Saving The Marginalised Micro Trader For ETH/LEO

in LeoFinancelast month

So I messed around with today, and I'll probably do an update on it once I have more data to go on, but as this DE-FI thing keeps heating up, it's got me thinking about how best to leverage these trends to grow an audience. DE-FI is so hot right now, and anyone with a decent amount of ETH is trying to use it to farm rewards in some place or other.

Many of these traders are not shy about putting in bids if the percentage return is right and they're making pretty big bets because they need to cover the current gas fee structure of Ethereum.

The wLEO token will be launching this week, and a lot of focus is on a HE token moving to ETH and trying to make a splash in a bigger pond. An exercise worth it, but I was thinking while many are focusing on the ETH pool, no one is talking about the reverse.


HIVE Engine has no support for ETH

I had a look at HIVE Engines pegged assets, and I noticed there is no support for ETH, I find this strange as it has support for chains like doge, EOS BTC and even BCH so why not the second biggest token in the world. Having a pegged ETH token could be a way to arbitrage the other side of with the HIVE/HE Token/ETH pairing.

While LEO is getting locked up on ETH, why aren't we encouraging ETH to be locked up on HIVE? If we're creating wLEO/ETH pairs on Ethereum, why aren't we creating LEO/Swap.ETH pairs on HIVE?

A trader looking to trade these pairs and work the market could want to look for the most attractive returns, and if we had two markets, we could encourage more arbitrage and trading of the tokens through these pairings.

Screenshot 20200922 at 00.23.01.png

A place for everyone

The current ETH gas fee structure makes it impossible for smaller traders to get involved and trade profitably, this means capital is sitting idle and not being put to use which I feel is a shame.

While the wLEO/ETH pair on Uniswap can be great for bigger traders, we should also look to support smaller traders who would want to supply capital on dSwap.

I think it would make for an excellent marketing campaign for LEO and HIVE. What a strong, unique selling point would it be for the community to say to traders if you want to skip fees and trade this pairing, head over to HIVE Engine and Dswap with your ETH instead.

Welcome traders of all sizes to keep the market more efficient could further help the LEO launch and push it even higher.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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On the last LEO Roundtable podcast, Neal mentioned that aggroed has plans in the roadmap for Dswap to add ETH base pairs in the next couple of months - although I personally feel this should be marked a high priority project and rolled out immediately. You're right in that there is a ton of value on the table if Hive-Engine could offer this feature... yesterday

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Absolutely the sooner the better I think ETH:SWAP alone would be big but base pairs and market makers would be even bigger!

ETH whales are always looking for places to extract yield we can see this with them piling into sushi swap and some of these other obscure DEXs

If ETH swap and pairs are set up does that mean LEOdex would have the same support? Are we able to make markers on LEOdex via dswap too?

Good point, you mentioned that could really benefit HIVE, LEO and also get the smaller traders join the party.

Exactly whales may bring initial capital and volitility but it’s the smaller traders that make the market and bring stablity! If we cater for more people the more chance some of them will convert into LEO users too

To me I wonder why HE has support for Dogecoin Dogep and not Eth, not that I'm complaining since I have a Dog pile of Dogecoin and under $6 of Eth.

Lol I just saw khals comment now that it’s on their list to do ETH pairings on HE that means leo DEX could get it too which would be epic