Ask Leo: Which Is The Best Stable Currently Out-There In The Crypto Market
So today I decide to Participate in a contest which is centered at attracting more users to the platform and on this article I would writing on our beloved stable coin, I won’t go in deep It’s just a scratch of the surface.
Since the emergence of cryptocurrency it has definitely provided us with so many opportunities for us in this present society, as the internet as we know it just enter it’s 3rd phase we seen so many web3 base sites spring up in this space will I will say am so fortunate to be part of this eco-space which I will introduce to you is the Hive blockchain and other social platform that are built on this blockchain such as Leofinance.io, proof of brain to mention a few.
The interesting fact is all this platform or as they refer to as front end has it’s own native token assigned to each and you earn all this by engagement.
Some of these tokens that are earned on these platforms are Hive, Leo, Level1, proof of brain, the Hive backed dollar etc. But for this post I will be concentrating on Hive Backed Dollar which is represented as HBD.
The Hive Backed Dollar is the stable coin of the Hive blockchain and it is group under other stable coins such as the USDT, UST, DAI to mention a few. HBD which is pegged to the United States Dollar(USD) in 1:1, other stable coins would quickly claim that they are backed by the USD but most times it turns out to be false.
In recent market times(dip) and the Terra stable coin crash which plugged the market prices down further the Hive Backed Dollar still maintained it’s course with a stable market. This can be attributed to its tokenomics and the mechanics behind the stable token Hive Backed Dollar (HBD). The hive blockchain offers opportunities such of which are savings, farming, staking.
Why Hive Backed Dollar?
Well, why HBD you may ask, out been a stable coin HBD offer huge opportunities but with the ecosystem and outside.HBD also acts as a utility tool to bag the hive token and other alternative tokens in the hive blockchain. HBD can also be logged on in your savings account on your hive portfolio, and with the recent increase in APY to 20% there is no way you ain’t earning more for just little effort.
Posted Using LeoFinance Beta
