Liquidity pool on Hive

avatar

image.png

Liquidity pools are the trendy thing in crypto right now and different blockchains are hot on the heels of the fad. It might have all started on Ethereum blockchain, but Binance Smart CHain, ThorChain and a bunch of others have already made giant strides.

I understand the basic concept of how liquidity pools work, but some aspects go over my head. However, I also know that for many others like me who struggles with balancing and whatnot, there are applications out there that simplify the process.

The introduction of TribalDex and the incoming LEOfi will invariably open up a portal for the development of more tools like balancer on Ethereum, that will focus on simplifying the activities on liquidity pools.

Available pools

image.png
link

At the time of writing, there are like 12 pools on the decentralised exchange to do the liquidity thingy with.

All the available pools have a common denominator: Swap.hive. I guess because it is the easiest to access.

Easy access and low transactions

I think what makes this Dex special is that it is easy to access and will not come with the accompanying fees that you'd find in other blockchains.

It is also pretty easy to create your own pool and you pay 1000Bee for creating it. Adding liquidity, on the other hand, is totally free and I tested it out on the Hive versus DEC liquidity pool.

First of all, I think this is an opportunity for Hive based tokens and of course to bring some swap versions of Bitcoin, Ethereum and others. There's already Litecoin, and Doge pools against Hive, and you can contribute to them for absolutely free.

I'm going to be testing out with other Hive-engine coins. I'm also interested in the effect this will have on the WorkerBee token as well. If tribaldex ends up getting a lot of attention, it will bring a lot of eyes looking at Hive and will also give the worker bee token a boost, since, for the first time, the token actually has a real use-case.

In the time that has past, the WorkerBee token has seen a substantial rise in value. It currently trades at 0.9Hive and I don't think I have ever seen it get that high. If you include the importance of the token, with respect to hive-engine witnesses, I think it might be a potential moon coin and something you should keep your eye on.




Please check out my Freelance gigs:

Signup for Oropcket with my referral link
Signup for Presearch: A search engine that pays you

Contact me


Posted Using LeoFinance Beta



0
0
0.000
16 comments
avatar

Yeah I'm also still slow on the uptake of liquidity pools but they have picked my attention.

I'll eventually get around to them.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Hive makes it easier and less risky, since it is a place we're familiar with.

I played with LPs on Uniswap once and lost $7 in a failed transaction. Worse part is that I didn't even know what I was doing. I just clicked a bunch of shit, saw "failed" and my Eth left my metamask.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Good timing on this one. There is truly a lot going on right now in Hive so I'm glad you pointed this out. I haven't had much of a chance to check out this aspect of Hive yet only back for a couple weeks but this gives me a good place to start. Thank you!

Posted Using LeoFinance Beta

0
0
0.000
avatar

These are just so people can trade right? Or does it gives dividends?

0
0
0.000
avatar

Just for trades for now. Rewards and smart contract thingies will be added eventually

Posted Using LeoFinance Beta

0
0
0.000
avatar

If pools start rolling out incentives this thing will gobble up coins like crazy, drive up the price and make it way easier to get in and out of tokens, probably one of the better projects i've seen in a while. Only other thing is if they can slap the swap widget into the keychain and on various front ends that would be epic.

0
0
0.000
avatar

Things are about to get pretty good for hive. I like this. I like the fact that we are tapping into the liquidity pool craze. In retrospect, this didn't have to happen from the top. Forwarding thinking people come up with brilliant ideas from every corner. This is why you cannot bet against hive

Posted Using LeoFinance Beta

0
0
0.000
avatar

Good times man. WHen rewards start coming from the pools, things will even get crazier

Posted Using LeoFinance Beta

0
0
0.000
avatar

so this is the reason you want to keep the liquid LEO?
more to come from hive and leo. awesome

Posted Using LeoFinance Beta

0
0
0.000
avatar

Nice the new update and addition jn blockchain make it more interesting....
Thanks for sharing...

Posted Using LeoFinance Beta

0
0
0.000