HBD is the Best Stablecoin

The excitement in cryptocurrency adventure seems to be watered down each time there is a bearish market as we presently experience. This has made a case for Bitcoin, the world's first crypto to be termed scam. This is due to the volatility of Bitcoin and other cryptocurrencies which makes them respond unguardedly to market forces, FOMO and FUD.

The creation of stablecoins was to cushion the effect of crypto's volatility. The price of stablecoins are designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals). Some Stablecoins are pegged to $1 USD and others to the dollar equivalent of other cryptocurrencies like HBD pegged to $1 worth of Hive.

Stablecoins are meant to provide some level of the stability that is lacking in most cryptocurrencies. This qualifies stablecoins to be used as actual currency (fiat). Such utilizations span from savings to commercial applications to collateralization, and more. This is attracting many crypto enthusiasts to stablecoins and this also pave way for more fake stablecoin projects and other that are haphazardly built. We all know the Terra LUNA story of late and how millions of investors assets has been washed into the drain into nothing.

Falling into the snare of such failed project like LUNA's UST therefore exposes the risks that are associated with stablecoin and how some investors are not careful to lookout for the characteristics that actually make a stablecoin to truly serve the purpose that the name implies.

Every investor wants to have his investment capital protected from sudden price swings. Such would only be possible when a true stablecoin has been identified. Today, Tether as the world's first stablecoin is the most transacted with deep liquidity. The price has stayed solidly around the $1 peg for long ad this is building trust and making it serve as a base currency on several blockchains and DeFi projects. Merchants would be comforted to integrate a coin like Tether in their platforms since its value can be relatively stable over a long time.

Watching this video by @Tasmaskter4450 few days ago where he outlined a number of ways that stablecoins can truly serve their purpose, it motivated this post which seeks to draw from investors standpoints the characteristics they look for in stablecoins before investing.

From his video, I drew that stablecoins should truly serve the following and more:

Commercial Applications (shopping )
Savings for Interest
Staking for DeFi LP rewards
Value Transfer
Collateral for Crypto Loan

Amazing that on daily basis, the usecases of crypto is growing. Every investor should be on the look-out for the usecases that each digital asset supports. This is the actual value of crypto.

Great thoughts you shared how cryptocurrency has evolved from value transfer to commercial use cases, to collateralization and more.

HBD is presently the Best and longest algo-stablecoin. From Hive where it premiers, HBD has spread to the Polygon Blockchain as pHBD and will soon e wrapped to the Binance Smart Chain as cHBD. Moreover, the Hive second layer also holds HBD to the tune of $219k supply and the prices stays as high as $1.05, with its pairs in several DeFi pools.

On Polygon, the deepest market for HBD is the wrapped pHBD pooled with USDC. A deep liquidity of $406k is just the starting point. With @Hivelist looking forward to integrating pHBD to Polylist, we'll see the face of an added utility for HBD in commerce.

Already, there are plans to utilize pHBD on PolyCUB collateralization protocol that would be unveiled soon. Hive Dollars yet remains unpopular in the Stablecoin Hall of fame but it stands stronger above all with a a leasing savings interest of 20% APY nnd DeFi APY of over 50% on PolyCUB.

Are you bullish about HBD yet? What is your best selling point about HBD or your favorite Stablecoin?

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About me...

I am a called teacher, a serial entrepreneur and a Graduate of Agricultural Engineering. Nigeria is my root and a place full of opportunities. I dropped out of a Master's Degree program due to funds, yet I do not regret growing the courage to start my business from the scratch. Today, I've built layers of Businesses on the Hive blockchain in terms of Curation and it's a sustainable passive way of earning crypto while learning.

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