Hello there. I activated the Hive/Cent liquidity pool on May 23, 2021. From that day until last week, there was very low trading volume. Ok, let me admit; I was doing most of the work to set the cent's price. 😀 With the cent tribe active, the trading volume in the pool increased. Recently, I also activated the liquidity provider rewards.
Liquidity provider rewards are distributed once a day. For now, 100 CENT Tokens are distributed daily. We can increase the number of coins won as Cent's price balance strategy allows. 20 accounts can receive rewards per day. (Sorry, this is the highest number allowed by the system.) Are the liquidity provider rewards distributed proportionally? Or is it distributed evenly to those who provide liquidity? I don't know the answer to these questions. If there is a proportional distribution, other liquidity providers should receive a larger share of the reward. For this, I will lower my own rate as liquidity is added to the pool. But there is no problem if there is an even distribution.
You can withdraw your Hive and Cents that you have added to the pool whenever you want. However, it will be in your best interest to withdraw after receiving the next reward. How to trade in the liquidity pool? How to add liquidity to the pool? I mentioned questions like "Hive/CENT Liquidity Pool Active" in my post. If you still have any questions or problems, comment.
Thus, we took the first step towards DEFI with CENT Token. More liquidity pools will be added. At the same time, opportunities will be offered to earn more liquidity provider rewards. However, adding new pools, activating liquidity provider rewards, etc. 1000 BEE is required for each transaction. Give me some time. See you in new posts.
What are you using to give rewards to the liquidity providers? Some bot you created? Or did the Hive Engine team implement the rewards functionality?
Hive Engine team implemented the bounty function. Now working on smart contract. Only the fees seem a little high :)
It has been developed in a very useful way. Actually all Hive users need to use it, liquidity pools, markets etc.
Awesome. And are you using the SMT contract for the Cent token? Do you know if liquidity pool rewards can only be implemented on a token that uses the SMT contract, or can they also be implemented for tokens that use Scotbot?
Exactly. I am using SMT contract for Cent Token. I don't know exactly if it will work on tokens distributed with Scotbot.
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Delegate HP and earn more
can I provide delegation to earn some cent and can I join the pool?
No delegation work yet. However, you can earn Cents by supplying Hive and Cent to the liquidity pool.
Thanks for letting me know
Hi @anadolu Congratulations on the great job you are doing with cent! I have a question: I thought I could only use the token if I writing about saving and money, but I'm seeing a lot of people using it for any type of content. So is it okay to do this?
Hi @aiuna. First of all, thank you for this thoughtful gesture. Tribe focuses on economics. For example; sports economy, parts of music that concern the economy, etc. There is no harm in sharing areas. We had a discussion in the post here. If the post has nothing to do with the economy, we decided to make a warning comment. We do not consider harsh sanctions for irrelevant posts. We can choose to post a warning with a comment and not vote.