The next LP opportunity: DEC
After HIVE and LEO, there is another major Hive token that has joined the Uniswap universe. DEC is now also tradable there and there are also some benefits to providing liquidity as well.
The full article is here explaining the whole process
But in short:
- LAND in exchange for Liquidity
- Raffle tickets for future prizes in exchange for Liquidity
30 days until land goes for sale so why not? 3000 LAND at a full sale price of 2 USD is 60k at 1000 plots per 30 days.
Find out how much is in the pool here: https://uniswap.info/token/0x9393fdc77090f31c7db989390d43f454b1a6e7f3
I have spare ETH and I have a decent amount of DEC so I figured I would participate in this pool as well as the WLEO one.
I really believe in Splinterlands and the last AMA only confirmed the hunch that they are really thinking big. Plus getting the angel investment from the man that founded Zynga games (Eric Schiermeyer) is truly a big thing
An assumption of mine is that he is also one of the whales that have come into HIVE last month making the fears from @revisesociology and @taskmaster4450 in their power distribution posts
post1
post 2
And that would in fact negate their fears as it would be a sign that our blockchain is finally getting some more attention and more HIVE will become powered up and Illiquid
I put up some practical tips to joining the DEC pool:
STEP 1. Check the Liquidity pool
https://uniswap.info/token/0x9393fdc77090f31c7db989390d43f454b1a6e7f3
STEP 2. Link Splinterlands to Ethereum
STEP 3 Click "find my address" to have Metamask come up and accept the token linking
STEP 4 Transfer your DEC from HIVE
To do that you have to make sure that all the DEC you want to transfer is in your In-game wallet and when that is done select the Ethereum wallet and press transfer out. As you can see I have done that here and paid the 1000 DEC fee already and it has shown up in the ETH part of the wallet. Note: Do not be alarmed if this takes a few minutes as it needs some confirmations on the ETH blockchain.
STEP 5 Find the correct pool
Once you have done that by going to UNISWAP to find the correct pool or just follow the link below.
https://app.uniswap.org/#/add/0x9393fdc77090f31c7db989390d43f454b1a6e7f3/ETH
You will be taken to the next screen and there you either put the amount of DEC you have or ETH and it will fill in how much you need to put in to create the balance. Which in my case will be 0.4 ETH and
STEP 6 (only first time) Approve DEC
If this is your first time trying to add DEC liquidity you will have to approve DEC .This needs a signed transaction on Ethereum and will cost you some gas fees. In this case the fee is reasonable at 1.11 USD in comparison I paid around 5 usd when I approved LEO. Take into account here again that this might take a few minutes until the transaction has made its way through the system.
I personally decided to add 0.5 more DEC so I did a swap that brought my DEC total to 421071. This will force me to put up 0.89 ETH for the balance in the pooling.
STEP 7 Jumping in the pool
I pressed supply, had to confirm on my metamask and paid another 5.14 USD fees and was off to the pool supplying 0.57% BUT if you take into account that 50k Liquidity was provided from the Splinterlands team @aggroed & @yabapmatt as they explained in the post and the AMA. This means that for now I am roughly at 1% of liquidity instead of 0.57
Rough ROI calculation
I will leave it to @neilmcspadden to do a excell sheet video for finer details.
1000 plots per month means 33 per day
1% is 0.33 plots for me per day if the pool stays as is.
about 10 plots per month at 2 USD is 20 USD
That amounts to 3% per month which is not bad for a 650 USD investment. Take into account that there are no trading fees and not raffle prizes in here as well.
So, are you joining in this pool as well or are you sitting on your dec to buy more cards. Land is in one month so you have some time to jump in the pool with me if you want
Posted Using LeoFinance Beta
