So right now, all the HIVE > SWAP.HIVE bridges have no liquidity on the HIVE side.
Every time it gets added, someone's arb bot swaps it immediately.
- How are they arbing this?
- What are they doing with the HIVE?
So right now, all the HIVE > SWAP.HIVE bridges have no liquidity on the HIVE side.
Every time it gets added, someone's arb bot swaps it immediately.
Having no liquidity isn't good. Hope not many are queued waiting for their $HIVE
They should just buy more $LEO with it if they are 😉.
Aah yes, great idea, unless they already sent their HIVE thru the bridge then oops 😉
🤭.
Don't know anyone has noted this or not but i face this issue whenever hive starts coming up.
Yeah, so what creates the arb?
Maybe there is no arb and they just need the HIVE?
Naa, they're arbing somehow.
Would love to know how it works.
It seems he has his own swap called kswap. https://hiveblockexplorer.com/@kswap
Not really mine, it is operated by theguruasia (also operating uswap), but I have invested in it :)
When there is a pressure to withdraw/deposit SWAP.HIVE, many swap services easily run out of their liquidity. https://kswap.app is an attempt to solve this by encouraging users to balance the bridge by introducing dynamic fees which allows the bridge to offer as much as 0.28% reward for providing liquidity. The goal of kswap is to only rarely run out of liquidity.
When reward on kswap is higher than fee on other swap services, Konvik-swaparb tries to make a profit. :)
I feel like I'm seeing a ghost 😂 I knew someone must have set up this network of arb bots but somehow I never expected to see you hanging out. Impressive work btw.
Ah, so it is taking advantage of those rewards offered to balance the bridge.
Okay, makes sense now.
Thanks for taking the time to explain :)
Ah that's the other bridge - https://swaphive.github.io/swap/
So maybe he's just trying to get the 0.075% bonus when its there?
Makes sense to me
Also this konvik guy arbs the shit out of everything on hive, I've no idea how much he makes, but he does the same with leo
The LEO arb I get.
Priced differently on HE to BSC.
But how does a SWAP.HIVE to HIVE arb work?
Thats a good question... I have no idea how they do it
Are they preparing for a hive pump?
@konvik 👋.
Put me out of my misery and explain where the edge is?
I promise I'm too dumb to be able to steal it.
I have explained above :)