Over the past couple of days the development team behind the Enumivo project have been hard at work trying to improve liquidity for their ENU token. As a means of providing said liquidity to their token they have released a number of market maker contracts for different currencies. These contracts allow holders to trade their ENU tokens directly for Bitcoin, Philippine pesos, LTS (the native currency on the old LTS exchange) and Chinese yuan.
What is a market maker contract?
As briefly mentioned, the market maker contracts allow users to trade their ENU directly for other currencies, both crypto and fiat. They are smart contracts which are maintained by members of the Enumivo community, and work by utilising the memo data field in the send protocol of the EOSIO software.
How do they work?
In order to benefit from the new market maker contracts you do not have to do all that much. In order to, for example, trade your ENU for BTC you simply need to send some main net ENU tokens to the enusatmarket contract with your BTC address listed in the memo field. Once you have done so you will see an amount of Bitcoin which relates to the trade price on the following link: https://wallet.enumivo.com/market-maker, arrive in your wallet.
As mentioned, these contracts will only allow users to conduct market trades which means you will only be able to sell your ENU for the price of the highest buy order in the currency you wish to sell it for, vice verse.
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything. If you would like to assess the metrics which determined the rating for this project you can do so here. We would also like to remind you that Something Decent is not in anyway responsible for the distribution of airdrops, bounties or giveaways unless it is stated that we are personally conducting them