What we all saw take place over the past 24 hours with LUNA and UST was an incredible thing to witness. It appears to be a coordinated attack on the UST peg in an effort to kill the Terra ecosystem by de-pegging their algorithmic stablecoin.
Stablecoins have - without a doubt - become one of the cornerstones of crypto. Most of the big players are indexing heavily in stablecoins, even more so than Bitcoin in many cases.
For many reasons, stablecoins offer us an eye-opening opportunity. To freely, effortless and borderlessly deploy capital across many blockchains, yield opportunities and lending structures.
Most stablecoins are centralized and rely on a third-party to maintain their peg. UST quickly rose to become one of the most utilized stablecoins in the entire industry - and a decentralized, aglorithmically-secured one, at that.
I believe UST will re-peg itself and come out of this stronger than it went in. Regardless of what happens, HBD now has massive shoes to fill. HBD is one of the longest standing algo-stablecoins in the entire crypto industry... and almost nobody knows about it.
The Opportunity
The opportunity that HBD has is truly amazing. We could see HBD become one of the most utilized stablecoins - quite like UST - with just a little TLC. The on-chain savings rate being increased to 20% APR was the first move in this direction and this is what has seeded the ground for the next step.
The next evolution of the Hive blockchain has arrived. We've all called this ecosystem by many different names. One of my favorites: the blockchain of opportunity.
4 years ago, all you could do on Hive was blog and earn crypto. Today, there are dozens of highly utilized dApps that offer the ability to use DeFi, play-to-earn, move-to-earn, blog, microblog, ... There are dozens of ways to use Hive in your everyday life.
With the 20% on-chain savings rate, now everyone on Hive has a decentralized bank account that pays them 20% to save their money in it. That's powerful.
Why Stop Here?
Why stop here when we could attract billions of dollars in capital from whales that jumped into places like UST. When the Anchor opportunity came about and started offering 20% fixed interest on UST, the entire Terra ecosystem exploded - shooting LUNA to the top 10 cryptos by market cap list in a matter of months.
HBD has the potential to do this for Hive and I think all of us on here want this to happen.
The Last Remaining Piece - Liquidity
In my opinion, the final piece of the puzzle is the onramp and offramp to HBD. Right now, it is incredibly difficult to use, understand and deploy capital into HBD. I believe that all of us on Hive have been familiarized with it for years so we don't see quite how hard it is. In my process of trying to bring whales into Hive to buy a large stake in HBD and save it on-chain, they have told me their concerns about onramp liquidity and most importantly; offramp liquidity.
pHBD
pHBD went live about 3 weeks ago. We're nearing $400k in liquidity on pHBD-USDC on the Polygon network. The trading volume has exceeded our expectations: on some days, trading over $70k on just a $400k liquidity pool.
This nearly 20% utilization of the liquidity pool in a single day creates a massive opportunity for anyone pooling pHBD-USDC. The average trading fee APR is over 5% which is not included in the APY display on https://polycub.com/farms.
This means that LPs are earning well over 40% APY for wrapping HBD into pHBD and providing pHBD-USDC liquidity on the Polygon network.
Why So Serious Important?
We're not shilling pHBD constantly for no reason. In our opinion, building a $5,000,000 liquidity pool for pHBD-USDC is vital to the adoption of HBD. The onramp and offramp liquidity that a pool of that magnitude provides is astonishingly important.
DeFi whales understand Automated Market Makers. They understand yield farming. They understand liquidity pools.
pHBD-USDC has already onramped several DeFi whales and it will onramp hundreds more. We need your help to keep growing the liquidity on pHBD.
The liquidity is about to cross $400k and it grows every single day.
This is not purely out of altruism. There are a lot of reasons why we want pHBD to succeed. One of the most fundamental is that the pHBD-USDC pool offers PolyCUB 4 methods of value accrual.
As we've seen since the launch of pHBD, POLYCUB has been steadily growing as well. It's accruing value from:
- Wrapping Fees (HBD -> pHBD and pHBD -> HBD)
- On-Chain Savings of Oracle-Held HBD
- Internal Arbitrage
- Governance Utility
These methods of value accrual are generating tens of thousands of dollars in revenue for the PolyCUB protocol. This is massively important for the longevity of PolyCUB but it is also massively important for the adoption of HBD.
