The advantages of the Liotes Dieselpool
We had some difficult times behind us and we couldn’t work as we had wished. However the project is still on track. It’s possible that it will take a little longer for us to finance the Liotes Dieselpool.
On Hive liquidity pools have a different business model
When comparing Dieselpools on Hive with other liquidity pools, there is one big difference. Most of the Defi liquidity pools are financed by a fee that is taken whenever people deposit/withdraw or swap tokens. This is different on hive. There are no fees linked to transacting with Dieselpools which makes them very interesting.
For liquidity pools it's these fees that actually finance the return for the liquidity provider. On hive there is no such thing and adding rewards to these dieselpools comes from the pockets of the creators of the pool or from minting new tokens.
A liquidity pool fed organically with new rewards
For the Liotes Dieselpool that will pair LENM and LEN, this will be different. This dieselpool will actually be fed by a percentage from our secondary income sources. At the moment 80% of these secondary income sources is reinvested into them. 10% goes into the fund and 10% goes to admin. As soon as the Dieselpool goes live, a percentage of the income will go into the rewardpool linked to the Dieselpool. This means that still a big part is reinvested which allows these income sources to grow. This also means that the reward pool will be fed regularly from these sources.
A liqudity pool with little dilution of return
Another important aspect is that our supply of tokens is kind of limited. There are only so many LENM and LEN tokens in circulation at the moment. There are only so many tokens that can end up in the dieselpool. The more money is in the liquidity pool, the less everybody earns. With our Diesel pool, we have two big advantages:
- The reward pool is fed constantly with new tokens in an organical, sustainable way. It will therefore grow over time
- The number of possible tokens in the liquidity pool is limited by the supply of LEN and LENM tokens available
We believe that the APR of this Dieselpool will be quite stable for these reasons and therefore it might be an interesting investment also for people outside of the Liotes community. This might help us to sell more LENM tokens. The proceeds of these sales would then grow the whole ecosystem of our project and everybody would profit from it.
As of today this is the state of the funding:
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Liotes
A project run by @ph1102 and @achim03
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Nearly half way there! The pool will be open before you know it. Keep up the good work. !LUV
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We sending these bees from all the accounts and it's nice to see how they accumulate. Hope we will reach it before too long :-)
I have one question about diesel pools. Maybe you have an idea.
I've heard if you pool often you miss out on the next day of rewards, for the entire liquidity you provided, not just the part you add. Have you noticed something like that or do you know it to be true?
I don't really know how to check a history of reward distributions for diesel pools for my account(s).
So far, I couldn't find a way to track payments from Diesel pools. I can't really answer your question because I hadn't been aware of the problem. Now that you said it, I will try to figure out a way to check it. If it was the case, this would be a major problem...
Yeah, I know... I used to add to the diesel pools daily. But now I hold off and will do it weekly until we have a clear answer.
Anyway, the simple fact that we don't have (or don't know of) a way to track down diesel pool reward payments is a pretty big issue. One that needs a solution. I wrote about it quite a while ago, but understandably HE guys have better things to do than to read by posts.
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If you deposit, for example, 1000 X and Y tokens, and then you remove them during the same day, and then put them back after a few hours, I think you will miss the next rewards...
I think that I had once that I didn't receive rewards as I have provided liquidity just 3-4 hours BEFORE the rewards schedule... But, not sure as it was a long time ago...
This probably didn't help... :D
It partially helps. This also needs to be clear. But we are in the early adopters territory and not everything is clear or flawless.
But you are right. That's not the situation I was describing. I was describing a simple liquidity addition, without removing any.
By the way, I learned about this potential issue from @thebeardflex here. He also replied to my comment where he confirms missing rewards is for the entire liquidity provided, not only for the added amount, from his observations.
Hmmm... I'm adding regularly every day small sums of liquidity to almost every pool where I am (4-5) and I didn't notice that I had some skipped payment...
Maybe it depends on the specific pools?
I don't know. Do you have a way to check diesel pool reward payments? I find it very difficult, because there aren't normal transfers you can check out and otherwise most of us have small payments coming every day from various income/dividend projects, so, how do you actually know you get them?
Maybe the only way to test this is on a fresh account with one diesel pool. I might try that.
I don't know how to check these payments as they don't show in the explorer (as some other similar things)
I usually put my tokens "into orders" so I have a clean sheet at the end of a day... In the morning, if I have additional funds that are not recorded in explorer, that's diesel pool 😂
I know it sounds stupid, but it's the only way that I can think of... :)
For example... I had 0 PIZZA and 1M STARBITS before going to sleep... :)
my balance:
rewards in pizza:starbits pool... according to my LP
And I do EVERY day reinvesting to this pool... for more than a month...
Yep, that's the only way I believe they can be checked right now. But that's a lot of daily work you do with the incoming micropayments from INDEX, BRO and the like...
I really hope there will be a way to check on these easier in the future.
And here's another issue: if you have liquidity in multiple pools, some having in common one or more rewarded tokens, how can you differentiate what comes from where?
Most of my pools are diversified, so there aren't that many tokens "overlap"... And personally, I don't like INDEX, BRO, and other similar tokens and I don't have them a lot at all (except UTOPIS)... Most of them have poor ROI under 4-5% and there is no sense collect breadcrumbs...
Yeah, I don't know anyone who enjoys these breadcrumbs...
That's why I thought this might be a good idea.
That's a nice idea... Now, you just have to find a developer to do it! :)
Just wondering, will the LENM in the diesel pool still mine LEN or is it being equally distributed to everyone else who staked?
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It will not mine as it has to be staked (LENM)... So, if you want to provide liquidity to the pool you will have to "deposit" liquid LEN and LENM tokens in it and you will receive rewards for doing that...
!LUV
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That is awesome progress in just a short time! Have a !PIZZA to refill your energy.
Thanks for your support and !PIZZA
So, as I understand it, both LEN and LENM have to be liquid, which means that LENM will have to be unstacked. But that takes time, right? 3 weeks or what? I have all my LENM tokens staked ... need to buy some more 😎
You can unstake your LENM, or buy them... Yes, both have to be liquid...
We didn't want to "blackmail" people with long unstaking period, so for LENM unstaking takes ONLY 3 days... ;)
Cheers!
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I have ne greates buying into the Liotes project. SO far, it's been a win all the way. Looking forward to the LENM: LEN dieselpool.
I think that the diesel pool will provide a lot of new options for the ecosystem.
What's the roadmap for the LEN dieselpool?
We plan to create the dieselpool before the end of the month. It depends a bit on how much Bee's we manage to collect.
This pools are new to me. I would love to learn more about the way they work. I will be investing in this one to support the project.
When we launch the pool, you can expect to see tutorials how to join it, provide liquidity and earn rewards... ;) No worries!
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