With the Hive-Pump I've now got too much Swap.Hive on Hive-Engine and want to get some of it back out, but it's a struggle!
Hive-Engine may well work (most of the time) but the more funds you pile in there the more you realise that it's SERIOUSLY limited.
The 1% withdrawal fee on Hive-Engine is really too high, especially when you're moving larger amounts around, and with the current Hive Price, moving anything over 1000 Hive starts to make ETH fees look competitive.
I REALLY don't want to have to pay $15 to move 1000 Hive out of Hive-Engine, which would be the case with Hive floating around $1.150, I would only do so in an emergency.
My other options are LeoDex and BeeSwap, which both have a 0.25% fee for Hive withdrawals, but I frequently find there is no liquidity in either of these....
So I've hit on the following TWO possibilities for jiggling funds about and getting my HIVE out.....
The hive-stables/ stables-hive option
This depends on having stable coins elsewhere (which I have).... it basically involves moving my stables staking to Hive-Engine from Binance or Polygon.
- Swap Hive for SWAP.BUSD/ SWAP.HBD. (I'll be pooling this on BeeSwap soon)
- Simply unstake/ unpool an equivalent amount of stables from whatever other platform and buy back as much Hive as I swapped in number one above.
I've actually got a fair bit of HBD saved, so this is a help here for starters!
This is for very minimal fees!
Of course the downside isn't lost on me - you're not REALLY moving anything out of Hive-Engine, you're just sort of swapping - but then again if Hive goes up, that's out, so you sort of are, in dollar terms.
The DEC Route....
My second option is what I call the DEC route...
- Swap Hive for DEC
- Move DEC to Splinterlands and from there to BSC
- Trade DEC for BUSD
- BUSD back to Binance and buy back the Hive there.
- Then Hive back to Hive to POWER UP, or list for sale if you so desire!
This is a very low-fee (< $1 all in) route but you roll the dice on the exchange rates you get, but at least with the massive liquidity on BSC you are unlikely to suffer from slippage issues even when moving around $1000.
Aggro over Convenience....
Of course you have the choice of paying 1% to withdraw yer swap.hive but personally I think this is too steep a price to pay for convenience, when there are other options available.
Both are a bit more hassle, but they both work!