So I messed around with https://dswap.trade/ 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.
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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