Engine Notice and reality check: "bUt thE vOlUmE oN eNGiNe SUcKs"
Guys, I know we're dex. I know we're small. But if you have the notion that steem-engine and hive-engine can't move volume... you're just wrong.
In the last 24 hours the two engine markets just in steem/hive trading have done nearly $80k USD.
Are we a powerhouse? No.
Are we perfect? No.
Are we capable of exchanging your powerdowns? Yes!
Market Maker and more coming soon(ish)
We've been working on a market making script for a while. It's hopefully done this month. Everyone will have the ability to run trading pairs on the dex. If you don't get how it works you buy and sell, AT THE SAME TIME! How does that make money? You don't list at the same price, you make a small spread, so when someone buys you make some money, and when someone sells you make some money. When you buy you list it for sale again, with the spread. When you sell you list it for sale again with the spread.
Get it? That's how market makers make money.
Transactions are free on Steem/Hive and there's no commission on trades on the dex. We're built for distributed market making. Should be awesome! You just got to watch the days the price ratio between the pairs goes crazy (probably shut down the bot). Because the way the bot "loses money." Is that on a day where there's a giant price move you sell all of one asset for the other and then it can't trade anymore. So, with market makers you typically have to watch out for big price action days.
bUT aGGroEd eNGiNe is tOO eXPenSiVE!!!
We charge a 1% fee going in and going out. No doubt there's a cost there, but it's a lot less than when your raging "Uncle" comes to take 20-40% and goes back a few years when they do.
Also, don't be that guy that gets caught when the fucking exchange exit scams on you either or closes shop on remove your keys day and you find they were fraudulently printing btc. You get what you pay for guys. Exchanges are sketchy yet potentialy highly profitable businesses and perfect exit scams. Be careful, and don't trust people with your money.
This is the first month we're collecting for tribes. If you have a tribe this is the first month that you have to figure out hosting. You can
A. Host the tribe yourself for free
B. Have us host the tribe for $50 for the month
C. Have us host the tribe by staking 1 BEE for a Hive Tribe or ENG for a Steem tribe per user up to a maximum of 5000.
D. Have us take down your tribe
Be sure to reach out before the end of the month.