Killing The Stablecoin Buzz Was Successful - But Only Gave HBD Time To Expand Its Utility.


Killing The Stablecoin Buzz Was Successful - But Only Gave HBD Time To Expand Its Utility.

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Many have talked about how it is somewhat a good thing having hive to be under the radar of things while it develops stronger.

This tends to have its own benefits and disadvantages, but overall a spot-on meritable factor for the ecosystem system.

The Luna Crash Killed Stablecoins - partially

I came to the realization that the stablecoin markets have received less attention recently and we can see how this caused top runners to bend the system to aid in the adoption of its own.

Binance delisted all stablecoins except USDT, and its own BUSD. But prior to this, the famous UST lost its peg and killed the Luna ecosystem as an effect of the flaws of its algorithm.

USDD was created right after with similar rules to UST, and just as a copycat business would be, it hasn't gained any sort of out of the box attention.

This was because nothing exactly set it apart from how UST worked and people most definitely weren't gonna jump into another stablecoin game when literally billions of dollars was lost on the last.

HBD - Building Real Utilities For A Real Currency

Prior to the Luna-UST crash, HBD had little utility structures that could actually incentivize users to hold the currency.

Although there was the ability to actually spend one's HBDs on real world products via the @hivelist store, and even the fact that as a Hive currency, it's part of the payment system of the great @Splinterlands game, funny enough, all these weren't present in UST or any other stablecoin out there.

Moving forward, after that crash of Luna-UST, HBD embraced incentivizing structures starting with the witness consensus to increase the APR for saving HBD to 20%.

This made it the only decentralized stablecoin with a great algorithm for sustainability in the market.

Added to this, the need for more HBD liquidity arised and then, Leofinance stepped in by first deployed pHBD, a wrapped version of HBD on the polygon network and now, bHBD on binance smart chain, expanding the liquidity thus market of HBD, typically taking it cross-chain.

What's More? - Ragnarok!

Ragnarok is a blockchain game based on the hive blockchain, although still in development, Ragnarok positions itself to be a great source of influence for the HBD market. The game will add a new structure of incentives for HBD holders. Typically, in-game assets will be paid in HBD, giving the currency an increased market value.

All HBD earned through this will be locked in a SIP, where the interest earned will be redistributed to the players, awesome right?

This is to name a few utility structures that sets HBD aside from other stablecoins, and considering that it's based on an algorithm that helps maintain the peg and at the same time powered by hive, making it a decentralized stablecoin, there's lots of room to grow and that's just what it means for the dead-buzz on stablecoins.

Stablecoins are a big part of the cryptocurrency ecosystem and Hive with HBD will be a great example to that. There's so much that can be integrated with hive, thus HBD can be adopted as a medium of trade, it is only a matter of time and the constant developments.

Posted Using LeoFinance Beta


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