PLN(PollenLoopNetwork) has expanded, but it's far from over!
Note: This post assumes you are already somewhat familiar with PLN.
otherwise, for some baseline of information about Nectar-Queen/PLN, you may view the original whitepaper here: https://peakd.com/pln/@nectar-queen/nectar-queen-v1-white-paper
Multiple categories of information have been added here.
you don't need to know all of this
but in-case you want to, a bit of elaboration is done.
[ notes about extension ]
As you may have noticed, the days remaining of PLN rewards are now less than 2 months, so while the APR is calculated as an extreme value, the 'annual' aspect cannot be taken quite literally. This post serves to inform that the intention of the PLN pool is to always have rewards ongoing. To make this more obvious, the PLN pool contract will soon be extended into the range of 1 year or longer.
That being said, it's important to note that immediately upon extension, the calculated APR will drop significantly, based on daily distribution of rewards being derived from total rewards divided by remaining days. This decline will be temporary, so it's advised you do not panic into losing your bonus shares, only to return later without them once the reward pool is back up and running.
[ notes about other pools ]
FLOWER:PLN / NECTAR:QUEEN / BLOSSOM:BLOOM
(these pools are all sanctioned as part of the queen system)
You might find that PLN is the most stable/safe option, but perhaps one day you would like to have accumulated bonus shares in the other pools as well, you might wait and see where it's going.
progression towards the big picture could take years,
or suddenly happen overnight
[ a few 'known problems' ]
( problem 1 )
{ hive-engine buy/sell orders expire }
this is threat to liquidity across all tokens on hive engine, based on outdated engine code, and has been discussed, with proposed solution being to scale expiration time based on the size of the order.
( problem 2 )
{ people find [REDACTED] confusing }
it can be explained quite easily through reference of the following articles about [REDACTED] and how it might be used to create emergent [REDACTED] from seemingly benign systems:
...
( problem 3 )
{ some tokens are stuck in rewards }
a few tokens that do not divide into small fractions do not distribute the way that was originally intended. That intention/expectation was for the distribution to 'round up' and give the tokens to the people with the highest shares of the pool, as a kind of bonus, but instead does the opposite and doesn't distribute them at all. This can theoretically be fixed by matching the number of tokens/fractions to the number of days remaining for reward distribution, so at some point that method or something like it will be done. Ideally this will give some extra benefits to hold higher % shares of the pool, since that generally comes with higher risk.
( problem 4 )
{ higher tier pools have lower APR than PLN }
this is likely to change over time, so having a bit of bonus accumulated might be useful. In theory, the future-proof approach is to have some diversity across the pools, regardless of which one has the highest returns at any given time, but it cannot be said exactly what will be done for each of them, other than to say their risks are variant and PLN is quite stable.
[ a note about PLN soft-peg ]
You might have noticed this already, but in-case it wasn't obvious, since the original launch of PLN nearly 3 months ago it has been trading at about 1:1 for hive, with most deviations beyond 10% coming from buy/sell orders rather than the pool.
This property was not part of the whitepaper, but has been reinforced for purpose of stability, and to reduce penalty of inactivity (such as accumulating rewards over long periods of time). However, it must be noted this peg is maintained as a bit of courtesy, rather than strictly defined, but you can use this knowledge to know when a good deal is available, since any sudden drop in PLN value is often corrected within a few days.
[ a note about the queen system ]
it is the beating heart of a much larger picture:
the Game of Defiance.
This runs parallel to the Queen's Game,
which is auxiliary to the Game of Kings.
Very few people in the entire world could give you coherent answers about a single one of those, so it's better to set aside expectations that you might find a shortcut to the end of a nearly unsolvable mystery, and immediately know everything there is to know. Instead, it is easier to simply say that it was all created by a crazy person, and just go from there.
If you're in the pools, trading tokens, commenting here, interacting with [REDACTED] or doing one of a few hundred other things that leave behind digital footprints, then congratulations:
You're playing the game.
