Liquidity pools are the trendy thing in crypto right now and different blockchains are hot on the heels of the fad. It might have all started on Ethereum blockchain, but Binance Smart CHain, ThorChain and a bunch of others have already made giant strides.
I understand the basic concept of how liquidity pools work, but some aspects go over my head. However, I also know that for many others like me who struggles with balancing and whatnot, there are applications out there that simplify the process.
The introduction of TribalDex and the incoming LEOfi will invariably open up a portal for the development of more tools like balancer on Ethereum, that will focus on simplifying the activities on liquidity pools.
At the time of writing, there are like 12 pools on the decentralised exchange to do the liquidity thingy with.
All the available pools have a common denominator: Swap.hive. I guess because it is the easiest to access.
I think what makes this Dex special is that it is easy to access and will not come with the accompanying fees that you'd find in other blockchains.
It is also pretty easy to create your own pool and you pay 1000Bee for creating it. Adding liquidity, on the other hand, is totally free and I tested it out on the Hive versus DEC liquidity pool.
First of all, I think this is an opportunity for Hive based tokens and of course to bring some swap versions of Bitcoin, Ethereum and others. There's already Litecoin, and Doge pools against Hive, and you can contribute to them for absolutely free.
I'm going to be testing out with other Hive-engine coins. I'm also interested in the effect this will have on the WorkerBee token as well. If tribaldex ends up getting a lot of attention, it will bring a lot of eyes looking at Hive and will also give the worker bee token a boost, since, for the first time, the token actually has a real use-case.
In the time that has past, the WorkerBee token has seen a substantial rise in value. It currently trades at 0.9Hive and I don't think I have ever seen it get that high. If you include the importance of the token, with respect to hive-engine witnesses, I think it might be a potential moon coin and something you should keep your eye on.
