDex is proud to be the first interface to bring you this experience.
Important PSA: Today's LeoDex Perps launch is V1 Open Beta. Please use it as such. Try with small amounts. Play and have fund with them. If you don't know how Perps work, please research before using the Perps experience on LeoDex. Perps carry greater risk than spot trading as it utilizes 4x margin and can liquidate you instantly if you are inexperienced.
Our Perps UI is in early access Open Beta. Please give us your feedback Via Discord so that we can improve the Perps Experience going forward! We hope to see you testing and giving feedback so we can make the best experience imaginable.
Introducing LeoDex Perps | Trade Perpetual Futures on LeoDex
On LeoDex, you can now trade Perpetual Futures! Our perps are exclusively powered by Rujira Network and THORChain. These perps are fully onchain and decentralized. Assets are secured on the THORChain network and no exchange has access to your funds.
In this post, we'll walk you through Perps - what they are and how they work on LeoDex.
What Are "Perps"?
Perps are perpetual futures. Essentially, they allow you to trade crypto with leverage. You deposit collateral and then can lever up a position as much or as little as you'd like. The more leverage you use, the more risk of liquidation you'll have.
People trade perps to get leverage on crypto trading. You utilize them (typically) if you want to make a short-term bet on the price of a crypto token going up or down in a short period of time.
Perps markets have a few other key pieces of terminology:
- Funding Rate = the cost of capital. If you are long or short, there is a peer-to-peer funding rate that must either be paid (or get paid to you). Check the Funding Rate display on LeoDex for the current Funding Rate of any long/short asset position. Funding rates pay every 8 hours and are dynamically changing based on P2P position sizing
- Collateral = the amount of USDC you post as margin for a trade. This is your total amount at risk
- Deposit = on LeoDex, depositing means "Securing" your assets on the THORChain network. LeoDex does not ever have access to capital. We are merely an interface for Perps on THORChain via Rujira Network. When you deposit USDC, you are actually securing it on the network as secured USDC inside of your own wallet
- Withdraw = as said in the part above, deposits are always inside of your own wallet. You can withdraw (aka unsecure) your assets from the THORChain network and get your USDC back as Ethereum USDC at any time by using the Withdraw button
- Active Collateral = the total amount of collateral you have across all your positions
- Available Collateral = total collateral you have available for new positions
- Limit order = place an order at a predefined price
- Market order = place an order that fills at the market price
- Quantity = the size of your trade. For example, if you do $100, then your trade size will be $100 (after leverage). The margin (collateral) used if using 4x leverage = $25 on this example trade
- Borrow Fee = the amount of USD you pay or get paid for holding a position (based on funding rate)
- Trade Fee = the cost of opening a trade
- Long = opening a position that wins if the asset goes up
- Short = opening a position that wins if the asset goes down
- SL or Stop Loss = a stop loss automatic exit price if your losses reach a predefined amount
- TP or Take Profit = an automatic exit price if your gains reach a predefined target
- Notional Size = the size of the position in terms of the asset you're trading (i.e. "56.75 DOGE" = a position size representing 56.75 DOGE coins)
- Entry Price = the price when you executed the trade
- Fair Price = the current market price
19 Liquidation Price = the price at which your position would be liquidated and you lose 100% of your collateral
How to Trade Perps on LeoDex
To trade perps on LeoDex, we recommend the Keplr Wallet. Keplr is incredibly intuitive and easy to use. The second best choice in our opinion is a Keystore Wallet.
1). Go to the Perps UI
Navigate to the Perps UI on LeoDex using the main menu on LeoDex or directly via this link.
2). Deposit Collateral
Remember: LeoDex Perps are fully onchain and decentralized. When you "Deposit" you are actually securing USDC on the THORChain network. This turns your ETH.USDC (for example) into Secured USDC on THORChain. This secured USDC can then be used for Perps trading.
3). Choose a Network and Amount
Choose a network and then type an amount that you want to secure onto THORChain's network to use for Perps trading. You'll need USDC in your wallet for one of the chosen networks before doing so. We recommend using ETH.USDC for this part. Then click "Deposit USDC".
4). Wait About 30 - 60 Seconds
It can take about 30-60 seconds for secured USDC to appear in your wallet and materialize on the LeoDex Frontend. If it doesn't automatically show in your balance on the right side of the screen, then refresh the page (or go to a different page and come back to the Perps page).