(beware)
[ a note about tokens/components ]
Many of these are not used for much yet, but their value will be supported regardless. If the buy orders for something have expired, there might be some delay in creating new ones, so it's best to give some thought to what price you're looking at in relation to how much of that token is distributed (that is to say, if someone wants to buy NECTAR for 0.001 each, you should probably just hold it)
Each component has internal rules to govern how many are minted and how they are distributed, with some room for calibration based on reactive assessments to adjust individual pools (usually for purpose of stability). A good example of this would be neglecting to add recently minted nectar to the PLN rewards, as few days remaining would distribute a large percentage of the total before the extension is done, and likely result in some unwarranted volatility from a sudden surge in supply. This hybrid approach between rule-based system and interjected adjustment has worked well so far, and should give some level of credibility to the original notion mentioned in the whitepaper that the rules might be altered over time - it is only done if/when it appears to be in the interest of the system and those involved.
The ideal scenario is that founders/participants have aligned incentives, and that notion was deeply encoded into the original design, which has so far held true, even to the extent that the PLN founders fund remains mostly untouched for purpose of reinforced stability.
[ a note about future pools ]
Question: How many more pools will be made?
Answer: Yes
Actually, there is some debate deciding if PLN will be paired against other tokens. For example, if it were paired against HBD, it might result in trading one type of stability for another. Then we will have it paired against $1 to insulate against hive value fluctuation, but it will suddenly become more difficult to keep it pegged to 1 hive, and for each additional pair that difficulty is likely to amplify until the point that its value in relation to hive is almost entirely decided by the fluctuating values of everything else involved. That notion is against the idea that pairing PLN with DEC/SPS/SIM/CROP/BEE/SPT/STATE/ONEUP/ETC is good for not only the token, but perhaps the entire ecosystem. Some compromising idea is to shortcut these pairs directly onto the QUEEN token, but these things are so far undecided. You can leave an opinion about this in comments below, if you want.
[Current Pool Links]
HIVE:PLN
swap - https://beeswap.dcity.io/swap?input=SWAP.HIVE&output=PLN
add - https://beeswap.dcity.io/swap?add_liquidity&pool=SWAP.HIVE:PLN
FLOWER:PLN
swap - https://beeswap.dcity.io/swap?input=FLOWER&output=PLN
add - https://beeswap.dcity.io/swap?add_liquidity&pool=FLOWER:PLN
BLOSSOM:BLOOM
swap - https://beeswap.dcity.io/swap?input=BLOSSOM&output=BLOOM
add - https://beeswap.dcity.io/swap?add_liquidity&pool=BLOSSOM:BLOOM
NECTAR:QUEEN
swap - https://beeswap.dcity.io/swap?input=NECTAR&output=QUEEN
add - https://beeswap.dcity.io/swap?add_liquidity&pool=NECTAR:QUEEN
pools overview
https://beeswap.dcity.io/swap?pools
(alternative: https://tribaldex.com/dieselpools/)
[Relevant Markets for Pools]
https://leodex.io/market/PLN
https://tribaldex.com/trade/PLN
https://hive-engine.com/?p=market&t=PLN
https://leodex.io/market/NECTAR
https://tribaldex.com/trade/NECTAR
https://hive-engine.com/?p=market&t=NECTAR
https://leodex.io/market/QUEEN
https://tribaldex.com/trade/QUEEN
https://hive-engine.com/?p=market&t=QUEEN
https://leodex.io/market/FLOWER
https://tribaldex.com/trade/FLOWER
https://hive-engine.com/?p=market&t=FLOWER
https://leodex.io/market/BLOSSOM
https://tribaldex.com/trade/BLOSSOM
https://hive-engine.com/?p=market&t=BLOSSOM
https://leodex.io/market/BLOOM
https://tribaldex.com/trade/BLOOM
https://hive-engine.com/?p=market&t=BLOOM
Note: The intention of this project is to give most devoted participants high returns and opportunities, but that is not completely guaranteed. At the very least, the hope is that you find it more interesting than typical defi, and if you gain something along the way, even better.
Reiteration of Disclaimer of Risk:
"Founder could burn the world down with you in it"
That guy is definitely up to something.
