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RE: Daily Crypto Markets Live Blog: HIVE Pulled Back Hard Along With Rest Of Market (11/27/21)

in LeoFinance4 years ago

I just staked mine as well.

Does that answer your question? lol Sorry, couldn't resist.

Yes, like I said, I don't want to risk losing any BXT to impermanent loss. If HIVE were to drop back to $1 or something the BXT could wither on the vine. I'd get more HIVE, which wouldn't be the worst thing in the world, but I really want to keep the BXT I've got so....no LPs for me. At least using BXT anyway.

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Haha yeah, I deserved that.

I'm just still wrapping my head around what BeeSwap is now offering.

I'm just confused whether I should simply stake it in the same way I would LEO.

Or whether I should be staking it on some new place that I'm not aware of on BeeSwap.

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I'm just staking mine in LeoDex/H-E/TribalDex...take your pick. Staking it allows you to participate in the fees being generated by BeeSwap. I think I read somewhere there were upwards of 50k HIVE a year in fees? Don't quote me on that. I think I did the math and came up with about 5 HIVE per BTX per year. And I think that should be regardless of the price of HIVE as fees are a straight percentage so...if HIVE goes higher, the value of the payments should go higher with it.

If you put your BTX in the LPs on BeeSwap, you can earn more BTX as rewards. The APY's this first week are stupid. Like 3000% last I checked, moving down weekly. The problem is, with HIVE and BTX both so volatile right now, I don't want to risk losing the small amount of BTX I have. So I just staked mine and I'll collect the fees. Not sure when those will start paying out actually. Anyone else know?

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I think the BeeSwap dividends will be based on the profits generated from the swap function. After all, its liquidity is much bigger than LeoDex and HivePay Swap. So I think staking it on Hive Engine is a pretty good choice if you don't want to risk IL.

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