As Penrith face a salary cap crunch, Leota - contracted with the Panthers until the end of next year - has been given permission to gauge his worth with rival clubs.
While it doesn't mean Leota will automatically leave the Panthers, the prop could certainly command significant interest elsewhere in the NRL.
Leota turns 31 this month and, as well as being a key part of Penrith's premiership dynasty, has been a great sounding board for Smith.
"Moses has been instrumental for my career as well, coming into first grade," Smith told AAP.
"It was him and 'Fish' (James Fisher-Harris) who were the front-rowers who have really taught me a lot.
"I guess nothing is set in stone yet and he still could be a Panther for many more years to come.
"It's something no one really looks into too much, it's all talk and there's still another year and a half with him and I can't wait to play every moment with him … hopefully he sticks around."
Smith will pack down at lock against South Sydney as the Panthers look to overcome the absence of Nathan Cleary, Isaah Yeo and Liam Martin to NSW State of Origin duty.
Penrith have worn their ability to withstand Origin-enforced absences as a badge of honour over the years as Ivan Cleary's side have become a force, but will enter this Friday's meeting with the Bunnies following successive losses to Gold Coast and North Queensland.
"Yeo is one of the best players in the comp but you can't look at what we're missing," said Smith.
"You've got to look at what you can add to the side and I've got to bring my best come game time.
"You come into a week like this off the back of two losses without some Origin players, and you get to go up against a good side, it's a really good challenge."
Since the start of 2021, the Panthers have won 82 per cent of games where Cleary, Yeo and Martin have all taken the field.
But their win rate without the trio in that timespan is just 50 per cent, a ratio back-rower Scott Sorensen would love to help bump up with a win over the Bunnies.
"It's awesome for all the boys to go into the Origin, to get all those experiences and bring those lessons back to the club," Sorensen told AAP.
"The other flip of the coin is you got all these younger players that come through and get an opportunity, so really it's like it's such an exciting time.
"It's challenging and in the past we've had Origin periods where we've been really good, and sometimes we haven't been so great."
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