Bonus Promotion:
if at any point in time you write about PLN, share some info about it or the queen system, or support it in any other way, then be sure to shamelessly mention that in a comment below and you might gain some type of mysterious bonus for unknown purpose. It might also be useful to educate people on hive engine defi in general, since not everyone is on the same page.
I just posted about PLN https://hive.blog/pln/@thatgermandude/why-i-missed-the-hupd-warum-ich-den-hive-power-up-tag-verpasst-habe
I didn't want to because I want to solve all the riddles and have all the Pool rewards for myself, but did it anyways for reasons :)
This is only the beginning of the documentation!
https://peakd.com/hive-103408/@andy.zaphod/b4phom3t-for-the-queen-king
I found out about the SWAP.HIVE:PLN pool and it strucked me like a lightning! Very well APR now, I'm so happy.
Something I saw inside the article, If we take our money from a pool do we loose all bonuses from before aor just that day?
Thanks for the article !PIZZA
bonus shares are slightly complicated, denoted as a % increase per day but there's a little more complexity than that so maybe an example would clear it up.
example:
you have 1000 shares and gain 1% bonus for 10 days.
now you have 100 'bonus shares'
for 'reasons', you remove half your LP
AFAIK, it will also remove half of the bonus shares
then you add the liquidity back, but the bonus is still 50.
(i think it's slightly more complicated but roughly accurate)
so it just affects the bonus shares of the pool which increase APR, and you would keep anything else you gained along the way, if that makes sense.
thanks, yesterday we talked this with @axrho and she gave me perfect examples about bonus shares. Like how they are never yours but just there to amplify rewards. Now you enlightened me about partial removals. I have mastered this now :)
Finally I understand, TYSM! been moving my funds around the pln network pools, I thought they were permanent hehe
!PIZZA
Really nice to see an update for the pools, I started with the PLN:swap.hive pool and have been devotedly adding back my rewards into the different pools and I can see I have been rewarded for my FAITH with accumulated bonuses.
Cant wait to see if more pools show up with some of the other tokens from the queen system maybe when the SUN and MOON and the STARS aligns.
Kommt Zeit, kommt Rat!
Maybe the SUN:MOON pool will launch with an astronomical APR ^_~
Technically a lot could be done at the flip of a switch, basically overnight, but the current thinking is that everything needs to build up as a gradient over time to a level that can justify higher complexity, instead of suddenly having a ton of new pools all at once. All levels of gamification are fundamentally derived from complexity, but for now a lot of people find the simple action of participating in defi already complex, so additional pools will probably come one at a time or in small batches of related things. Some exceptions are possible, but a longer term approach seems like the way to create a more stable environment, and give time for people to get into it more, and to not miss every opportunity all at once. This also allows any problems that arise to be more accurately identified, so that instead of repeating it across multiple pools before noticing, the hypothetical problem could be isolated and avoided.
All that being said, there will be some additions soon™©®
Your desire to see SUN/MOON in action is noted εїз
I'm focused on the SWAP.HIVE:PLNN pool, its APR is very good. I believe I entered a little after it was created, I was a little suspicious, but I realized from the white paper that the project is very serious!
About mentioning it in a post about PLN, I've done it 2 times, they were even simple mentions, but it's a start. I believe I can write something more with this update. The links:
Rising Star - Progress #59 Many Actions
Two investments I made: APE and PLN
In the official discord of HiveBR (Hive Brasil) I've also commented several times about the pool, I just don't know if anyone added some liquidity. Well that's it, let's go! !PIZZA !LUV !PGM
perhaps for this your prize should be [FAITH]
This token has purpose unknown, but seems fitting.
It is useful that you shared the post, and write about it - as you might already know, our reach is limited, and 'self-promotion' is often considered spam in many contexts, so you have helped.
