Its been a while since I have posted on LEO finance, I must say my day job has been taking up lots of time and family too.
But one thing was bothering me so much, and that was when I saw that the liquidity on Tribal DEX show ridiculous high liquidity amounts and volumes in USD for the AXS coin pairs.
Total Liquidity Graph
You can see in the graph that the liquidity jumped up dramatically, I wanted to see where all this liquidity was flowing from. And it was obvious it was from the AXS pairs when looking at the top pools
But you see the problem was the price was wrong for AXS, and this was giving an incorrect price for SPS of $42 (which is more than 100X the actual price). This made the size of the liquidity pool expressed in USD too high.
What is the cause?
The cause of this discrepancy is that the tribal dex UI uses the market price from the order book's last trade to determine the USD value. this means on coins that don't trade often in the order book, you can have very distorted prices.
So what did I do about it?
I decided to fix this and trade a very small volume of Hive with myself to correct the situation. Here were my trades
This way I traded at a much more realistic price, and then this corrected the issue for the time being
The results
The AXS pools then dropped down in rank as they should and the top pools were now the splinterlands pools. which seems right.
What happened next
To my surprise, not long after someone else traded at the ridiculously high AXS price
You can see my attempt to correct the liquidity worked for a small period of time, but it was back up again, it only took about a day.
So I wonder if I try to correct it again, how long it may last?
Other thoughts
Given this is the first time I have posted for a while, I just wanted to say the LEO UI seems pretty good, and clearly there has been investment in it, and looking forward to learning about project blank and threads.