RE: Nectar-Queen v1 "White Paper"
(Edited)
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Hi guys!
Recently I've added to swap:hive/PLN pool 15 swap:hive and PLNs. and I would like to add more, say 100-1000, but I have no idea from where I could get this PLN amount. Hive-engine doesn't have the necessary liquidity.
What would you suggest to do with? Maybe I can buy them direcrtly from you?
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I think the best price will usually come directly from the pool, since if it wasn't some automated arbitrage bot would probably pick up the difference pretty quickly, so your best bet would probably be swapping 'roughly half' of the hive amount into the PLN pool.
That being said, some more engine market orders should probably be added for convenience if nothing else. The other ones expired based on very outdated engine code that auto-deletes any buy/sell order after a few weeks passed, which by the way, is literal insanity if higher liquidity is the goal, but what do I know... sorry for the slow response, btw.
thank you for the clarification.
I meant that hive-engine currently has 10-20 coins traded per day, and if I would need to buy 100-500 I would hunt for them probably 30-50 days.
There is no necessary volume of sell orders 😊 So, my idea to buy PLNs and add liquidity to the pool swap.hive: PLN looks like deathborn.
You can just use the pool to swap hive for PLN
or place a buy order at current value of ~1 and give it some time.
If the buy order is slightly above pool value, a bot might even go fetch it for you (this applies to any token with hive paired pool, as far as I'm aware) since they automate this to gain some small % from the difference in trading value. So, that being said, it still implies to bypass the automated middleman is optimal, and swap hive directly into the pool (or be very patient with buy orders waiting on someone to crash into them)
The swap for PLN:HIVE can be found at this beeswap link:
https://beeswap.dcity.io/swap?input=SWAP.HIVE&output=PLN
(in-case it was confusing to you, or someone else)
Do you have a plan to continue with the swap.hive:PLN pool after 51 days? How I can see it will last 51 days only
Yes that will be extended sometime soon. Since it will be done ahead of time before the contract expires, it will also affect the APR, so I think a post will be made about this. Basically the APR will temporarily decline once the number of days are extended, since the daily rewards are derived from dividing the total rewards by number of days. So for example if the distribution were suddenly set to last 5000 days the reward pool would need to be about 100x larger to have the same APR as the current 50 days. Probably it will be extended into the 1~2 year range for that reason alone, and this will most likely happen within the next few days. Then after some time, the reward pool will be raised back up to match the new time period - just a question of how many people panic in the process, I guess.
Thank you, I just wanted to understand would it be extended or not. So do I need to find an additional source for coins for the pool. I wouldn't do it for short term pool, but I would do it for, say, for year.
BTW, from where have you get coins for the reward pool?
Good question! For the rewards, some are earned, and others are purchased directly (often with buy orders that catch temporary drops in value) and the idea there is to have queen system agents be a net-positive for their local environment, by supporting some other projects in the process of distributing rewards, rather than simply distributing swap.hive alongside the components. PLN is likely to have the most variety in that regard, but the same principle will carry over to any of the other pools. This approach gives some valid excuse to put occasional buy pressure across a wide array of tokens while still keeping everything in order, and also works as a kind of value net in the case that one of those tokens were suddenly worth more.
got it