I've written a few articles on Leonicorn Swap (LCS)—the forthcoming DEX on the BINANCE Smart Chain platform—I bought in early and have been accumulating ever since, I've seen impressive gains, despite its DEX pending and I expect great gains after DEX launch. Today I will discuss the latest developments, following the successful launch of native single token staking of LEOS.
Staking
The team behind Leonicorn Swap—keen to reward early investors and demonstrate the trust and fervour the community has shown—launched single token staking through their website for holders of the LEOS token. Impressive APY rewards were available for those who committed to locking their tokens for staking periods of up to a year, the uptake was extraordinary. The rewards are being paid directly from the team's token pool, the same pool also used to offset the 3% transaction fee, that features as part of the LEOS tokenomics, meaning that investors stand to gain the full benefit of their staked assets.
Today staking is completely sold out, with a over $4m TVL locked on the platform, most tokens having been locked for a full year. The original offering of rewards sold out in only 4 seconds, with over $1m of LEOS locked in startling time, as holders scrambled to stake their tokens. The CEO of Leonicorn Swap was so impressed by the community up-take that the remaining team tokens were made available as rewards and TVL was extended to the total we see today.
LEOS token
The LEOS token itself has shown solid support at the $0.45 area, with impressive daily trading volumes, across the CEXs and PCS on which it can be bought. There remains huge room for price growth in the coming weeks as the platform launches its utility token LEON. The LEOS token, with its restricted circulation, high burn rate, and with so many tokens locked in staking, is primed for supply shock. Once the DEX is live the ecosystem is to be constructed to facilitate the funneling of platform value into the LEOS token.
LEON token
The LEON token—set for launch in September—is to be the auto minting/burning utility token of the Leonicorn Swap ecosystem - the exact details of its launch will be available in the Leonicorn Whitepaper v2.0. To buy the LEON token in the public sale investors must hold LEOS, with the quantity of LEON available to buy being linked to the number of LEOS held. In addition to having access to the LEON pre-sale, LEOS holders will also receive an airdrop of LEON tokens, 1 LEON for each 10 LEOS held. The exact details remain unknown until the updated whitepaper is published, but it is very clear that investors wanting to get involved in LEON need to ensure they have secured a supply of LEOS before price pressure comes to bare.
Whitepaper
The 10th September sees the releases of the Leonicorn Swap Whitepaper v2.0 which will finally spill the beans on the exact tokenomics of the LEOS/LEON economy. This hotly anticipated document should mark the start of an acceleration of the Leonicorn quest to DEX dominance. The paper should bring clarity to
- Date and mechanism of LEON airdrop.
- Operation and sizes of LEON pre-sale allocations.
- LEON tokenomics
- Updated roadmap
- DEX features
Rumours and hype
A forthcoming partnership with a significant player in the gamified NFT sector has been mentioned by various members of the development team, as well as partnerships with a top 15 cryptocurrency project. Partnership announcements and a marketing drive are currently being held back until the DEX launch date draws nearer. It is reported by the team that a significant number of partnerships are planned for launch through the DEX IDO feature. It is clear that once a launch date is pencilled in that a significant market drive will pave the way for significant FOMO—I for one have no intention of leaving my accumulation until after FOMO price action arrives.
DEX launch
Following some significant security breeches in the DeFi sector the development team made the decision to make security the number one priority and duly the DEX will not be launched until the CTO is fully satisfied that the DEX is secure. The DEX code has been sent to Hacken for a complete audit, and currently the only brake holding the Leonicorn Swap FOMO hype train back is the lack of a firm launch date. As soon as the Hacken audit is launched expect to see Leonicorn Swap propelled to the fore.
Personally, I like to keep a portion of my portfolio invested in pre-launch projects, there is no denying the risks are greater and research is critical, before sinking your money into any pre-sales. The yields that can be extracted from getting in early on a project dwarf those received through lower risk investments—such as top 5 tokens—what is important is to develop a plan and stick to it. Whether that is to buy and sell early taking advantage of an initial post listing pump, or buying early and HODLing, decide what you want to get out the project and plan your entry and exit points. It is undeniable that LEOS have already seen some positive price action, but given that we are pre-DEX and the access to LEON that LEOS unlocks I have little fear about investing more of my money into this project. We are all of us, still very early.
Community
I have never encountered a community with the spirit of Leonicorn—the Telegram group in particular is a vibrant, friendly and informed forum, with high activity and engagement from the entire development team—who are keen to develop the platform in a way that empowers the community. The CTO has reached out for community suggestions, and will host voice chats to gather and discuss community proposals, particularly in the sphere of developing an innovative DeFi NFT platform.
As ever look out for fake social media platforms, due to its growing success Leonicorn Swap has sadly started attracting scammers.
