WHY YOU SHOULD USE BEESWAP to convert SWAP.HIVE and HIVE
Hello again to all of the new users! Welcome to HIVE.
So I have been helping some new users in the Hive engine discord. There is no reason that I should be doing this, except that 1 -we are a decentralized community and nobody is forced to do anything, 2 -(theory) the more people understand this technology the better off my moon bag is , 3- I remember what is was like to be new and a lot of people helped me, and 4 -my name is yellow because I helped test the original SCOTBOT, which means I have digital authority.
All joking aside, I want to talk to you today about a serious issue about hive-engine support.
Hive-engine is providing a service, a very important service that we have all come to rely on. They have big liquidity pools and we are starting to attract some very active arbitrage happening right on our very own chain.
Hive-engine is a small team, and they are entirely self-funded from the products and services they offer. And they cannot hope to respond to every last person who has a simple question.
People need to read.
And for them to read, they need good guides. Which is what I do.
This guide is about the HIVE/SWAP.HIVE contract.
The size of this contract has expanded greatly, at the time of posting at 3.51 million HIVE. This is good for the ecosystem because it greases the wheels.
When you withdraw from 'hive-engine.com' you are shrinking the size of the contract. Which maybe is good to do sometimes. But not while there is low cost, low friction liquidity available. There is no good reason to change the size of the smart contract while liquidity swap pools like BEESWAP have liquidity.
Use BEESWAP
BeeSwap has the largest liquidity pool of SWAP.HIVE/HIVE, and a reduced fee of 0.25%. It sloshes back and forth, and yes, sometimes there is no HIVE and sometimes there is no SWAP.HIVE - and as the use grows more liquidity is added.
The only time the size of the smart contract should shrink (or grow), is when there is no liquidity in BEESWAP. It costs 1% fee to shrink or grow the size of the smart contract. BEESWAP is 0.25%.
This also takes a load off of the hive-engine team. They want people to build independent apps using their technology. THEY MADE IT OPEN SOURCE, and precisely for that reason.
They cannot do everything, they cannot support everyone. And they certainly should not have to be in charge of hand-holding all the new users to this platform.
Here is my guide on hive-engine diesel swap pools using BEESWAP
BEESWAP also has a new wallet interface, I will probably do a deep dive on that in an upcoming post after exploring it more, but it looks pretty great.
The size of the smart contract will certainly move over time - but save yourself 0.75% and let the bots decide when that has to be.
TL;DR
Use BEESWAP
Posted Using LeoFinance Beta
Thanks for the info. I didn't know that. It is definitely better for a transaction to give 0.25% than 1.0%. 😎 👏
yeah hive engine 1% fee looked a lot
me too i am try it right now
https://tribaldex.com/dieselpools/ has a nicer UI imo
Yeah man, totally!
agree
I don't use BEESWAP but it looks to be a good alternative when LeoDex is out of liquidity. I was looking for the link a while ago but ended up just waiting for LeoDex to get the liquidity.
Posted Using LeoFinance Beta
yes, leodex is the smaller of the two pools, but does exactly the same function. Leodex has about 19k of total liquidity, Beeswap is running 165k of total liquidity right now - but the same principle applies - don't mess with the smart contract while these pools have liquidity!
Thanks. I'll bookmark Beeswap and it's nice to know there is more liquidity over there.
Posted Using LeoFinance Beta
I myself face liquidity problem on leodex and here's the link to beeswap https://beeswap.dcity.io/convert
Oh really ? I didn't know about this, so it's great to save some cash specially when you have to withdraw constantly, that 1% is killing thanks for your recommendation I'll surely keep it in mind
Happy to be helpful to you!
Hi, is there any benefit for using BEESWAP rather than LEODEX as the fee is the same 0.25%, i'm quite new on Hive and i try to learn as much as i can ..
Leodex is a good pool too, it has about 19k in total liquidity while BEESWAP has 165k. Currently that is the only difference, though it was reported that when BXT token launches BEESWAP users will get part of the airdrop.
Good to know, thx for your answer
Is there a reason the url includes dcity.io? Just curious about it
its a subdomain of dcity.io, it was made by the same development team.
Stupid question perhaps, but what is the difference between tribaldex and Beewap exactly?
Posted Using LeoFinance Beta
Its a completely different interface on top of the exact same pools.
For pools, there is no difference beyond the interface, there are no fees anyway to trade the pools.
But 'withdraw' or 'deposit' hive on tribaldex will either 'expand' or 'contract' the smart contract size, and cost 1%. Beeswap has an independent liquidity pool that has a lower fee and does not touch the size of the smart contract.
I appreciate the questions the stupider the better because then we learn more. 👍
Ah, that is good to know! In that case I'll be sure to avoid Tribaldex for withdrawing and depositing at the very least, and I might just give Beeswap a try then in general to see how that rolls :).
Posted Using LeoFinance Beta
Awesome to see another post promoting #beeswap. In my opinion the best all-in-one Hive-Engine ecosystem project. Let's go!
leofinance also have the same fee of 0.25% no but I face a problem withdrawing some time so I think I will try beeswap for a while to see for my self
What's a great info because I'm see that is like the charges lower than the other (0.25%) very lower than (1.0%). Thanks