Land of Leo: My First LeoDex Transaction!?
Since announcing I was powering "down and out" on the Steem blockchain, I have had to consider what to do with the resulting discretionary funds.
Since beginning my "journey" on the Steem blockchain in May 2018, this is not something I have had to spend any time thinking about it. Understanding early on that all "good soldiers" only power up and never down, I never did.
Until now ...
So, aside from the obvious option of simply exchanging the STEEM for HIVE and powering it all back up, I had given some thought to further exploring some of the other tokens of which I knew something about.
After some "back and forth" in my mind, I decided the best option seemed to be "kill two birds with one stone:"
- Buy some more of the best performing token I owned - LEO!
- Use their LeoDex interface to do it!
This post covers my experience with attempting to do just that earlier this morning.
Meeting LeoFinance "Half Way" ...
The first decision was in how much new LEO was I going to invest? Initially, I liked the idea of "doubling down" and meeting the LeoFinance Team "half way" and buy as much as they had originally airdropped into my Steem Engine wallet.
One small problem. Neither transaction history in Hive Engine or LeoDex showed the history going back to the airdrop!? 😕
I even "went the extra mile" and tried Steem Engine, since that is where the original transactions would have been stored. Nope, there were no LEO transactions in there to check ... 🙁
Ahh well, moving on then ...
Executing ...
With my "half way / doubling down" thought out the window, I was running out of time and just decided to be "generous" and "double down" on the current balance. Maybe even "round up" to an even 2,000 LEO!
Okay, so time to execute. First, I needed to get some SWAP.HIVE in my wallet, so I could trade in the Market for some LEO.
While the initial plan was to utilize LeoDex for the entire process of investing in some more LEO tokens, I am "hard wired" to perform some due diligence, so I had to check into the fees for executing my conversion to SWAP.HIVE in both Hive Engine and LeoDex:
Source Image 2: Deposit dialog in LeoDex
As we can see, 0.25% for LeoDex vs. 1% for Hive Engine. Nice!
- Note: This difference applies for Withdrawals, as well as Deposits.
Okay, so I was ready with my conversion to 200 SWAP.HIVE and clicked on the "Deposit Hive" button. After taking care of another matter for a bit, I came back expecting to find the 200 SWAP.HIVE deposited in my LeoDex wallet. Then I could go on to trading for LEO.
It wasn't there ... What? 😳
Okay, it wasn't like this amount of HIVE was a "make or break" proposition for me, but I instantly thought something was wrong. All previous experiences with transactions on both the Steem and Hive blockchains were they execute very fast!
But, not this time. And ... There was no indication of what happened!?
It was in checking my PeakD wallet, that I found the answer:
Great ...
- Good news: I didn't lose anything.
- Bad News: I had no information provided, as to why I received a "refund" when I had not requested one.
If there is any clear indication somewhere about why this happened, I did not find it. The first thing I did, in attempting to found out what happened, was go back to LeoPedia's "LeoDex – Trade & Manage Hive-Based Tokens" page and read through it more carefully. I found nothing helpful.
I still don't know the answer for certain. But ... Those of my dear readers who are sharp-eyed will note there is a "1" in the image above, for which I have made no reference up to now. On clicking that hyperlink, I found this:
Hmmm. A little short of the 200 needed. 🙃 I checked back a couple of hours later and this value was down to ~ 6 SWAP.HIVE ... Going to be hard to do any trading, when this is the balance of SWAP.HIVE tokens available.
What is normal / typical? Did I just manage to try LeoDex out on a "bad day?" I do not know ...
What I do know, for next time, is to click on that hyperlink and check first! 🙄
Before retiring from a long and successful professional career, I was very disciplined in applying the "do whatever it takes" mentality which set me apart from many. Faced with this "setback," I actually started into going ahead with seeing if I could just purchase the needed SWAP.HIVE in Hive Engine.
And stopped ...
I frankly I don't the time right now to "plow through" whatever remaining (if any ...) difficulties there might be, as I am way past needing to get on with my day. Besides, since the initial thought and inspiration was to support the LeoFinance team and community, pursuing that option seemed counterproductive ...
Closing
Okay, so frankly I wanted to be more impressed with this first experience than I am. Still, we all have to be realistic in these new "virtual worlds" and understand they are a continuous "work in progress."
When I next have the time, I will build on my knowledge base of this first experience and try again. I’d love to hear any feedback you may be inspired to provide.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊
Respectfully,
LeoFinance Blogger @roleerob
🐝 🍯 🐝
P.S. While I found the LeoFinance.io posting interface too big of a "step backward" to write this post from scratch in it, I did attempt to publish it from there. I got this error message:
I have seen this before, when attempting to post from the Natural Medicine Community's website. Whoever the developer was there may be working on the LeoFinance.io interface? In PeakD, there is obviously no problem ...
If someone wishes to contact me about the details, I will be happy to work with them to get it resolved.
Written using PeakD, posted using LeoFinance and “immutably enshrined” in the Hive blockchain on Thursday, 2 July 2020!
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Congratulations, your post has been upvoted by @dsc-r2cornell, which is the curating account for @R2cornell's Discord Community.
Enhorabuena, su "post" ha sido "up-voted" por @dsc-r2cornell, que es la "cuenta curating" de la Comunidad de la Discordia de @R2cornell.
