Today should have been the day for my Splinterglossary update. But it didn't make sense to write one, since I can make an abstract in one word: nothing. I didn't add anything to Splinterglossary this week, being focused on other things, the new UI from Leofinance being one of them.
But also this week, @SPinvest announced a future (but soon) project of theirs.
In one sentence, the project means trading SWAP.HIVE for a basket of high market cap coins, wait 2 years (during which some adjustments are made), then sell everything and allow initial investors to buy back into SWAP.HIVE, most likely at a consistent profit (in dollars).
After I read the project, I had one question:
"Why not sell the project token XV for HBD instead of HIVE?"
I mean, HBD is stable-ish, HIVE is likely to go up with the market, maybe not at the same multiples compared to other coins, but still, go up during the bull market.
The answer demoralized me... "You can't sell on Hive-Engine in HBD". That's true. And such a loss in my opinion. This is a perfect example of why it's a loss, but there are many others.
Here's the entire exchange of replies:
I know at least some of the Hive-Engine team are involved in other important projects (Splinterlands), and I know this is not a trivial update, but adding SWAP.HBD as a pair to trade for on the order book would be beneficial.
I know there is the option to create a diesel pool between one token and SWAP.HBD. But that requires the creation fee to begin with, then initial liquidity added to the pool, and eventually rewards to attract other investors to provide liquidity.
As you can see, even established projects are not always considering paying these costs in some situations. And I am not making any remarks about the fees being high or fair. That's for others to decide. I am not in the position to create such a diesel pool, to analyze the fees and costs involved.
Actually, I believe if SWAP.HBD would be a pair option on the order books on top of SWAP.HIVE, more diesel pools containing SWAP.HBD would be created too. Because that offers the possibility of arbitrage between the order books and diesel pools, where SWAP.HBD is part of the equation.
What do you think? Does it make sense to be able to sell any tokens for SWAP.HBD directly on Hive-Engine (via order books, not diesel pools)?