Win-Win.
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 and share content on the blockchain while earning cryptocurrency rewards.
Our mission is to put Web3 in the palm of your hands.
Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io
Our Hive Applications
Join Web3: https://leofinance.io/
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
Polygon HBD (pHBD): https://wleo.io/hbd
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
LEO Wrapping Bridge: https://wleo.io
Posted Using LeoFinance Beta
Can the Luna thing happen to HBD? Also, what is the best play for small stake users? HBD savings or the farm. I fully understand why bigger players should play but what about hive/leo grinders?
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The best place for your HBD to be right now is in the pHBD-USDC pool. It will earn over double what your HBD would be staked natively.
In terms of the same kind of attack affecting HBD in a similar way, I would say highly unlikely. Selling HIVE is hard because a lot of it is powered up. Selling LUNA is very easy.
HBD is backed by HIVE. HIVE is backed by the entire Hive ecosystem. There's also not enough HBD even available for purchase to crush the price in that manner.
Maybe I'm wrong?
Posted Using LeoFinance Beta
earning double what? Poly or if I would remove liquidity and have extra at that time?
I was wondering about future attack if/when hive/hbd were bigger. I'm not worried about know, we are the biggest secret on the planet. Nobody has ever heard of us except some gamers lol.
Posted Using LeoFinance Beta
Sorry, double the yield. HBD savings is 20% APR. pHBD-USDC is like 40% right now
Posted using LeoFinance Mobile
yea and the more people know about hive the higher the chance of it being attacked too, like luna. Though of course, the powering up of hive offers some assurance?
Very interesting response you gave here.
This is the very powerful side of Hive's HBD. Added to the fact that Hive is truly decentralized and we have out keys to our assets.
The very beauty of pHBD staking is that pHBD is backed 1:1 y the native HBD on Hive.
Posted Using LeoFinance Beta
I definitely think it's stronger than the fragile system that was in place for LUNA and UST.
Posted Using LeoFinance Beta
Very interesting discourse. As a small stake investor, earning a high profit on an asset with some high level of assured security is good.
pHBD is 1:1 backed by HBD on Hive which are on cold storage. With this, we're better off than what is happening to LUNA.
Posted Using LeoFinance Beta
.
It actually lacks a lot but that is another discussion. The desire to duplicate what is out there is commonplace in cryptocurrency.
However, with this, the goal should be to far surpass what is available. HBD truly has that potential.
Unfortunately, that means going in a lot of directions at one time.
Posted Using LeoFinance Beta
.
Stable Coins in the past few days has proved why we need them around. The case for HBD is one to take advantage of especially with pHBD giving one of the best returns for staking. It has also proved how much of an hedge it could be. Hope more people see, grab this opportunity and HBD gets the recognition it deserves
Posted Using LeoFinance Beta
I am pretty sure some Hive Whales understand this very well. Is there a way to reach the top 100-200 accounts and let them know about this opportunity?
Maybe we can write an open letter to Hive Whales and get it to the trending page so that they will read something that is explicitly directed to them.
Posted Using LeoFinance Beta
I would believe the Hive whales, those active anyway, are aware of this. There is a lot being written about it.
So a lack of awareness of what is being built is not the problem.
Posted Using LeoFinance Beta
What then would be the problem? Ain't they looking out for ways to secure their investments here better?
Posted Using LeoFinance Beta
Breaking that peg, raises one question in me. What if the peg of HBD breaks? I know it does it all the time to the up to the down but only a few cents. Can this happen to HBD and HIVE as well?
Posted Using LeoFinance Beta
Any peg can break. There is nothing that sets the peg other than markets.
The key is to make the stablecoin as resilient as possible. This is a multi-pronged approach.
One thing we are seeing is that both pHBD and the internal exchange are holding the peg rather well. The external exchanges, which show up on coingecko, not so well.
That is why in my comment I mentioned getting the bHBD pool going on BSC. Even if it doesnt have a ton of liquidity, it will be another pillar providing resiliency.
Posted Using LeoFinance Beta
makes sense, although the chart on coingecko looks still better than $UST 😂
that project got rect amd is basically backed by a billionaire. Do Kwons twitter is going nuts right now.
pHBD can be the next stable coin. With the UST saga where it went to $0.71 before back up. Would you want to invest in something that's so unreliable. But with pHBD once there is more liquidity, adoption will quickly follow suit !
