Hive-Backed Dollars (HBD) have long-been an underappreciated aspect of the Hive blockchain.
Recently, there's been an increased focus on HBD as a massively important mechanism on the Hive blockchain.
With Terra (LUNA) exploding thanks to their platform mechanics, amazing community and algorithmic stablecoin approach, we think pushing HBD as one of the core selling points of the Hive blockchain is an extremely smart move.
Stablecoins are one of the best parts of the crypto industry. They are gaining traction on a ridiculous level and from all sorts of investors - retail, institutions and even governments.
HBD has the potential to become a top 10 stablecoin if the positioning is right. In this clip from last week's AMA, we talk about HBD right now and how we think it could become popular in the future if the mechanics are further improved.
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Ah Hive Backed Dollars (HBD) - Hive's stable-ishcoin.
In all honesty though, I totally agree that HBD is a massively important mechanism on the Hive blockchain and will have a huge say in how high the price of HIVE itself can go.
Once the US regulator pulls its finger out of its arse, the entire stablecoin industry (primarily denominated in USD) is going to receive a huge shake up.
And once you dig a little deeper into how those in the market today work, you'll quickly see that there aren't a lot of truly decentralised, algorithmic stablecoin options outside of HBD.
The growth of Terra's UST shows what we could do if Hive gets it right with HBD.
I'd like to see the Hive powers that be, doing everything in their power to stabilise and promote HBD as the premier algorithmic stablecoin available.
Centralised exchange listings (hello Binance) and more of a discussion around edicted's AMM idea need to be made a priority.
Let's do this!
PS. I'm loving the format of these small clips, so thanks for doing them :)
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I notice one of the witnesses has it set for 15%. And you can find a few others at 13%. I wonder if this will slowly tick up and we'll see another increase. 15 or 20% would be great and I agree it could attract a lot of people here (and I agree—easier signups are a must for Hive! But I've been saying that for the past 4 years)
I've started putting a bit of what I make each month into HBD savings. If they increase the rate, I'll put even more.
BTW, I love these smaller clips @khaleelkazi. Please keep it up. I was watching the AMAs every week, but recently I just don't have time. The smaller clips make it easier to keep up with things.
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currently valued at ~$0.8 ouch! But I have hope :D
Don't be confused by HBD price on Bittrex: the price there is wrong because deposit/withdrawal of Hive and HBD is broken there right now. Currently HBD is about 0.98 USD on other exchanges.
oh okay, thanks for the clarification!
The stable coins are probably one of the easiest way to make people affraid of crypto volatility come here. Having those huge 12% apr is really something too.
Putting more effort into it will for sure have a lot of returns for everyone here ! Thanks for what you're doing, please continue like that and make me rich ! !PIZZA
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I am still rather new to this platform still but for me I am actually quite interested in HBD because regardless of if hive continues to go up or down hbd to me feels like the "safer" play especially if it is backed by hive itself. The platforms strength is literally more directly correlated to HBD than it is to hive for the long term I believe.
I actually use it as a pretty good hedge right now. If I feel hive has had a run up I'll take 50/50 for my post, but on a downrun I actually would choose 100% powerup. I know that may actually sound like a flipped logic, but for me it makes the most sense because if you are overall bullish on hive in the long run this works as an effective strategy to pretty much "dollar cost average" in a unique way.
Although I really recommend waiting before choosing to ramp or collectively ramp marketing into HBD because you want to make sure to create a higher overall circulating supply with as much unique individual holding and try to get it more spread out then just a few core members having a massive holding. That makes it more appealing in terms of the average investor or even institutional ones as they look at all the data.
So allowing it to build up and then working with other major brands/entity in this space i.e. posh, splinterlands, or other groups/tribes. The reason I mentioned posh or splinterlands is it is he social media outreach and it is easier to explain HBD vs hive as if people aren't familiar with it can get a bit confusing, but since hive backed DOLLAR is in the name it can be more clear in terms of a marketing initiative. Also in terms of splinterlands they just have to do a big initiative like allowing discount to their next tier pack by accepting HBD and giving a 10-20% discount as they do for sps. (One way to incentivize Splinterlands into doing this is maybe a few Hive whales can get together and be like hey look if you allow HBD to get this discount in packs we will purchase 100k-200k-500k worth of packs collectively.) That I think is the most effective way to cause awareness and to provide utility and real understanding of the value it really has.
I for one am COMPLETELY bullish on HBD because I think Hive is here to stay after learning more about this platform and the fork from steem to hive. The very fact that Steem still exists even after everything that happens only showcases that hive will stick around til the end due to the foundations it has laid out.
Sorry for the tldr.
I just picked up my first bit of LUNA the other day. A bit sad that I had to pay $85 per token for it, but still glad that I am finally able to hold and stake some!
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With Ragnarok game it's getting more use case and this will certainly increase the demand for HBD.
Ragnarok and it's SIP mechanism is really making something great. The first time you will earn interest on the money you spent :')
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HBDs stability is prime Spotlight of Hive Blockchain. The 12% savings is not just great but also best in class, considering average savings of 7% in Banks and 10% average inflation worldwide. Its something actually symbol of potential of top stablecoin and Worth of Reliability. HBD is bound to rule them all...☺️👍
In crypto 12% is not a lot on stablecoins. There are much better alternatives
With HBD playing a key role in upcoming #ragnorak NFT game show, the scope is definatelly brighter....currently gaining a handsome returns of 12% is more like icing on the cake.....and seeing it grow to be a top stable coin is nothing like magic.....👍
Would be really nice to see HBD truly recognized as one of top stable coin. The 12% APR is great and our real selling point out there but more work needs to be done to make it truly stay pegged.
