Creating Passive Wealth With BeeSwap

I know of beeswap a while ago but for whatever reason I didn't jump in to learn it. That's changes though as of the last few days I've been pouring in a lot of my unused tokens into BeeSwap to start building a passive income.

Yes, impermanent loss is possible with BeeSwap like with any liquidity provider type system. For me this doesn't really bother me as I expect to add and really never take out unless the getting is really good.

What Is BeeSwap

Bee swap is a swap service for hive. It allows you as a user to quickly jump in and swap one token for another. This is a powerful tool compared to having to go to an exchange and exchange for buy and sell orders for the tokens you want.

Adding Liquidity

Many of the tokens on beehive offer up some type of rewards. Some better than others but I feel like it's really only just getting started. I don't know the full back end up normally a token owner would be able to set some type of small fee on the service that they then collect. That fee can be given back in terms of rewards for liquidity providers of that token.

For example Pizza when combined with swap.hive offers up nearly 10 other tokens as rewards to liquidity providers. Others offer a special token called BXT which currently pays out 200 a day but will be reduced to 100 soon and from there remain at 100 a day (unless something drastically changes) By holding this BXT token you are entitled to a percent of the fees collected from the platform and from what I can tell it is paid to you in liquid hive. YES LIQUID HIVE the thing that seems hard has heck to get anymore.

Thoughts

While the platform still looks like it needs a good bit of liquidity via other tokens it does do well with some of the larger tokens such as SPS/SPT/LEO and of course swap.hive. It does however seem to struggle with some of the smaller liquidity pools but I believe over time that will get better and increase as more people use it and provide liquidity themselves.

This will be added on to my goals of the new year 2022 and I'm still trying to figure out if I want to provide it in $ value or instead how much it generates passivly via token value.

The other thing to watch out for is that these pools can dry up in rewards every so many days so check that. It's up to the token owner providing that pool to re-add rewards in again. I believe many of the larger ones should provide some type of post or update if you follow them about what their plans are.

Some Of The Pools I Like

Currently my all time favs are as follows with reasons why.

Swap.Hive:LEO - Offers only one reward and that's BXT for me that's a smart move as the more BXT I have the more hive I passivly start earning.

Swap.Hive:DEC - This one offers up many rewards including BXT the APR is a little on the low end but if you're looking for some passive token earning and some BXT this could be a great fit. It also currently provides you with 2 points towards the airdrop for every 1 DEC in this pool.

Swap.Hive:SIM - Ah SIM the game I heavily invested in and then drove me mad lol While I still make some sim each day it's nothing compared to what it once was and I seriously don't want to pour anymore money into it. Thus adding the SIM to the liquidity pool earns me some much sought after BXT along with some SIM not bad!

Swap.Hive:SPS - right now SPS is earning 41% in game via staking plus vouchers but those things have become stupid worthless now. Thus adding your SPS here might be a better options if you want to expand your reach. It offers up at the moment a 71% APR filled with BEE, Hive, LVL, NFTM (Which I still have no idea what that is?)and a nice BXT amount.

Do you have plans for BeeSwap? Are you a token creator and have plans on offering rewards? Pitch it in the comments and I'll take a look!

Posted Using LeoFinance ^Beta