pHive is basically hive integrated on the polygon network. The idea is to create more liquidating for hive, where people can easily acquire the tokens without having to go practice scalping to gain a good position on centralised exchanges. Added to this, liquidity providers are rewarded for putting up their tokens for the network.
I saw this explanation a short time ago, and it worked for me, so I will attempt to provide it here:
pHIVE is similar to wLEO on Ethereum.
wLEO is Wrapped LEO accessible to people using Ethereum, so this makes wLEO an ERC20 like most other tokens on Ethereum. LEO is only available natively on Hive Engine, but wLEO on Ethereum allows us to tap into the value of the native LEO token.
When we move wLEO to Hive Engine, we end up with LEO. For LEO to end up on Ethereum, it needs to take the form of wLEO.
pHIVE operates in a similar manner, only the Polygon (MATIC) network is hosting it rather than Ethereum in the case of wLEO. That's all the p- prefix in pHIVE indicates.
If this explanation makes sense, I did my job. If the explanation is still lousy, please accept this slice of !PIZZA for additional trouble I caused.
pHive is basically hive integrated on the polygon network. The idea is to create more liquidating for hive, where people can easily acquire the tokens without having to go practice scalping to gain a good position on centralised exchanges. Added to this, liquidity providers are rewarded for putting up their tokens for the network.
Thanks for the reply and explanation, but I must say I still can't get my head around all of this.
I saw this explanation a short time ago, and it worked for me, so I will attempt to provide it here:
wLEO is Wrapped LEO accessible to people using Ethereum, so this makes wLEO an ERC20 like most other tokens on Ethereum. LEO is only available natively on Hive Engine, but wLEO on Ethereum allows us to tap into the value of the native LEO token.
When we move wLEO to Hive Engine, we end up with LEO. For LEO to end up on Ethereum, it needs to take the form of wLEO.
pHIVE operates in a similar manner, only the Polygon (MATIC) network is hosting it rather than Ethereum in the case of wLEO. That's all the
p-prefix in pHIVE indicates.If this explanation makes sense, I did my job. If the explanation is still lousy, please accept this slice of !PIZZA for additional trouble I caused.
Thank you so much for the explanation, it indeed helped me!!
Here is a nice !BEER for your efforts
BEER-- I don't get that too often. Thank you!!
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BEER.Hey @magnacarta, here is a little bit of
BEERfrom @rynow for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Just a "wrapped" version of HIVE. No different than pHBD versus HBD.
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