With the recent events around FTX and the issues with CEXs, DEXs have been gaining even more popularity and more traction.
Uniswap remains to be the number one DEX and for a few days it has reached the no.2 spot in daily trading volume from all exchanges including CEXs, with only Binance in front of it. In the recent days it is around the 3rd spot, after Binance and Coinbase.
With all this having in mind it is very logical for a decentralized community to be listed on Uniswap.
We don't need to ask for anyone's permission to do it.
What is needed is the following:
- technical solution to bridge the HIVE token to Ethereum
- incentives for liquidity providers
There is already a technical solution for bridging HIVE and HBD to the BSC chain provided buy the Leofinance team and the Cubdefi application, but we can say that this is done in a centralized manner. It is ok to start of like that, but if we want a serious liquidity there should be a trustless way to bridge HIVE to Ethereum. One of the way is a multisig account and there is some work being done around that now.
From the incentives perspective, in theory there are incentives from the swap fees, but this can be small and to boost things usually some additional incentives are provided. Again Cubdefi is experimenting with their token, charging a fee for the bridging and then making buybacks for the reward token.
Fees are usually one of the ways to provide incentives, we can implement this for the bridge and maybe even have a proposal from the DHF for the liquidity providers.
At the end the following chart for HIVE on CEXs.
Upbit is now dominant holder on HIVE and is a sort of risk for the ecosystem. Having a DEXs will remove some of the this.