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I bought the dip, HBD stabilization and recuperating what I lost

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Belemo
@belemo
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3 min read

Everything is taking a beating these days. Although to be completely honest, I'm still in the green overall.

Anyway, due to the low prices, I've been DCA-ing into different projects that interest me. The most recent acquisition is Cake that I bought at an average price of $10.9.

I don't know if it's a solid investment or not, time will tell. What I know for sure is that Cake has huge potential, especially considering it's the governance token of one of the highest-grossing DEXes on Binance Smart Chain.

After getting cake, the next issue was figuring out how I want to use it.

If you recall, I use to hold some cake that was stolen from my wallet when I was hacked. Back then, the value of the cake was much higher than it is now but the volume on the other hand was about the same as what we have now.

So, technically speaking, I've gotten back most of the cake that was stolen from my wallet. There's still some way to go, so I can't be slacking.

Anyway, I was initially stuck between staking Cake for SPS tokens or staking Cake on Cubfinance. At the end of the day, I went with Cubfinance because of the incoming Polycub airdrop.

I also picked Cubfinance because right now, I'm already receiving daily SPS airdrop. On top of that, I've recently staked more SPS tokens that took my total stake to 6550 SPS tokens staked.

With the number of SPS tokens I have staked, I earn like 10 SPS tokens per day as staking rewards. So in total, I'm already earning approximately 80 SPS tokens per day and rising.

My decision to fully move my activities to the rental market has paid off. I recently added Harklaw to my collection and put it up for rent. It was taken off my hands almost immediately.

I've also had the time to delegate some monsters to my friend @elemi and now he's up to Bronze 1. Hopefully, I'll receive something good in the CL launch and increase both my rental activities and my friend's collection power.

Thoughts about HBD

HBD is supposed to function as the dollar peg around here. Many would even like to refer to it as a stable coin.

However, I've really struggled with its fluctuations, especially when it comes to performing transactions. For the past couple of days, it has traded quite below the $1 mark that it's supposed to be at.

I can understand moving away by a fraction or a few cents but dropping to the $0.94-0.98 range is really unacceptable. The algorithm (HBD Stabiliser I think) that regulates the printing and market value of HBD can't still keep up with the market.

Perhaps it is time that we consider taking even more steps to regulate the price of HBD.

For me, it's very frustrating because it makes it very difficult to leverage its purchasing power as a dollar when it's almost always never a dollar.

I don't know about others but I get very frustrated when I pay 54HBD for an item that's $50. I get it can't be perfect but this is a huge margin that we really need to fix.

Purchasing power of Hive-engine tokens

One of my recent purchases has been Splinterlands credits. I'm surreptitiously gearing up for the third sale of Chaos Legion packs.

Honestly, those 12 million packs will sell out in a couple of hours, so if you're not stacking credit, let this be a reminder. Anyway, I've used Hive, HBD and most interestingly, Leo to buy credits.

Interestingly though, there was no SPT, POB or Oneup on the list. I figured SPT could have been used, since it is one of the affiliated tokens of Splinterlands but it didn't get the nod.

POB has also been around for a while now and I think it's in need of some development. One awesome development would be to have it listed as a payment option in certain places on Hive at least.

As a blogging platform, POB is doing relatively well. Authors are rewarded and the token is getting distributed. However, I think it needs to do a bit more than it offers.

I believe the same can be said for many tokens on Hive engine. It's cool that we're getting rewarded from posts but I think there's a need for a bit more. These tokens from all these awesome platforms need to get a bit more use cases than simply for curation.

I believe that adding even more functionality to Hive-engine tokens will be rewarding in the long run. Perhaps through that process, we'll see more projects like Leofinance and Splinterlands that will grow beyond the shores of hive.


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