Week 34 : Switching Focus To Diesel Pools | 2022 SATURDAY SAVERS CLUB

In this Week 34 of our Saturday Savers Club, I decided to research Diesel Pools after reading an article by @gadrian. Not wanting to venture off Hive completely to other platforms for liquidity, I understood from his article that Hive-Engine hosts exactly what I've been wanting to explore.

Since Leo Finance's development of its library, called LeoGlossary, I've found it useful when researching new savings and investment strategies. I visited the Glossary to learn more about the terms used.

Diesel Pools

First: I discovered that a Diesel Pool is the pairing of two tokens that you can exchange (or swap) between each. The premise is that the pairing will provide liquidity. I think of it as farms and kingdoms.

Second: Two tokens you choose are initially paired at a 50:50 ratio. Perhaps this means you want the same number of token or equivalent value. Once you add your two tokens, the balance is stabilized by an Automated Market Maker. This is known as an AMM. Need to research this term further.

Third: Can't forget about fees to set up you liquidity pool. It's 0.25%. This fee is paid to the liquidity providers.

I also learned that since Hive-Engine provides diesel pools I can invest in, it'll be easier for me to choose the tokens I hold on Hive to add to the pool. Hive-Engine provides the services through Tribaldex and Beeswap. I'm not familiar with either services.

I chose Tribaldex to set up my diesel pool. I logged on and took a look at tools available. In the pull-down menu for the pools, I saw several token pairings that were interesting and contained the tokens I now hold.

However, the key is deciding which diesel pool I want to invest in. That's where I'm starting now researching, trying to determine which pool will yield the best rewards and APR.

Once I lock in my diesel, then I'll return to and add the tokens to the pool.

I hope you follow my journey in setting up my first Diesel Pool.

Week 34 Activity

HBD Savings. Returning to WEEK 1, I'm now moving at a steady pace in Week 7. I transferred 2.80 HBD** to my savings. I'm investing at a slower rate through end of 3rd quarter. Therefore, my total HBD Savings to date is: 304.376. My goal is 667.95 HBD.

EDSMM (EDS mini miners). No mini miners purchased this week. Reminder, you can purchase directly from @eddie-earner's account, thereby avoiding transaction fees. For more information, visit Invest directly from your HIVE wallet.

CubLife Buy-In Looking forward to receiving my monthly rewards from participating in this venture. I utilized automated services to transfer weekly 5 Hive to @cublife. Just transferred my final liquid Hive today, August 20, which is the deadline. August 21st is the date the buy-in takes place.

PROJECT	Previous Bal.	Activity	New Bal.	GOAL	Comments
Saturday-Savers Club 8/20/22)	301.575 HBD	+2.80 HBD	304.376 HBD	667.95 HBD	Reset savings at Week 1. Currently on Week 7
Hive Power	13,062.856	+24.493 HP	13,082.349 HP	15,000 HP
Leo @leofinance	689.802	+205.254	895.056	1,000 Leo	Participated in LPUD day 8/15. Over 3/4 way to completing my yearly goal.
CubLife @lbi-token	730.901	+2.848	733.749	1,000 CL	Steady progress toward my goal.
EDS-@eddie-earner	159.92	+2.43	162.35		Realizing increased income token rewards from new mini miners. For details, see: EDS income token weekly report - 32
EDSMM-@eddie-earner	135.00	+0.00	135.00	1,000 EDSMM	No additional purchases this week.

You can join the Club and start saving at any time of the year. I, along with other members, meet over on @eddie-earner's account every Saturday and sometimes on Sunday. To see all Club members goals and objectives for 2022, visit the official Club post each week. Here's the most current post: Saturday Savers Club with @susie-saver | Week 34 - Saturday 20 August 2022 | EDSMM Giveaway | Win EDS for Comments - everyone welcome.

@shanibeer is our host and super saver with her @susie-saver account. She keeps the Club running smoothly and shares excellent ideas to get and stay involved with savings.

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PLEASE NOTE:
As I have reiterated, I'm not a financial adviser. My post is not meant to be financial advice. My articles on cryptocurrency, investing, and saving are meant to share my personal opinion, experiences, and general information about those items once I discover interesting facts and figures. Please perform your own research before investing in any project that you feel comfortable with. In all cases, only spend and invest in project where you have the available resources.

Why not join in this fun initiative and start saving whatever amount you can. To get started, why not take a look at the 2022 Savings Plans for the Club on @eddie-earner's account here: Saturday Savers Club with @susie-saver | 2022 Launch and FAQs | Everyone Welcome | EDS for Comments.

There is also a daily savings chart for 365 days. Check out the weekly Saturday Savers Club post on @eddie-earner's account for more details here.

Tell me what's your savings plan. I'd like to hear about different ideas. See you next week.