Trade Token Introduction
Hello everyone. I joined the Hive Blockchain (formerly Steem) in 2017. I announced the Cent Project in May 2021. In May 2023, we announced the 'Hive-Engine Investment Transactions' study, which is a sub-study of the Cent Project. I have been using almost all of its features since I encountered Hive-Engine. I have gained experience especially in liquidity pools, Token trading, Token management, Tribe creation/management, etc. We decided to approach this business more professionally with 'Hive-Engine transactions'. The work has been quite productive since its announcement. However, the low transaction volume and lack of liquidity in Hive-Engine were among the problems we encountered. At the same time, we carried out the work with a very small capital for a long time.
We are planning to develop the Hive-Engine Trade study further. We also decided to include other users in the work through a token. In this way, we will be able to reach a certain capital level. At the same time, we will be able to create a certain amount of transaction volume and provide more liquidity and depth to Hive-engine tokens. We will also be able to distribute a portion of the income generated to the participants.
We thought of conducting the study I mentioned with Cent. However, Cent is an inflationary token due to the reward pool. In addition, no token sale was made through Cent. There will be no token sale in the upcoming period. Therefore, we decided that it would be more appropriate to create a new token. The token in question will be independent of the Cent Project. In other words, a liquidity pool will not be created with Cent. It will not be distributed as a reward in Cent's liquidity pools. And there will be no distribution such as airdrop. Let's come to the introduction of the token;
Token name: Trade
Symbol: TRADE
Maximum supply: 21,000
To trade token:
https://tribaldex.com/trade/TRADE
https://hive-engine.com/trade/TRADE
https://beeswap.dcity.io/tokens/TRADE
Usage area, Roadmap:
Tokens will be sold through the @centtoken account. The token will be used in the "Hive-Engine Trade study". At least 50% of the income generated will be used for reward distribution/token buyback. Some of the income generated will be reinvested. The remaining amount will be managed by the @centtoken account for the Cent Project and sub-projects. Our first goal regarding the token is to create a liquidity pool. Thus, we will be able to obtain a more liquid, low-volatility token. We will also automate the reward distribution.
Token sale:
A sell order of 500 Trade was entered by the @centtoken account in the Hive/Trade market. We limited the first sale to 500 units. Token sales will be made again when deemed necessary. However, we will keep inflation extremely limited. And unless a negative situation occurs, no token sale order will be entered at a price lower than the previous sale price.
Reward distribution:
In the first stage, we will distribute the rewards via the Hive/Trade market via the buyback method. A liquidity pool will be created as soon as possible (such as Hive/Trade or HBD/Trade). And we will distribute the rewards through liquidity provider rewards.
I will also purchase some tokens from my personal account so that the liquidity pool can be created as soon as possible. And I will enter market maker orders to ensure trading volume and depth in the market. I will share more information about the token. However, the management and data sharing of the token will be done through the @centtoken account. Therefore, do not forget to follow the @centtoken account. Do not hesitate to ask any questions you have about the token. See you again. Stay tuned.
image: source Note: It will be replaced with the token's image later.
Yes, with little capital it's not that easy for an idea to take off.
Interesting new token.
I hope we can reach better places with the token. If this can be achieved, it will be very profitable for both the project and the participating users.
With the growing capital and leveraging on your experience, I think the journey is worth a try.
Not sure I'm getting this right, you'll provide volume to certain tokens? I thought liquidity pools and swaps removed the need for market makers.
Hello. Let's take Zing Token as an example. In the Hive/Zing market, the trading volume in the last day was $133. In the Zing/Hive liquidity pool, the trading volume in the last day was $401. The situation should be exactly the opposite. In other words, the place where the trading volume should actually occur should be the token market, not the liquidity pool. And the price formation should occur in the token market.
Let me talk about just one of the problems that the current situation will create; The current Zing price in the liquidity pool is 0.00273 Hive. In the Hive/Zing market, it is 0.00263/0.00359 Hive. The price in the liquidity pool should be close to 0.00311 Hive. As long as the token market does not have the trading volume and liquidity advantage, healthy price formation cannot occur, no matter which way the price moves. I chose Zing because it is a known example. 90% of the tokens in the Hive-Engine have the same problem. Arbitrage bots like Mcbot, God0, Konvik etc. provide some balance. However, they do not provide real users with the opportunity to make a profit due to low transaction volume etc.
