With our liotes project, we try to give as much value as possible to the community. That's why we run the diesel pool LEN:LENM and we provide rewards in LEN, CTPSB and SWAP.BTC. We have always believed that having quality rewards in the diesel pool not only provides a nice return for liquidity providers but also offers a diversification into quality tokens.
However last May, there was a hack that stole swap.eth, swap.bnb and swap.sol from the accounts of hive-engine and basically destroyed the pairing of these tokens with the base tokens on their natives chains. Unfortunately, there were no efforts made by the hive-engine team to try to restore the pairing.
LEN and CTPSB tokens are both run by the Liotes project. But with swap.btc, we thought that we had a solution that was external and provided security beyond the hive ecosystem. Now we are not so sure anymore.
The question we ask ourselves is now, how safe is it to hold swap.btc? When we collect swap.btc and put it as rewards for liquidity providers, it's paramount that we can trust this token. What do you think? Do you see any alternatives ? We would be glad to hear your feed-back.
The numbers of this week
This week, we managed again to burn 60% of the new supply of LEN tokens. The APR in the diesel pool decreased a bit, mainly because there was a new big position added as liquidity.
The liotes ranking
We have updated the liotes ranking and this will be the ranking that will determine the rewards of September that will be paid out in the coming days. You can see the present ranks here.
Liotes
A project run by @ph1102 and @achim03
At the moment there are 134 LEN tokens in the prize pot for the Liotes Power Challenge 2026.
I think that there is a different problem with swap.btc (and other high value tokens) in liquidity pool rewards. Because the daily amount earned is too small to be paid. So the APR based on actual daily returns paid (as measured by Tribaldex.com) is much less than the total pool APR.
I don't know if there is any mechanism in the pools for accumulating the miniscule amount due, but even if there is, it's very confusing.
Please note that this doesn't stop me from adding to the pool. But it is a minor concern.
!BBH
What you say is true and it affects people that have a small percentage in the pool. I think it's related to the numbes of decimals attributed to the token on hive-engine. I also don't really know where the threshold is for getting a distribution in swap.btc. It's also not possible to add less than 0.001 swap.btc to the bool.
Just wanted to share this with you. This is from your own wallet and you get 13 sats per day for your position in the diesel pool LEN:LENM.
Wow, that's really interesting! I've never looked at my wallet in PeakD which makes it clear. So it looks like Tribaldex is misleading in its APR report for liquidity pools! 🤯 🫨 😱
!BBH
I trust whatever you guys come out with, but I think BTC has been a decent store of value. It is hard to trust that it won't get hacked though.
Thanks a lot for your trust and it's true that we can't really influence it and hope that the hive-engine team learned from the experience.
Would have loved to give a suggestion, but don't really have any. However, I trust in the team would know which best to go for.
Thanks a lot for trusting in us :-)
The only alternate i think is swap.hive or swap.hbd. But, i think the swap.btc can continue as rewards in the len:lenm pool.
As its difficult to predict whether future hacks will happen. Also any chain or token could be targeted.
!BBH
!ALIVE
!HEARTBEAT
!PIZZA
!HBIT
Hopefully the hive-engine team learned from the exploit and it's now safer. You are right that all tokens could be targeted in a way or another.
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I understand your concerns regarding the security of SWAP.BTC, especially after the incident you mention.
It is crucial that any token used as a reward has a solid and reliable backing.
A possible alternative could be to explore other tokens that have a more robust security history.
You might also consider diversifying rewards further to mitigate risks.
!ALIVE
!BBH
!PIZZA
The problem that I see is that we can only add tokens that have a ticker on hive-engine and in a way there is a risk linked to all of them.
Generally as safe as anything out there. Diversify is my motto.
We keep the diversification by distributing LEN and CTPSB next to swap.btc. So even if there would be a hack, the apr wouldn't drop to zero.
Hmm I don't have any strong views - I trust the team will do what's best for the project. :)
Thanks a lot for the trust that you put in us :-)
From a value standpoint, I'd much rather go for swap.BTC than HIVE or other random L2 tokens. Having witnessed almost all other tokens drop >90% in value, I'm not too sure if you'd call the potential risk of loss in swap.btc any different at all.
I agree with you and there is a hack risk for almost all tokens on hive-engine...
we share the same worry lol... I hold HIVE, and some shit hive engine tokens. nothing else, no swap swap swap things lol !BBH !ALIVE !PIXY
Unfortunately there aren't many alternatives to distribute valuable tokens without swap before them lol
I'll leave the strategy to you guys. You seem to be doing a good job so far. :)
Thanks for the trust :-)
it's safe , until it's not ... same with all digital things it's safe until one hacker finds away arround the safety net .
That's unfortunately quite true...
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