Adding Liquidity to Colony Pool

I have been planning to increase my holdings/assets in Hive Blockchain. Which is why I have been trying to create contents, keep on interacting and do what is needed to be done in order to increase my assets in the blockchain of HIVE. I have set some targets for which I am working as planned. So far I am not doing as much as I expected but it is something that I would really appreciate from the POV that I am sitting now. Among many of the targets which I plan to full fill, one is increasing my positions in liquidity pools within the DEX of Hive Blockchain.

I plan to achieve the target of 100k Colony Tokens in the liquidity pool and with that amount of matching Swap.HIVE in the pool. To be honest it will take quite a lot of time in order to make that happen but small steps towards the target makes it easier to reach the destination than doing nothing at all.

My Current Position in TribalDex for Colony:SwapHive pool

As of writing this post, I have currently SwapHive of approximately 38 and matching with this amount I have approximately 40k Colony Tokens in the pool. The market value of this liquidity position is approximately $17. Well the decline of HIVE price really got the best of us. As couple of days back, when I was sharing an update of my pool, it reached to above $30. Which is probably nothing but in terms of percentage it is quite a dump in price action. Either way, I plan on keeping the liquidity as long as possible for my target to reach ASAP.

TIME to put up some liquidity

Now that I have some spare HIVE, which I intended to use up, my thoughts were either they will go as powerup or they will end up in the liquidity. Which was sort of difficult to take the decision but later the pool decision got the upper hand and here I am. So I decided to convert some of the HIVE to colony Tokens visa BEESWAP.io and I must say the UI is smooth and it was very easy to use.

I already had some COLONY tokens in my wallet in HIVE-Engine so I did some math and brought the amount which suited best for the time being. So upon converting 5 Hive I got 5199 Colony tokens and upon adding up the 2696 Colony Tokens, the amount sums up to 7875 COLONY tokens. Purchase of Colony token is done and lets move to the next part of adding up the liquidity.





As you can see, it took me 7.55 Swap:HIVE to max the number of Colony Tokens in the pool. At present my pool size tokens are literally worth nothing. But I am quite sure this scenario will soon start to change once my positions starts to get bigger in the coming days.

The size may not be that much but I am getting closer every to my goal, as I add up the liquidity in the pools. Which is why small actions may not be unnoticed but they sure boosts up the spirit and help to go further along the road. Although, I am half way to my target and so far I am enjoying doing these small tasks which are helping me to keep on going within the chain and the grinding must go on. Which is why every effort, no matter how small or big it is, it will always be a positive sign for us all. As these small habits eventually becomes habit which changes the course of ours in a very positive way. So keep building, make progress and do not stop at all cost!

_{Image Source : Beeswap, Tribaldex}

Best regards

Rehan

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