We have started studies like the one here regarding Cent. One of the purposes of creating this token is to prevent the problems I mentioned. Such things will remain very weak. However, it is necessary to start from a certain stage.
The reason it should be the opposite is cause there's no fees there?
But yeah I always thought the arb bots would take care of the spread, not sure why it's still that bad. So if it helps with that then I can understand it. Thanks for explaining!
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I have been wondering about these accounts. Now I see; they are bots.
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I bought a small amount to earmark this token, interested in seeing what future options it will bring.
I just don't see the point. Aside from the lower cap, how does this add anything?
Hello. I explained the part you mentioned here;
If you have any other questions I can answer them.
Yeah, that still doesn't seem like an explanation. Will the capital generated be used to back the tokens at a certain HIVE price floor?
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So it took you 4 years to launch the Cent project. I see now that when I joined Cent, the project was just 10 months old. And then after 3 years and 4 months, you are launching another token. I like its name; I am a lover of free trade and markets. Though I don't fully understand how this token works, I am willing to give it a try once my fund arrives. Thanks for sharing your experience.
!BBH
!PIZZA
Thank you very much for your contributions so far. This has been a very experience-informing process. I hope the upcoming process will add more to the past experiences. The profit will follow.
Yes, though the code aims to remove "trust," but still we cannot completely do away with our basic humanity. I find my two years and six months of being a member of the Cent community very worthwhile. Thanks to you!
Could you provide some insights in the TRADE token release schedule / distribution?
What I noticed sofar after clearing the market to enter a LP position early:
Account 'centtoken' seems to be able to call upon the smart contract and unlock another batch of TRADE tokens manually - for example the 1000 TRADE tokens today.
My questions: How many of the 21K tokens are allocated to 'centtoken' and will be come available for sale? Are there guidelines / timelines for this?
I noticed that the account ' centtoken' was trying to find a good price to position the next batch, repositioning it a couple of times.
My question; would a fixed prices schedule make sense? Placing every next batch of 500 higher compared to the previous batch (for example 0.25 or 0.5 hive above the previous).
There seems to be a contract distributing 500 Trade tokens to your account Anadola a day.
My question: Can you confirm this? Furthermore, what proportion of total TRADE is allocated for this?
General question: Apart from allocation to LP rewards and the distributions to centtoken and anadolu, are there other allocations for the distribution of TRADE?
Good luck with this project!
Hello. First of all, thank you for trusting and participating in the project and the 'Hive-Engine Investments' study. First, let me answer your question about the accounts.
As for the sales and distribution strategy;
As a result, 1500 more tokens were sent to the @centtoken account than planned. And the balance was achieved by gradually increasing the sales price. The account does not enter orders only to sell tokens. In addition, it enters a sell order in the token market to protect users who trade in the market from price slippage. To give an example; If @centtoken removes the sell order and a user enters a loaded buy order at the market price, they will encounter extreme prices such as buying 1 Trade token at the price of 500 Hive. Therefore, it is quite natural for the account to enter sell/buy orders at various levels. When the transaction volume, liquidity and depth begin to mature, such measures will not be necessary.
As mentioned in the introductory text above, when the token was announced, I purchased approximately 300 Trade tokens. The reason for this was to ensure that the Hive/Trade liquidity pool was created and started distributing rewards as soon as possible. (Liquidity pool creation fee is 1000 BEE and the fee to activate LP rewards is 100 BEE.) I added some of my tokens to the liquidity pool. I also entered buy and sell orders for some of them to contribute to the formation of depth in the market. I also recommend you to follow the price movements and buy/sell when you see it necessary. In addition to all this, constantly evaluate the risks, whether in other cryptocurrencies or Hive-Engine tokens. And take the necessary precautions. I wish you success.
https://he.dtools.dev/richlist/TRADE
https://he.dtools.dev/@centtoken?symbol=TRADE
https://beeswap.dcity.io/pools?search=trade
https://beeswap.dcity.io/tokens?search=trade
Awesome! Thank you for the detailed reply!
Interesting... Does TRADE token have any utility?
It is built entirely on trading. Therefore, the returns on investments made in Hive-Engine, trading profits, etc. will be distributed mainly to users who hold the token. It may be suitable for those who expect a regular income stream. But in any case, consider your risks.
!BBH !DOOK
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