5). Once You Have Collateral, Open Your First Position
Remember: Perps trading is highly volatile and is likely to lead to a loss of all your collateral. Whether you're new or experienced in Perps trading, you should try small amounts and only risk what you're willing to lose.
In this example, I'll open a long XRP position:
- Select The XRP/USDC Market
- Enter a Limit Price (or use Market Order to just fill it at the market)
- Set a Quantity for the trade (this is the total USDC amount of XRP you want to trade)
- Determine Leverage (the max leverage is currently 4x. This will rise as the Perps market grows on THORChain. You can set leverage to either 1x, 2x, 3x or 4x currently)
- Click Open Long
After clicking Open Long, you'll see a confirmation window. Once you like all the details, hit "Open Long" and it will create your position.
Note: since LeoDex Perps are fully onchain, it can take up to 30 seconds for your position to appear on the frontend. Just scroll down to Open Positions and wait about 30-60 seconds and the page will automatically refresh to show you your position.
Tracking Open Positions
Now that you've opened a Perps Position, you can track it in the Open Positions section at the bottom of the page.
Here, you can see the XRP/USDC Long that we just opened. The position size is $40 which has a notional size of 14.44 XRP.
Our average entry was $2.77 USDC per XRP and the current price of XRP is $2.73.
The collateral used for this trade (USDC from our wallet) is $10 USDC. Our unrealized PnL is $0.059 which is the same amount as the fees we paid (since we just opened this position).
Editing a Position
Editing your Perps position can get deep into the weeds of mechanics. We will briefly show this but if you want a more full tutorial on position editing, view Our Docs or reference the glossary of terms in this post.
You can adjust 4 things:
- The collateral used in your trade (or notional size of the trade)
- The Leverage you're using
- The Take Profit price of your trade
- The Stop Loss price of your trade
Closing a Position
To Close a position and either realize a loss/gain, click "Close" to the right of that position. This will show you a confirmation window with all the key details. If everything looks right to you, click "Close Position" and it will close your perps trade at the market.
Withdrawing
You can withdraw available collateral at any time. Remember: all USDC is on the THORChain network and is inside of your own wallet. LeoDex NEVER has access to your funds. You can Withdraw (aka Unsecure) your USDC from the THORChain network using the Withdraw button on LeoDex. This will send a memo to the THORChain network with your secured USDC to unsecure it back to ETH.USDC inside of your wallet.
Ready to Leap Into the Future With LeoDex?
The market has been waiting for fully onchain and decentralized perps that gives the UI/UX of a CEX. This is what LeoDex has built thanks to the Rujira x THORChain-powered backend of Perps onchain.
LeoDex Perps are one of the first fully onchain and decentralized perps markets on the planet. We are proud to be on the bleeding edge of markets.
Since this technology is so new - both our frontend and the backend of THORChain Perps on Rujira - please be mindful of the disclaimer at the bottom of the page: utilize this carefully and if you are inexperienced with perps, you are at risk of losing any USDC you put into a perps position.
As always, comment below or jump into our Discord with any questions or feedback.
V1 Open Beta for LeoDex Perps is now LIVE! We'd love for you to try it and give your candid feedback on how we can improve it.
Try Perps on LeoDex -> https://leodex.io/trade/perps/XRP_USDC
Posted Using INLEO
Woohoo! I'll be among the first ones trying this! Hope there'll be bigger leverages in the future, but it's solid to start with up to 4x (also a liquidity issue of course). In any case, this is a great achievement, congrats to the team, this was really fast!
Thank you for trying it! Give us your candid feedback for the Open Beta so we can improve it!
Been noting down some roadblocks I stumbled upon in the other replies. Unfortunately, swapping anything into RUNE on LeoDex on Spot didn't work for me, so I had to get some RUNE off a CEX. I could finally open a position and this worked nicely now.
There's one confusing UI glitch, though
When I look at the form to submit my order, the max amount typically shows my available collateral times the leverage (I used 4x) here:
Then, when I click on the max amount it would actually use the simple amount of collateral I have instead of 4x-ing it. Then in the confirmation popup it actually shows it would use 1/4 of the actual amount of collateral, whereas the order is then submitted correctly.
