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RE: MINING RobiniaSwap (RBS) Tokens? Could you be making one of these mistakes?
I was doing "harvest" daily for the first few days as the rewards were so great, but now that inflation has come down, it's no longer worth doing it more than once a week (or even less)
Thanks for the advice
Ps, there seems to be a bit of a pump going on at the RBS price which sounds great, but I wonder if there has been some news that triggered it?
Good points @qsyal :)
It's hard to tell. I couldn't find any news that could explain current price pump. Let's see how long will it last
I'm assuming the value of RBS will go up as long as there is new users coming... It's kind of pyramid scheme. Essentially people need to buy certain amount of RBS before they can start staking.
hi @mtl1979
Great to see that you're still around :)
That doesn't exactly work this way. Most people seem to be staking their crypto using RobiniaSwap. We're mostly staking our steem there, without really buying any RBS token. This way we're providing liquidity to the liquidity pool.
And we're being rewarded with minted RBS tokens for doing so.
Cheers, Piotr
Minted coins itself don't push the price up... Only fulfilling sell orders will...
If you calculate token value as ratio of currency pair in liquidity pool, then the value should stay same or drop when minted coins are used. That's because good contract tries to "expand" the liquidity pool by keeping the existing ratio.