Is it easy to create your own token on Hive-Engine? Does the token have to be backed with value (ie, if I create must I provide liquidity or do the buyers provide liquidity)?
Is it easy to create your own token on Hive-Engine? Does the token have to be backed with value (ie, if I create must I provide liquidity or do the buyers provide liquidity)?
You don't have to back a Hive-Engine token with exchange value. For now, Hive-engine has an order-book based market, so yeah you need buyers/sellers to have exchange value. They are working on a token-swap system a lot like Uniswap so that investors can provide liquidity independent of an order book. Their swap feature will be great for low-liquidity tokens and will enable easier conversions between tokens.
Thanks for the reply! I wasn’t sure if creating a token required more than the fee on Hive-Engine to create. We live in an amazing time to be able to do such a thing.
Yeah I was having a conversation about that today with a software dev. The fact that basically there's enough free software out there to do amazing things and free software development tools to build almost anything. The idea we live in some capitalist hell hole starts melting away when the means of production are a free download away.