DeFi on Hive blockchain

Hive blockchain is growing in so many directions and the mature projects from here like Splinterlands or Leo Finance properly the entire ecosystem to new highs and to a new era. And as things are evolving and in order to capture user's appetite for investments, it was normal to have some applications address DeFi. And the implementation of DeFi on Hive blockchain was achieved for the moment through TribalDex which offers the ability to create Liquidity Pools and to also define specific rewards for the participation in them. And while my investment was pale in the beginning, I am starting to become more and more trusting and expand my involvement as a Liquidity Provider.

Being a Liquidity Provider provides rewards for supporting specific pools and that is a good incentive for some passive income. How do I choose the Pools in which to get into? Some would choose them by the rewards they are offering, but in my case, the prime factor is actually the project itself. As I am an avid game player on the Hive blockchain and dived into most of the games from here my options as an LP were for cryptocurrencies as SIM (DCity) and STARBITS (RisingStar). Correlating this with some healthy rewards as the pools are rather new they give me some good returns which challenge the return of serious DeFi projects from BSC or Ethereum.

First Liquidity Pool that I have chosen is HIVE:SIM. As I already had the tokens in my Hive-Engine account from ingame rewards and some posting rewards, I've paired them as 100.789 HIVE:84953.794 which produces 122.610 SIM per day that is valued at $0.08. The HIVE:SIM LP return is around 25% which is a pretty good number.

The second Liquidity Pool that I have chosen just today is STARBITS:PIZZA. The main criteria for it are that I am playing RisingStar and I've already had a bag of STARBITS. I've just traded some from PIZZA and then pair them together in the proportion of 306.87 PIZZA:379232 STARBITS. The return of the pool seems to stay at a hefty 275% with a 5% Daily bonus for 23 Days. After that period I am curious what will happen with the rewards and what returns will the pool still offers if any.

The potential of second layer tokens on Hive blockchain is immense and we can tap into that with the Liquidity Pools and the rewards available on different pairs. Wheter we are using TribalDex or BeeSwap to get us going, it is a great opportunity to try DeFi on Hive blockchain without living this great ecosystem. We are already knowing and trust projects around, so this is much easier from DYOR point of view and we have better knowledge about the investments we are having.

Posted Using LeoFinance ^Beta