$HBD saved me from $UST

mistakili in #hive-167922 • 2 years ago

Firstly, my heart goes out to everyone who was affected in the crash of UST.

The Best Way To Earn Interest On Crypto while avoiding volatility is through Stable coins. There are several options out there offering different interest rates on staking them but my go to algorithmic stable coin is the HBD(Hive Backed Dollars).

Here’s how HBD saved me from UST. If you are very deep into crypto, chances are you owned some UST as you must have been preparing for a bear market or were simply converting a portion of your volatile assets into stables,....(this was typically me).

....combined with the offer of 20% APR on Anchor through staking UST, which on a surface level, it’s the smart thing to do, especially after seeing how risk free Anchor/UST was portrayed to be.

Why HBD?

So why didn’t I? My choice of algo stable coin has been HBD for the longest time, because I’ve understood it to an extent, more than any other algo stable coin out there and I was willing to bet on it given its inconsistencies.

If HBD wasn’t available, you can bet 90% chance I would have been saving in UST. The availability of HBD deterred me from going the UST way even when the correct thing an average investor will do is just that as UST offered 20% interest rate for staking on Anchor, while HBD staking was 12%.

However, what I didn’t know about UST, I knew about HBD. For example, the death spiral theory.
HBD has long improved the checks and balances to avoid a death spiral with fail safes like
• 3 day lock conversion period,
• HBD stabilizer,
• 10-20% haircut on debt level

Funny thing is when I started to save in HBD a lot of these things didn’t make sense till recent occurrences.

source

Sustainable 20% APR

Most importantly, the utility of Hive token itself is not the type to be dumped on the market out of panic selling or whatever. Hive token is serious business for businesses and individuals on chain.
Moreover, just recently, HBD’s savings apr was increased to 20%, I couldn’t ask for any better! And so, I went all in.

HBD can also be paired with USDC on Polycub for 35% APR at the time of writing this post. HBD is super cool on so many levels, it’s not perfect, it’s infact stablish but it’s not going away anytime soon.

Thanks for reading

Posted Using LeoFinance ^Beta

#beststablecoin #hbd #proofofbrain #ctp #vyb #cryptocurrency #leofinance

2 years ago in #hive-167922 by mistakili

25.46 VYB

Sort:

Trending

[-]

dwayne16 2 years ago

Hbd offer the best apy on stables at moment and one of the reason why many hive user is not involved in ust is because of amazing returns of hbd

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

mistakili 2 years ago

Yeah bro, many of Hivers have a better understanding of Hbd than UST, moreover, the witnesses did us a solid one by increasing apr to 20% making it attractive to hive holders so no need to leave the hive ecosystem in search of high apr.

0.00 VYB

[-]

dwayne16 2 years ago

Yes the witness did us good on that I must say.

Posted using LeoFinance Mobile

0.00 VYB

[-]

lebah 2 years ago

HBD is prooved to be a strong stable coin in bear market.

0.00 VYB

[-]

mistakili 2 years ago

Getting better by the day actually

Posted using LeoFinance Mobile

0.00 VYB

[-]

mypathtofire 2 years ago

There were a few red flags about UST if anyone cared to look.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

mistakili 2 years ago

But literally everybody were doing it. (A typical scenario of because everybody is doing it doesn’t make it right!)

If I cared I wouldn’t even know where to look. Likewise majority. Whitepaper maybe...🤷

0.00 VYB

[-]

mypathtofire 2 years ago

We would need to ask some OG's

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

luizeba 2 years ago

!1UP

0.00 VYB

[-]

mistakili 2 years ago

Merci 🙏

0.00 VYB

[-]

nevies 2 years ago

Well, I've read a couple of posts about HBD today and this is a great testimony. Good for you. Hbd is currently very successful at playing the game, I hope it reigns like this forever 🥂.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

cflclosers 2 years ago

Im so entrenched in the hive ecosystem that while I had heard of luna, I didn't really know what it was. But every once in awhile I jump into a coin on a whim but since I always lose, I pretty much stopped that behavior. I don't think I would have found my way into UST but being a hive maxi could cost me other opportunities of things that would have worked out too.

