For some it may seem apparent instantly but the importance of pLEO and pHBD should not be their farming aspect and potential. They unlock a whole new world for Hive users. Let me explain.

A Lot More Than Meets The Eye

Ever since they were introduced by Polycub, pHBD and pLEO have been seen as a means of earning passive income on our own DeFi 2.0 platform but they actually unlock a lot more value for all Hive users.

If you wanted to bridge funds from Hive to chains like Celo, Optimism, Harmony, Arbitrum and others, you would need to send Hive to a centralized exchange, swap it for another cryptocurrency and then withdraw that cryptocurrency to the chain of your choice. This is all neat for people that don't mind using CEXes or performing KYC procedures but those that want to get away from them had no other option. It all changes with pLEO and pHBD.

Endless Possibilities

With the introduction of the above-mentioned assets, we can now swap Hive for Leo or simply use HBD to enter a completely new market directly from Hive. If you wanted to move $100 from Hive to Optimism here is a simple route:

Swap Hive for HBD -> Send HBD to Polygon and receive pHBD -> Swap pHBD for WETH on Sushiswap -> bridge WETH from Polygon to Optimism using Hop Exchange.

The same process can be completed using Leo as well.

Maybe I am missing something but the only way you could send assets from Hive to other blockchains was through Tribaldex and liquidity is almost always a problem over there.

Why Bridge From Hive?

I know that the current market conditions are boring and depressing but airdrops are still a thing, in case you forgot. Just two days ago three of them were announced and all Ethereum Layer 2 solutions will probably be dropping a token in the future.

Arbitrum is a fun place to explore with transaction fees sitting at roughly $0.6 right now. You are technically still using Ethereum when you interact with Dapps on Arbitrum but at much lower costs and high potential that you will get some free tokens once they launch.

Another reason would be collateralized loans. They are still a work in progress on Polycub but if you need a loan right now you can easily get it on Matic. Since we are talking about airdrops, you should take out loans at 0VIX if you want a chance at getting free sheckles. But, if you don't want to experiment with new platforms AAVE is always at your service on Matic.

Posted Using LeoFinance ^Beta