Point of failure? Outrageously low liquidity when converting swap.hive to hive
When converting SWAP.HIVE for HIVE I noticed liquidity was low AF for pristine HIVE.
Are there any other bridges to convert swap.hive to hive?
If not I must say if you own a f-ton of hive engine tokens then the hive engine exchanges that deal with HIVE derivatives have a vice grip on your funds. Just saying.
For those veterans of HIVE how do you navigate this discrepancy? Do you not mess with hive-engine tokens and keep all your HIVE pristine?
Because I must say liquidity for converting SWAP.HIVE to HIVE is weak AF.
I love Hive but having your funds held captive goes against the whole spirit of decentralization. You should be able to move your funds anytime, anywhere. Settlements is where big banks do all the shady stuff.
Please leave a comment and let me know.
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The liquidity between Hive and swap hive changes quickly.
Sometimes you can wait 10 minutes and see the amounts switching because someone swapped 3000 hive for swap.hive or more.
You can also try by the "Withdraw" button on hive engine. I think they are the one with the biggest liquidity
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Thanks for this info. Something still doesn't smell right though, with all this low liquidity. i know airdrops are coming and people need hive but still man. feels like im nickel and diming with a corporate bank.
Aha yes, I don't know how do they work, do they use some of the fees to increase the pool ?
Otherwise the only way to make it better is to swap hive for SWAP:HIVE :')
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Lol. don't get me wrong i like beeswap. yes it be cool if there were diesel pools in tribaldex to swap between swap.hive and hive. but not sure how that works. I mean maybe one day if SPS becomes HUGE, I guess that could become a nice little bridge. Until then I'm keeping my HIVE pristine. But thats not too comfortin as it too is difficult to unload especially for those in the US. Bittrex i hear has had issues. There's work arounds but its not ideal. Given the drawbacks of unloading and loading HIVE token I still believe in the project.
For me - I only use swap.hive as the bridge to something else. So I buy - and then swap it. I have a feeling that most people are doing that too - they don't just hold onto a bunch of swap.hive (not usually) that's been my experience hhehehe
but i could be wrong ;)
shhhhhhhhhh i'm going to juice! don't yell at me! i'm going i'm going hahahahahaha
haha ill come bug you if you dont finish that juice.
yes, but if you hold hive-engine or layer 2 tokens aren't you essentially holding swap.hive? i guess at the end of the day its no big deal since the liquidity for most layer 2 hive engine tokens is relatively low.
but still not sure how i feel about being semi-hand tied when trying to bridge out.
Most of the second layer tokens are on the order book and Swap.hive is pegged asset managed by Tribaldex so most just pay the 1% fee for deposit withdraw. Maybe if they wanted more liquidity in the pool they would incentivize it.
I don't see that pool on engine though so I assume it is backed by Hive pay? Which makes it centralized to that service itself. Fair enough same can be said about Hive Engine (Tribaldex) but there is a Hive:HBD pool from users and others. Hivepay is just a single wallet building on top of a bigger platform. So liquidity is their business problem so to speak.