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The hive blockchain’s HBD isn’t just a stable but also one of the most valuable stable coins on the crypto sphere. The 12%apr is our selling points and is a big reasons investors are discovering our amazing blockchain. All thanks to those channels mentioning HBD.
No doubt HBD is going to become one of the trending coin to invest in with the interest been applied to it makes it even more awesome to be among the top 10 stable coin which I believe
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He said he's a HBD lover, at least 🤣
Uhm, I'd say 12% is actually a decent amount, I mean when you compare it to Fiat, and the economics built around it, it's a pretty alternative
HBD is something we all should look at. The stability is a topnotch. I thinking it's underrated in the blockchain but recently it has proven it worth and stability
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HBD stable coin is best for Emergency Fund and get guaranteed 12% interest. We can have more use cases in the future.
Not guaranteed, it's based on witness settings
As of now it's guaranteed, 12% interest rate. I know it will be changed according to the witness but still I am talking about now...
HBD is a kind of decentralised stable coin that is paying 12% Apr and surely a good option to hold in saving. With Ragnarok game it's getting more use case and this will certainly increase the demand for HBD.
Nowadays my pension-like income in real life is approximately $250 USD per month. Nowadays I live under the local minimum wage in Hungary. I currently have $866.244 HBD in savings. I received $4.336 HBD interest in the December of 2021. I am planning for long term (for years and for decades) with the Hive Dollars (HBD). This is a part of my plan to get out of the financial discrimination. This tells a lot about the success of HBD. I see it as one of the life-changing aspects of this platform.
Happy New Year.
Have a nice day. All the best. Greetings and much love from Hungary.
You are not alone, I became I retested in HBD after the interest went to 12%. More utilities of the HBD should attract more people to Hive
We're working towards building something really big. HBD desreves to be on the spotlight and with time it'll be one of the most valuable stable coins. I like the whole initiative and how HBD is growing, the 12% that comes with saving is great!!.. I can't stop bagging myself some HBD
I am very happy with how HBD is making progress within the community. However, it is necessary to make it a little more stable and better still at the 1 dollar value
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We don't have enough people using stable coins currently, ragnarok seems to be a good thing that will utlize HBD and make it have more volume potentially.
What's a great news for me seeing that HBD highly reorganize which we have known that it is a stable coin. The 12%ARP is a great one as well
I believe if more focus and effort is been put on HBD. it will be among the top 10 stablecoin. Time just matters
Let's try, we all hope so ! :)
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HBD is getting more attention because of increased Apr of 12% and even with upcoming Ragnarok game it will be used a lot. I am also starting to save more HBD that can help me earn decent earning.
No mater how it is stable coin can never be compared without any other thing just that one must not relex
Stable coin as no fear of devalue intact that is the best place to keep ur coin save. Without any cause for alaem
This is truly a nice idea here, if HBD becomes one of the top 10 stable coins, it will definitely help draw more attention to the hive blockchain.
That's probably one of the best way to give more attention on Hive Blockchain ! The stable price will not make people say "I should have come earlier, now it's too late to make benefits".
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I am seeing another one major stablecoin in HBD as time goes on.
If the mechanism of regulating the printing can keep going, then as time goes on we might see it in top 50
HBD's stability is the dream. I'm here for it.
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Ofcourse, HBD is a great stable coin to hold, being a algorithmic stable coin, its damn cool!!
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I think that the importance of pushing HBD cannot be understated and it is smart thinking to push this to the forefront of marketing for HIVE. Hive is beginning to look like a snowplough pushing all the innovations ahead of it and I have only been here a short time
always has been, I think it has the potential to become one of the great cryptos of the year if it keeps working in its community.
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A stable coin would be great for the overall economy of Hive and with a solid apy would attract alot of investors to stash their funds there
Their should be work on mechanism of HBD regularly and should be one of the stable coin, otherwise we have witnessed SBD which was and which unstable coin with high volatility. If they want to stabilise hbd should work on APR.
THANKS 👍
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I agree that for outsiders HBD might not be interesting at 12%, there are tons of platforms where you can stake stable coins and earn the same or more on a stable coin they actually use on a daily basis.
For them, it's easier to choose one of these stables over HBD because they don't use/know this one yet.
For us Hivers, this is a totally different story. I was already excited when the 10% APY popped up. Now that it's 12%, I set myself a goal to stake 2500 HBD by the end of the year as this is super appealing to me staking it here on my favourite platform where I earn most of my crypto anyway.
If at some point the APY will go up, even better, I can totally see how making this 15 to 20% would bring in a lot of new users.
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You're right @khaleelkazi HBD rock!
I've personally used them, by sending them through BlockTrades to my Binance Card, for food shopping when times were really tough with Covid19!
They literally saved me! ;)
A great post, reblogged too!
Have a lovely Sunday evening, Lee :)
!ALIVE
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@khaleelkazi! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @griega. (6/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
I have never really recognized the value of HBD until I started reading what Taskmaster4450 was saying about this amazing stable coin with an APR of 12%.
Currently, I have an aggressive Hive Power Goal of Dolphin by the end of the year, after that, I will set my rewards back to 50/50 and start saving up HBD.
Did not age well. UST as a stable coin was not a good decision.