It has been ten days now since the Whive-HUNT trading pair was launched on Uniswap. For the first four days, zero transactions were made swapping the pair. Then the HUNT token price started to pump on other exchanges and an arbitrage became available on Uniswap. Six days ago was when the first arbitrage was realized, and most likely by the HUNT token founders themselves. When the trading pair was first launched 13,088 Whive were locked into a liquidity pool on Uniswap. Ten days later thirty swaps have been made using the Whive-HUNT pair, and 26,351 Whive tokens are locked up. The 13k difference in Whive does not even include the Whive that has been pulled out of the liquidity pool by advantageous HUNT dumpers. If we assume the buying side that found the arbitrage were not pre-existing Whive holders, we can do the math that over 16k Hive has been converted into Whive on the Ethereum blockchain for the sole demand this trading pair has created.
Why is the HUNT token price pumping?
It appears the HUNT founders are pumping the HUNT price in hopes of attracting Justin Sun’s attention for a Poloniex listing.
If you want to get involved on Uniswap trading this pair, you can find the pair there using the following contract addresses.
Whive contract address:
0x11d147e8d39F59aF00e159C4b1fe3a31D58A2C66
HUNT contract address:
0x9aab071b4129b083b01cb5a0cb513ce7eca26fa5
To create Whive just send Hive to @wrapped-hive with your Eth address attached as the Memo. Here is also the Wrapped Hive website.
More information about the Whive-HUNT trading pair on Uniswap.
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I don't wanna associate myself with Justin Sun though
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It's just meant to provide old HUNT holders a new way to dump directly for HIVE. The only imaginable buy side pressure has to be coming from the HUNT token founders. It's cool that Steem dapp founders have had to bend their knee and buy some Hive, convert it to Whive. Now that Hive they bought is locked up in a contract that a Hive community member controls.
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When I saw Justin Sun name I forgot what I was reading lol
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STOPThanks for the information about whive. How create wleo ?
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Congratulations @brettpullen!
You raised your level and are now an Orca!
Hi @brettpullen
This is a new area for me, and although I am writing and studying DeFi, especially Liquidity Pools, I am still fascinated by this arbitrage scenario. While I understand it in theory, that it's just a difference in price between an asset in two locations, with someone spotting it, then buying in one location cheap, and selling in another at a higher price, I am still wrapping my mind around this.
I haven't been following Hunt, and didn't know they had a token, and I am impressed they are now on multiple exchanges...Poloniex would be a good listing for them.
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