Hive Backed Dollar - The Most Stable Stablecoin

hitmeasap in #hive-167922 • 3 years ago

Why Hive Backed Dollars?

Hive blockchain has the most stable stablecoin, recently crossing two full years of being stable during both bear- and bull markets, while offering the highest interest rate of 20% APR.

Hive Backed Dollar (HBD) is designed to hold a $1 USD value in the most decentralized way, benefiting from free and lightning-fast transactions on the blockchain. The current annual rate of 20% makes HBD Savings the most promising, lucrative, and secure option for people who’re looking for the best way to earn interest on crypto.

Nothing beats Hive Backed Dollars.

Hive Backed Dollars on Coinmarketcap

While other Stablecoins have completely crashed or gone up and down in price on many different occasions, HBD has stood firm at or close to $1 for more than two years. Hive Backed Dollars were not affected by the recent crypto crash. TerraUSD fell to $0.4 and HBD was- and still is stable at $1 USD value without moving much, regardless of what happens with the rest of the market.

HBD is a fully decentralized stablecoin pegged to USD, with an industry-leading APR of 20%, is also integrated into a large ecosystem of Dapps. That makes Hive Backed Dollar (HBD) the most stable stablecoin there is.

You have total control over your asset, a 3-Day withdrawal period, APR of 20%, and don’t have to sell your investment in a panic because the market is moving like crazy.

You are safe with Hive Backed Dollars.

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#hive #leofinance #interest #hbd #apr #interest-on-crypto #hive-backed-dollar #savings #hbd-savings #neoxian #vyb

3 years ago in #hive-167922 by hitmeasap

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littlebee4 3 years ago

Well said @hitmasap

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hitmeasap 3 years ago

Well, it's just the truth. :)

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littlebee4 3 years ago

Sometimes it just needs to be said and out in the open 😉
So that others will realise.

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tokenizedsociety 3 years ago

HBD is holding strong!

Let's go!

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young-boss-karin 3 years ago

We could call it "the most stable unstable stablecoin". Haven stayed at 0.9 in these reds, that's a big win.

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metzli 3 years ago

I am liking being an HBD holder

I was very happy that it held its peg.

USDT lol, did you stack up on that?

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sumit71428 3 years ago

I really wish that hbd would stay on our trust as it is really very important for the future of hive and everyone associated with it.

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poshtoken 3 years ago

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whatsup 3 years ago

Well, safe is a strong word, but I do have quite a bit of faith in HBD now, and I have to say I wasn't a fan of the pegging attempts. I was wrong.

Safe is going to far though Also it isn't stress tested in haircut zone, but it's doing quite nicely now!

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xplosive 3 years ago

I would say relatively safe. Hive Dollars (HBD) is swinging a little bit, but not much. In the previous 24 hours its lowest value was $0.8264 USD. The highest was $1.02 USD. The current is $0.9106 USD.

jfang003 3 years ago

The price lately has been the best reason why I have faith in it but I still think HBD needs more use cases as a payment method. Besides ragnarok and maybe that other gamblign site, I haven't seen much use for it.

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hitmeasap 3 years ago

Yeah, safe is a strong word, but that's also what I'm going for. :D

You have a good point of not being stress tested, but it's still awesome to see HBD at ~$1 while the rest of the market is a total shitshow. Especially when HBD has been staying strong for two years.

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l337m45732 3 years ago

The simple fact is that HBD is backed by HIVE, which is backed by an entire ecosystem of content on the blockchain. I don't think it's anywhere near as fragile as these algorithmic stable coins that are getting rekt.

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brando28 3 years ago

But HBD is an algorithmic stable coin. I'd like to learn more about the mechanics that makes it different to UST?

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metzli 3 years ago

I like HIVE because usually it doesn't follow the other bloodbath cycled.

But its ok.

We see it build back up, and each time there is a bear I see more and more of the "core" community sticking around and continuing to BUIDL.

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jfang003 3 years ago

While I agree being backed by Hive is good and I don't think we will have a death spiral, it doesn't change the fact that having more HBD could be a threat. Of course, I think the development team is thinking about these issues and putting in solutions.

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ifarmgirl 3 years ago

HBD is holding quite well, withstanding the test of time and of the harsh market. Like TM said, it's an oasis in the sea of red.

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metzli 3 years ago

And still paying 20%

So nice :)

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ifarmgirl 3 years ago

That's right. What gets better than that :)

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travelwritemoney 3 years ago

I think the stability is largely due to the hbd stabilizer. However, I also think it's the result of most of us recognizing a bargain when the price dips. The Hive community shores up the price

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metzli 3 years ago

So you think the peg lies in the power of the community?

That is both super cool - and kinda scary.

you are right though, I watch the price and though I havent bought any "on sale" HBD I still look out for it.

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travelwritemoney 3 years ago

I think so. It’s easy money. If HBD dips too much, it’s a good buy. As a community, we are quick to get the word out. Being a communication blockchain has an advantage.

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metzli 3 years ago

Makes me want to have constant buy orders.

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jfang003 3 years ago

I don't really know if the stabilizer would be the reason why. I do think it contributes but I think the pHBD/USDC pool is another reason. The chance to arbitrage HBD has added a lot of value to it.

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jfang003 3 years ago

I think it's safer than Terra but I still think there are things that could go wrong. I know the haircut, arbitrage, and stabilizer does a good job of keeping the peg. However, I do think adding in some more safety measures wouldn't be bad. For example, push people more into the internal market and add a 5% fee for HBD -> Hive conversions.

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brando28 3 years ago

What is the mechanism that prevents what happened to UST happening to HBD?

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