HOW-TO guide on using hive-engine DIESEL POOLS
Hello followers and new users, I have been moonlighting by helping new users in the hive-engine discord, where there have been a ton of new users asking noobie questions, which is natural. One of the great things about being a part of a community is giving back, and on HIVE giving back can be greatly rewarded in the form of votes on posts!
Yesterday I got a request to make a guide on diesel pools, which can be seen on tribaldex.com. But I am going to make my guide based on https://beeswap.dcity.io/ - which I love and has a great new interface to interact with these fancy new pools.
Let's go there now:
Many of you may know beeswap is a discount conversion pool between HIVE and SWAP.HIVE. Here (on the CONVERT tab), any user can swap HIVE for SWAP.HIVE or SWAP.HIVE for HIVE paying only 0.25% fee, much superior to the 1% deposit/withdrawal fee on the hive-engine site. Beeswap displays the liquidity so you never have to wonder if there is enough to swap.
It also has a superior multi-account management system to tribaldex, you can click in the top right corner to 'manage accounts', and all transactions use HIVE-KEYCHAIN, so make sure you install that to get going.
Now to see the diesel pools, lets click 'SWAP' tab on the top right.
Swap Tab
On the Swap Tab, our first option is swap, here we can use the pools to swap between tokens. Click the 'Select token' sections to fill out the tokens you want to swap. Multi-swaps are not possible, so you must select a pair that actually has a pool. You can see the available Pools on the 'Pool' tab.
The pool tab has a long list of all the pools, their relevant liquidity and pricing, and any rewards they may have for providing liquidity. Not all pools offer rewards for liquidity providers.
Back on the Swap tab, lets make a swap. I am saving up BEE for a secret project, so I will swap my daily SPS airdrop for BEE using this tool.
I selected SPS, then I selected BEE, then I hit the MAX button next to SPS. Beeswap fills in all the rest.
By hitting 'SWAP', and after confirming the transaction with keychain, I got 53.576 more BEE than I had before, after waiting a few short seconds. There is no TX fee on HIVE, and no swap fee on the diesel pools, so these swaps are 'free' (Rechargeable RC required).
If your trade is large, you will want to increase the slippage percentage. This slippage percentage has to do with how much the price moves based on your swap. Beeswap shows you the estimated Price Impact, so if you see it is greater than 0.5% Header 5, you will have to select a higher number or the transaction will fail.
Your Positions Tab
I am providing liquidity for two pools. Here Beeswap shows me the rewards I should expect, and at which time. These rewards are currently invisible. They do not yet appear on the blockexplorer, but there is a tool to see them, its Kanibot, by developer @bala41288. There is a small monthly fee, but this bot will alert you of everything that happens on Hive-engine layer - check out their discord here.
I have used the time of day to watch them appear in my wallet. Before I had less, after I have more. There was a bug where if you added more liquidity it would skip a day for rewards, I am trying to confirm that it is fixed, or on the list of things to be fixed.
ADD LIQUIDITY Tab
On this tab you can add liquidity, which you should only do if the pool has rewards. I mean, why add if you won't get rewarded?
Select the pool you want to add to, and make sure you have matching deposits. If you only have one of the tokens, go back to the SWAP tab and swap half for the paired token using the same pool.
Use one of the MAX buttons if appropriate, and hit 'ADD LIQUIDITY'.
Remove Liquidity
Here you can only select from pools you already have liquidity in. The interface is very intuitive, you can remove a specific amount of either token, or a percentage of your position. Either box you fill out, Beeswap with auto-fill the rest of the boxes.
Here is an example removing 1000 swap.hive. When you are ready, hit "Remove Liquidity'.
I hope this guide was helpful! Feel free to ask any questions in the comments section of this post.
