#AskLeo - Is HBD killing the layer two tokens?

2 mo
LeoFinance
2 Min Read
308 words

Hi,

for today's #AskLeo, the tag from @acesontop (give him a follow and a read, as he has got some good posts), I want to ask you something purely related to the Hive universe. With HBD having a 20% APR in staking, is it going to dominate the Hive blockchain?

I think this is a legit question, as most coins are dead already and some are having a downward trend, since their inception. We see in the first weeks a spike, followed by a crush of the price.

Well, my take on this is that layer two tokens will have definitely a tough time and maybe it is good so, as from cycle to cycle, the projects need to evolve or clean themselves.
There are projects that are well set, where is a strong community behind and also a development plan. This will thrive and I hope, that they will inspire others, like the @leofinance community is doing. Building multichain projects, but staying on Hive as a migration will harm both of the projects, Hive and Leo.
We have also the games present on Hive, which are a case of their own. Not all are successful or are going to be successful, but games like (Splinterlands)[https://splinterlands.com?ref=victor-alexander] which are major ones or niche games like (Rising Star)[https://www.risingstargame.com?referrer=alexvan] will definitely find a way.
This two examples, will be the least affected by HBD and the changes on the first layer. The rest, I don’t know what the future will look like, as people will dump them mostly, as they do now, but at an accelerated rate. I still have my favorites, as I keep on stacking on different projects, and I think this will survive and even grow on the long run.

How do you see it? Is HBD now the Hive-Engine token killer?

Posted Using LeoFinance Beta


I think that those who are interested in the social platform will keep building and those who just want to grow their money will also have options and maybe stop adding poor posts, but time will tell.

I'm still buying Leo daily. I use HBD like a piggy bank and throw some spare coins in there when I have rewards.

Posted Using LeoFinance Beta

0

As whatsup said the hive ecosystem consists of people with varying interests and it's fine. This is what we want. As regards HBD savings killing second layer tokens, I don't think that is the case. I think the reality here is most of these projects do not have a solid plan or are struggling to gain traction. Whales will most likely gravitate towards HBD savings, while the regular folks would explore second-layer communities and tokens to diversify their portfolio.

Posted Using LeoFinance Beta

0

HBD can be a game changer with respect to layer 2 coin projects, but it would definitely need a good backing, marketing plan, solid liquidity locked for a big time, buyers and hodlers.

Now to question, To some extent in the beginning due to its lucrative APR, but HBD does not give you power it can simply be a utility token for savings or liquidity pairing.
The project needs Hive to remain in action since it is the only power hivers can use to measure the ecosystem.

0

Your content has been voted as a part of Encouragement program. Keep up the good work!

Use Ecency daily to boost your growth on platform!

Support Ecency
Vote for new Proposal
Delegate HP and earn more

0
2 mo (edited)

Unfortunately, most of the layer-2 tokens on Hive-Engine are "hobby tokens"... People start them as they have some free time, maybe to experiment as costs of creation are relatively low, and without too much knowledge about tokenomics in general...

We can't say that HBD APR will kill them as they were already half-dead before 20% on HBD savings... Of course, as you said, there are some great tokens with strong use cases that will stay regardless of HBD, or any other thing...

Btw, don't get me wrong... The same image is in crypto in general... Shitcoins are like 98-99% out there, and only 1-2% are good, innovative tokens...

Posted Using LeoFinance Beta

0

It won’t be a surprise to see it happen as 20% stable APR is very hard to fight against.

Tribes will need to evolve to incorporate HBD’s somehow, there’s a lot of things to copy from Leofinance to enable them stay afloat.

This is 2022 tribes running purely on 2020 format won’t remain competitive for too long.

Posted Using LeoFinance Beta

0

I stake my HBD rewards every day to build a passive income but the rest stays in hive, buys up leo or just goes to work.

20% is nice but it won't be that good if hive gets to $10.

Plus i like having a large stake in the chain. It's good to have a say in the direction of things and have a good upvote.

Posted Using LeoFinance Beta

0

I think competition is very good for projects to improve themselves. That's why I like bear markets because in bear markets people focus more on projects. As the value of a project rises, their development slows down, but as the price drops, they focus more on improving themselves. Otherwise, they will disappear.

I'm not sure if HBD kills layer two tokens but I think those who don't want to get lost should focus more on improving their projects. I will continue to hold all my tokens in my Hive wallet. I continue to increase my power with my daily earnings.

Posted Using LeoFinance Beta

0

I don't think it will completely kill them but I think there will be some who will sell 2nd layer tokens to get a better yield. It depends on what the user wants.

Posted Using LeoFinance Beta

0

HBD would be the HE token killer if they would be actually eorth something :P

0