RE: Why is LEODEX Amazing? The end of the honeypot.

Good question.
I wrote another post expanding upon this very question. :)
You are absolutely right, Arbitrum Leo is a Wrapped token , it represents the value of Leo on Arbitrum.
The big difference is for Leodex.io trades, it lives only minutes.

Let me explan, how I understand it.
The honeypot exists when you swap for a wrapped token and use it for the investment, like the Cacao-LEO pool, you are right, somewhere there's a honeypot of LEO waiting for you to swap back your Arbitrum Leo to regular Leo.
The difference here is in the Leo to Bitcoin Swap, or Hive to Bitcoin swap. in those examples you are swapping Leo for Bitcoin, because you want Bitcoin, not to get your Leo invested in Maya.
So in that instance, for you the arbitrum Leo is not the goal, and it exists only to facilitate you getting Bitcoin. So you don't care about that Honeypot and in theory that Honeypot doesn't have to exist, because the arbitrum Leo can be burned at the competion of the swap.

The second point, is that the goal is to generate enough business that Maya creates the infrastructure to trade Hive directly for Bitcoin because the Hive COmmunity is a bug enough customer to make that cost acceptible.
Arbitrum is an atrractive enough ecosystem, that Maya has decided to build the infrastructure for direct trade, or direct wallet swaps between arbitrum wallets and Maya wallets.
The current limitations of wallet to wallet swaps for cross blockchain swaps is the creation of this swap infrastructure.
The infrastructure is a cost.
So in order for us to get Hive into the game, so to speak, is to piggyback on the arbitrum infrastructure.
ultimately we hope Maya builds the Hive swap infrastructure and then we will truly be free of Honey pots.