The first and immediate use case is access to decentralized exchanges or DEX. The ability to buy and hold HIVE and HBD without the need of a Hive account on wallets like MetaMask or TrustWallet. This enables us to have second layer tokens that we can trust.
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Access to DEXs? We have that already, don’t we? StealthX for example or SimpleSwap both do HIVE vs BTC, ETH or Stable Coins.
And which ETH holder wants to have HIVE without even knowing the platform (=have a Hive Account with a wallet)?
StealthX and SimpleSwap are not DEXs. They are centralized exchanges who are using Binance in the background for HIVE.
Over 200 million HIVE tokens are currently held by centralized exchanges. +150 million HIVE is just on the Korean exchange Upbit. For context, total liquid HIVE right now is ~280 million.
It's about providing ease of access to non-custodial wallets and not being overly dependent on centralized entities.
Ah ok, and you think some Korean traders rather want to put a bridged Hive Token in their Metamask than have things ready on their CEX?