I would use Magi for all my trades if it actually had the liquidity to facilitate them.
With only a couple thousand dollars in the pool it is currently non-viable.
The even the $50 test I tried out had slip that was too high.
Worked as intended though.
This entire network is a direct and massive upgrade to HiveEngine.
It's honestly what HiveEngine should have been from the beginning.
At this point with all the exchange delistings and KYC it doesn't even feel optional.
Absolutely. Wouldnt you say that Magi would not be viable at all as a crosschain liquidity layer if it had no liquidity? 😅
I would say so... hehe.
What I am trying to say is that we know, pools have been live for 2 weeks, we are preparing for significant liquidity to come in from possibly the most dedicated and historically important contributor to the Hive blockchain ever. His stamp of approval, not only as a Hiver, but as the person that built the first ever DEX in the history of crypto is something we definitely look forward to and will be very proud of. The incentive pendulum and the economic security layer is the last piece of the puzzle.
This entire conversation would be a dismissed afterthought if the price of Hive was over 20 cents.
I find it more than a bit annoying that people are just reactively willing or unwilling to make an investment based on the current spot price. We really should be more divorced from such things, especially when the network is doing well and nobody has an opinion on what's getting funded.
I mean, I hate the market position we are in more than anything you could ever imagine. Its one of the top 3 things I hate most in life. In no particular order.
But I see more people having an opinion on whats funded at these low prices and even if its coming from an unwillingness to make an investment I want to hear why that is. For better or worse, I have never been one at a loss of words when it comes to a discussion. 😅
I could do corpo-talk easily here. Its easy but dishonest. People know me too well here already.
There is a saying in Croatia paraphrasing: "A donkey and a man are smarter than the man alone."
Not calling anyone a donkey but the point is, if theres even remote value in a criticism, in any feedback, it is valuable to listen. So for those that are reluctant, tell me why...
Ultimately, proposal or no proposal, Im just a die hard Hiver that will do his absolute best to make this chain a success and if anyone sees where we might fail, although I have utter confidence we will not, anything that would help us succeed, help Hive succeed, I am all ears for. Its not just funding, its about where we want to end up as a chain tomorrow. Thats what Magi is. Its a chance, a good one at that.
We've gotten to that point in the cycle where nobody wants to hear about the potential of a project and everyone wants to see immediate results. Makes sense when we consider how many people got burned on pretty much every investment they made over the last 4 years.
Hopefully when Altera has decent liquidity the result and utility will be harder to deny.
Honestly the loss of MEXC to KYC was a real nail in the coffin that I don't think enough people are taking very seriously. Maybe Hive has been floundering for so long with little access to countries like USA that we're collectively shrugging and assuming that this is how it will always be.
Come on man. Thats not a fair comparison. You know this. You probably used Changely via swapspace because its the cheapest. Swapspace is just an aggregator for all the centralized exchanges. Youre sending your money to someone else to an account they hold keys to.
They have often AML freezes, 1.8 BTC last year. 70k DOGE, a bunch of other bigger ones.
Theyre decent at what they do but theres a reason why Thorchain does billions in volume per year and why the market is moving towards DEXes.
You could say... I made a facebook post, a twitter post today just fine. Why use Hive?
What we are building is the equivalent of what Hive is for free speech and freedom but for the financial space.