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pHBD is nothing more than a wrapped version of HBD. HBD is the stablecoin, pHBD just a derivative off that. At some point, there will be a bHBD also.
Posted Using LeoFinance Beta
Just as there is wLEO, bLEO and pLEO, there also needs to be equivalents for both HIVE and HBD, right? I think bHIVE is missing from this group, and you had just mentioned bHBD.
Since CUB is part of the family, and it will be retrofitted with features tested by its younger siblings, does it look as if there will be wCUB?
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The issue with UST is one to wonder about. Dips clearly shows their reliability and ability to live up to. Nice to see HBD do better and pHBD much more better. HBD sure needs all the exposure it could get right now as it has shown the essence of it's creation in the first place
Posted Using LeoFinance Beta
You are very awesome with all the effort you put into for pHBD to get out there. Hoping people will see what it really is and come aboard.
The internet blew up yesterday not just for the BTC crash but for that $ust lost its pegged value. A similar case happened to $usdn of $waves ecosystem.
Looking at the benefits surrounding algo-Stables, $Hbd definitely has one of the juiciest APY. Not just that. The HBD ecosystem ( hive) isn’t just focused on its 20% as we’ve also got plenty of layer2 projects where their users earn more than they could think of.
Leofinance for example has not only built a finance blogging platform but has also built bridges for outsider whales to adopt the hive ecosystem.
I can’t wait to see the success stories on my timeline. Before then, let’s keep shilling $Hbd, $Hive , and $polycub to outsiders and be ready to put them on how things work here. ❤️
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The tentacles that you describe present an opportunity to build in resiliency into HBD. That is something that is not being discussed in the stablecoin world.
Instead, it is the financialization aspect of things which is not a bad beginning. However, that is all there is to it from what is seems.
HBD can really excel and be more resilient than all else that is out there. For this to happen, we need to build out and delve into a number of areas. It is possible but it is going to take a lot of work.
Infrastructure, depth, and markets are what is needed.
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I like that. It is amazing to look back and see how Hive has expanded and now offers us various opportunities.
Unfortunately, I am having Metamask issues with a sticky transaction so I can't do anything on Polycub right now (I have a ticket open). But once that gets fixed, I plan on getting into pHBD.
I hope others follow suite. I agree that the potential for HBD is huge—and naturally for all of Hive if it is successful.
Despite the bear market, these are exciting times!
!PIZZA
Posted Using LeoFinance Beta
MetaMask is a couple of french fries short of a full pack, so occasionally it will act iffy. Just be sure you can rule out insufficient ETH/BNB/etc. to pay gas fees as the cause of your current situation. If you can rule that out, then it's just a matter of time before tech support can resolve your issue.
Once you're free of tech woes, good luck with your pHBD buys and journey.
Posted Using LeoFinance Beta
The fact that HBD has stayed the same with all the recession and downward movement of everything is a huge plus on the Hive ecosystem. It just shows that we're doing something right.
Posted using LeoFinance Mobile
Off-ramp liquidity is a double-edged sword. Part of the reason HBD was untouched by yesterday's madess is because of the lack of off-ramp liquidity. HBD is not listed on Binance for example, so the shorters could not attack it for laughs the way they did UST.
Not even close but I get what you are saying. There are other layers to develop which are crucial for the resiliency of HBD.
One thing that needs to happen is to get the bHBD LP going on BSC as soon as possible. I get the hesitancy since the goal is to fill up the LP on Polygon. However, one of the keys is to get the derivatives of HBD going. This will add another layer to it. Even with minimal funding into the LP, we could see another path of arbitrage.
The trading volume with pHBD is up. We see something similar on the internal exchange. So while the external exchanges get the attention, these two are assuming a lot of volume.
Add in bHBD as soon as you can. That is another point of resiliency. Yes, we need the entry/exit points but we also have to get the other aspects going.
Hard to build all at once but that is what we must do.
Posted Using LeoFinance Beta
It goes back to modeling activities for HIVE, HBD, and CUB after what had been done with LEO: make it available across the popular blockchains (Ethereum, BSC, and now Polygon), then make transfer among these chains as painless as possible.
Until we can use local currency directly to buy cryptocurrencies we want (even HBD), we need to find ways to minimize activities at the on-ramps/off-ramps of centralized exchanges.
