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.

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.

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

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