Do you use Diesel Pools for swapping tokens?
In the previous days, I saw some examples where people were overpaying for LEN tokens on the market when they could buy them much cheaper in the Diesel Pool. In ordre maybe to provide help through tutorials or explanations, we would like to ask you the following questions:
Do you use diesel pools to swap tokens? If not, what prevents you from doing so? What could we explain to make the diesel pools more user friendly?
If you are not using the diesel pools, you are actually allowing bots to earn on your behalf. Check the video to learn why.
Please leave your answer as a comment below this post.
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Certainly, one of the ones I use most is LEN for LENM. Another one I really like is NEOXAG for BRO and POB for SWAP.HIVE.
They make the token exchange process so much easier and that’s amazing.
I love to swap tokens easily within the liquidity pools. You get a better price than the sell price on the market most of the time.
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Yes, I do this regularly, basically, I get different tokens from the archon and dhedge daily drips, and then use the swap function to turn them into swap.hive. I also swapped Len in Lenm.
The swap price is somewhere a shade lower than the official HE price, usually somewhere in the middle between Ask and Bid for all tokens in pools...
If there are bots on the market, they kind of make sure that the pool price is situated somewhere between buy and sell price on the market.
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Yes, I would compare the trade outcomes on the exchange as well as diesel pools to see which one is a better deal. I think the slight issue is on the exchange you know exactly how much you are getting, but for the diesel pool route, there seems to be this slippage/minimum amt etc to take note.
I realised that in about 90% of the cases, you get the price that appeared in the swapping form. The slippage matters only when there is little liquidity or you need to swap big amounts.
I see, thanks for the info!
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Thanks!
P.S. Sorry for the delayed reply as I was on vacation!!
Yes and No 😂
You can't swap everything there and the price is sometimes better or worse than the market. Sometimes I need the usual market to do that.
More detailed information? I think... 🤔
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Thanks for sharing!
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I'm aware of diesel pools and already used them for swapping.
At the moment my token trading and swapping activity lowered but I use it.
It's a matter of what you want. If you want to swap token in the very moment pools might be better. If you wanna trade and have time to wait to get filled HE isn't that bad.
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I agree. If you have time, you might get a better price if you set a sell order and wait it to be filled.
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Haven't explored it yet, but I'll give it a try. Every penny helps the account growth.
It can make a big difference :-)
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I use diesel pools most of the time to swap tokens, I found it easier and more simple than selling or buying through the market page. But there are some cases where a token is not supported yet and this is when I use the market page. I think it depends on the token and the needs or preferences of the user.
Creating diesel pools costs quite a lot of money and not all token creators have the funds to create them. That's why some tokens don't have pools.
Thanks for the explanation. I hope it becomes less expensive to create diesel pools as growth and development continues. I think there are more good upsides than downsides in creating a diesel pool for a token.
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I am using it more often now, especially when I can easily swap Len to LenM.
Also, I used them to swap some of the lesser-known tokens that I get daily if there is a liquidity pool for the said token.
But unfortunately not all of the token has the liquidity pool to swap it in the diesel pool.
!DHEDGE
Tokens that have liquidity pools are actually much more stable than tokens that don't have any. Since there are arbitrage opportunities thanks to the pools, tokens can't tank as fast as on a market alone.
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STOPI use them as a quick way to get tokens that I want instead of using the market. :)
They are great I believe.
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It really depends. Sometimes, I just put in a few lowball bids to wait for desperate sellers looking to dump on the market and get whichever tokens at a nice discount. Other times, I will use the diesel pools if they give a better price (which they do most of the time actually 🤣).
If you have time to wait for a seller, then most of the time you get a better price but if you need to swap immediately, then often the price in the pool is better than the sell price on the market.
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Yes. I am a fan of diesel pools. I usually use them on bee swap.
!PIZZA
I also like to use bee swap or tribaldex for dealing with diesel pools.
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I'm going to start testing it.
Thanks for the video.
!WINE
It's worth to test them. You can save quite a lot of money in certain situations.
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I use them continually. They are very simple to use.
I think so too.
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I use Diesel pools for swaping tokens and for providing liquidity to the different tokens. Mostly in the DEC and VOUCHER areas.
They are great tools, especially when you use them in all possible aspects, like you do.
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I don't use diesel pools because I have no idea how they work. From what I'm reading in the comments, I'm losing for not doing it. ☹️
I would need this: 👇😅
Thanks for your comment. They can seem quite complex but for swapping tokens, it's actually pretty straight forward. We might make a tutorial for 4 year olds 😂
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Thank you! 🙏 Merry Christmas! 🎄♥️🤗
I would compare first before executing. Whichever yield better, I will execute that.
