As Hive users I think we all believe that HBD - Hive-Backed Dollars - is one of the most superior algorithmic stablecoins that is out there.
One of the most frustrating parts about it is the lack of liquidity. Outside of that, HBD Is one of the most fundamentally sound stablecoins that we see in the crypto industry today.
With all of this being said, LeoFinance has been expanding our Web3 ecosystem to new blockchains.
Democratizing the access to financial opportunities within and outside of the crypto space is our entire mission. We do that through education on LeoFinance.io user-generated content but we also do that through building tools that serve as portals to the DeFi world - which is rapidly changing the power dynamics behind Web3 access to financial opportunities.
We're building our own version of a wrapped HBD token that we're preparing to launch on the Polygon network. This will rely on an oracle which can be seen as its main weakness however it will also be the deepest liquidity pool that HBD has ever seen.
We're creating a pair for HBD as HBD-USDC on Polycub.com. This will also be subject to the governance voting on LP Incentives that we're building into the xPOLYCUB Governance Token structure. The mechanics serve both PolyCUB and Hive:
- POLYCUB benefits by accruing vault fees + interest on HBD
- Hive benefits by getting a super-deep liquidity pool for HBD
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.