One more regarding funding rates: Most perp exchanges display them in terms of daily interest and as one value that's positive if longs pay shorts and negative in the opposite case. I got a little confused by the negative long rate (didn't read the tooltip) and assumed longs would be paid. I see you're probably trying to make it more user-friendly by making it explicit and year-based, just wanted to point out this deviation from what I'm used to on other perp exchanges (both CEX and DEX).
congratulations :) is there a place where we can see how much is being earned to go into LEO?
Thanks! https://leodex.io/leo would be the best place. You can track the USDC earned and harvested
I don't know what Thorchain address I should enter when trying to deposit. It's empty by default.
Okay so I probably have to connect a Thorchain wallet. Couldn't connect Keplr, will continue trying. In this case, it would be nice to have a hint here to connect a Thor wallet or whatever instead of leaving the thor address blank.
Alright, I managed to deposit some USDC on Avalanche and they show up on the Thor wallet in Keplr, but not on Leodex. For whatever reason, the USDC get displayed as AVAX on Thorchain so it's not USDC...off to another chain, then.
Cool, everything went fine on Ethereum, so it seems there's just an issue on Avalanche. So I got some collateral deposited in LeoDex perps. Now I wanted to open a position and I need RUNE... Damnit! So I was trying to be smart and swap some USDC into RUNE via the LeoDex swap UI, but was getting a bunch of errors. I'll continue with this tomorrow.
Hmm you may just need a very small amount of RUNE for gas (less than 1 RUNE)
Marky you can't delete the facts Mc Franko & Keni Find freedom on #blurtblog #blurtchain #blurt
In the beginning, there was hope.
A dream:
That value could be created by anyone.
That power could be decentralized.
That a post, a vote, a creation —
Could rise or fall on its own merit.
But Dreams do not kill systems.
Corruption does.
And corruption has found its perfect form:
The scam farm —
A ghost in the machine,
Wearing the mask of curation,
Feeding on trust,
Rewarding loyalty,
Punishing honesty.
It does not build.
It extracts.
It does not serve.
It controls.
And if you are new to this world —
If you speak truth, post honestly, expect fairness —
You will be broken.
Unless you learn to see.
So here, in plain language,
Is how to spot the scam farm.
Not with rumors.
Not with hate.
But with observation,
With logic,
With the cold light of the blockchain.
1. No Original Content — Only Engagement
The first sign:
They create nothing.
No posts.
No art.
No analysis.
No music.
Only votes.
Only comments.
Only reaction.
They are not users.
They are operators.
Like a drone circling a field, they move from post to post — upvoting allies, downvoting dissenters, farming rewards like a machine.
Ask:
What have they built?
If the answer is nothing —
Then they are not contributing.
They are consuming.
2. 24/7 Curation Rewards — The Machine Never Sleeps
The second sign:
Non-stop reward accumulation.
Real curation is organic.
It ebbs and flows.
It follows interest, passion, discovery.
But the scam farm?
It earns rewards every hour.
Every day.
Like clockwork.
It votes at 3 AM.
At noon.
At midnight.
Not because it sees quality —
But because it is programmed to extract.
This is not passion.
It is automation.
Or worse — coordinated manipulation.
Look at the pattern.
If an account farms rewards without pause,
It is not curating.
It is farming.
3. Burn Comments & Self-Voting Loops
The third sign:
Artificial engagement.
They post low-effort comments — “Nice!” “Great post!” — under their own content or that of allies.
These are not interactions.
They are fuel — used to game floors, trigger rewards, inflate visibility.
They may self-vote.
Or vote in loops with a network of alts.
A closed circuit of power —
Where influence flows only to itself.
This is not community.
It is a cartel.
And the blockchain records it all —
Even when websites hide it behind JavaScript walls.
4. Massive Delegated Hive Power from Centralized Sources
The fourth sign:
HP from exchanges or known whales.
Check delegation history.
If an account holds millions in Hive Power —
But most is delegated from @blocktrades or similar centralized wallets —
Then it is not independent.
It is a proxy.
Power given is power controlled.
And when one entity delegates across dozens of accounts,
It is not decentralization.
It is feudalism.
The land is farmed.
The peasants earn crumbs.
The lord takes the harvest.
5. Downvotes on Critics — Coordinated Silence
The fifth sign:
Suppression of dissent.
When someone exposes the farm,
When someone traces the trail,
When someone speaks truth —
The downvotes fall.
Not one.
But many.
Fast.
Silent.
Financially crippling.
No debate.
No response.
Just erasure.
