Hive is currently ranked 4th on Binance perpetual market with close to $2 billion USD in daily volume.
Thats only around 25% of Hive total perpetuals daily volume.
Binance also paying 77% APR on Binance EARN atm.
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3rd party risk is off the charts right now.
When you give your crypto to an exchange it's an interest free loan, same as a bank.
They get your money and you get an iou.
Nyk,nyc.
They need the Hive. Thats the point. You cant even short on margin, it gives an error. Nothing to lend. Only shorts coming in are on perpetuals and those pay 2% every 4 hours to longs.
And shorts are rekt badly. Its good for the price.
Binance is satan.I hope @vsc.network is working on this.
Overreliance on CEXes VSC will fix, but at this point if we can generate demand on any platform thats a positive. VSC is a safety net that will keep us independent.
Anyone trusting 77% APR is a dummy. We seen this show b4 🙃
Its flexible based on demand for the token. It was 30% few days ago. Now with 2 billion in volume they need the Hive. YOu cant even short on margin. wont let you. Nothing to lend.
I wouldn’t trust anything offering that APR. just personal preference.
Its a matter of trusting a CEX. Thats it. The APR is simply due to massive increase in demand and non existent supply. I do not recall Hive ever doing more than 10 billion in volume over futures and spot that its doing now.
No It’s a matter of trusting third party’s.
Thats what a CEX is.
The comment above said it’s on Binance. That ain’t without third party risk.
This is just the beginning.