Thank you very kindly for the support @dsc-r2cornell / @blessed-girl. I hope you and yours are well, my dear friend! 🙏
Thanks for sharing this experience, I have a lot of takeaways to work on.
Your tx was refunded (as you found out) because LeoDex lacked the swap.hive to fulfill it. We’ll get that fixed in the next few hours.
The balances fluctuate quite a bit as many large stakeholders are aware of the 0.25% fee arbitrage. I’m considering a few dynamic options to fix that going forward.. for now, the balances are occasionally off-tilt when someone uses the exchange to convert a large amount at once.
By the way, there should be enough there for your 200 tx right now and I’ll continue rebalancing the wallet today ;)
Posted Using LeoFinance
Thank you for your prompt feedback @khaleelkazi. I sincerely appreciate it! I am a retired Business Systems Analyst, so I know a little bit about what it takes "behind the curtain," to get all aspects of these complicated interfaces to work well. Your team appears to have a good “continuous improvement” mindset, so happy to do my small part to draw some “opportunities” (vs. problems …) to your attention.
The two you have listed will definitely help anyone future “newbies” attempting to try using LeoDex for the first time.
As for the UI posting issue, I have long been frustrated with the limitations of MarkDown, so my posts always contain a mix of MarkDown and HTML. As is the case with this one … I believe the issue, given the limited interaction I had with a Natural Medicine developer, is with the HTML I use to illustrate my posts. I have both an image URL, as well as a source URL. Something which MarkDown cannot handle …
If you wish, I can supply the actual code somewhere, to whoever you would direct me to do that.
Thanks again for your prompt response and adding value to this post! 👍
Here in America, Missouri is referred to as the 'Show-Me" state. While I only lived there myself a short time, my mother was born and raised there ... 😉 You have set yourself a "tall order" to try and overtake PeakD as the Hive blockchain's "go to" UI.
I don't know enough about the details, but have always wondered why there couldn't be some sort of partnership between the PeakD team and all of the various communities. Surely there must be some way to have a common UI and still have the needed / requested "branding" details embedded somehow ...
P.S. See, I have tried to remember to go back inside the LeoFinance.io UI and create this response ... Going to take some time to get "retrained" ...
Posted Using LeoFinance
As committed, here you go @khaleelkazi:
Decided to just "git 'r dun," as this day is pretty well shot otherwise. So, might as well ...
It all went smoothly, after confirming there was enough SWAP.HIVE this time! 😉 At some point, I will see about writing a follow-up post.
Posted Using LeoFinance
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STOPTo support your work, I also upvoted your post!
It is always very important that we users can show our experiences in the Leo ecosystem. Even though there are some problems but the LeoFinance team will always be willing to improve and that's what I like about them a lot. They are always attentive to resolve things. The community thanks you.
Thank you for sharing your LeoDex experience.
Posted Using LeoFinance
Yes @coyotelation ...
... I found that out today! @khaleelkazi was very prompt in responding to me here, as you will read above. And, as a result, I took the additional time to go ahead and complete my investing in more LEO.
With a dedicated team and community, we can both hope for a bright future for this portion of our Hive blockchain.
Thank you for stopping by and adding value to this post! 👍 👋
Posted Using LeoFinance
We will certainly have a bright future for LEO. Thank you for being a part of this.
Posted Using LeoFinance
Dear @roleerob, I don't understand your writing because of language and cultural barriers. I am ashamed that I do not understand your wonderful writing.
I understood your argument as a way to seek decentralization and the interests of individuals through linkages between blockchains.
I do not understand the mechanism by which Americans create communities and individual interests through the connection of communities and blockchains.
However, I will study by translating your writings.
Thank you!
Hmmm. In reading this response @silvergrifin007, I am once again left to wonder if there is some way I can help eliminate whatever confusion or misunderstanding there may be. For me, in reading it, all I can do is let you know it leaves with me and reinforces my impression of how deep the cultural and language differences are which exist between us.
Here is a specific example, as I do know know how this statement is linked to the content and point of this post.
Please ask any specific questions you have and I will do what I can to help you get them answered ...
Kind senior, thank you for your offer.
By the way, I am an elementary school student level in the United States, so I don't know what to ask. I need a lot of challenge and practice. I must learn through trial and error.
Now I'm little confused if this was a good experience or maybe there's some work to do. It's interesting knowing that there is a Leo Dex, I wonder what type of tokens are in exchange there, are the same as Hive Engine with tribe tokens or there are others?
I'll be attending on this financial adventures and developments!! Thanks for sharing, dear friend!!
Big hug and best wishes for all the projects!!
Initially, the desired transaction failed @leveuf. But, as we can see in the comments, the LeoFinance team lead got right on the problems presented to them and I was able to complete the transaction later in the evening on the same day I wrote this post.
While not all of the tokens on Hive Engine can be traded on LeoDex, one of the benefits is simply the reduced price of transactions, as mentioned in the post. Given how it is somehow tied to Hive Engine anyway, it is the least expensive way to get the SWAP.HIVE tokens needed for doing any trades.
With family and ministry commitments now behind me for the moment, "back in" for a bit this evening to catch up.
God bless you @leveuf and yours in these difficult days!