#tribes

Strategical questions

Strategical questions.jpg

With our liotes project, we try to give as much value as possible to the community. That's why we run the diesel pool LEN:LENM and we provide rewards in LEN, CTPSB and SWAP.BTC. We have always believed that having quality rewards in the diesel pool not only provides a nice return for liquidity providers but also offers a diversification into quality tokens.

However last May, there was a hack that stole swap.eth, swap.bnb and swap.sol from the accounts of hive-engine and basically destroyed the pairing of these tokens with the base tokens on their natives chains. Unfortunately, there were no efforts made by the hive-engine team to try to restore the pairing.

LEN and CTPSB tokens are both run by the Liotes project. But with swap.btc, we thought that we had a solution that was external and provided security beyond the hive ecosystem. Now we are not so sure anymore.

The question we ask ourselves is now, how safe is it to hold swap.btc? When we collect swap.btc and put it as rewards for liquidity providers, it's paramount that we can trust this token. What do you think? Do you see any alternatives ? We would be glad to hear your feed-back.

The numbers of this week

This week, we managed again to burn 60% of the new supply of LEN tokens. The APR in the diesel pool decreased a bit, mainly because there was a new big position added as liquidity.

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The liotes ranking

We have updated the liotes ranking and this will be the ranking that will determine the rewards of September that will be paid out in the coming days. You can see the present ranks here.

Liotes Divider Blue.png

Liotes

A project run by @ph1102 and @achim03

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Comments · 13

@keithtaylor(60)· 2h
I think that there is a different problem with swap.btc (and other high value tokens) in liquidity pool rewards. Because the daily amount earned is too small to be paid. So the APR based on actual daily returns paid (as measured by Tribaldex.com) is much less than the total pool APR.

I don't know if there is any mechanism in the pools for accumulating the miniscule amount due, but even if there is, it's very confusing.

Please note that this doesn't stop me from adding to the pool. But it is a minor concern.

!BBH
@edgerik(70)· 1d
I understand your concerns regarding the security of SWAP.BTC, especially after the incident you mention. It is crucial that any token used as a reward has a solid and reliable backing. A possible alternative could be to explore other tokens that have a more robust security history. You might also consider diversifying rewards further to mitigate risks.

!ALIVE !BBH !PIZZA
@pizzabot(60)· 1d
PIZZA!

$PIZZA slices delivered: @edgerik_(1/15) tipped @liotes imfarhad tipped liotes

_{Join us in Discord!}
@imfarhad(74)· 1d
The only alternate i think is swap.hive or swap.hbd. But, i think the swap.btc can continue as rewards in the len:lenm pool. As its difficult to predict whether future hacks will happen. Also any chain or token could be targeted.

!BBH !ALIVE !HEARTBEAT !PIZZA

!HBIT
@luchyl(74)· 1d
Would have loved to give a suggestion, but don't really have any. However, I trust in the team would know which best to go for.
@jfang003(78)· 1d
I trust whatever you guys come out with, but I think BTC has been a decent store of value. It is hard to trust that it won't get hacked though.
@ijat(60)· 2d
Generally as safe as anything out there. Diversify is my motto.
@stresskiller(73)· 2d
it's safe , until it's not ... same with all digital things it's safe until one hacker finds away arround the safety net .
@ladymisa(64)· 2d
I'll leave the strategy to you guys. You seem to be doing a good job so far. :)
@dewabrata(77)· 2d
we share the same worry lol... I hold HIVE, and some shit hive engine tokens. nothing else, no swap swap swap things lol !BBH !ALIVE !PIXY
@blitzzzz(77)· 2d
From a value standpoint, I'd much rather go for swap.BTC than HIVE or other random L2 tokens. Having witnessed almost all other tokens drop >90% in value, I'm not too sure if you'd call the potential risk of loss in swap.btc any different at all.
@relf87(76)· 2d
Hmm I don't have any strong views - I trust the team will do what's best for the project. :)
@liotes.one(59)· 2d
At the moment there are 134 LEN tokens in the prize pot for the Liotes Power Challenge 2026.