How to use the Splinterlands Liquidity Pools: a tutorial
A couple of days ago, I presented the new liquidity pools on Splinterlands in a post. Through the comments I received to this post, I realized that many didn't exactly understand how these pools work. I thought it might be a good idea to make an extensive tutorial about it!
Resources:
Splinterlands Liquidity Pools
Tribaldex Swap
Tribaldex add liquidity
Tribaldex remove liquidity
Bee Swap
P.S: The thing I didn't remember in the video is actually called impermanent loss...
Thanks to @hirohurl for inspiring me to do this post
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2.27844889 BEE
SPS - SWAP.HIVE These pools look good.
Thanks for sharing the Splinterlands tutorial.
Have a great day.
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Brilliant! Now I have the essential steps I'm keen to get started. The second half of the video, where things get more complex, was also very interesting. Thank you. I'm going to share this.
!CTP
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Woah! So easy to follow and execute! I withdrew 2,000 DEC from Splinterlands to Hive-Engine, then sold some other tokens to raise 5 SPS and added 5 SPS/DEC to the liquidity pool. Then I took your second step and swapped 644 DEC for SPS and went back and added them to the liquidity pool.
I'm grateful to you for helping me take the next big step in my Hive blockchain / Splinterlands adventure! :)
!CTP
That's a great start and you will see that in the long run these Liquidity pools are actually pretty practical. I almost always use them to swap tokens. It's often a better change than on the normal market.
Thanks for the inspiration :-)
Hey bro, nice explanation, I use SWAP.HIVE:DEC pool for DEC and Hive rewards in TribalDex exchange not the diesel pool in frontend.
Which one should I use for Hive:SPS, tribaldex diesel pool or pools in exchange, I heard beeswap also provides with some pools as well?
Thanks
There is actually only one pool for all of these. Diesel pools, tribaldex pools and Beeswap pools are the same thing but with different front-ends.
Thanks a lot, you've inspired me to write something on SPS pools in my next post for Social Media Challenge.
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Very good tutorial. These pools are working very well right now, let's hope they continue like this. Although it should always be noted that it is not a type of investment for everyone, the risk is high.
!CTP
It's definitely not without risk but if you understand the mechanismes of liquidity pools, its possible to limit the risks...
What a great tutorial! ~@clove71
Thanks a lot for the curation!
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Great guide. I guess there are still people who don't understand how all of this works but it makes sense because a lot of them are focused on the game and not really on Defi.
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We often forget how things might be complicated for people who are not so much into all this :-). I think even on Hive there are many people who don't understand much about DEFI
Excellent video. The risk is impermanent loss on 2 levels. Your method to hedge with Hive reduces one level against Hive but we still have the overall risk against Fiat. But that is anyway an inherent risk with crypto.
Keep up the great videos.
You are right. I see these LP as an alternative for keeping tokens in the wallet. So if I have DEC in the wallet or in the LP, there is not a big change for me.
We still get SPS at 29% APR when it is staked? The price has shot up since the airdrop ended though?
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I knew about the first one and the last one but the second one is new to me thanks for the explanation.
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