I wanted to get into the habit of posting more on Hive / Inleo so I'll just use this opportunity to get started...

I've been following the recent developments around $LEO, LeoStrategy and all the stuff very closely, which means I was also one of the first people to stake for sLEO and was waiting for the USDC rewards to start yesterday. I want to share my experience and basically use this post as kind of a container for the issues that I find; everyone feel free to share yours in the comments, as well.

1. Not able to log in with Metamask

I've never had issues with logging into LeoDex before, it basically started today. I click login with Metamask and it just says "No wallets connected". Maybe I'm the only one with that problem, but it's weird, no matter which chains I select.

2. Information on the LEO Dashboard is stale

When I go to https://leodex.io/leo the recent activity is days ago, while there's been stakings and unstakings much more recently according to onchain data. Therefore I cannot trust any of the data on there, including the daily rewards, especially as it's saying $10 LEO:

3. Rewards are displayed incorrectly

I've got credited with 0.004 USDC in rewards for my stake, but sometimes the UI displays 4 USDC. This seems to be a display error, as I see the lower amount when I actually try to claim.

4. Lack of transparency about rewards

The UI displays 10 USDC, but the staking smart contract was credited with 100 USDC last night. Both seem like awfully round numbers; it would be great to understand how many fees have actually been collected and have those exactly added to the rewards. Based on my calculations of my sLEO vs all sLEO it's closer to 10 USDC, but then the question is why there were 100 USDC sent to it, etc.

5. Staking time independent of rewards

The worst part actually is that it seems it doesn't matter when you stake for sLEO, you'll be eligible for rewards even if you hadn't staked anything when the rewards were transferred. This wallet staked a few LEO and was able to claim some rewards 30 minutes later:

This would mean that someone can just come in, stake a lot of LEO, claim a lot of the previous rewards accumulated and then unstake again immediately. I'll be experimenting with this a little to figure out how it really works.

Conclusion

Maybe it's all about explaining how it's really working, but overall my first impression is that there's a bunch of things that still need fixing when it comes to LeoDex staking rewards. Don't get me wrong, I'm still excited about it, which is why I want to help figure everything out.

Posted Using INLEO