HBD: The Future of Hive
HBD - Hive-Backed Dollars - have completely changed a lot of perspectives about the Hive ecosystem. I regularly talk to a lot of different types of Hive users, investors and curious whale outsiders who look at the Hive ecosystem.
Hive is rather complex but also simple. To any of us who have been here for any length of time, Hive is a living organism. We spend so much time on this blockchain that we begin to understand it as a living, breathing organism that is always in a state of evolution.
For outsiders, it looks like a super complex ecosystem with so many different game theory mechanics, it could make a grandmaster chess player's head explode.
In my opinion, HBD has radically changed the financial value proposition on Hive. I think HBD has the potential to moon the HIVE price. $100 HIVE doesn't seem too far off in a world where HBD begins to gain stablecoin-level adoption in the broader markets.
Look at what happened to LUNA and UST. They exploded in popularity thanks to the 20% Anchor interest rate on UST savings. This led to massive scale development on the Terra ecosystem and devs & teams flocked to the ecosystem to build.
Obviously, we know the final chapter of LUNA & UST. The whole damn thing imploded because the system was built on unsolid ground. The foundation was easy to death spiral and a few bad actors managed to hit the lead domino's. One question remains: is that possible on HBD?
In many opinions, the answer is no. HBD has a lot of mechanics behind it that UST & LUNA do not. It's foundational that HBD has things like the Debt Ceiling, Haircut Rule, etc. that keep it from death spiraling.
But our topic today is the prosperous future that HBD can bring.
1M HBD in Savings
One user has been making waves on the Hive blockchain, his name is @lazy-panda. This lazy panda is sitting back and collecting a $16k per month check from the Hive blockchain for having 1M HBD in savings.
This is really awesome to see. He is by far and away becoming the largest HBD whale out there. Rivaled only by the DHF itself.
What this means for Hive is profound. $1M is absolutely nothing in the broader crypto ecosystem and even less than nothing in TradFi - where having anything under $1 Billion in AUM wouldn't even get you a seat at the table.
One thing I love about this is proving that HBD is becoming more trustworthy. HBD has been around for a while but the 20% interest rate has not.
I believe that making this change and putting in the 20% interest rate is one of the best things that Hive witnesses have ever done. It's an absolute game changer for adoption.
We've now opened Hive up to being adopted by financial whales who care only about money... and that's a good thing.
You need to have "VCs"... you need "hedge funds"... You need "whales". Whale adoption is key to a healthy economy. They create liquidity. They have whale friends. Yada yada yada.
HBD: The Future of Hive
We all love Hive for the dApps and technology that it brings but whales will love Hive for the 20% interest rate they can earn on stablecoin savings (HBD).
While there are many narratives driving future growth of the Hive ecosystem, I believe HBD is becoming a core pillar in what will push HIVE's growth as a currency, ecosystem and financial "supercenter" - as @taskmaster4450le loves to call it.
About LeoFinance
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 & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
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You are right HBD is is becoming a safe heaven tokens for Hive making hive ecosystem stronger. We anticipate good ground this year for HBD so that everyone can be supported.My pleasure ,🤗!
HBD is a literal game changer for so many reasons. Love to see people putting their money where their mouth is with HBD savings.
I have to agree. I believe the $HBD is headed in the correct direction. If it is kept strong on the base level it will definitely help propel Hive ecosystem as whole forward.
Wao, this is a good one, hbd will is now a life saver one can depend on.
Lightning Labs are spending $70m to somehow move "stable" coins onto Lightning and send them via Lightning. I have no idea why anyone wants that. And since they started work half their stable coins have disappeared or come under attack from the SEC.
Meanwhile I can swap Lightning to HBD and back already and moving HBD around is far easier than Lightning!
Interesting
Actually, $10B AUM is lower middle market.
So $1B is a family shop.
Blackrock has, what, $7 trillion AUM. So yeah, a billion in HBD is not really that much, especially if it is tied to derivatives and other asset formations.
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No Hive is the future of HBD
HBD brought stability to all the businesses on Hive smart enough to tap into this opportunity.
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https://twitter.com/1331330355513745413/status/1632538259199782914
https://twitter.com/1415155663131402240/status/1632708950113259520
https://twitter.com/1456718443789447170/status/1632725524781907969
The rewards earned on this comment will go directly to the people( @taskmaster4450le, @rzc24-nftbbg, @allentaylor ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Seen from this point of view, then it is foreseeable that new whales will begin to come to the Hive ecosystem to invest, because that 20% profit is extremely attractive for them. Given what has been seen, then it is only a matter of time for HBD to gain greater importance worldwide. Good for HBD and for us.
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Some great points, but it's dangerous comparing it to LUNA/UST. I do think expanding the reach of HBD to whales outside of Hive would open up the Hive blockchain to new uses. I think the blockchain could benefit from a bank that lends Hive and HBD at affordable interest rates. It could spur innovation and development on the blockchain. At one time, @neoxian had the Bank of Neoxian, but I think he quit lending. It's good to see people benefiting from the 20 percent interest-bearing savings account.
I believe it is still working. We also opened a similar service with @ruta.loans although smaller.
What's still working? The Bank of Neoxian?
Totally agree, the 20% is impressive, it catches everyone's attention, the more people know about the interest in HBD, surely they will want to take it, having this whale that has deposited 1 million, generates confidence and attracts others who wish to obtain these huge returns.
HBD is incredible.
Love this. The 20% APR is one thing that led me to decide to ultimately swap out BTC into $HBD and put it into Hive Savings. No fiat bank can come close to touching it, and no other cryptocurrency ecosystem has the same level of community engagement as Hive and LeoFinance do!
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Its sad I only saw this opportunity later, but eversince I have considered it a great way to put your money well saved and working fine. I had a post up on how banks have totally failed people in Nigeria and they may have to pack up soon and allow fintechs have the show, even with the crypto ban, fintech are actually rising string with some offering upto 18 apr, But that still doesnt compare to a decentralize process we have here on hive. I m grateful for this and I wish more people knew this.
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