Hello all my loyal Neoxianites, I'm pleased to announce that my city of Neoxian has acquired a Diesel Pool, and thus have entered Decentralized Finance.
You can see the new pool here: https://tribaldex.com/dieselpools/pools
The pool creates a trade pair between our city currency: neoxag and swap.hive.
What is a Diesel Pool?
It is a swap pool system created by Aggroed and his Hive Engine team. Diesel is a play on the word "gas", meaning that in this system, you don't have to pay the infamously high gas fees that you would in the Ethereum system of Uniswap. So you get all the amazing functionality of Uniswap without all those huge fees. Brilliant!
But what is a swap pool? What is so cool about it?
Ok, think of a traditional centralized exchange. On this exchange, the guys in control decide what trading pairs people use, so on there, you might trade PewDiePie Coin to BTC, or PIMP to BTC. But if you want to trade PewDiePie directly to PIMP, you'd be out of luck.
With the magic of DEFI, anyone can create the PewDiePie/PIMP pair if it's needed. The people can decide which pairs exist and then supply the liquidity (coins on each side). Then other users can make "swaps" or trades between these two coins and the pool handles this.
Check out diesel pools
So if you are interested in the neoxag or my city, or even just Hive Engine tokens in general, do check out. https://tribaldex.com/dieselpools/pools
Consider adding liquidity to your favorite pool (or creating one). And/or using it to make trades.
No rewards yet, but soon?
Just a note that right now, Diesel doesn't support rewards for liquidity providers, but hopefully that will be added soon, and I will add a reward to my pool.
Warning, putting money/tokens in a swap pool carries some risk.
It is a new system, there could be bugs. Neoxag, or Hive, or whatever could lose value. Enter this system at your own risk!
(pic from https://www.dailydot.com/)
City has gone diesel.