We are thinking about creating ECEN token, as a long time user of hive-engine what are your thoughts on hive engine, its stability, usability, extensibility?
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We are thinking about creating ECEN token, as a long time user of hive-engine what are your thoughts on hive engine, its stability, usability, extensibility?
Hive Engine has been fairly reliable, but not without problems.
I am not a fan of the centralization of Hive Engine, especially in situations like LEO where there is $1.2M USD market cap but it only exists on aggroed's private server. SMTs can't come fast enough to allow token holders an decentralized secure option.
Situations like the one above is unacceptable, especially without any formal announcement or disclosure that I can see.
I think Hive Engine was a fantastic experiment to show what can be done with SMTs but we need a decentralized native blockchain solution that isn't dependent on one party.
wLEO for example has almost $400,000 USD of liquidity all resting on a Hive Engine token, that only exists in a centralized database running on a VPS. There is more than that that hasn't been moved over to a liquidity pool that has similar risks as well.
I have a STEM token for my STEMGeeks community that I am not entirely thrilled with the current situation, but the entire market share is less than $15,000 USD. I had more Steem stolen from Justin Sun and rogue witnesses than that.
Anyway, my opinion, it's probably fine but far from ideal. It's all we have right now though.
SMTs?? What?
Are they still a thing????
Yes, SMTs (Smart Media Tokens, not Steem Media Tokens as many assume it stands for) are still very much on the road map.
The way they were coded though by Steemit Inc had some problems so they need some additional code to make them more viable, but that will be one of the primary focuses after Hard Fork 24 lands.
Bringing SMTs into existence would be a nice feather in Hive’s cap since Steemit Inc couldn’t do it. Having token creation at both layer 1 and layer 2 would give maximum flexibility as well for those that prefer one over the other. Decentralizing Hive-Engine would go a long way as well.
I'm working on the disclosure but it took a while to resolve properly. It's working as intended now, but some things will need explanation.
Your STEM token unstakes in 4 rounds. So when you unstaked 1 token, it reduced the stake by 1/4, as it does on hive (reduce by 1/13).
You cannot unstake tokens that are pending unstake but have not been subtracted from the balance yet.
If it is working as intended now, the display is awful.
Take my NEOX unstake for example:
I unstaked 1 (because nothing else I attempted actually did anything) and the display didn't change except for the unstaking in the right.
There is nothing in this display that tells me how much is unstakable right now, I have 496 unstaking, I have zero information to tell me how much of the 442 is unstakable, being unstaked or currently powered up for voting.
Yes agreed. This is similar to how hive handles it, but I didn't realize there is one difference making it a lot more complicated in that you can unstake multiple times and different amounts whereas on hive you can only do 1 amount.
Need UI to adjust for this for now, but it is a bit annoying to compute with the current state of the API
Thanks, right makes sense. Reason I was asking to see when/if Hive engine is decentralized and SMT/HMT is out, would there be some synergy or they would end up serving 2 different purposes.
what those "defi" shillers need to unterstand: a "wrapped" shitcoin is still a shitcoin if it has no use case. Sitting in a "liquidity pool" is not a use case ;-)
*not necessarily implying that LEO is a shitcoin here. It's more or less a general statement...
If you're hoping for an alternative, something new, I suggest sticking around with @lootkit, we have something pretty neat coming out soon 😉
Nice.
Posted Using LeoFinance Beta
Hive Engine is very easy to code for, everything from token transfers to staking to market orders is done as smart contract interactions triggered through custom json transactions. And we already have NFTs, which have been used with great success as the building blocks of the dCity game. :-)
We are busy extending the basic smart contract offerings beyond simple tokens & market contracts. We now have an automated market maker contract which anyone can use (see this post), and several other new smart contracts are in the works. I'm currently working on one called packmanager, which can be used as a Splinterlands style mechanism for opening packs of NFTs. And a new mining contract is about to become operational. The aim is to provide a robust toolbox of smart contracts that developers can use to easily add different features to their tokenized applications.
As far as robustness, we have not had any major problems with the sidechain since launch, and if something were to happen to the node we could just do a chain replay from the latest snapshot point. Introducing a decentralized witnessing system is a major goal in the short-to-intermediate term, and discussions around how best to go about that process are starting to kick off, as I think you're aware.
TL;DR: SMTs will be great I'm sure, but everything they will offer already exists in the form of Hive Engine fungible tokens, NFTs, and smart contracts. Why wait for a layer 1 solution that has been delayed for years, when we have a layer 2 solution now that works great?
When SMTs do launch, I'm sure we will have ways to have synergies between them and Hive Engine, though what form those synergies might take is yet to be determined.
Yes, decentralization is the key and I would be glad to contribute to discussions and be part of it, because without it there is not much benefit, imho.