Other stablecoins can be used to get money out of centralized exchanges. After that, we can do everything else we need (including buying BTC/ETH/BNB/MATIC/etc.)
Posted Using LeoFinance Beta
The HBD keeps on progressing which is awesome for a stablecoin and a way forward for decentralized platform with massive development occuring in the blockchain.
Posted Using LeoFinance Beta
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The recent tragic incident with UST is alarming but at the same time HBD has turned out to be a decentralised stable coin. Now when stable coins have become an important part of the crypto ecosystem so it becomes even more important to have a solid approach and glad to see that you're focused on the pool and have decided not to sell. You make everyone proud Leo finance.
Thanks for clearing this point and that too when UST de-peg is the news of town. I am sure that this will help many investors to choose phbd as a reliable pool and encourage them to invest without worry. Thanks leo team for making it clear. Appreciate it
What happened to Luna and UST is truly tragic, I think people have learnt and will introduce a new feature to prevent something like that from happening again.
As for HBD, while exposure is essential, I still believe in massive marketing, this way, we get the minor retailers before the bigger whales
I'll keep adding to my ability, 5M will take some time.
Wow! There’s so much for me to learn and catch up with!
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Pretty intense week it has been with the market. Quite some situation with ust. I believe it is time for pHBD to get all the attention. Would be cool to see more hive whales embrace pHBD.
Posted Using LeoFinance Beta
You’re gonna need a bigger HBD.
We need a lot more HBD to take on the world.
Im not sure HBD is afraid of an angry fish lol.
Posted Using LeoFinance Beta
The HBD is moving great and also to be a stable coin as well which I believe is part of development and improvements on the Blockchain. Good job
I think we have done well to stabilize HBD, even when we haven't totally gotten there. What happened to UST was a mess, and I wish we can someone have a channel to market HBD and it's utilities out there. I'm loving pHBD and how its aiming to provide more liquidity. We all know that liquidity is very important. Hive itself as the mother Blockchain will even become better in years to come. I see no reason to stop.
Posted Using LeoFinance Beta
thanks for the info, the recent crypto bloodbath will show what coins have actually utility and can withstand time
It was scary watching UST de-peg making LUNA price to drop by more than 50% but this can be the time for HBD to shine! Not only it provides higher APR but also stabilizing thanks to the USDC/pHBD pair on polycub!
The only step left in bigger liquidity!
Posted Using LeoFinance Beta
HBD has survived for a long time and I think it has the potential to be the best stablecoin. Earning 20% income by saving HBD is a great opportunity for many investors.
Once the HBD liquidity issue is resolved, I think HBD will be the best stablecoin. PolyCUB took an important step towards this and launched the liquidity pool.
More whales will join the Hive ecosystem as the liquidity issue is resolved. I believe that incredibly good things will happen when the trade volume of HBD reaches millions of dollars.
Posted Using LeoFinance Beta
I have no doubt that the UST thing was a Soros vs. British pound attack. That has to leave us a valuable lesson, we must improve the countermeasures and increase the liquidity of this type of currency.
Posted Using LeoFinance Beta
Someone has to benefit from what is happening to UST. in the 1990s it was George Soros, back when he was considered a genius and rightfully so. I think he shorted GBP at the time? He may have done other things, but that seems to be his claim to fame.
So who stands to benefit by what's happening with UST? I wouldn't mind investigating, only I don't know the nuts-and-bolts of research to do this when it comes to cryptocurrencies.
Posted Using LeoFinance Beta
Awesome work
You know what will help propel hive, Leo and hbd? Fiat on-ramps that do not require aml/kyc
Posted Using LeoFinance Beta
Can't wait to see HBD really become much more known!
Posted Using LeoFinance Beta
One can never find any instrument equals to 1 USD, which pays %20 interest annually.
Trying to get my hands on HBD is a serious challenge and even more so now that the price of Hive as dumped I believe less HBD gets printed? (I could be totally wrong on that however) Trying to buy it from other places including Hive is also a huge challenge. So much of it is locked up and really got locked up when millions got bought up to support a play2earn game. It's going to take some time but I believe we are moving in a right direction towards mass adoption and where Hive and LEO start to become names we hear often in the crypto world.
