RE: Hive Must Implement Network Effect Like Crypto Exchanges by methodofmad

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hive-167922 · @methodofmad · Oct 25 '22

In the link to Internal Exchange, the definition has
The internal exchange is a decentralized exchange (DEX) on the Hive blockchain. It is part of the base layer code. Here is where people are able to swap $HIVE for HBD and vice versa. It does use an order book similar to centralized exchanges.

*There are no transaction fees associated with trades occurring on the internal exchange.*
But isn't there a loss of 5% when converting Hive to HBD on the internal exchange? While that isn't a transactional fee, isn't there a cost of 5%? So, the net on the first year is 15% APR, not 20%?

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@andablackwidow · Oct 26 '22

$0.11

5% fee is on conversion from Hive to HBD, not on internal exchange.

Internal exchange is when you place an order and wait for it to be matched with opposite order from other people. Your existing Hive is sent to the other guy and his existing HBD is sent to you.

On the other hand you can convert Hive to HBD without involving other people, however you pay 5% fee for it (just Hive-to-HBD, HBD-to-Hive conversion has no fee). In the process you burn Hive and print new HBD. Their respective supplies change.

👍 methodofmad

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@methodofmad · Oct 26 '22

Thanks. I appreciate the information. Where is the internal exchange located? Is that like Tribaldex?

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@andablackwidow · Oct 26 '22

$0.08

On the blockchain obviously, you interact with it with use of `limit_order_create_operation`/`limit_order_create2_operation`, but I'm pretty sure such answer would not be satisfactory :o)
It depends on what wallet you are using. When I need to use internal exchange I do it on https://wallet.hive.blog/market but I'm sure there are other tools that give you access to that exchange.

👍 methodofmad

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