Hello everyone,
As the title suggests, I've created a Diesel Pool for SEED to improve ('dramatically') the liquidity of the token.
The pairing is done with HIVE (swap.hive) and it's already available on Tribaldex and Beeswap.
For those who don't know, a diesel pool is a type of 'Uniswap pool' running on Hive-Engine. If you used Uniswap or Pancake before probably won't have any problems using it. Whatever the case, I don't want to extend myself explaining how these things work, DYOR.
If you want a quick guide for diesel pools I recommend using the BeeSwap interface and following the guide written by @ecoinstant here. Upvote him, please.
Some Relevant Information:
I still consider the pool in 'testing' as the liquidity pooled is still far from optimal. Please be cautious when swapping.
In case you wonder, the initial liquidity for this pool is coming from my own pocket (my own HIVE + SEED), not minting anything new for the creation of this pool.
Initial Liquidity: 6000$ (5K HIVE + 2400 SEED) Check 'update 1 below'
*Fixed: ~12.000K$ (10.000 HIVE + 5000 SEED)
I'll probably be adding some more liquidity soon, you don't have any incentive to do so (yet), as Diesel pools don't have LP fees (in uni you pay 0,3% to LP's).
However, I'll be introducing Yield farming soon® ...
Yield farming? Tell me more.
As Liquidity providers don't have incentives to add their tokens into diesel pools, as a project owner you're (almost) forced to incentivize that pool if you want it to ever receiver any meaningful liquidity.
I have a few ideas and nothing is set in stone yet, but an idea is clear:
NOT A SINGLE SEED WILL BE MINTED TO BE PAID AS AN INCENTIVE FOR LP PROVIDERS.
That means you'll soon be able to receive 'staking rewards' for your SEED, without diluting your % of the ownership of the whole pool.
EDIT: Well, not counting Impermanent Loss, but this should be softened with the yield farming rewards.
I still have to research a bit more deeply the matter (working a couple of different models for yearly APRs and all that stuff), but yield farming rewards will be coming in less than a week (7 days or less since the publication of this post).
Any changes to this timeline (not planning to btw) will be announced (so yes, don't expect an announcement, THIS IS THE ANNOUNCEMENT of the feature going live in a few days).
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Killing 2 birds with one stone
Introducing a pool for SEED gives us an additional benefit; and as stated from the roadmap:
-At this phase, everyone will be able to get out with a 0% penalty (yeah, it's called 'testing phase' for a reason).
-That means If you don't feel comfortable with my management or for whatever reason you need to get out you'll be able to do so at cost 0. (I'll keep the APR% generated by the HBD).
-That means that I'll return to you HBD at a 1:1 ratio in case you decide to get out.
Nobody asked for a refund yet, but since liquidity in Hive Engine is very weak, we need that pool.
In such a way, anyone will be able to get out of SEED in a permissionless way (no need to contact me, ask for a refund... etc) and with a fairer market price.
Only advantages. So let's go for it :)
Update 1:
Seems that I broke something (testing things, you know), and broke the pool.
Basically tried to withdraw all the liquidity and pool it again and for some reason an small amount of seed (without hive) remained in the pool. Now it's impossible to add liquidity (since seed price is infinite vs hive in the pool)
Jeez, this is hilarious. I'm already asking at H-E support.
Worst case scenario is to pay again 1000 BEE to create another pool?. @ecoinstant I'm tagging you since I saw you helping out in the supp channel. Also @aggroed (just in case).
Welp?
Update 2
Liquidity problems fixed. thx HE support! 12K$ liquidity added.
100% of blogging rewards paid to @seed-treasury.
Remember you can follow the portfolio in real-time here:
https://cointracking.info/portfolio/seedtreasury
You can join us on Telegram and follow me on Twitter.
Posted Using LeoFinance Beta
Wen rug sir?
Posted Using LeoFinance Beta
I wait for it too
I think to generate a lot of liquidity is the smarter way to rug. Then print a bazillion seed and dump it + take the deposit.
Rug like a pro :P
Oh this nice to know. I do think the added liquidity is nice for those who want to cash out but I think I'll be holding mine for now. I am not sure if I will put it into the LP until I see what we can get though.
Posted Using LeoFinance Beta
Holy sht, I thought you are younger 😲
Ok, I need to read this again and prepare my bags by the time it is a go. Anyway, the idea is good and I have to say thank you!
There's always something new, which is great.
Posted Using LeoFinance Beta
please hold my like you hold your cat :)))
The idea is very interesting because while SEED is preparing to go to the moon, we can accumulate interest with other tokens (I'm happy to receive Hive, CUB, LEO, POB, DEC, SPT, BRO) 😁
Love the ideas but will be holding onto my precious SEED for now thanks. I am useless at this stuff so it will somehow benefit us anyway just by holding. I think if anyone wants to cash out or a refund then they can just ask the stake holders as I know I would gladly buy some at a slow pace but would still be keen.
Posted Using LeoFinance Beta
Nice move my man!
More good things to come!
Posted Using LeoFinance Beta
😎
Posted Using LeoFinance Beta
Ohh that's nice, real nice. Adding value to an already growing project. Good move bro. I love the ideas and development.
The Diesel Pool should allow others to jump in if they would like a somewhat bigger position in SEED. I know I am going to take advantage of it.
Thank you.
Please wait a bit more since I'm still tweaking with the liquidity (adding more in a few hours max).
If you do, do it at your own risk.
Thx for the support so far!
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I'll wait.
Hey chrono, 12k$ added as liquidity for the time being. (5000 seed available for grabs paired with 10000 HIVE).
Should be enough if you wish to throw at it a few hivies.
thx for the wait!
Posted Using LeoFinance Beta
Awesome love it
Oh boy, I have just been watching my SEED sit in my wallet and I have been fine with that. Now you are giving me decisions and choices. That is never a good thing!
Posted Using LeoFinance Beta
I think aggroed explained something he wants to add the feature for fees.
Not sure it is done or something planned for months.
But maybe it will be ready soon, so no need for research because market decide the fees :D
Did you said... YIELD FARMING?
Posted Using LeoFinance Beta
Consider me very interested! Will there be a secondary token involved? You don't have to answer if decisions have been finalized yet.
!PIZZA
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