Posted Using LeoFinance ^Beta

0.01 VYB

2 votes

[-]

mistakili 2 years ago

Im so entrenched in the hive ecosystem that while I had heard of luna, I didn't really know what it was.

Same here, I have a thing for chains that I can use as part of my normal daily routine. Only Hive gives me that mostly, so even when I heard about Luna, it was like,....okay....what can I do with it? But There wasn’t a lot.

So I bought 1 Luna at $80 because mint and burn mechanics with proper fail safes is actually a very good recipe for successful token especially when that token has utility that gives it demand, is maybe deflationary, etc.

I actually assumed that there were enough well thought out fail safes for UST seeing the growth in such little time. I’m sure many did too based on this a as alone.

So anyway last I checked, my 1luna disappeared from my Binance wallet due to the maintenance bla bla. I’m sure by the time we get it back, it’ll have been dumped to oblivion....I’ll love to be wrong lol.

being a hive maxi could cost me other opportunities of things that would have worked out too.

I know right.

At this point, being a Hive maxi really is a safer option. But I get what you mean.

Posted using LeoFinance Mobile

0.00 VYB

[-]

cflclosers 2 years ago

the losses hurt more then wins feel good for me. I figure there is so much out there that I have to stick within hive to benefit. It takes me a long time to learn about new things within hive that it will keep me busy. I've been doing curation all wrong and Im heading into my 5 anniversary on chain lol. I'm just going to get better at hive and forget the others.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

poshtoken 2 years ago

_{The rewards earned on this comment will go directly to the people(@leoalpha) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.}

0.00 VYB

[-]

rehan12 2 years ago

Tbh saw many people loose their funds in this mashap of UST and Luna phase. Thank Almighty I was more into USDC (in terms of hodling stable) or else things would have been a lot different now lol.
But I have been saving up in stable coins and lately adding up HBD as well.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

mistakili 2 years ago

Thanks be to Almighty bro. Many of us on hive were saved from UST because of the availability of hbd.

Have you been using your usdc to farm apr anywhere?

0.00 VYB

[-]

reeta0119 2 years ago

It's really sad for those who lost money in UST but HBD is definitely the best one to hold without worry. Earning 20% apr on the savings is something that makes it more attractive. Nice article my friend.

0.01 VYB

2 votes

[-]

enison1 2 years ago

Thanks Reeta.

I’m really glad about the availability of HBD, I’m grateful the devs took the time to work on it all along.

Posted Using LeoFinance ^Beta

0.00 VYB

[-]

typebox 2 years ago

I’m glad you made the right choice by investing in the Hbd . It’s paying off in the long run as we can all see . Calculated risk taking is what the blockchain technology seems to be about , the earlier we players in the cryptosphere are able to realize that the better . Hbd’s potentials are so surreal on many levels . With the many updates and development witnessed on this decentralized blockchain platform (Hive) it is quite evident it’s hell bent on making passive income building sustainable in all ramifications.

0.00 VYB

[-]

mistakili 2 years ago

It is interesting how we might soon start to see others take a cue from HBD.

It’s not even just about passive income, it’s the ability to create abundance, being the chain of abundance.

Posted using LeoFinance Mobile

0.00 VYB

[-]

curation-cartel 2 years ago

	You have received a 1UP from @luizeba! The following @oneup-cartel family members will soon upvote your post: `@leo-curator, @ctp-curator, @vyb-curator, @pob-curator` And they will bring !PIZZA 🍕

^{Learn more about our delegation service to earn daily rewards. Join the family on Discord.}

0.00 VYB

[-]

hivebuzz 2 years ago

Congratulations @mistakili! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You received more than 120000 upvotes.
Your next target is to reach 130000 upvotes.

_{You can view your badges on your board and compare yourself to others in the Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

Check out the last post from @hivebuzz:

Hive Power Up Day - June 1st 2022

0.00 VYB

$HBD saved me from $UST

Why HBD?

Sustainable 20% APR

You have received a 1UP from @luizeba!