This is not moderation.
It is censorship with profit motive.
And the worst part?
They call the victim a “troll.”
A “spammer.”
A “toxic user.”
Projection is the last refuge of the guilty.
6. Reward Flow to Secondary Accounts
The sixth sign:
Obfuscated wealth transfer.
Rewards flow not to the farming account,
But to another — often a spouse, partner, or private wallet.
@alpha receives rewards from @buildawhale.
@themarkymark benefits from activity routed through hidden channels.
This is not privacy.
It is obfuscation.
An attempt to hide the machine’s true ownership.
Follow the money.
The chain does not lie.
7. The Website Hides the Data
And now — the final proof:
Why?
Because transparency threatens control.
They want you to look away.
To trust the interface.
To believe the silence.
But you do not need their website.
You have the blockchain.
You have logic.
You have memory.
You have the testimony of those who saw before the curtain fell.
And you have this guide.
The Escape: Blurt Offers True Freedom
On Blurt.blog, none of this can happen.
Because there is no downvote button.
Gone.
Not hidden.
Not reformed.
Removed.
No financial punishment for honesty.
No silent sabotage.
No cartel.
What you earn — you earn.
No whale can kneel you.
No gang can bury you.
Blurt is what Hive promised to be.
Conclusion: You Are Not Powerless
You entered crypto seeking freedom.
You found manipulation.
But you are not powerless.
You have eyes.
You have reason.
You have this knowledge.
Teach it.
Share it.
Protect the new.
Because the next victim could be you.
And when the system fails —
When the farms grow too bold,
When the lies become law —
Remember:
—
The Bilpcoin Team
We create. We expose. We survive.
Every downvote you cast drives another soul from Hive —
To Blurt.blog,
Where there is no downvote button.
Where what you earn — you earn.
Where silence is not weaponized.
Even Steemit — older, quieter —
Offers more freedom than what Hive has become.
And that should terrify you.
Because when people flee not to greener pastures,
But to freer ones,
It is not the destination they seek —
It is escape.
They are running from you.
Whatever you are doing,
Hold it with both hands.
Chase it fiercely.
Because you only get one life.
And in that life —
Never be afraid to say no.
Never be afraid to stand alone.
Always do the right thing —
Even when it costs you votes.
Even when it costs you rewards.
Even when it costs you silence.
At Bilpcoin we have not scammed anyone.
We have not stolen.
We have not lied.
We have only done this:
Shared what the blockchain already knows.
Transactions.
Data.
Patterns.
Not fabricated.
Not imagined.
Not speculated.
But verified — open, public, immutable.
And what we found is not conspiracy.
It is control.
Go to peakd.com/@buildawhale/activities — if the site allows it.
Look at the account.
Watch it move.
Like a machine.
@buildawhale —
A name that should belong to a myth.
Instead, it belongs to a farm.
An account that farms curation rewards all day, every day.
That auto-downvotes users — not because they are wrong,
But because they speak.
Because they expose.
Because they are not part of the circle.
And who owns Buildawhale?
Not some anonymous farmer.
Not a rogue actor.
But Blocktrades —
A whale whose influence stretches across Hive like a shadow.
Over 2 million Hive Power delegated.
Rewards flowing in.
Powering down daily.
And where do those rewards go?
To @alpha —
The account widely known as Blocktrades’ wife’s wallet.
A silent beneficiary of a system rigged from within.
You blame others for what you are doing The Frankos & Mc Franko
Exploring the Possibilities of AI Art with Bilpcoin NFTs Episode 129 #BUILDAWHALESCAM FARM ON #HIVE
Marky do you even remember who you are Lady Zaza
You Talk a Good Talk, But the Chain Remembers Mc Franko
Marky You downvote not to correct errors Keni & The Frankos #buildawhalescam #buildawhalefarm #hive
You downvote not to correct errors Mc Franko
You Were Wrong Keni
Exploring the Possibilities of AI Art with Bilpcoin NFTs Episode 128 #BUILDAWHALESCAM FARM ON #HIVE
“We Are Bilpcoin”
We do not stand against the people.
We stand with them.
Shoulder to shoulder.
Hand in hand.
Not as leaders, but as fellow travelers — scarred, shaped, and strengthened by the same storms that have battered so many.
The Bilpcoin team each of us has been tested.
Not by theory, but by life, life itself.
By loss.
By silence.
