Why do countries trade?
In economics, trading is a win-win for everyone. Companies get new markets to sell in, and consumers can enjoy products that would otherwise cost too much at home (if they were available).
Trade brings people together. The benefits are undeniable. Specialization means that one person can be best at what they do because high-quality goods would only exist for them to specialize in. Specialization also leads to innovation, creating better products overall due to competition between other companies trying their luck!
Specialization helps both consumers who get more options than before thanks to trade. Not to mention economic boost and higher standards of living. Economic growth translates into an overall harmonious society where everybody wins!--trade does good!
Hive-Peerplays DEX Collaboration is no different.
Both blockchains and their communities are better off.
The end-users of Graphene-based blockchains don't have a decentralized mechanism to access Bitcoin, perform cross-chain swaps, or any other features that will be available on the DEX.
This collaboration between Peerplays and Hive offers users the possibility to create tokens.
With SPK Network's intention to create video communities using Hive technologies, there's an increased emphasis on supporting SMT like decentralized token creation systems and liquidity providers. Since Peerplays blockchain shares code with Hive regarding users as well, it made sense for them both to work together more closely so that problem could be solved faster by focusing efforts on what they're both best specialized in.
Peerplays blockchain will connect many blockchains and provide a unified platform for accessing coins/tokens from different networks.
Some of the unique features that Peerplays will provide are:
- On-chain prediction markets
- On-chain DEX
- On-chain native NFTs
- Raffles aka 5050 lotteries
- On-chain GLI verified, provably fair RNG (Random Number Generator)
- PeerID technology (to quickly onboard new users to the platforms)
- Upcoming DeFi/Liquidity features Native and Decentralised cross-chain swaps for Bitcoin, Hive & Ethereum blockchains
In addition to trading from their own native DEX, Hive members will also be given access and power over new user-issued tokens. And Hive community will receive the SMT equivalent on the Hive blockchain. Both blockchains have safety measures in place. Both networks are working tirelessly to ensure the network is battle-tested secure. There will be great decentralization.
What you need to know is that Peerplays and Graphene-based blockchains have always collaborated. By collaborating, like countries trading together, instead of a single country going it alone, they both found ways to give their users the best experience. It's Peerplays' mission to provide easy-to-access tools and services and liquidity.
Plus, this collaboration helps the DEX grow (Peerplays chain and DEX getting more transactions and users and thus liquidity).
Peerplays stands out from the few competitors because the cross-chain swaps via SONs & based on the DPoS consensus are unique. Are there similar solutions on various other chains? Yes. Are they the first decentralized swap and for the Graphene ecosystem? No.
There is no doubt that some of the features that are lacking - Peerplays can provide. There is no need to restrict both blockchains from growing and creating synergy together. The Hive-Peerplays DEX enhances both chains as opposed to limiting them.
A trade that makes everyone better off.
Hey peer-plays team, can you consider doing a podcast with the SPKnetwork team to talk about your blockchain and what not. I did a quick search to see if I could find any past podcasts you've done, but I couldn't find anything simply searching peer-plays on Spotify and pod-friend.
Keen to know more about the DEX. :)
Looking very much forward to this!
Thanks for your interest and comments! As we get closer to implementation, there will be plenty more information provided. In the meantime, this announcement by SPKNetwork may provide you some of the information you are looking for: https://cryptonews.com/news/first-graphene-layer-1-cross-chain-swap-project-obtains-dao-funding.htm
wow this sounds great, looking forward to an even more detailed post about the features!
@tipu curate
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