Posted Using LeoFinance Beta
Could you elaborate on this? What are you referring to?
Posted Using LeoFinance Beta
Was last year but nearly everything on the market got bought up. It's since returned to somewhat the levels we use to see on exchanges. I believe Splinterlands bought up a large sum of it in order to on board all of the new accounts at the time.
Ah okay. I didnt know what you were referring to.
Yes I am not sure how much is in there but didnt they scoop of HIVE? Arent accounts created using that?
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Every investor is looking for a risk free asset that will bring them a high and stable return. Banks ridiculously failed at that by offering less than 1% APR on your savings and most stocks and mutual funds barely gives you 7–8% APR.
So, here comes the best part. Not only can you stake a risk free asset to earn a 20% APR, but you can also earn Hive by blogging and convert this crypto to HBD to earn more interest.
Overall, Hive is a great project and now that the HBD staking has raised its interest it’s even better and easier to make passive income.
On top of that, for people who want to keep things in-house there exist liquidity pools where SWAP.HBD is either a base token or a quote token, and some of these pools offer LP Rewards. Use these LP Rewards as funds to buy more HBD or as additional contributions to these liquidity pools.
I realize it's not the same as adding liquidity to the pHBD pools at PolyCub, but for people not ready (or comfortable enough) to do that this would be a safer option for them.
Posted Using LeoFinance Beta
Yeah right ! Big ups to the Hive engine team for making that possible.
For me,the best coin to invest now crypto is in bearish trend,is the stable coin. Is more self than others.
Posted Using LeoFinance Beta
If so I'll be very happy. I'm saving HBD to accumulate good sum or amount. I wish HBD will bring more financial value.
To me HBD is a no brainer, but like you said, most people has never heard about it!!
Posted Using LeoFinance Beta
doesn't this event show how important having that bailout fund supporting tera ended up being. Here's hoping hive gets that super important bitcoin vault to prop up hbd soon. as well as more liquidity.
Posted Using LeoFinance Beta
No it is actually the opposite. It shows how lack of resilient UST truly was.
Posted Using LeoFinance Beta
Well that's promising for all of hive then, thanks
Posted using LeoFinance Mobile
Potentially. We still have a lot of work to do. There are many tentacles we have to focus upon.
But the fact there is some knowledge about this means we have a chance.
Posted Using LeoFinance Beta
I think the recent dip really shows why stablecoin are very important and for hbd I think there is still need to creat more awareness about it utilities so that more investors can be attracted.at the moment hbd has the highest Apr if I am correct so if there is
concrete awareness about hbd, people will see reasons to come in
Posted Using LeoFinance Beta
Thanks for sharing and have a nice day.
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Esperemos pues todo el exito y popularidad para nuestra HBD que así sea. excelente contenido.
HBD is on the road to bring billions of dollars to the hive network. The innovative and tech survey poly cub was a good move
Posted using LeoFinance Mobile
That's true. But HBD needs to establish its footprint as a true stablecoin. So a proper mechanism for that is needed. If it can identify itself as a true stable coin, then it has enormous potential. Please remember that despite the huge first layer and second layer opportunity that HBD has created in the context of DeFi, it is still viewed as a speculative coin, not a stablecoin. Not bad being a stablecoin either as long as it generates profit beyond $1 and does not plunge below $1, but it still needs the identity of a stablecoin to lure the stablecoin players.
Posted Using LeoFinance Beta
Yeah I think HBD is superior to UST for a lot of reasons. There's just not enough attention around it, and pHBD is helping drive it to the masses.
Posted Using LeoFinance Beta
Is there a risk with this ? I mean wrapping HBD into pHBD and providing pHBD-USDC liquidity. My investment in Cub has really scared me to invest in any Defi project.
There was likely a George Soros on Black Wednesday style shorting going on with the UST incident. Here is a great article that sums up the situation:
https://onchainwizard.substack.com/p/how-to-make-800m-in-crypto-soros
I think HBD could handle a situation like this better. LUNA did not have much value outside of its stablecoin ecosystem. HIVE on the other hand has many DAPPs built on top of it along with a great community. I think the situation would have worked out better for LUNA if it was acting as another EVM chain with a healthy ecosystem of DAPPs.
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HBD keep making a wave and that's great for a stable coin and I believe with time it will definitely attract more and biggest investors
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