Mass adoption of HBD as decentralised stablecoin

in LeoFinance2 years ago

Mass adoption of HBD as decentralised stablecoin.png

In recent weeks, gigantic amounts of HIVE are being converted into HBD. In July and August, more than 11 million HIVE was converted into HBD, this only reinforces the belief that HBD could become a decentralised currency for a huge number of people in the future.



It is good to see Hive Backed Dollars around its peg, $1 worth of HIVE. For the last week it has oscillated brilliantly gently below a dollar or marginally above, this is good news as you can see the rate is slowly starting to flatten out to stay at identical levels. As I decided so I did and practically all the HBD I manage to get from writing articles on my blog I allocate to the Hive Savings account. These are not the amounts that people, for example, invest in bank deposits or cryptocurrencies, but as long as I do not have anything to do with HBD it is nice to watch how slowly the assets grow with a speed of 10% annual interest. I don't think you'll find a better interest rate as safe as holding an asset in your own account.


@splinterlands has also grown gigantically over the last few weeks. The market, the number of players, the marketing. What not to think about this card game on Hive it all flew high by several hundred or several thousand percent in terms of card value and daily registrations. It is a well-known fact that Splinterlands is good business for investors. Who bought Untamed packs before the end, today counts profits at the level of two or several thousand percent, similarly with Dice packs when DEC was at a reasonable price. Hence I think that attracting investors to Splinterlands, which is really also to Hive, may cause some to start taking an interest in the embedded savings account on the blockchain that has so much to offer.

The future of HBD

Looking at the summaries prepared by @dalz and his short news @dalz.shorts one could deduce that HBD at certain points made HIVE a deflationary asset. Situations where half a million HIVE is converted to HBD could affect the overall token supply if such actions become more frequent and larger. Personally, I think there should be more talk about HBD and increase the number of exchanges where the token can be bought or sold. Often such procedures result in a given token being of interest to tens of times more people than before the cryptocurrency was listed and given that HBD should cost and is aiming to be worth one dollar of HIVE this should not negatively affect the price.

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Thank you and until the next time, Nervi.

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