Hive Engine: A Guide to the Hive Blockchain's Layer 2 Hub

Hello Fam!

I hope that life is treating you well wherever you are in this part of the world.

Hive Engine is the go-to place for everyone at Hive for Layer 2 token trading. There is a lot you can do at Hive-Engine apart from token trading, so in this blog, I will be sharing information about it. I am trying not to make this blog so lengthy, and this is why I will publish a series of blogs related to this topic. I have been using Hive-Engine for the last few months, and my experience has been amazing. I never had any problem with this platform.

What is Hive-Engine?

Basically, Hive Engine is a platform where you can create tokens, trade tokens, SWAP, and lease, etc. You can also stake layer 2 tokens and earn rewards if this is supported by the community. It's a great place for communities as well because they can create their token and empower their community through tokenization. In simple words, it's not just an exchange but much more than that, and it offers a fantastic experience.

Hive Engine is a platform that empowers communities, project owners, fundraisers, developers, and businesses to quickly and easily build on the Hive blockchain like never before.

What Hive-Engine Offers?

It offers a lot. Below is the list of offerings by Hive-Engine. You can check the market for all the listed tokens, prices, trading volume, etc. You can trade on the tokens you want, and the SWAP option is also there in case you just want to swap one token for another and don't want to go through the market price fluctuation. The swap will happen at the market rate, and this is an easy process.

Market- Check the listed tokens and all about them
SWAP- Swap Tokens
Lease- A marketplace where you can place your request for lease or also fill the existing ones to earn rewards
Tokens Creation- Create token for the community
HE Explorer- Check all about the tokens, and it allows you to access a lot of information.
Token Trade and Conversion- Trade on any tokens you like, and it's all FREE, so you don't need to pay for trading like we have to pay on exchanges
Rewards Claim (if offered by the community)

How to get started

We can access the platform through the URL- https://hive-engine.com, and login is very easy because it's integrated with Keychain. You just need to enter the account and click on the login button. A keychain pop-up will appear, and you need to confirm that, and you are done. It's that simple, and even a kid can do the login. I can say that the team behind Hive-Engine has been focused on making it easy to use so that even a beginner can use the platform without any problem.

How to Deposit?

Go to the wallet option provided on the page and select deposit. A window will open where you can see a list of tokens, and you need to select the token you want.

Like I selected HIVE. We just need to enter the amount and proceed. In the next window, you need to confirm the transaction, and that is all. You will receive tokens in your wallet, and there is no charge for Hive deposit, which is great.

How to Trade

In Hive Engine, we can trade with any listed token against HIVE, and there is no fee applicable. Go to the market and select the token you want to buy or sell, and in this example, I have selected the BEE token. There are certain steps that you need to follow for trade.

Trade any Hive Engine token against HIVE on the internal DEX!

In the market section, information about the token price and trading volume, etc. You can also see the ask and bid price in the market, so overall, you get all the information about the token in this section. The price graph is also there to see the trend, and it's good.

Scroll down to buy and sell, and here you can place orders to buy and sell, whatever you want. Note that all this is available against the HIVE coin only.

An open order book is available after that, where you can see the list of buy and sell orders, and this can give you a better idea of the demand and supply of any token in the marketplace.

Scroll down a bit, and you will see the list of executed orders. It's all well placed, and we need not jump in different windows for all this information, and this is good.

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I have provided the basic information in this blog about Hive-Engine. I will be sharing more information in another part soon. I hope you like this blog, and if you have any questions, please ask, and I will answer as best as I can. Thank you!