BOOM BABY! My first test of DSwap market taker!

in #dswap7 months ago

image.png

image.png

I've been waiting 6 months to show this screenshot and I gotta say I'm thrilled! I just submitted my first market taker job on Hive-Engine via DSwap. But let's cover some basics again.

What's a hive-engine?

It's a smart contract platform built on top of Hive. It allows creation of fungible tokens and non-fungible tokens and we're rolling out a lot of modular smart contracts to power no-code, gasless, and easy to create applications.

Hive needs people, people need entertainment and services, Dapps provide that, but we need to make it easy to create them here. Thus Hive-Engine (if that sounds important to you please vote my upcoming [proposal(https://peakd.com/me/proposals))

What's a Dswap?

https://dswap.trade is a tool for the hive-engine ecosystem. The two key parts are a market maker and a market taker.

A market maker is automated software to put bids and asks on either side of a trading pair with intent to skim a little off the top from trading. Essentially money sloshes back and forth and you get a cut when it does. Example: buy DEC for X swap.hive and sell DEC for X+Y swap.hive.

A market taker is automated software to execute trades from available bids and asks. In the example above I input 2 bee and the software traded it to swap.hive and then followed up by trading it for DEC.

What happens when the market maker and taker are available?

Users can convert between currencies conveniently and market makers start earning more as volume scales. Also, as it gets more efficient converters start saving money. There are expensive exchange services that charge up to 10% for this kind of trade, but if your money is already on Hive-Engine something like this is free minus slippage! If a crypto is not on Hive-Engine the fee would be 1% coming in, trade slippage, and then 1% on the way out. The more market makers that are here the closer to 2% max trade we can get.

I went to dswap... but I don't see anyting!

Right, so, this is still kinda test mode for a little bit longer, but I'm giving notice that I performed my first dswap trade!

Why does this matter?

Think about NFT showroom. We get users from everywhere. We want them to be able to pay in whatever currency and get whatever currency they want. Having a Dswap allows us to add in some middleware that apps might want to use to convert between currencies and tokens that saves them from having to build the damn thing.

In essence it's a money making thing for some, a money saving thing for others, a convenience tool for outsiders, and a dev saving lifeline for apps built on hive/hive-engine.

Anyway, if you think services like this are important to the ecosystem or if you think you benefit financially by having the apps I build on Hive exist here then kindly vote my witness. I've been out of the top 20 for a while now...

Sort:  

Congratulations!!!

Posted Using LeoFinance Beta

hello dear friend @aggroed good night
Congratulations for the great job you are doing, I really appreciate that you let us know this information

As always, unscrupulous people are on the agenda, they have anticipated and were selling the tokkens in advance.

confident in the project buy a 60,000 tokens

This is amazing, exactly what's needed to power HE dApps with more flexible payments options.

Fantastic development for hive ecosystem, we hope this help to put Hive to the masses.

Posted Using LeoFinance Beta

So the app will buy and sell on e the buying completed as per the instructions?

 7 months ago 

yeah, it's like shapeshift

It's more sophisticated in terms of what you can convert into what
It's less sophisticated in that they have many more currencies to convert between
It's convenient as you'll be able to sign a lot of this stuff just with keychain or smartlock

Wow, I missed this project, but it looks like it'll become something very important very fast. Congrats, can't wait to try it out. Time to save up that BEE

This sound great for Hive, Looking forward to seeing it grow!

Posted Using LeoFinance Beta

I thought you got some free online currency by this new site it’s like kind of cryptocurrency 😋

I signed up for normal service at 100 Bee but did not realize it expires within 2 weeks. Since there is no real trading yet is it possible to get back my 100 Bee? Hopefully not asking a lot. Thanks!

that's great.
Engine needs more developments like this.
Just a thought, why don't you run ads on engine like leo does on their dex?

Good to see these add up to Dswap. I see a future that Hive-engine would become a major exchange in the crypto sphere. Already, so much value has been added to Hive blockchain through the H-E tokens.

Posted Using LeoFinance Beta