Cent/Sps Liquidity Pool and LP Reward Distribution Active
Hello. Cent's 16th liquidity pool is now active. As of today, we have created the CENT/SPS liquidity pool. We have started the LP reward distribution period in the pool for one year. For starters, we have added 1000 SPS and 4120 DEC as LP rewards. As previously announced, we are not distributing CENT tokens in Cent pools other than those included in the Stablecoin Study. More LP rewards will be added to the pool.
SPS is the governance token for the Splinterlands game. The token allows players to participate in decision-making processes and perform in-game transactions. SPS is one of the tokens with the highest transaction volume in Hive-Engine. There are 22 SPS liquidity pools.
Note: Which token would you like to see more of added to the Cent/Sps liquidity pool as an LP reward? SPS or DEC? Please let us know in the comments below.
I have added some liquidity to the pool to enable swap transactions and ensure a healthy price formation between the two tokens. I will also be performing swap transactions in the pool for a while. As liquidity in the pool increases, I will gradually withdraw the liquidity I have provided. Follow @centtoken for more data and reports. See you soon.
I can barely keep up with all of the pools that you're creating, though I'm definitely trying! for now at least, I've removed liquidity from the CENT:SWAP.ETH and CENT:SWAP.USDT, until their backing assets are restored or recovered. I'll add some to this new pool as soon as I'm able. 😁🙏💚✨🤙
Until the situation regarding Swap.ETH and Swap.USDT tokens is resolved, we will not interfere with the Cent pools created for these tokens. Hopefully, the situation will be resolved soon. Expectations are high for the SPS pool. I expect at least the same performance as the HBD and BEE pools.
I understand, and at least there are several other great CENT pools from which to choose. Indeed, I imagine that this new pool will do quite well, especially with DEC and SPS as rewards. 😁🙏💚✨🤙
We can say that the event of creating new #HiveEngine liquidity pools itself already helps the Hive platform, as it helps increase the price of the HIVE token (by indirectly burning them). 🤔😎
Such HIVE tokens are swapped for BEE tokens which are then burned 🔥 upon creation (or upgrade) of a Hive Engine liquidity pool that requires at least 1,000 BEE tokens. 😎😏
Well, it definitely burns BEE tokens, but the SWAP.HIVE from which it's often, though not always, swapped, remains intact. As an example, the BEE that I'll be using to cover our portion of the creation of the soon-to-be ALIVE:LBI pool will come entirely through curation, since @aliveandsocial has 20.4k+ staked BEE, so it accumulates rather quickly. 😁🙏💚✨🤙
It seems !WEIRD that there is a "SWAP.HIVE market" on #HiveEngine !INDEED, where there are buy and sell forms, but no buy and sell offers (and last price and volume). 🤯🤓
!HOPE
!ALIVE
!PIXY
I never noticed that, and yeah, it's very strange indeed. 😁🙏💚✨🤙
!ALIVE
!HOPE
!INDEED
!PIXY
!WEIRD
That page just shows the historical price of the SWAP.HIVE token (whose price is technically the same as the HIVE token). 🤓
!PIXY
Yes, I saw that. 😁🙏💚✨🤙
!PIXY
Meanwhile, the SWAP.HBD market appears just like most token markets on #HiveEngine, except that the chart became much less stable starting on May 5 this year up to present !INDEED. 🤯😅
!WEIRD
!HOPE
!PIXY
Things have been getting progressively more challenging since the beginning of the year, and yep, even HBD/SWAPHBD has been affected too. 😁🙏💚✨🤙
!ALIVE
!BBH
!PIXY
!UNICOIN
I wonder about what the benefits and drawbacks are in the scenario that someone buys a million dollars worth of HBD from a (centralized) exchange then puts them all in HBD Savings. 💸🤯😅
!WEIRD
!HBIT
!ALIVE
Well, if they're actually able to buy that much, and if HBD doesn't lose peg with the US dollar, then I'd say that it would go quite well. Just look at the @lazy-panda account. 😁🙏💚✨🤙
!ALIVE
!WEIRD
!ZOMBIE
I'm thinking that even if HIVE is not burned by being converted to HBD, the resulting interest from HBD Savings makes the HBD debt ratio get closer to 30%. 🤯
It looks like a million HBD as my example does not seem big enough! 😆
!ALIVE
!PIXY
Indeed, and it keeps getting closer. It crossed 26% a few days ago, though thankfully it dropped back to 25% soon afterward, for the moment at least.
Indeed, that account's HBD in Savings is ridiculous, and surpasses all other accounts by a huge margin. 😁🙏💚✨🤙
!ALIVE
!BBH
!PIXY
!UNICOIN
Converting HBD to HIVE would be good to reduce the HBD debt ratio, but buying HIVE itself (and not converting them to HBD) would be better. 🤓
I wonder what it would do though if HBD Savings interest gets reduced further (down to 0%). 🤯😅
Well, for the current price, there's too much HBD (which is HIVE debt) and HIVE, so burning both would be best of all under the current conditions.
Good question. My guess is that it would not make any changes. That account as actually added more HBD to savings, even with how things are now. 😁🙏💚✨🤙
!HOPE
!INDEED
!PIXY
!WEIRD
Here is a summary of the main points of my previous comment as well as your comment there: 🤓
I don't think that many Hive account owners would do the first two, let alone the last one where they will actually lose tokens. 💸🤯😅
!PIXY
!STRIDE
Yes, that's a reasonable assessment.
Of all those, the first one is way more common, especially now. HBD in Savings keeps going down each month, as people withdraw their HBD to either sell, or to swap/convert to HIVE to power up. I almost did that once. I'd never do the third one either, partly because I don't think that it's fair for me to sacrifice because of a horribly-managed Hive economy and an unsustainable economic model. 😁🙏💚✨🤙
!PIXY
!STRIDE