OK, if I can pat myself and the team on the back for a second I have to share we're kind of killing it right now! We just got the Witness system working and have 35 Hive-Engine witnesses operating. We executed our first Hardfork as a witness crew and it was flawless, and now instead of 6+1 witnesses we have 10+1. We'll like push that up to 20+1 soon as Hive prices are going up and there's lots of witnesses running.
Well, right on the heels of a great success there we started working on Diesel Pools, and the team has really come together on this. It's like we all know that it might be one of the single biggest financial things to ever happen to Hive. Anyway, you can listen in and you'll hear and see that our aggressive target to get this Launched is Friday Feb 19, 2021. You know... four days from now.
This is only possible because the community bought WORKERBEE, BEE, Farm Farmer, and Mythical tokens. Then it's only possible because donchate (HE witness comptroller) put the contract together quickly, and had it reviewed by cryptomancer (HE witness enginemaker). Then lastly only possible because reaz and lion200 have dropped everything to push these out.
As you'll hear we're working on opensourcing aspects of our front end for Diesel Pools. We want any front end like peakd, nftshowroom, d.buzz, or honestly anyone to be able to keep their users on their website while trading through pools.
So, Diesel Pools are liquidity pools modelled after Uniswap. We have a variety of other more complicated pools and smart contracts to implement, but before we get to them we have to get the rewards system operational for Diesel Pools.
We're trying to keep it so that once your tokens/cryptos are on Hive-Engine it's a completely free trading experience. Diesel Pools are no exception. So, in the initial roll out we're not offering the ability to add trading fees to the pools. That means you need a different way to incentivize staking tokens into the pools.
This is where stuff like Farm Farmer as an experimental game/defi project are super helpful. We're modifying the reward system of Farm Farmer to work for Diesel Pools. So, it'll work like a mining contract, and in the future like a gamified mining contract. If you stake in the pool you'll have a chance at a certain number of lotteries (token creators choose) and a certain number of people will win the lottery. Over time all the stakers get rewarded in the token for providing liquidity.
We plan to have many smart contracts built and deployable off the shelf. We're making tribaldex.com a better website to use to create your tribe, and add features to it. We're already working on turning our centralized SCOTBOT process into a decentralized smart contract. We'll think we'll have Layer 2 smart media tokens sometime in March! Then we'll make it easy to start them, sell them, launch them, mint NFTs with them, and create liquidity pools, websites, and a million other things.
In short we're making Hive-Engine the best place in the world to create a blockchain business with no back end code required.
Buy BEE, WORKERBEE, Farm Farmer, Mythical Farm.
Create a Tribe
Stake money in Diesel Pools
Reward people who stake here
Vote Hive-Engine and Hive witnesses involved in development and operations.
Shill projects built and exchanging on the dex.
What is Hive-Engine?
We're a decentralized smart contract platform built on the layer 2 of Hive.
What can you do now?
Create fungible tokens, and non-fungible tokens
airdrop them, claimdrop them
buy, sell, and trade them
creation inflation pools are reward users
distribute inflation through Proof of Brain
Run a website
Soon you can create feeless liquidity pools for them and reward stakers with your token
What's a smart contract?
It's the automatic completion of an if-then statement. If they give me 50 of token Y given them 23 of token Z.
What are the SWAP.CRYPTO tokens?
I don't have the keys or control over say your DOGE. So, you need to give us Doge, we give you SWAP.DOGE where the smart contract platform can execute actions after approval by your keys. We're adding programability to these Cryptos that isn't native to the token, but you have to let us hold the onchain token while you want the benefit. Once you're done with the benefit we'll give you the origial token back. We act like custodians.
Is this good for Hive?
Having lots of businesses here and staking Hive for pools and other stuff is great for Hive. It's also goign to attract new users. Please support us.
Until next time!
Please cheer on the dev team, vote witnesses, support our projects, and let's send Hive to the moon!