Hello SPIers, today we ask the question why do we value Hive-engine tokens wrong?
What do I mean wrong? I mean why do we talk about the value of hive-engine tokens as HIVE instead of dollars? You might be thinking, thats a stupid thing to think, we're on HIVE and we trade HIVE for tokens like SPI or EDS. Of course, they should be valued as HIVE.
But why?
I've been running token projects for just over 5 years and I could count on 1 hand how many times someone has asked me the dollar value of a token. I've always thought of that as strange because when I check my HE token bag, I always look at the dollar price, I dont care how many HIVE they are worth to be honest because I value my crypto portfolio in dollars (and yes I live in the UK, lol). If we look at ETH's ecosystem, have you never heard anyone talk about the ETH price of ChainLink, PEPE or Tether? No! why? because they are priced in dollars like they should be. When you use the DEX (Uniswap) to buy them you need ETH to pay gas fees. It's the same on HIVE, we use a DEX (Tribaldex or Beeswap) and we use RCs we get from powering up HIVE to pay the gas fees. Beeswap offers token swaps without the need for wrapped HIVE at all.
I understand TribalDex is not a true second-layer and hive-engine tokens can only exist on HIVE. We dont have an SMT that can be traded outside of HIVE, on exchanges and AMAs in the same way an ERC-20 token can so hive-engine tokens in that sense are very limited. By the way, thank the crypto gods for hive-engine. It's been the only real innovation for the past 6 years. Lots of people talk, talk talk but hive-engine is an actual working product that is currently the glue holding HIVEs eco-system together.
The guys at hive-engine price everything in dollars, here's a snap from their listing page. No HIVE mentioned at all, all dollars.
The only token I can think of that I see people talk about in dollar value more than HIVE value is LEO. Maybe because they have had wrap versions that were being traded in dollar values on BSC, ETH and MATIC. Maybe they talk about LEO in dollar value in their AMAs and reports and it's rubbed off on token holders. I dont no Khal very well but I could guess he thinks of LEO token value in dollars and not HIVE. Maybe operators think in dollars and investors think in HIVE. Either way, number go up is good 🚀
What do you think?
Do you like it the way it is are you would prefer to see everything as a dollar value? Maybe this whole post is a moot point because I've been wondering for a few years now why people only care about the HIVE price. Even people who have used the SPI buyback deal, never ask for the dollar value, even when they are planning to cash out to fiat, they always ask for the HIVE price. 🤔
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| DAB | @dailydab | DAB |
| DBOND | @dailydab | DBOND |
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