Why CTP doesn't have a Liquidity Pool yet on TribalDex?
I was amazed today when I searched for a Liquidity Pool for CTP token on TribalDex and found out there was none whatsover. No LP paired with any other token and you can trade CTP only on Hive-Engine where the gap between BUY and SELL orders is quite big and it doesn't make sense to trade.
On Hive-Engine the CTP price to BUY is of $0.034 and on SELL of $0.028, so we have a gap of $0.006 or around 20% which is out of proportions.
Hopefully we will soon see an LP for CTP (or maybe more) on TribalDex in order to encourage trading and to bring another use case to the token. With some rewards on top of that would bring some life to it and make it appealing as it stands for!
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I did exactly the same thing earlier.
I'm a couple of K CTP short of 5K for the airdrop so checked Leo DEX to buy, but was confronted by an extremely inefficient market.
Went and searched for a CTP pool on BeeSwap but nope, nothing.
I'm sure this has been answered before and we've just missed it, but @jongolson, is there a plan to get a CTP LP up?
Even one without rewards?
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Few reasons, that may look like excuses but alas...
There is zero documentation on how these pools work. And we have never claimed to be 'traders or crypto flippers' so jumping into something like this with zero documentation is a bit out of our comfort zone.
The price of getting a pool too is pretty high and if we were going to invest into it, we wanted to make sure we knew what we are doing.
We're learning and willing to poke around, but right now we're focused on our January launch, it's something we've spoken about but not really up our alley right now.
It is on our plans for sure though in 2022.
Totally understandable.
Thanks for chiming in and letting us know your plans.
Looking forward to seeing what January brings from you guys! :)
Posted Using LeoFinance Beta
For sure, thanks for the tag. We've been looking into it big time, but really...not sure how it all works and the documentation for dropping thousands of dollars on a service is non existent lol
For idiots like me, that's scary.