Ok, today's an exciting day for the dev folks. The Diesel Pool rewards contract has been deployed. This means that Hive-Engine as a platform has the ability to add rewards for tokens staked in the liquidity pools.
There's a not a user facing interface to do this. That's the next step and will appear on tribaldex.com hopefully in the next week or so.
We're getting pretty close to where Hive-Engine and various Hive-Engine tribes and token ecosystems can pay their supporters to provide trading liquidity.
This decentralized payment mechanism unlocks the ability to crowdsource capital to make trading your token easy, and it should help drive the price up as more and more tokens are absorbed so they can be used to earn tokens for providing liquidity.
Next steps
Well, on the short term goal side of things we need to make a form appear on tribaldex.com so that a Hive-Engine Token team or Tribe team can start adding rewards.
The bigger picture though is inclusion of the Decentralized Token Fund contract that should also go live this week or next. It works like the Decentralized Hive Fund where a portion of inflation is diverted into it, users create proposals to fund it, and depending on where the return and burn contracts are the funds will either be awarded to proposals, returned to the fund, or the inflation will be burnt.
Big Picture for real
Combine the Decentralized Token Fund with proposals that feed into the Diesel Pool Rewards contract. Now a token can divert some of the inflation to the DTF and the community can decide based on stake weighted vote where to send the funds. The sent funds can include contracts to pay users to stake the token in the liquidity pools.
Users buy your token to stake them, users get to decide where inflation goes, users purchase more tokens to add liquidity to pools, price goes up, tradability goes up, utility goes up, and people are earning.
This is how we have nice things.
Oh, and if many of these pools are against Hive then you're gonna want a lot of Hive for liquidity pool staking. Things should really heat up over the next month or so.
Thanks for your support!
Hive-Engine continues to push the boundaries of decentralized Layer 2 smart contract applications. We're pushing hard to bring as much utility and tooling as possible to our ecosystem and hoping to empower you to create vast sums of wealth by generating community tokens.
That's good news aggroed. You mean by just staking so if I'm correct it's like doing some mining that can grow each token? But I think the tribes will be the one to make the tokens grow. I'm confused.
Interesting times on Hive, good news being released regularly as to moving forward on projects. Thanks!
!tipu curate
I was wondering whether it would be possible to include a mining pool into the diesel pool?
Let's say you have a token pair and you add a mining pool to the diesl pool. The proceeds of the miners is distributed to the liquidity providers.
This is huge, Hive-Engine is becoming a true defi platform, with zero gas prices :)
Awesome news! Will there be the ability to create single-token pools? Meaning adding just a single token rather than a pair.
Awesome! So the rewards will be different for different pools? Like the swap.hive/bee pool would be rewarded in bee? swap.hive/dec in dec? or swap.hive or something else?
I'm excited either way. I put a little in the swap.hive/bee pool as soon as it was up for fun.
This is EPIC, having a nice clean UI though is going to take this to the next level which I'm excited about and looking forward to seeing!
is there a way of knowing which pools have rewards?
Interesting
Will this story be like farmfarmer or mythical?
Will this story be like farmfarmer or mythical?
Hi @aggroed, this is a very encouraging and motivating post. I do not truly understand everything you are discussing in the post and clearly need to go away and do a bit more of my own research into the topic. That being said, I can really feel the excitement and energy in your tone.
I have always had great respect for you and your ongoing contribution to the platform, so it is great to see you are still involved in releasing new improvements to the community. Thumbs up from me! 😀