Greetings Hivians! It's been a while since my last update—since September in fact, when I announced the creation of multiple new trade pools. Despite enduring the longest crypto bear market in history, we continue marching forward in our quest to build a blockchain gaming economy on Hive... and beyond!
Crypto Shots, the first browser-based blockchain FPS, was initially built on the WAX blockchain. Their game is blockchain agnostic, though, and it wasn't long before they got it working on the Hive blockchain, as well. This was a perfect fit given their membership in the Blockchain Gaming Accelerator, which supports other Hive games such as HashKings and Rising Star.
Unfortunately, many of the Crypto Shots features available to players on the WAX blockchain do not yet work on Hive. However, updates are coming fast, and blockchaingaming.com is doing its best to help. Currently foremost among those efforts is our new trade pool for DOOM, the main Hive token for the Crypto Shots game.
DOOM can be earned from playing Crypto Shots, but it's also a utility token. Tribaldex's order books are extremely thin, so go to the pool to get yours! The pool's relative size also makes it the best authority on the price of DOOM, so be sure to keep an eye out in case prices on the order books diverge. There could be arbitrage opportunities there!
Even more interesting is the opportunity to conduct arbitrage across blockchains with with the trade pool for BOOM, Crypto Shots' token on the WAX blockchain. DOOM and BOOM are mostly analogous, except BOOM are worth twice as much: 2 DOOM may be converted to 1 BOOM (and back) using the Crypto Shots bridge. You just need to log into their website and access your wallet there.
A little more math than usual might be required. As stated before, DOOM is pegged to BOOM 2:1, so instead of arbitraging to bring their prices towards parity, arbitrage occurs when their prices diverge from that ratio. But they use different cryptocurrencies to measure prices—HIVE for DOOM and WAX for BOOM—so you need to convert to the same units for comparison.
For example, Tribaldex currently shows that DOOM is worth $0.01392, meaning 2 DOOM (1 BOOM) is worth $0.02784. Alcor shows that 1 BOOM is worth 0.16213897 WAX, which is $0.0114778 according to the WAX price found on CoinMarketCap. Therefore, the price difference between BOOM and DOOM is 2.42555X what it should be, implying that much potential profit for cross-chain traders. Exciting!