The latest development in the Hive ecosystem is wrapped HIVE or wHIVE.
Basically, its HIVE on Ethereum. This allows the HIVE token to touch the ETH ecosystem and exploit all the possibilities that an ETH token can have. The latest hot trend, DeFi and DEXes like Uniswap.

One might think why would I like to go to ETH from HIVE, from a fast a feeless network to a network with huge fees? Well most of the crypto action at the moment is on ETH, so this is basically a door into a billion’s dollar market. It can’t hurt to have the option.

The announcement post for wHIVE came from the developer @fbslo Introducing Wrapped Hive - Hive on Ethereum!.

You can read more details there. Also the web interface for wHIVE is https://www.whive.network/

Few others community members @khaleelkazi, @cardboard, @jk6276, made nice posts and tutorials on wHIVE. You can check them out.

The possibilities for use cases on ETH can be huge. The obvious one at the moment is DeFi, or using HIVE as collateral or loan. For example, one can have some BTC or ETH, put it in collateral and loan HIVE. Then use that HIVE on the Hive blockchain for curation etc.

Amount of wrapped/unwrapped HIVE per day

These are very early days, but there is already transactions happening.
The Hive account for wrapping HIVE is @wrapped-hive. So here we will basically look at the transactions to this account for wrapping HIVE and the transactions from the account for unwrapping. There are some test amount and fees, but those are not a large part.

There is some small amount of HIVE wrapped on Aughust 21st, but some larger amounts came afterwards on August 23rd. Around 5k on that date. The record high was on August 25th with around 22k HIVE wrapped.

A total of 77.8k was wrapped in the period from August 21st to August 29.

Unwrapping HIVE! How things stands with unwrapping HIVE? Here is the chart.

The amounts here are overall smaller with the record high of almost 5k on August 21st and 25th. As of today, August 30, when I’m writing this there is also a big amount of unwrapping HIVE, larger than 5k, but because the day is not over yet, can’t close the numbers.

A total of 14k was unwrapped in the period from August 21st to August 29. Taking into account the ammount of wrapped and unwrapped HIVE there is now around 60k HIVE on the ETH network as wHIVE.

Top accounts that wrapped/unwrapped HIVE

Who is doing most of the wrapping/unwrapping?

Here is the chart for the top accounts that wrapped HIVE.

@cardboard is obviously playing around the most 😊., with more than 11k wrapped HIVE. Next @gokuisreal and @xxxxxxxxxx with 10k each.

How about unwrapping?

@thebluewin on top here with more than 5k, followed by @cytotec. The @wrapped-hive account is mostly for testing purposes. Cardboard has done some unwrapping as well.

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Overall, these are very early days for wHIVE. In my personal opinion the potential is huge. There is already a listing on one DEX, Uniswap, where most of the speculation in the crypto world has been happening in the last months. More DEXes will probably follow. DEXes are on the rise this year and HIVE will do great if listed on more of them.

Next are the DeFi platforms. If we manage to list HIVE on the DeFi platforms like Compound, etc. then this will be great. HIVE will be used for collateral and loan.

Will see how this plays out, but having HIVE this early in the DEX and DeFi game is a great thing.

All the best @dalz

Posted Using LeoFinance