When Will Buying For SWAP.HBD Option Be Implemented on Hive-Engine?
Today should have been the day for my Splinterglossary update. But it didn't make sense to write one, since I can make an abstract in one word: nothing. I didn't add anything to Splinterglossary this week, being focused on other things, the new UI from Leofinance being one of them.
But also this week, @SPinvest announced a future (but soon) project of theirs.
In one sentence, the project means trading SWAP.HIVE for a basket of high market cap coins, wait 2 years (during which some adjustments are made), then sell everything and allow initial investors to buy back into SWAP.HIVE, most likely at a consistent profit (in dollars).
After I read the project, I had one question:
"Why not sell the project token XV for HBD instead of HIVE?"
I mean, HBD is stable-ish, HIVE is likely to go up with the market, maybe not at the same multiples compared to other coins, but still, go up during the bull market.
The answer demoralized me... "You can't sell on Hive-Engine in HBD". That's true. And such a loss in my opinion. This is a perfect example of why it's a loss, but there are many others.
Here's the entire exchange of replies:
I know at least some of the Hive-Engine team are involved in other important projects (Splinterlands), and I know this is not a trivial update, but adding SWAP.HBD as a pair to trade for on the order book would be beneficial.
I know there is the option to create a diesel pool between one token and SWAP.HBD. But that requires the creation fee to begin with, then initial liquidity added to the pool, and eventually rewards to attract other investors to provide liquidity.
As you can see, even established projects are not always considering paying these costs in some situations. And I am not making any remarks about the fees being high or fair. That's for others to decide. I am not in the position to create such a diesel pool, to analyze the fees and costs involved.
Actually, I believe if SWAP.HBD would be a pair option on the order books on top of SWAP.HIVE, more diesel pools containing SWAP.HBD would be created too. Because that offers the possibility of arbitrage between the order books and diesel pools, where SWAP.HBD is part of the equation.
What do you think? Does it make sense to be able to sell any tokens for SWAP.HBD directly on Hive-Engine (via order books, not diesel pools)?
Posted Using LeoFinance Beta
The hive engine needs a good revamp, to be honest. The UI is not as slick as some that I have used. But maybe they have some other priorities.
I only go to their site if I want to check out the lease market. Otherwise, I use tribaldex or, sometimes, beeswap.
Try leodex. i think it's good and always use
Nah, leodex needs a major revamp. It has no diesel pools, for example. I only use it when I want to $ value of a HE account. Ah, and if I want to change the reward multiplier.
Ah, ok, i stick to the simple stuff, powering up, delegating. No pools for me!
I am agree with you, most of the big projects have the option that you can SWAP your tokens directly.
Yes, there are multiple advantages to having a SWAP.HBD pair too. For example, HE tokens won't automatically go in the red (which, for some, could be stressful) when HIVE pumps.
There is logic in your statement, strongly agree.
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Hi @gadrian. Why won't they allow the SWAP.HBD? Do you know or did you already say why. It's still hard for me to understand everything. No offense.
Barb 😊
Posted Using LeoFinance Beta
Probably they are busy doing other things and this is not an easy update to make and, unless people really want it, they don't see a clear benefit in adding it, compared to other projects they can do these days.
SWAP.HBD would be like USDT, game changer for the HIVE ecosystem.
I don't know if we should compare with USDT, but having SWAP.HBD / any token pairs + the matching charts and order books would grow the demand for liquid HBD a lot. And it would give HE tokens a more stable token to pair with.
It’s easier to understand change in value against something stable. HIVE is too volatile.
Absolutely! I don't know, maybe we'll have other units of account in the future, but for now, this is what we have and everyone understands it. And this is one of the things that would bring more adoption. Ease of use.
I think HE does need an update but I don't think I have really heard of anything new after outposts were released. It makes me wonder if there is anything happening on that end and I think having a HBD/HIVE market would be enough to use as an in-between.
Posted Using LeoFinance Beta
They released leasing on the hive-engine site. And some updates for diesel pools, highly requested (history of pool reward distributions, for example).
I don't think having the HBD/HIVE pair is enough, not by far. We need HBD/any token pair, and we need it soon.
They are in maintenance only mode right now. Guessing just not trying to spend on dev hours during the bear market. I have been asking for some updates for the outposts and that's what I was told last time I chatted with an HE dev.
I'm not sure but I think maybe there isn't enough demand for it yet so the team won't bother creating it. Having a stable-ish token to swap back and forth could be a game changer for HE.
It's a problem if there isn't a high demand for it. We need it! It's not the first time I ask for it. But I am one person.
I totally agree with you. It should be in such a way that anyone who wants to convert their coins to HBD can do so on hive engine. If done in this way, it will create a lot of convenience for the users.
That's true, and it's more than convenience. For business purposes, it's better to have a stable token to be priced in (HBD) than a volatile one (HIVE).
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Thanks.
Yes, Adrian.
I agree that it would be a plus to have a stablecoin to work with.
It will be interesting to see if someone picks up the ball on this.
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Well, I believe only the Hive-Engine team does development for their backend. But they should do it because it would be a big addition to HE and businesses built on it, and to the users.
Disel Pools allow you trade directly the HBD BUSD pair. https://tribaldex.com/dieselpools/pools
@brianoflondon's https://v4v.app allows you to trade directly HBD/BTC.
I already mentioned diesel pools. But it's one thing to have diesel pools for some projects (most of them have SWAP.HIVE pairs anyway since they won't pay the fee and assure liquidity for two diesel pools) and another to have pairs by default with both SWAP.HIVE and SWAP.HBD for all tokens by default and with the UI integration that follows for those using order books and the charts.