Hello there friends.
Hope you're doing well and staying hydrated today. I'm drinking coffee at 8pm for some reason. It's just so good. The weather has been really nice today so that's cool. Anyway, I wanted to share something with you guys that I just recently discovered on Hive Engine. I was hopping on there to trade some HBD for some BRO and noticed there is now Swap tab at the top. I don't know how long it has been there but I feel like it's new. Maybe I just smoke too much weed, but I just noticed it. So naturally I had to try it out.
DSwap.
When you click on swap, a small window opens over the page and it has a From and To option. Looks strikingly similar to Uniswap, Apeswap, etc... The major different here is how shockingly simple it is since it's built right into Hive Engine.
You select which crypto you want to swap and which crypto you want to receive. Then it estimates and you just click Swap. Insanely simple. I tried to use it, but when I clicked swap nothing happened. I went to the website and found out that it's currently under Maintenance. Hopefully soon it will be operational!
There's also a Market Maker option on the website. This is essentially providing liquidity just like you would on any other DEX. You provide an equal amount of X Token and Y Token as trading liquidity and earn fees. For some reason though, on DSwap is costs 100 BEE to register as a Market Maker. Maybe this will change or there will be more incentive in the future.
There aren't a ton of pairs and there is no option I see to add a custom token. More will be available as more people start Market Making to earn fees. I played around with it and it seems easy enough for anyone to use. I don't know if DSwap is new, but I had never heard of it before yesterday.
Unfortunately as I said, DSwap is down for maintenance and updates. I can't wait to actually use it. Who knows, I might just spend the 100 BEE to add some liquidity.
Did you know about this?
Lemme know.
Later.
Posted Using LeoFinance Beta
That's great news! Don't know about that. Thanks for sharing! 😎 🍻 👏 !BEER
Thanks for the beer!
Awww!
I saw this tab on hive engine and never thought of giving it a try. But come to think of it, is it not the same as trades done in hive engine?
Instead of limit order, selling one token for hbd then buying the other token with hbd... This is a direct swap. Token a to token b.
Waw. That's still okay.
I'll wait until after maintenance to give it a try
You can use it on the official website right now
Waw. That would be nice.
Thanks for the info
I've been dealing with this token business a long time ago
How u r too quick on everything????
I'm a nerd that smokes a lot of weed and reads about crypto 24/7 lol
A great site under hive blockchain I don't know about
You learn something new every day
This went way under the radar for me as well when I started playing around on hive-engine.
Will look much more into this and try it out.
Becoming a market maker has certainly peaked my interest.
Thanks for the details!
Posted Using LeoFinance Beta
Right! Good luck with it
Didn't know it was a thing you maybe stumbled on it before it's ready? I'm sure with all the new liquidity pools though and rewards it makes perfect sense to now have a swap platform for all of hive. I wonder if there are fees though? If so I'll most likely just stick to conversions within the engine itself for no fee.
I'm excited to actually try it. I thought I was crazy when I saw it. Lol yeah I don't think there are fees but we will see. Much easier for people that don't want to mess with setting prices for buy and sell orders
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