A noob having questions about "Diesel Pools", any help is welcome...

avatar of @pele23
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2 min read

Diesel Pools

The name sounds very strange, it really makes me think of a pool of diesel on the lot of wrecked car cemetery. But apparently it is something very useful in DeFi and crypto. It is supposed to provide liquidity. But I am a complete nood at this, and I would like some answers to some really simple questions.

  1. To whom am I providing liquidity when I put down tokens in a diesel pool? It may sound ridiculous to ask this question, but I have deposited some SPORTS and an equal amount of HIVE in a SPORTS/HIVE pool. But I have no clue whatsoever who is benefiting from this, and why this kind of action is helpful. So, be free to answer me in layman's terms.

  2. What is in it for me? As I said above, I have put down some SPORTS and some HIVE, and I am supposed to get rewarded for providing this liquidity. But how? And when? And from whom? I know the amount I deposited is very tiny, but it was out of curiousity that I did it. But now I have even more questions, as I can not see any rewards for me. And Tribaldex is supposed to project 24 hour rewards, but apparently those are not available. So I am even more in the dark now. So feel free to enlighten me on how and how much (or how little) this will reward me?

Knipsel.JPG Apparently I am not in a good pool... ;-)

  1. Any good advice? Last but not least! If you have some tips about how to make this as profitable as possible, you can tell me, I am no whale so, I won't take your best positions away from you.



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