Diesel Pools are coming along. Just had the first code review and only minor edits are required. So, the actual back end code to diesel pools should be out in the next week. We're forking the Uniswap repos to get front ends ready. Hopefully that's relatively quick. We'll see, but my aggressive deadline for Diesel Pools being live on at least one Hive-Engine site is by the end of February.
Diesel Pool Rewards
The base contract is just to create the pools. The rewards portion isn't included in there yet. We're working on that next.
It looks like the plan is to take the mining contract and NFT influenced mining contract and edit them so that they'll work with Diesel Pools.
So... What does that mean? Gamified Liquidity Pools!
In the simple version of rewards you'll pick a token to reward the pool. It'll inflate into a contract that will send out a lottery. Could be every hour, could be every day. The lottery winners will be based on how much stake they have contributed to the pool. So, if you have 10% of the liquidity you'll have 10% chance to earn the lottery.
In the complicated version we can get pretty clever. When Splinterlands launched the DEC/ETH pool Matt added a clause: your stake will effectively double from the point of view of rewards if you leave your stake in for 100 days. That means if you put 1M it's counted as 1M, but if you leave it for 100 days it counts as 2M. It's a way to reward time...
What's that gotta do with Hive-Engine and Diesel Pools?
Well, by having pools and then separate mining contracts for pool rewards there's a lot of flexibility in how liquidity providers can be rewarded.
Maybe you want it so that if they stake 30 days that their stake in the pool is counted as 3X compared to what's actually in there. or maybe you sell a NFT which if you own it gives the user that bonus immediately and they don't have to wait 30 days. So, now your fungible token has a non-fungible sink that impacts their liquidity rewards.
Or they get some additional bonus because they have some other NFT. Count the stake as if it's been there longer, or give a bigger reward. Or a higher chance of winning the prize. Or a bonus on a certain portion of their overall stake.
There's lots of stuff that can be done. To my knowledge we'd be the first to be doing this: NFT influenced liquidity pools.
Hive-Engine is pretty awesome
My head's in this thing all the time, and all I can think is that this tool is really freaking awesome. By making a bunch of these modular smart contracts and allowing any token to take advantage of them we're really enabling anyone in the world to make their own community token for little money with a wide range of abilities.
it might be hard to see because it's not all on the front-end websites just yet, but we're working on that. We're getting the openhive portion of tribaldex.com/openhive up and running, and after that we'll go back and work on an easy interface to enable smart contracts we've created for your tokens.
I think by the end of March or sometime in April you'll be able to
create your fungible token
stake it
make delegations possible
start a smart contract distribution like Hive
get your own website out
create a selection of NFTs for sale
Get those NFTs onto tribaldex.com/openhive
Create liquidity pools
allow those liquidity pools to be influenced by your NFTs
Create a DAO
Fund the DAO with your token
Elect witnesses
Fund the witnesses from your token inflation or DAO
Create a separate governance token
Allow the governance token to impact values that you built into the system
Oh right, Governance...
So, if you see at the end there I snuck in governance. When we create a rule like after 30 days your stake gets counted as 3X those can be treated like editable variables.
After X days your stake gets counted as Y times your actual stake.
Well, we can allow governance tokens to modify this.
After X -2 days your stake gets counted as Y.4 times your actual stake.
My point is that governance can actually have control over certain contracts, edit them, and it can be based on community consensus.
Not the boss of you, but....
I suggest grabbing some WORKERBEE or BEE. Snagging some Farmfarmer and Mytical.Farm tokens. Creating your tribes. And getting ready to stake various tokens in the diesel pools and get rewarded by projects.
We're building right at the cutting edge. I don't think you'll want to miss the ride.
I wish I knew what all that meant.
Oh no, please not a lottery. Returns of rented out money shouldn´t depend on random numbers/luck. Never. Ever. I am sure this could have been solved differently.
E.g. if you rent out your HP on dlease.io you get back a daily income which is the same for the total period. Providing liquidity is in principle not that much different. Why a lottery was needed?
I still need to wrap my head on what is happening here, but it is quite great to see some new movement and innovation brought in the HIVE blockchain space. We need more and more DeFi related projects invading the space and building moment for current and new users. Let's see how will this end and the success that it will have.
Posted Using LeoFinance Beta
This is the power of the second layer. Trying to implement and release something like this on layer 1 would take an entire year. This is pretty exciting stuff.
This one will be huge once it's launched (And if it will actually work like people expect of course :P). We should be able to do some nice promotion for Hive, something like "Uniswap without fees". And now that HE is decentralized (or is it really? I never bothered to check the technical details) we could have a real Uniswap.
Excited for this one!
This is very exciting. No idea why it took you so long to decentralize.
Hopefully things will get cheaper too with time.
Nice!
Posted Using LeoFinance Beta
this sounds lit, im tired of missing out on stuff because i dont have a big bag of ETH now we can get in on some community fun with HIVE, HIVE based tokens, and hopefully TRX can work its way in there.
anyone know where i can get more info on tribes?
Yes please!
