Update 1: the more I think about it the more I don’t see a real benefit of splitting the funds on mainnet between Sushi and Uni. My initial intention was risk mitigation but I think it’s too much effort for too less benefit. I also did some basic analysis on Dune which didn’t made me too optimistic that there’s a huge crowd to win for Hopr which isn’t reachable with Uni. So right now I tend to change the distribution to 50% Uni V3, 25% Honey, 25% Pancakeswap.
The core principle of my proposal is KISS (keep it simple, stupid). Maybe for some it’ll be too conservative but transferring funds to 2 additional DEXs on 2 additional sidechains is a big enough first step in my opinion.
PS: Besides the thoughts above I’m doing some research regarding pairs, settings and bridges. Uni V3 and Honey are clear to me. Problematic is Pancakeswap. The info page seems as broken as the documentation. Anyone know some BSC on-chain analysis or solid documentation on pair configuration for example?
Hi everyone. I tried to structurize the approach and make it simpler and less chaotic. I used most popular options to create a polls. Check it out and vote: Discussion Stage: 1st Substage (Selecting DEXs and Networks)
You can also edit Google Doc (see info in the topic) and add other chain/DEX in the poll (if it meets strong criteria) - just post your request in the replies.
Thanks @t0b, regarding uniswap v3 you need to specify how the liquidity would be added to Uni v3. You need to set a fee tier, and a price range (or this can be left unlimited). More information can be found here: Uni V3 Validity requirements
Update 2 : @monadnoc@bigalex90@nquelhas@Rod7@jhettinger79@bigalex90@Lastfor. My current thinking is DAI/Hopr for Uni V3 (0.3% fees and unlimited price range), wxDAI/xHOPR for Honey. The simplest for Pancake would be also DAI/Hopr and connecting everything with the OmniBridge but I still have doubts about Pancakeswap. I don’t see any DAI-Pairs there. You have some thoughts?
hy @t0b I do like this approach thanks for refining it.
My only question is around pancake DAI pairs, since I am not very familiar with it or iwth omnibridge. I did find a DAI-wBNB pair however
Is it omnibridge being used and scalable? any transacations fees for this bridge that will probably hurt the global usage and awareness from pancake?
Yes, BNB and BUSD are more common there for obvious reasons. But I still find it hard to gather solid data regarding BSC and pancake. Pancakeswap Info is totally out of sync and information on 3rd party sides sometimes inconsistent. I’m still looking into it. I’ll keep your ETH idea in mind. Thanks. KISS would be just keeping DAI everywhere. But of course having a pair with another (stable)coin is also some sort of risk mitigation.
Sure, thanks. I see this thread more as my “open source” opinion making. Maybe it’ll result in a proposal which already exists but then I can vote it with confidence ;) I appreciate all your input.
Regarding OmniBridge (OmniBridge). I used it several times between mainnet and xDai. Worked flawless and there are already good guides by the Hopr team for example. Fees on mainnet are of course painful but close to non existent on xDai. So if you for example bridge from xDai to mainnet you need xDai to initiate the bridging and ETH to claim on the other side. The cool thing is that OmniBridge also supports BSC. So my current understanding is that you can use OmniBridge for all DEXs in this proposal.
Once the farming ended and cover traffic has been launched I expect the smartest thing to to with your Hopr tokens is to use them for what they are intented - to use them in a Hopr node and to make the Hopr network grow (which will still be the best marketing in the long run imho). So one criteria for my DEX selection was that there need to be an easy, affordable way to get tokens bought on a DEX to xDai where the network is currently running. So if I’m not mistaken you could buy Hopr tokens on Pancake and then bridge them to xDai via the OmniBridge. You would need some BNB to initiate the bridging and some xDai to claim but you would avoid high mainnet fees. Anyone agrees or disagrees?
Yes, BUSD is widely used on Pancakeswap for obvious reasons. I’m thinking about DAI, BUSD or BNB. BUSD and BNB require an additional step because some of the DAI currently locked in UNI V2 have to be swapped to BUSD or BNB first.
Yeah, sure. Fees aren’t avoidable. Even if the proposal will be marked as valid without describing the exact swaps and routes I still want to have at least an understanding how my proposal can be implemented and don’t want it to be overly complicated. I doubt using a CEX would be an option.
The idea of bridging is really great until users get hit with the realization that everything they do will have a fee involved. As consumers we generally detest owning something then paying to move it somewhere else two more times.
It is also overly complicated that hopr ER777 token must be converted to ER677 to be transmuted into another ER777 token based on the pictorial.
@SCBuergel or someone knowledgeable on the subject, is there a better way to move Eth HOPR into wxHOPR using one movement execution?