DSWAP market taker alpha is live

in #dswap2 months ago (edited)

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Hey guys. I'm thrilled to announce that the alpha for the dswap.trade market taker is live. Thanks to @lion200 for many hours of work on this. This means you can convert from one Hive-Engine token to another by signing a single transaction.

Where do I do this?

https://qa.dswap.trade

What's Hive Engine?

Hive-Engine.com is the front end for a public, opensource, smart contract platform. Users can create and trade fungible and non-fungible tokens and interact with modular smart contracts.

What's DSwap.trade?

DSwap is a companion tool to Hive-Engine which enables automated trades. It facilitates market making and market taking.

What's Market Making?

A market maker, which is already functioning on DSwap, is automated software that puts in trades on both side of a pair. It's X on one side and X+Y on the other. You're able to skim Y every time money sloshes back and forth. This is powered by a open source smart contract.

What's a Market Taker?

What we're launching right now is called a market taker. It's automated software designed to fill trades that already exist. This one is automated in that it's doing several steps in a single transfer from the perspective of a user. For example you can convert from LEO to PAL in a single action.

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What's actually happening with the Market Taker?

In this current alpha we're only supporting hive-engine tokens. You're sending a Hive-Engine Token with a memo and some data from the website to @dswap.
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From there we have software that executes the next series series of trades. So, this is a centralized service much like the rest of swap services. Right now it goes:

Hive-Engine token --> SWAP.HIVE--> Hive-Engine token

In the near future it'll allow the full conversion between cryptos

CRYPTOA --> SWAP.CRYPTOA --> SWAP.HIVE --> SWAP.CRYPTOB --> CRYPTOB

What's it cost?

the market taker is free to use. There are no fees on Hive-Engine to convert between Hive-Engine tokens and there is no charge for this service.

How much can I trade at once?

You can do any amount, but for now we're recommending that you keep it in small quantities for two reasons:

  1. This is still an alpha and this is the first public test. We're still testing server hardware etc, so it's probably best to treat this as an experiment up to a few bucks, but not trade a ton.
  2. As the Hive-Engine ecosystem grows we can handle more and more volume, but for now too large of a trade and you're likely to encounter "Slippage" that's where you're not getting the best market rate on trades because your order is big enough to start clearing the best offers. Some of the volumes on Hive-engine tokens are pretty small so if you do too much at once you'll get a lot of slippage. We're adding some code to the program so that you can tailor how much of that you'll tolerate.

What's the next step for this?

We want to get it live, test the server hardware, get crypto swaps functioning, and then lastly we'll put up documentation so that websites can offer this service to their users.

How do you fund this if it's free?

Well, the deposit and withdraw fees only cover a small portion of the development and infrastructure costs. There are 9 devs that work on Hive-Engine. The best source of funds for this project are from farmfarmer.farm and mythical.farm. Thanks to the folks that are picking up cards because without you we wouldn't be able to offer stuff like this.

Farm Farmer and Mythical Farm are demonstration projects and fund raisers for Hive-Engine. By purchasing NFTs from those projects you're helping to fund development on Hive-Engine.com and new smart contracts on the platform.

What's next for Hive-Engine?

We've created a mobile app version of Beechat we're calling Beechatter. We're working on submitting it to the android store. It's a chat application with some wallet functionality. You'll be able to check your balances, talk to your friends, and transfer tokens right from your phone on the go.

Anything else?

Yeah, the devs are getting a ton of stuff live these days. We have an airdrop smart contract, a claim drop smart contract, a token distribution contract, NFT influenced mining contracts, a witness style voting contract, a pack creation contract, and a bunch more coming.

What's the end goal of all of this?

There's no one project that's going to elevate HIVE out of the rut it's been in. The only way to get Hive and this ecosystem growing is to offer a way for businesses and communities to form and thrive here. By creating modular, no-code, off-the-shelf smart contracts we can enable businesses, communities, and services to form on top Hive and Hive-Engine.

Come check it out.

Market Taker

Support our work

Farm Farmer
Mythical Farm

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Awesome! A huge addition to the ecosystem!

May I also suggest that you continue emphasizing that farm.farm and Mythical are fund-raisers with minor benefits rather than the constant suggestions that they are awesome games and a great investment. The former I might even contribute to. The latter is likely to annoy the SEC as much as it annoys me.

This is tremendous and nice to see some move on Hive-Engine and building up some new features. Simplifying the transactions process should boost up so many businesses built over Hive engine and using second layer tokens.

 2 months ago 

This sounds like a very useful service! Thanks for the announcement and the simple, easy-to-comprehend explanation of what it's all about! 🙌

Can you make the UI for swaps just like Uniswap...

 2 months ago 

Probably not for this one because it's multiple steps, but I'll have a separate tool coming out next year that's essentially uniswap on hive-engine. UI should be pretty close over there.

^ this.

Hope you have plans on better integrating Farm Farmer & Mythical Farm into the whole ecosystem overall, otherwise these demonstrations aren't going to be demonstrating much other than how easy it is for projects to fail. Even simple tweaks that lead to cross-platform opportunities could go the distance. Consider how dCITY integrates other tokens into its game in order to improve the overall usefulness of SIM/dCITY.

Some sort of integration with rising star is already in the works I see in the rising star discord.

There was also a deal with Gerber from dcity of I remember correctly.

So I guess what you suggest is already happening.

exactly

martyaggie.jpg

It's tough in the hive, we don't take no guff.
We stick up for the little guys, too.
Some of 'em.

Lol HIVE is:

COMMUNITY
Great White Shark and Seal.jpg
DEVELOPERS

@aggroed, Want to appreciate you and Dev Team behind this Service, this looks promising and very Productive step keeping in mind the growth of Hive Engine Tribe Token Economies.

Good wishes from my side and stay blessed.

You say this about second layer (which itself is an unsure statement.)

There's no one project that's going to elevate HIVE out of the rut it's been in. The only way to get Hive and this ecosystem growing is to offer a way for businesses and communities to form and thrive here.

Yet you actually don't give much hype to this (which is, imo, the only way to gain viewers and methodically achieve user uptake.)

We've created a mobile app version of Beechat we're calling Beechatter. We're working on submitting it to the android store. It's a chat application with some wallet functionality. You'll be able to check your balances, talk to your friends, and transfer tokens right from your phone on the go.

THAT IS THE MISSING LINK IN CRYPTO.

SOCIAL WITH WALLET.... ON MOBILE.

Shit man how did mainstream connect so many people globally? I wonder if mobile social had anything to do with it. It's a little embarrassing that after 4 years and a dying token that people here have finally realised how important social is... with a mobile friendly/focused experience.

Of course it's not so easy though.

DIVI is a project which thought it was easy but still has no real product for public. The added WALLET element which deals with money might be their hurdle, since they are an an American team.

Anyway providing ability for users on mobile to easily drift into crypto and then connect with their networks (both already here and outside the system) is what will drive migration into Blockchain. Once a sea of eyes are in, then projects have true ability to shine. Not this what is here now. Release something for 10 people to notice and 2 to commit.

You don't need to be a genius to see the logic in that.

I've tried to swap Pal for Leo, but it's still not working. Anyway...
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Successfully tried, it works smooth!

Boom!! Thanks mate!

Posted Using LeoFinance Beta

Very good @aggroed

Next some coins like Btc/Eth to swap and liquidity is coming in. And also an easy way to buy Hive engine tokens with outside hive currency. :)

Thank you very much, very useful information!
I tried to log in but I get an error, it's still not working?

Dswap.trade is not working with Steem-engine.net. Could you please check that?