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RE: Why you shouldn't take tribe market caps seriously

in LeoFinancelast year

Basically, the economy of Hive is so small that anyone can manipulate the price, and the tokens, regardless of "tokenomics" don't hold much value, to the point anyone exiting can crash (if there is anything left to crash on the order book)


I agree that hive economy is still small when we compare to ethereum. One of the problem is that hive tokens can not be sent to exchanges outside hive-engines. I am not sure about that but if it is possible, I think if developers try to list one of the hive-engines token to centralize exchanges like ionomi or others. This action will increase the marketcap and demand.

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I know there is a wrapper that wraps Hive tokens into Ethereum tokens (back and forth) but I have not read in depth how to use it.

Getting users financially committed is the main issue though in my opinion, as the wrapper may solve the issue of accessibility. For example, I am trying to power up weekly, but none of those Hive-Engine tokens got my attention yet.

I am keeping an eye out for it, though I can't get much information on them.... We need more posts teaching what they are and how to use. I have posted recently and @clixmoney taught me a lot about how those tokens work, check the comments (and if the information is useful upvote his comments, he explained very well to me, but I think there is more that I don't know):

I know there is a wrapper that wraps Hive tokens into Ethereum tokens (back and forth) but I have not read in depth how to use it.

Leo did. Until now, the hive-engine tokens are listed only in hive-engines. The assets that are listed on other exchanges are Hive and HBD. Wrapping LEO to WLEO does not mean listing leo to other exchange. WLEO is still ethereum token. Sending WLEO will need high gas fee. If it is possible to list hive-engines token outside the hive-engine, the token will be popular on broader market.

I am an Ethereum Solidity developer, ff I happen to have time (just brainstorming) I may make an Ethereum wrapper that uses Chi Gas Token, so the transactions would be cheaper when gas price is high. That is a countribution I could make and would need just one weekend of development, just need to finish the job I am already at, but that idea is definitely going to a ticker on my monitor "to do later", wrapped tokens using Chi to reduce fees.

How does it sound?

That sounds great. If it can happens that with Chi can reduce gas fee. I think you can share your knowledge to tribes developers.

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Have you ever used Chi? This wekend I used that oneinch exchange to change some positions and the fees were always half of the predicted by Metasmask because of that token, it is very useful, I know Ethereum 2.0 will reduce fees and POSSIBLY make the token useless, but I bought some to use for development and to change some positions