A Big Hello to all WOO Fans! 🥳🥳🥳 WOO!
Liquidity pools are an important and essential part of crypto and the WOO token is no different. More rewards have been added to the WOO:SWAP.HIVE liquidity pool and it's APR is now at a very attractive 33%! But before you decide to put some WOO/SWAP.HIVE in, here are some quick tips.
A picture (or in this case video) speaks a thousand words. Courtesy of @bookerman himself, here are 2 videos that give everyone a quick rundown on
- What is a Liquidity Pool?
- What is Impermanent Loss?
These are probably the 2 most important things anyone should know before ever venturing into LPs. Take a quick watch in the videos linked below. For those who are REALLY LAZY, not to fear, I have a TLDR from bookerman. However, this isn't investment advice of any sort, and I must warn you again of the risks involved.
"Imagine holding a bag of USD in one hand and a bag of WOO tokens in the other hand. People can come to you and put USD in one bag and remove equal value of WOO tokens from the other bag, or vice versa
You get a small transaction fee for that plus any LP rewards depending on the % of the pool you contribute to"
Sounds simple enough? Alternatively, for less risk and complications, you can also just STAKE your WOO and earn more WOO without any fear of losing your tokens to impermanent losses.
One advantage of HIVE is the convenience in not needing to apply for KYC and be subject to approval from the powers that be. Anyone can use Tribaldex or Beeswap as long as they have a HIVE wallet. So if you see an opportunity here, feel free to go for it!
Well, that's it for today. We will continue again tomorrow! 😁 WOO! 🎉
Wrestling Organization Online is an upcoming play-to-earn NFT business management game on the Hive blockchain and they are committed to positively influencing the industry by directly promoting wrestlers and offering a new income opportunity through sales of NFT packs.
🤼♂️ CLICK HERE TO JOIN THE WOO DISCORD 🤼♂️
🤼♂️ CLICK HERE TO JOIN THE WOO TWITCH Channel 🤼♂️
The main reason I got into WOO was pretty much thanks to @thebeardflex and the PIZZA community! PIZZA is a close partner of WOO @wrestorgonline and was one of the first buyers into the Alpha Presale. 🍕 CLICK HERE TO JOIN THE PIZZA DISCORD 🍕
If you read this and still have not heard of either WOO or PIZZA, feel free to join the WOO DISCORD and PIZZA DISCORD where you will meet a very welcoming community.
Also, if you've bought some WOOALPHA, SATURN or RAVEN packs and somehow have no idea how to open your packs, feel free to head to https://play.wrestlingorganizationonline.com/open to unwrap your shiny packs and hope that the RNG Gods smile on you! 🤞🏻🍀🤞🏻🍀🤞🏻🍀