Hive Stable Coin Model And It’s Staking Opportunity
Hive backed dollar as we often refer to has HBD is a stable coin in the hive ecosystem that is paired to the United States Dollar USD. Looking at the success of hive seems it soley depends on the stable coin model, which in a Leofinance AMA session this was looked critically into;
During this session it was revealed that a new whale just onboarded the ecosystem with the account accumulating at arrival over $600k worth of HBD, from recent stats it seems the figure has risen to about a million worth of this stable coin and it’s all staked.
Is it a bad move to leave just one person with that lot’s accumulated? Well an honest question from me is yes, because he will solely have a catalyst in the determinant of the market price of Hive( liquid). The worst case scenario has stated that can happen if he dumps is that the price of HBD goes back to 1$.
The total market capitalization for HBD is ten million dollars($10,000,000) and someone is close to having a quarter stake at of the total, won’t that be influential to HBD price?
If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link
Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in h growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Twitter:Hironakamura
Posted Using LeoFinance Beta