De-Fi on Hive - BXT & BeeSwap
Hive is one of the best blockchains for De-Fi, GameFi and SocialFi projects as it provides free and nearly instant operations. In terms of GameFi and SocialFi, Hive is already among the top projects, however, De-Fi on Hive is still undervalued.
As Splinterlands, LeoFinance, and other social and game tokens attract hodlers in Hive Layer 2 markets, the volume and the diversity of the tokens increased in time. As the number of tokens increased, the number of markets followed the trend to provide a better experience.
In the bear market, the projects hardly supply rewards for the Liquidity pools that crypto investors utilize to exchange one token for another. However, the decreasing APR also gives birth to lower value locked, fee generated, and users daily. In many major De-Fi services, the APR of LPs do not exceed 10% while the exceptional ones are less known risky tokens.
Hive De-Fi via BeeSwap
I visited BeeSwap to check the situation of my PKM/SPS liquidity pool and I realized that I had some Swap.HIVE tokens. As it is the HPUD, I wanted to turn the tokens to HIVE to power up.
When I swapped my Swap.HIVE to HIVE token, I did not pay any fee for this swap, also, I was rewarded with some BXT token!
If you choose this route, you do not pay any fee and receive reward from the platform. Imagine, I had some Swap.HIVE before the swap but, afterwards, I had the same amount of liquid HIVE + BXT Token. This is something huge for a service provider.
BXT Token Matters
BXT token is a passive way to earn liquid HIVE daily by staking it. The staked BXT token holders are distributed 50% of the fees generated by BeeSwap.
If you are looking for some useful tokens that brings you daily drips, BXT may be one of the best ones in Hive ecosystem.
The token has always been traded around 2 HIVE per 1 BXT and there are several long term hodlers of the project.
I questioned the reason why would anyone choose BeeSwap rather than other options.
Only 0.25% Fee on Swaps
Normally, I was not using BeeSwap for swap operations. I wanted to stress-test the facilities of the platform that I used and BeeSwap.
I swapped 10 DEC for BEE on both platforms:
The platform that I used sent me 0.05069 for the transactions.
BeeSwap, on the other hand, sent me 0.05082 for each swap I made. As the amount is quite low, it may not look like a huge difference but the swaps on BeeSwap provided better return.
Meanwhile, as a BXT Hodler, I'll receive half of the fees generated by the platform. It is like buying a share of company 😉
Personally, I enjoy the way the liquidity pool rewards the liquidity providers. You can use your tokens for LPs and receive up to 40% APR for them.
Swap and earn BXT, swap and generate fees to receive and provide liquidity to get more BXT rewards. Then, stake for daily HIVE drips... The system of BXT token is really promising. We have special thanks to the developers for contributing Hive ecosystem!
Hive On ✌🏼
Posted Using LeoFinance Beta
I'm also a massive fan of our own implementation of DeFi on Hive.
For all their obvious centralisation drawbacks, Hive-Engine have still allowed the community to build a robust layer-2 ecosystem on top of the decentralised Hive blockchain.
What is the best Hive DeFi LP?
For me, the best Hive DeFi LP is by far the SWAP.HIVE:SIM LP.
Not only does this pool allow you to earn numerous different tokens to maximise your APR, but its integration into the dCity game means you can also earn HIVE holding rewards too.
The team has set it up so when the price of SIM falls, and therefore those in the LP gain more SIM via impermanent loss, your HIVE payouts will increase.
A really smart balancing mechanism for the SIM token.
Don't sleep on the SWAP.HIVE:SIM LP!
Posted Using LeoFinance Beta
De-Fi on Hive is amazing. I'll check SwapHive -SIM LP, too.
Thanks a lot ^^
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Wow, I never knew the Beeswap has such benefits, I will look into it and do the needful. I love the part that I don't get to pay fees for swapping from swap hive to hive.
Thank you for sharing this with us, happy new year sir 😊
I did not like the fee paid to convert Hive to swap.hive and vice versa. I liked this. We don't even need to convert Hive on Dlux dex, but there are a few trading pairs.
Posted Using LeoFinance Beta