That's a great way of doing it.
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I use it quite a bit. Lots of tokens don't have enough offers in the market, very small volume, and it is a lot easier to trade using the pool.
I think the pools are very user friendly, the problem is that not many people knows about it. I've seen a lot of people that has been around for quite some time and still didn't know they could trade tokens using the LPs. Also some people complain about the fees, but the advantage to be able to trade right away instead of waiting in the market for a low volume token to be traded is worth the fees.
The spread on the market is almost always bigger than the 0.25% fee that are taken in the pools. Especially for bigger swaps, liq pools are such a great tool to get a good price when exchanging tokens.
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I use diesel pools for swapping tokens (mostly LEN for LENM), adding liquidity for those and a few other tokens.
It's great to see people using the LEN:LENM pool to do that!
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I mostly use diesel pools for swapping LEN tokens for LENM tokens.
I'm happy to hear that :-)
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Yeah! And I also do arbitrage with some tokens. Sometimes there are incredible opportunities.
It can make sense to look for such arbitrage opportunities.
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For me Diesel Pools are heaven for exchanging tokens on much better prices than active market. I usually need tokens for SPLD pools, so it's almost my biweekly job to swap SPS, DEC, Vouchers, in Hive and vice versa.
Now, I also use it for Zing and some other tokens.
I also like to swap tokens in the liq pools, especially when I have bigger quantities.
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no i havent use the diesel pool yet. this is my first time hearing about it.
Ok, thanks for your comment!
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Yes I have used this feature a few times.
When I want to convert one token to another I always check first which method is more convenient between trading on Hive Engine or Swap in liquidity pools
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There situations where the prices can be quite different and it may be worth to check.
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I use whichever gives me a better yield! 😅
It takes a couple of seconds to check it out but I believe it's worth it.
Yeah definitely! Who wouldn't want the best deal out there right? 😁
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Thanks!
I do use them from time to time, but I generally prefer the normal market book. It's been a while since I last used it and the last time was for LEN to LENM or STARBITS to STARPRO.
We all have our preferences but I think it's great that we have two options to swap tokens!
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Yes, almost exclusively if I need to swap right away unless there isn't one. If I swap a bigger (big is relative, lol) amount, I may also check the order books. If I don't need to swap right away, then I may prefer the order book to set a limit order.
I like the fact that I have two options and regarding time pressure, prices and liquidity I can make my choice. It opens a lot of options in my opinion.
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I've occasionally used them to swap around Splinterlands related currencies.
I do that too :-)
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Yes, I prefer to use diesel pools where swapping out tokens instead of selling to swap.hive then buying the token I want. I use it mostly for Splinterlands related tokens and also Genesis League Sports tokens. There are a few others but those are in very small quantities for me.
For some tokens there are plenty of pairs in diesel pools and you can get directly the token that you want and don't need to pass over swap.hive. That's truly a great feature!
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I presume is much easier to put them LEN for sale, and wait until they are sold. It is much easier. Maybe the pools need more awareness and exposure.
For me swapping in a pool is by far the easiest way to exchange tokens because it's almost instant and I know that I get a middle price. Of course if you have time to wait until an order is filled, then putting sell orders on the market is the right thing to do.
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I haven't swapped I mainly still use the exchange. But I do provide liquidity for sure to earn those rewards on the swaps. My main focus has been the Splinterlands swaps with DEC.
I like to use the pools to swap bigger quantities of tokens. Often the order book on the market has difficulties to absorb big orders and it's great to be able to swap on pools I believe.
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I always use it to exchange LEN for LENM, it's a great deal to keep a large number of LENM!!!!
the pool LEN:LENM was built so that people could reinvest their LEN into LENM. I think it's a good tool and I'm happy if people are using it.
Yes, it's my way of increasing my income passively and increasing the value of my capital!!!
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I don't swap or trade HE tokens often so I seldom go to the market but yes, I'm aware of the Diesel Pools and I've swapped there a few times in the past.
It's cool that you are going to have a tutorial about it. Will be a great guide to people :)
Sometimes, things seem so clear to me but for others it could be helpful to make a basic tutorial how to use these tools.
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wah I missed this mission
I rarely used diesel pools for swapping, mostly just sold shit tokens directly and collected swap.hive
I especially use diesel pools for that purpose because most of the time the price in the pool is better than the best buy price on the market.
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I am usually forgetting to use diesel pools! But will try to remember! haha