In the Crypto market, we can see more demand for stable points because of various reasons. We see people accumulating more stablecoins because there are certain protocols where a good APR can be generated just by holding these stable points. This is also helpful when we want to increase the crypto holding by grabbing the opportunity when the price is high. I mean to say we can sell off the crypto in a stable coin pair and buy back when the price is low. In this scenario, stablecoins are very helpful because these coins are backed by dollar value and we expect that the value will not fluctuate much.
There are multiple stablecoins but some of them are quite popular because of their higher market cap. USDT stablecoin is on top and it is managed by Tether. USDC is the next one which is also a coin that is on demand and this stable point is managed by a company called Circle. These stablecoins are available on different networks which is good for us because we can make the transaction at a lower transaction fee. For example, if a transaction is initiated on BSC then the transaction fee is going to be 2 less as compared to the ERC-20 network which is built on Ethereum. Tron is also one of the networks where many stable coins are available including usdt and usdc etc.
Circle to stop minting USDC on Tron
Circle has announced that they are going to stop the minting of USDC coins on the TRON network. They have made the official announcement however they have not shared the region behind it and people are guessing the region which could be some unfair practices followed by the Tron founder and because of that people are not relying more on Tron.
As per the company, they will not mint any new USDC on the Tron blockchain however they will continue to provide support for the next year so that people do not face any problems. This way they are also trying to make this transition smooth and hassle-free for the community which I think is a good move by the company and in between people would have enough time to take the required action. There is no impact on the current holding for USDC on the Tron network however they are recommending the people move out of their usdc from Tron to another network. Tron is one of the chains where transaction fees are very low and probably because of this reason, many projects have chosen this chain including some stablecoins.
There has been no update from the Tron network officially about it and they did not mention anything about this transition that is going to happen for usdc. Circle as a company is trying to go public and they have filed it already and it is assumed that they do not want to get in trouble in the US because of any unfair practice followed by the TRON network. The company is following the proactive approach to avoid any issue on its path to becoming a public company and this is why this action is initiated however there is no confirmation on this statement so far and this is just an assumption from the community side. If you are holding usdc on Tron Network, then you don't need to worry about it since you have enough time to make the transfer or whatever action you are planning to take since the circle is going to provide support for the entire year.
I think that now it is time for more decentralised stablecoins to be in a place where there is no company involved to manage the coin and no such issues are expected to happen. We have a few already but they are not so popular and even HBD is one of the stablecoin on the hive network but very few people outside high use this coin and that is why I think more promotion is needed to bring attention to HBD. HBD has proven its existence and it has been paying an APR of 20% continuously for many years and I don't think there is any other option to pay an APR like this consistently.
Thank you
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And exchange listing is more important.
Agree.. exchange listing is needed for HBD..
wow so this means no more usdc for tron? after one year
yes and its better to take it out if you already have it there..
but nothing changes right for eth and other chains for usdc?
yes its only for Tron and no change for other chains.
i see that's good then but i like tron cheap gas fee tho
Namaste bhai sahab, it looks to me like I'm no longer receiving any daily IU tokens for my HP delegation. What's going on? I will be removing my delegation today as a result.
Namaste bhai @julianhorack
Hope you know that Hive SQL was hacked and because of this all projects ate struggling with delegation reward. Please don't remove HP delegation as its fix is underway and should be up this week. You will be getting all the tokens in one go once HiveSQL is up. I am adding @bala41288 to pay more attention on this matter.
Please see below for update-
Once again, you will get all your tokens once HIve SQL is up and running and hope such outtage does not occur in future. Thanks for sharing your concern bhai ji
Acha. Many thanks I'm out of touch regarding latest events. I'm keep the delegation as it is.
yes mere bhai. We would never hold any of your payout at Indianunited and rest assured that this will be paid all in one go asap once its up.
Thanks for trusting us. Hope life is good bhai.
Jai ho, danyavaad. Life is improving, I just need a bit of liquid cash. Next month will be much better. And also bull market cycle is upon us so the worst is over.
Jai Sri Krishna
I agree. things are getting better and we are moving to the bull cyle.. Hope Hive price will solve all of our cash issues in this bull cycle. Stay healthy and hopeful.
Jai Sri Krishna
Jai Radhe Shyam
Thanks for reaching out Bhai. Also thanks for the reply @alokkumar121 We made an announcement a few days back on Discord. It is a little hard to do the retrospective payment without Hive SQL. Hopefully, it should be back soon and we can continue the payments. Please continue delegating and all the pending payments will also be cleared.
Jai ho Bala ji. Jaya Balarama.
Thank you for your feedback, I've been out of touch with recent developments, in meditation retreat.
May the blockchain roll ever onward.
Namaste 🙏
Yay! 🤗
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