Hi All,
remember that ERC-20 Token KOIN created by some former Steem devs that flooded the news some days ago with the promise to mine on CPUs but then a GPU mining protocol was found and since then both the price and the amount of posts went down?
There is still a low-volume Uniswap pair available so you can still trade KOIN against ETH.
https://info.uniswap.org/pair/0x3E9B04C0A11FC801335b0c436a3AE3Dea0dc2188
Recently introduced WKOIN, a wrapped KOIN which is tradable on Hive-Engine. Additionally he created a tool to wrap (KOIN to WKOIN) and unwrap (WKOIN to KOIN). In other words, it allows you to move KOIN from your Metamask account as WKOIN directly to your HE-wallet. Read all about it in
´s original post.
Here is the tool:
https://app.wkoin.buzz/
With that you can trade now KOIN not only against ETH, but also - as WKOIN - against Swap.Hive!
And it works! I have tried it out and wrapped some leftover KOIN from my failed KOIN LP experiment to WKOIN and sold them on Leodex
https://leodex.io/market/WKOIN
The limitation is that the market for WKOIN on Leodex is still small - very small. In fact so far I am the only one who is having reasonable (?) sell orders out there. But there are a few buyers at levels of 0,2 Swap.Hive. By the way, what is a reasonable price for KOIN?
The KOIN token on Uniswap is fluctuating quite a lot, probably due to the low volume of the liquidity pool. Currently you can buy 10000 KOIN for 0,362 ETH (around 136$). That should result, with the Hive at 0,115$ (OMG!), in a theoretical price of 0,12 WKOIN per Hive. But don´t forget the gas fees and the wrapping fee of 1%, and some other influencers like Hive dropping like a stone, so that next week this calculation might look quite different.
The earned Hive from the WKOIN selling you can change to LEO and then change back to ETH (from the Leofinance LEO wallet, called "Claim LEO Token Rewards") and so the circle closes.
ETH -> KOIN -> WKOIN -> SWAP.HIVE -> LEO -> ETH, repeat
Or you just accumulate WKOIN, as nobody can tell how much they will be worth after the Koinos mainnet airdrop and some exchange lsitings, less than 2 cent seams a steal to me! By the way, promised that any WKOINS not changed back to KOIN in time, will be as well considered for the airdrop. Nice!
Mining WKOIN
Mining with your CPU isn´t effective anymore, according to what most people wrote about it, e.g. here a recent post by .
But is there a smarter way to mine? Maybe! Since a few days there is the option to delegate some staked Hive to and for the next 6 months every 15 min. app. 0,53 WKOIN are distributed to the Delegators (by random selection of one, according to the %age of stake delegated). More details here.
Is it worth the opportunity costs? So far I "mined" with my 500 HP delegation 11 WKOIN within 3 days, but it is impossible to extrapolate from this, because initially I had a 20% chance to mine (my delegation was at that time 20% of the total delegation) and now it decreased to app. 5%, as more people found out about it (look up the current situation here, app. 10K already delegated). So actually I am stupid in writing about it, because the more people join the party, the smaller the share gets. So best if you forget about it immediately, for sure it is not worth it! Probably nobody is reading until here anyway :)
In summary, did an awesome job in enriching the KOIN ecosystem and connecting it to the Hive ecosystem! A classical win-win thing, isn´t it?
Please note that the wrapping tool is not decentralized (but so is the Hive-Engine anyway), so do your own research and at your own risk, like any financial transactions.