After being “blacklisted”, I didn’t really have much interest in participating HIVE and former steem engine tribes that decided to migrate.
- I mean, most of my followers/people I follow are still here at STEEM, and I get downvoted heavily over there so why would I move.
Quick advice for Steemians like me…
Even if you don’t plan to participate in HIVE, make sure to check your hive-engine token balances. It may be worth something.
I find that using DEC market is the easiest and most cost-effective way to move HIVEp to STEEM (or STEEMp).
A while ago, I was notified that there would be some hive-engine tokens if I had matching steem-engine tokens. I looked them up, and it seems that I got bunch - in particular, LEO and PAL tokens were worth some money.
So I started unstaking them, and forgot about it.
And today, I was pleasantly surprised to find that I got about $200 worth tokens to sell (mostly LEO).
- I still don’t know how this BEE and WORKERBEE things work - my understanding is that they are mirrors or ENG and EM(EMFOUR). I guess that I got WORKERBEE staked as I staked EM long time ago and they “airdropped” WORKERBEE, as I myself did not do anything.
Fortunately, the price of LEO token has gone up significantly since my unstaking. It was below 0.05 then.. and now it’s over 0.2. Cannot complain, right?
After selling LEO and PAL, I had about 740 HIVEp. Great!
- I could have placed sell order to get a bit more, but I didn’t want to waste time so I just sold them at the bid price. Good thing is that both markets were liquid enough so that I could sell mine without moving prices.
I got some HIVEp. Now what?
As I need to convert HIVEp to STEEM (or STEEMP), I looked for some options. It seems that DEC was the best choice of transfer medium.
DEC is listed in both steem-engine and hive-engine,
Bid-ask spread is very small,
Liquidity is great.
- I assume that 2 and 3 are thanks to the Splinterlands team bots.
Let’s take a look. First, HIVE engine.
DEC price is pretty stable, and bid-ask spread is like 0.00001. Effective spread is also like 0.00002, which is basically zero.
I could convert my HIVEp to about 240K DEC.
Now let’s go to the STEEM engine.
Again, liquidity is great and I could trade with minimal slippage cost.
Good thing about using this method is that you don’t need to pay conversion in-and-out fee of 1% when you use steem or hive engines.
I easily transferred my DEC from hive engine at no cost, and I may easily transfer DEC to steem engine at no cost too.
So should I desire, I can send DEC to steem-engine and sell DEC for STEEMp whenever I want. Cool.
I noticed that they have “SWAP.STEEM” token too, but I didn’t bother studying this. Also, bid-ask spread seems to be a bit wider too.
- Would appreciate if someone let me know how this works and whether it is more effective to “swap” between HIVE and STEEM.
This page is synchronized from the post: ‘Selling “Leftover” hive-engine tokens’