Token Price Differences
Community member Darren asked,
What is @GroveToken's current price? .260ish, or .220ish? I’m seeing one value on Poocoin and one of SFM Wallet. Thanks in advance.
"The SafeMoon Wallet shows the current price in the SafeMoon SWaP (SMS). Poocoin will show the price for Pancake Swap (PCS) by default. If any other DEXes/pairs are tracked they will appear in the dropdown, and you can select them. Different DEX, different LP, different price. All are correct.
If Poocoin is showing GVR at 2600 for PCS then you can buy/sell at that price on PCS. If the wallet shows GVR at 2500 then you can buy/sell on SMS for that price. They are quite literally different LP tokens, different router contracts, and different traders.
When a DEX adds a token for trading, it will add X amount of a token and X amount of the pairing token that gives it its ratio/value (usually BNB on the Binance Smart Chain). That "liquidity pairing" is turned into LP tokens that are unique to that DEX and can only be traded on that DEX. When people sell, they take BNB out of the pairing which lowers the ratio of BNB to token X and lowers the price. If they buy, it increases the ratio of BNB to token X and raised the price. But this ratio is only for that LP pairing/token on that DEX only. It will have no bearing on the ratio of BNB to token X that was created on another DEX in a completely separate liquidity pool and LP token.
Even though token X is still token X in both, and you can buy in both, they will and can have different ratios of token X to BNB (or whichever token it's paired to). You can still take token X out of either pool, and it is the same token and you can then trade it in the other pool if you wish, but they are unique markets. You will often see prices stabilize due to arbitrage bots or people taking advantage of price differences from one pool to another."
"I have heard of this but never truly understood the inner workings of it until now. I didn’t realize the difference could be so vast."
"It can, particularly when one DEX has a much lower amount of liquidity. PCS for GVR has $3.9 million while SMS has only $210K - a large sell on PCS (someone taking 20-30 BNB from the pool) will not affect the ratio hardly at all. On SMS, that would cause a large price impact. There are 7,589 BNB available for traders to cash in for GVR on PCS as opposed to 420 BNB on SMS at the time of this writing. The amount of liquidity seeded initially is done by the token project teams - they decide how much LP they will add in which DEX."
SafeMoon Gaming Discord
SafeMoon moderator and SafeMoon Sanctuary host GlennHasABeard Tweeted,
"Just made a small, but needed change to the data collection on SafemoonGlubiz.com 👀
Until now I've been using Nomics for the price, but as they use an average between all listed exchanges, the price are not that accurate.
Because of this I now calculate the price myself🔥
SafeMoon Facebook moderator Josh shared,
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Innovation is not always liked.
Keep grinding #Safemoon
* shared from a friend's page!"
It's so important to remember to report and block "official support" accounts, as they are there to take advantage of the communities we love. This fake Grove Token account, for example, already has over 2k followers!! Let's do our part in getting rid of these!
To report and block this account, please click the Twitter icon below!🙏
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Hash Panda - Enhance - Affinity - Grove"
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Dollar-Cost Averaging (DCA) Explained
Check out Binance Academy's article explaining dollar-cost averaging! They explain,"active trading can be stressful, time-consuming, and still yield poor results. However, there are other options out there. Like many investors, you might be looking for an investment strategy that is less demanding and time-consuming. Or just a more passive investment style. You have many choices in the Binance ecosystem, including staking, lending your assets in Binance Savings, joining the Binance mining pool, and more.
But what if you want to invest in the markets but don’t really know how to start? More specifically, what would be the optimal way to build a longer-term position? In this article, we’ll discuss an investing strategy known as DCA, or dollar-cost averaging, which provides an easy way to mitigate some of the risks of entering a position."
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