On note of APR, just keep in mind it's likely to drop when the time is extended, but the goal is to never stay below 100% as a minimum, while also maintaining some semblance of stability. After the extension, there will be a period of time where it's recovering (some preparations done, so it could be short, but likely a few people will panic) the 500% APR is most likely temporary in that regard.
as some side note, please refrain from this:
there's some concern that the variety of tokens in the PLN pool rewards will begin stressing processing of the distribution contract, but there's no way to remove them now. These will stay indefinitely unless the contract is allowed to expire completely, so it pushes the pool 3 tokens closer to the limit (if there is one) without adding much value. Basically there is some concern of limited slots, and there are a ton of dormant queen system tokens yet to be revealed. If you like to add something else to PLN pool, I suggest gaming tokens, since it would be nice to have more of those in the list.
About the tokens I added, I'm sorry, as they were stopped tokens, I wanted to put them in order to share with the staff, it was a mistake, my 1000 apologies. I will always try to add game tokens so, the desire to help was greater than reason and I rushed. 😥
I trust the project and hope to be part of its growth, more than it has already grown!
The apology is sincerely accepted!
You had good intention and that counts for a lot. It exposes some issue on the hive engine side anyway, and that could possibly improve over time (since the pools are still relatively new feature, there's room for improvements) We can just see how that goes over time, since defi is best spanned across many months/years rather than days, a lot could improve as hive engine continues to evolve!
Thanks for the Fish.
[@quekery] We wrote a "little" Cover Story about the queen-system (Editor's note: And it blasted the chain.) in our newest issue of HiQ - The Hivestyle Magazin. We named it "Nectar-Queen - OMG, I was accidentaly reborn as a BEEing of Cicada World and my first 96 hours of this game [REDACTED]". We put some research in the Game of BEEcada - have fun with our HiQsekai.
PS: BEE aware of the HiQ Team, cause [REDACTED].
PIZZA Holders sent $PIZZA tips in this post's comments:
shiftrox tipped nectar-queen (x1)
casimirio tipped nectar-queen (x1)
@untzuntzuntz(1/5) tipped @megalithic (x1)
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I got involved as it was a great liquid reward system and I haven't been able to get any flower...
Only recently did it show up and now I can actually see that the flour token exist however the entire time that I've been getting liquidity provider rewards I haven't been getting any flower at all...
Really interested and I would start trading it and making more...
However by now I should have quite a decent amount of balance.
I get tiny fractions of nectar and queen with no issues.
Any way I can get some help?
Flower only has a precision of 1. meaning the lowest possible amount you can get/trade is 0.1
Kind of makes it a little bit hard for people too get those daily liquid provider rewards...
Okay then I'll just give up on it.
I Myself Have just been making sure I have just enough share of the pool to get the for example 0.1 flower daily. I agree that gets frustrating with the ones with even lower precision, kind of waiting for an announcement on the plan/fix for those.
Yeah I'm working on adding more to finally get up to the point where I'm starting to get some of this token however I've still got quite a bit to invest to get there.
Yeah if they can fix that that would be really nice...
There are some tokens that I have microscopic amounts of like Bitcoin! LoL. I'm not exactly sure why they advertise that you're getting these rewards when you're not actually getting them....
I personally like to take the coins that swap for the ones I have less of and swap half of them...so like blossom and bloom, I'll swap half of my rewards from my swap.hive:pln rewards for the side I'm not getting, so I can pony up more within the Blossom:bloom or flower:PLN groupings. That might help you get where you need to be on your LP's.
Actually I'm already doing that and I find it more necessary to swap my queen for nectar.
Just recently got into blossom and Bloom and letting those add up before I swap over and rebalance here soon.
That pln is a really great pool I'm really happy to be in there and I've got to start adding to my flower pln pool as well so I think it's another three different pools that I've been a part of now just from the pln..
And what does pln and all these different ones come from....
This was a great and interesting read. I was asked recently what token I wanted added to the Swap.Hive:LVL pool and I told them "PLN!" They didn't know what it was...they do now :)
Hey! Is this still good to "play"? Or am i too late to the party? Hope i can keep up.
Educating people on the pools have been a hard thing... but slowly everyone will continue to experiment and click click click more, then have questions, find answers, do mistakes (hopefully they will learn that the mistakes will be as big as the quantities) and find lots of joy on learning about defi without any regulatory crap in it.
Well done... so far. And appreciative of the extra details.