How much do you know about Hive-Engine ?
How much do you know about Hive-Engine ?
If you are in Hive and spend some time here then I m sure that you are already aware of Hive Second layer and Hive-Engine which powers the Hive Second layer and also acts as an exchange. It connects the Hive world to the outside world or vice-versa.
The initial purpose of Hive-Engine (its history backdated to Steem days, when it was created as STEEM engine, and with the fork STEEM/HIVE, it is created in Hive blockchain too.) is to give the ability to create tokens governed by smart contracts and Hive users can create a token for fees, monetize its community by that token and of course, Hive-Engine acts as Exchange for these token,
This is one of the most primitive and old use cases of Hive-Engine and with time, Hive-Engine allowed the user to have coins from other chains also (with SWAP. appended before their name.)
As you see the standard Withdrawal and Deposit fees are .75% (except for ETH, BNB, Polygon, and associated tokens where deposit is free and withdrawal has a 1 % fee)
Liquidity and high fees may be a concern for big orders but for small transactions, they serve the purpose and effectively giving a bridge to other chains for Hive. Also, note that there are no trading fees in Hive-Engine that somewhat supplements its deposit and withdrawal fees.
SWAP feature.
Hive-Engine "swap" feature takes care of the swapping between 2 tokens. It can take care of swapping itself even though there is no direct bridge between those 2 tokens.
I will say it is more about convinience but if you understand the pool and pairs, I will recommend using Tribaldex and do the swap.
Leasing feature.
This is one of my favorite features and it allows users to get delegation. Users can purchase delegation of HP, RC, and BEE and pay for delegation by using SWAP.HIVE, BEE, SPS, and DEC. With the recent dlese.io glitch, this service attracted many people but I expect much, more activity for Hive-Engine in this front.
Explorer.
the official explorer to verify the transaction is https://he.dtools.dev or https://he.dtools.dev/<@Hiveusername> to verify the transactions done by the user.
I feel Hive-Engine is a nice addition to Hive ecosystem and I hope it will have more liquidity in the future and have less deposit and withdrawal fees.
Let me know what feature of Hive-Engine you like and if I missed something.
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I think the internal market but I guess that might be covered in the swaps. I never really considered the swap feature in Hive Engine's default interface though.