I am confident those chains which have a great number of benefits in stablecoins will end up succeeding. I am even more convinced if those stablecoins are algorithmic instead of backed by centralized entities. We can take a look at Terra and its UST main stablecoin getting its USD pegged out of an algorithm and adding the Anchor protocol offering almost a 20% APR paid in UST.
I see Hive has a potential opportunity there, our user base engagement is the strongest, things are growing strong with games such as Splinterlands and now with the expansion of Leo finance with Polycub and some other EVMs coming, and finally with SPK Network launching quite soon.
Adding a 25% APR product on a Stablecoin will bring us to the highest yield for a stablecoin, if we spend some effort communicating it, we may see some big whales adding some of their liquidity into Hive and helping grow and stabilize it.
All I can see is the benefits out of it with basically the same risks as any other blockchain. But considering the old Hive is, and how it has been growing, I think it is a great opportunity to consolidate the ecosystem growth.
It is true it will take promoting and talking to others about it. The first leg will be the community stepping up and moving some of their resources onchain. That is where the first wave needs to come from.
With a strong APR and little downside risk, it should be appealing to a lot of people.
Posted Using LeoFinance Beta