Greetings Hivians! It's been a while since my last update—since September in fact, when I announced the creation of multiple new trade pools. Despite enduring the longest crypto bear market in history, we continue marching forward in our quest to build a blockchain gaming economy on Hive... and beyond!
Crypto Shots, the first browser-based blockchain FPS, was initially built on the WAX blockchain. Their game is blockchain agnostic, though, and it wasn't long before they got it working on the Hive blockchain, as well. This was a perfect fit given their membership in the Blockchain Gaming Accelerator, which supports other Hive games such as HashKings and Rising Star.
Unfortunately, many of the Crypto Shots features available to players on the WAX blockchain do not yet work on Hive. However, updates are coming fast, and blockchaingaming.com is doing its best to help. Currently foremost among those efforts is our new trade pool for DOOM, the main Hive token for the Crypto Shots game.
DOOM can be earned from playing Crypto Shots, but it's also a utility token. Tribaldex's order books are extremely thin, so go to the pool to get yours! The pool's relative size also makes it the best authority on the price of DOOM, so be sure to keep an eye out in case prices on the order books diverge. There could be arbitrage opportunities there!
Even more interesting is the opportunity to conduct arbitrage across blockchains with with the trade pool for BOOM, Crypto Shots' token on the WAX blockchain. DOOM and BOOM are mostly analogous, except BOOM are worth twice as much: 2 DOOM may be converted to 1 BOOM (and back) using the Crypto Shots bridge. You just need to log into their website and access your wallet there.
A little more math than usual might be required. As stated before, DOOM is pegged to BOOM 2:1, so instead of arbitraging to bring their prices towards parity, arbitrage occurs when their prices diverge from that ratio. But they use different cryptocurrencies to measure prices—HIVE for DOOM and WAX for BOOM—so you need to convert to the same units for comparison.
For example, Tribaldex currently shows that DOOM is worth $0.01392, meaning 2 DOOM (1 BOOM) is worth $0.02784. Alcor shows that 1 BOOM is worth 0.16213897 WAX, which is $0.0114778 according to the WAX price found on CoinMarketCap. Therefore, the price difference between BOOM and DOOM is 2.42555X what it should be, implying that much potential profit for cross-chain traders. Exciting!
Before this i was able to buy and sell the prices of doom at a silly margin, now it nice knowing it will be a set price with chances of earning thorough cross trading,
Great update :)
https://reddit.com/r/BlockchainGaming/comments/10kyccr/crypto_shots_on_hive_first_trade_pool_crosschain/
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Hi I have shared your post as a #leo #thread https://leofinance.io/threads/@thetimetravelerz/re-leothreads-4rhrwd
Leo threads are a good way to reach larger audiances within the #hive blockchain and also can be shared on other social media platforms with ease,
They are the twitter of blockchain except that each upvote earns you crypto
Do give it a try from here https://leofinance.io/threads
Interestingly enough, this disparity has been around since they gave access to both. I had received a veiled threat not to "take advantage" of this disparity in arbitrage at the open gate...that they can ban people etc. and I explained that arbitrage can be a really good thing as it brings things into parity as you mentioned. Great points! I actually created an Excel spreadsheet that does all the math for me using queries to grab the data for me...makes life much faster. I have at least a dozen pairs that I match up with using Hive-Engine and BeeSwap data.
I need to look into the Blockchain Gaming Accelerator. Psyber-X is a game that deserves such acceleration...
(Found your post via Discord. Thanks!)
From who?? 🤔
And banning from the frontend (done only with confirmed scammers) would be ineffective to prevent swaps.
cc: @wagginston
I'll have to search for the conversation on discord. I think it was either in a personal chat or in the THGaming discord. If you really want to know who said it, I can look for it.
yes please, better to clarify with them 👍
Found it:
I don't think he's on your team...so in that case, it was just bad information. It was in the THGaming chat. Is Donigarten on your team? If not, I apologize.
https://discord.com/channels/827653689242026035/994320534806470709/1018311917187637268
Replied, thanks
He is now a mod in our server but he was not back then.
The information he gave was only his assumptions and did not come from the team.