Hello there everyone!
I have been noticing about the new trading platform, which is developed in HIVE blockchain. I am talking about DSWAP.Trade. Dswap utilizes the layer2 smart contract (HIVE-Engine) to perform its operations. I decided to try it out and see for myself what is happening out in here and how could someone get benefited from this new trading platform.
Dswap has been introduced to us as an option, where we would be able to do automatic trades while buying/selling cryptocurrencies. I tried the features of Dswap and there are certain aspects which would literally change the course of trading. Especially for those who are in the big game.
Here are all the options which are currently available is DSWAP.Trade. You can swap, use market DCA, Pools DCA and also use the market maker. Today, I went through the MARKET DCA and tried it out myself.
I tried using the features of Dswap which is why I decided to buy some SPS token using swap.hive. Which is why I had to bring in my HIVE from HIVE wallet and converted my HBD to Swap.HIVE using the service of Uswap. I often use this service for conversion of my HIVE-Swap.HIVE or vice versa. I also use beeswap for such transactions.
Market DCA
This is where things get interesting. I mean you must have used this feature in certain CEX/DEX. Where you felt like purchasing a certain token with a big amount but there are not much liquidity or the margin is too thick or there are you are not able to purchase or sell a token as you get front run every time you put a buy/sell order. This is where DSWAP.Trade comes into play.
As you may notice I tried the trade with 15 Swap.Hive. In the tab of I want to Spend is where I input my swap.hive balance and in the To Buy tab I went out with the token which I desired to purchase. The best part starts from here, in the MARKET DCA Settings. Here you can input how many trades/orders would you like to initiate at a given interval. As you can see I took the liberty of putting 3 orders after every 5 minutes interval. So after every 5 minutes my 5 swap.hive order will go into effect in the market without me interfering any further. There are pros and cons to this service as well. There are multiple risk factors out in here. Lets assume the price slighly goes up during buying and your order are yet to go into the market, you will eventually end up getting less tokens also vice versa situation might also take place. Which is why, its better to DYOR before jumping into conclusion.
My DCA History
This option is very helpful when you are purchasing or selling a token in bulk. As this will help in breaking down the orders and putting them up in parts. You can give the time frame and orders to avoid buying without moving the market way too much or the either way waiting too long for your order to go through.
Let's take the situation for 10,000 Swap.Hive order. In here, with the exact setting, it will put up three orders of 3333.33 swap.hive each in Hive-engine. Now if I input the 10k order up in HIVE-engine, the chances are it will have to go through a tough time filling up the order or there will be someone who will front run me and increase the price hence my order will attract attention quite a lot. Or if I go with market price in HIVE-Engine, I will end up buying in a much greater price. This scenario might also happen in where there are low pressure of buying and selling.
Which is why I do believe Dswap can play a very important role for this sort of swaps. I am more excited about the Pools DCA. I will try it out later as this will be the most intriguing and excited DCA for most.
Try out Dswap : https://dswap.trade/
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Best regards
Rehan
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