Bravo to me !
My first experience with DeFi and wHive
Easier said than done
I've spent the whole weekend on the topic, reading, watching tutorials and defi reviews ( kudos to @cardboard @partitura and @khaleelkazi) and decided to move my ETH before swapping BTC (in order to participate in my own fees in a good sense).
Was it economically justified?
To tell you the truth, NO. Not at all. The process is costly up to a point I've decided not to go with my Bitcoin initial plan. For the yearly return of 5% I would loose at least twice as much on gas fees, it simply does not compute. Will look to it further though.
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As for now, the DeFi traders have no reason to invest in hive, if they did it's easier and cheaper to get Hive via traditional centralised exchange.
I'll keep my funds providing liquidity for some time more, but without further incentive to do so don't expect anyone to follow my path. I guess removing funds from pool is also intertwined with gas fees.
@jk6276 had a suggestion I share, you can read about it here. So if the community thinks it's a good idea to get more DeFi attention to hive this is the topic you need to pass through.
BTW uniswap shows I earned 0.22$ in fees, do you know where these cents went? Have they been assigned to pool's liquidity? If yes does it mean it happened on both tokens simultaneously?
Posted Using LeoFinance
We're gonna have WLEO pools soon so this will move things forward :)
Don't get me wrong, I keep my fingers crossed for Leo, but you got to know where you stand and where you stand in the foodchain. They plan to get 100k$ of liquidity while bigger hive network can't get near 20k$.
I'm afraid wLeo pools will bring only further fragmentation of hive ecosystem liquidity
The liquidity providers must be paid extra from the DAO - this would be the best waste of the DAO - if this does not happen then the Hive network is dead !!!