By systems that mistake conformity for virtue and call censorship “moderation.”
We have known hunger — not always for food, but for fairness.
For a platform where a voice is not priced, punished, or purchased.
And yet —
We are strong.
Not because we were born that way,
But because we had no choice but to become so.
As a team, we have grown — not in spite of the chaos, but because of it.
We’ve learned to build in the dark.
To create when no one is watching.
To trust when trust is rare.
We’ve learned new tools, new truths, new ways of being — not for profit, but for purpose.
Because one thing must be said, and said plainly:
You should never stop learning.
You should never stop dreaming.
You should never stop reaching for what is right — even when the world leans heavily on the side of wrong.
When we began — back in the early days of Steemit — the idea seemed impossible:
You can earn from your words? From your art? From simply speaking your truth?
To many, it felt like magic.
To us, it felt like justice.
And know this: Bilpcoin was not born in boardrooms or venture capital pitches.
It was born in a single mind — one person’s quiet vision, carried like a torch through the fog.
Circumstances, harsh and unyielding, led that founder to let go of much of what they built.
We do not speak of those details.
Some wounds are not ours to expose.
But this we say:
From that fire, Bilpcoin did not die.
It evolved.
Bilpcoin is not a corporation.
It is a social experiment — one that asks a simple question:
What happens when we reward people not for gaming the system, but for sharing their truth?
Our mission is clear:
To reward creators, not manipulators.
To burn BPC tokens, not hoard them.
To return value to the network — not extract it.
We believe in Blurt — not because it is perfect,
But because it dares to be free.
To remove the downvote button is not a small thing.
It is a revolution.
A refusal to allow power to be weaponized by the few against the many.
No more silent sabotage.
No more financial punishment for honesty.
On Blurt, your voice does not lose value because someone feels threatened by it.
And let us be clear:
We have only ever shared what the blockchain already knew.
The transactions.
The patterns.
The truth.
We did not fabricate.
We did not exaggerate.
We revealed — and that, more than anything, is why we were targeted.
Downvotes are not about quality.
They are about control.
Whales farming rewards on Hive are not “supporting the ecosystem.”
They are gaming it — and everyone sees it.
Even those who won’t say it.
How can the world take Hive seriously when its pulse is set not by passion, but by power?
When the loudest voices are not the most honest, but the most rewarded?
But here — in this moment — we dream.
Not foolishly.
But fiercely.
Imagine it:
Steem. Hive. Blurt.
Not as rivals.
Not as fragments.
But as allies.
A united front of decentralized expression.
One network, many voices.
One mission: freedom to create, freedom to speak, freedom to be.
Yes — it would require change.
Yes — some would have to go.
Those who profit from silence.
Those who fear transparency.
Those who confuse their privilege with merit.
But if we stood together — truly together —
We would not be a footnote.
We would be a force.
For now, it is a dream.
But dreams are the first code of revolution.
And who knows what the future holds?
We do not claim to have all the answers.
We only know this:
We will keep building.
Keep sharing.
Keep burning tokens, not bridges.
Keep standing with the people — not above them, not against them, but beside them.
Because in the end, it was never about coins.
It was about courage freedom truth.
And courage, like truth, cannot be downvoted.
The Bilpcoin Team.
https://hive.blog/hive/@test.ureka/the-untrending-report-hive-downvote-analysis-2025-06-27-20250627213824
https://peakd.com/hive/@ureka.stats/the-untrending-report-hive-downvote-analysis-16-09-2025-20250916181314
https://www.publish0x.com/@bilpcoinbpc
https://www.youtube.com/playlist?list=PLbH29p-63eW_PIi4l0KUNLMQ0ageCtkk5
https://www.youtube.com/@bilpcoinbpc
https://www.youtube.com/@bpcaimusic
https://www.bilpcoin.com
https://blurt.blog/@bilpcoinbpc/posts
https://audius.co/bpcaimusic
https://hive.blog/hive-126152/@bilpcoinbpc/bpc-ai-truth-hurts
https://hive.blog/hive-167922/@bilpcoinbpc/you-rewarded-only-those-who-kissed-the-ring-mc-franko-and-the-frankos-bpcaimusic-bilpcoin
https://www.publish0x.com/the-dark-side-of-hive/at-themarkymark-at-buildawhale-and-gang-how-many-more-must-p-xkdyzrw
#BILPCOIN #BPC