First Look at Asgardex
During the INLEO AMA where he announced the imminent listing of wLeo on the Maya Protocol, Khal also mentioned that he had a look for the first time at the Asgardex wallet for Thorchain and Maya. Like him, my interface of choice was ThorSwap for Thorchain before that, so I thought I should take a look too.
Thorswap is the most popular interface for Thorchain (but not for Maya). It is a browser interface, unlike Asgardex, which is a self-custody desktop app that needs to run from your computer.
Just like mobile apps must be present in both major mobile app stores to cover a wider portion of the mobile market, desktop applications must have distributions for the most important operating systems to maximize their impact without losing potential users or customers.
That's why, when I see the installation options of a desktop app, if all major operating systems are supported, that's a good sign.
Asgardex app has installers for Windows, Mac, and Linux.
For example, for Linux, they package the application both in the Debian format and as a AppImage, which is the default. I preferred the latter because all I needed to do was to download the file, set its permission to be an executable, and run it. It doesn't install anything, doesn't have any dependencies, doesn't interfere with other apps, etc. It's all self-contained.
The app itself is rather simple at first look.
You can import a wallet at first using a keystore file and password. I don't think you can import one later on, unless you choose to forget all the wallets used, maybe. But you can create any number of new accounts.
I chose to import my existing Thorchain wallet at first and created a new one afterward just for testing.
Where I lost a little time was figuring out how to get some CACAO on Maya using Ascardex. The process is simple once you get things right.
Step 1. Have Some RUNE on Thorchain
I already had RUNE on Thorchain. I'm not sure what's the least expensive and simple method to get it there.
When I moved them to Thorchain (a long time ago), I used probably BNB on BSC, moved it to TrustWallet, swapped it to RUNE, and then used it on ThorSwap as needed.
Step 2. Make Sure You Are on the Maya Protocol in Ascardex
On the wallet page, make sure you are on the Maya Protocol.
It should say "MAYA", not "THOR" in the top-left corner. Like this:
You will still see your holdings from a wallet created on Thorchain. Including your liquid RUNE.
Step 3. Swap RUNE to CACAO
CACAO is the governance coin of the Maya Protocol like RUNE is for Thorchain. You need to swap some RUNE to CACAO. It helps pay fees too. To do that, you choose Swap from the Actions button at the right end of the RUNE line.
Note that I only had a little bit of BNB liquid other than RUNE and couldn't tell if they couldn't be swapped for CACAO because BSC isn't yet integrated with Maya or for a different reason. All I know is what I read in Khal's posts, that a Maya aggregator for Thorchain assets will follow soon.
That should be it. Normally you'd be able to use the Maya Protocol now. I haven't transferred enough funds to be worth doing anything else, so I'm waiting for the wLeo listing. Although, with wLeo on Ethereum and with the fees there, I don't know...
Want to check out my collection of posts?
It's a good way to pick what interests you.
Posted Using InLeo Alpha
I haven’t heard about this before
I’d check if we can use it here in Nigeria
You can. It's self-custody and decentralized. An application you install on your computer and nobody can stop you from connecting to Thorchain or Maya using it.
I didn't know about this thanks for sharing the topic nicely though I missed khal's AMA.
You can still listen to it. There are more topics discussed there.
Exciting to get a first look at Asgardex! It seems like a promising platform, especially with features like multi-network integration and a strong focus on security
Yeah, it's not as feature-rich as ThorSwap at first glance (doesn't support one-side LPs, for example), but it compensates on the security side.
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Thank you so much for sharing this information
Initially I was hesitant about using it since it needs to run on the computer instead of a browser. But having read some of your comments, and how it prevents outside control, makes it better. Reading wLeo will be in Etherium does put cold water on my enthusiasm though. The fees could be horrible.
wLeo already exists. I guess the main factor was that Maya already integrated with ETH but hasn't integrated with BSC or Polygon (and maybe they don't plan to since Thorchain already integrated with BSC).
Oh, I didn't know that, or the other details you mentioned. It is looking like it will be complicated with the different jumps and blockchains involved.
You'll get used to it. Whatever route we take, if we avoid CEXes, it will involve one or two intermediary platforms before we reach native Bitcoin or Lightning, and then fiat.
I dont know if it's just me, but seems complicated
It seems so, especially if you aren't experienced with defi and different ecosystems. If you are, it isn't. INLEO will provide its own interface which maybe will make things easier.
I haven't bothered yet because I don't really have any RUNE on Thorchain. I am interested in seeing how things go later if we can access it just from hive though or if we need a Maya address or not.
Well, INLEO is working on an interface for that. From what I understood it's an affiliate interface provided to them by Maya or Thorchain team or someone in those circles, they just have to customize it for INLEO and will earn affiliate fees from people swapping using that interface. Those fees will be used to seed further the wLeo-CACAO LP.
You will need a Thorchain/Maya wallet, but that's very easy to create using either Asgardex or ThorSwap.
Thank you for this quality information
The good thing is that this kind of update gets more people interested in the project and when things get more traded, their prices start to increase.