Months ago, I had published a post that in the sooniverse, the entire cryptoVerse would come to converge on Hive and we're seeing this play put on daily basis. Communities on Hive are rising up their responsibilities top bringing the masses to Hive through their products, services and offerings. Leading this list are @LeoFinance @Splinterlands @Actifit @CTPtalk who are expanding the reaches of Hive by bridging Hive and Hive-native assets to other blockchains.
We'll all agree that the revolution of tokenized communities on Hive came as a result of a successful launch of hive-engine protocol to serve as the second layer of Hive where most of the community assets are created and operated. Moving further, @LeoFinance has deepened the functionalities of hive-engine assets with its successful development of its own DEX "LeoDex" and successful wrap of LEO to Ethereum (wLEO), Binance Smart Chain (bLEO) and Polygon blockchain (pLEO). In a few hours, collaborating with @Splinterlands would launch pSPS on the Polygon blockchain.
The need to Solidify our Root
While spreading to other blockchains are essential at this time and would lead to mass adoption, it is important that we strengthen the cords within and build the home chain where these massive development erupted from. Hive remains a home and hive-engine remains the power house where the journey all started.
Over the years, hive-engine has evolved in its development into a nearly decentralized layer with witnesses in place and this assures users more of the safety of our funds since we all hold our keys and would authenticate every transaction before it happens on our wallets. The further expansion to TrialDex gives more power to Hive's second layer with the introduction of NFTs and DeFi (Dieselpools).
One of the very lofty creations of hive-engine that would lead Hive to mass adoption and converge every crypto user down here is the introduction of pegged tokens. Pegged tokens are tokens on Hive Engine that are backed one-to-one by a token on another blockchain or potentially by a real world asset such as USD or gold.
With pegged token infrastructure in place, our Hive account also holds BTC, LTC, BNB, EOS and many other leading cryptocurrencies native to other blockchains. As at the time of this post, over 41 pegged tokens are listed on Hive-engine.
This means that at any time users can deposit any of the supported tokens and receive the pegged versions which can then be transferred or traded for other Hive Engine tokens on the Hive Engine decentralized market. Users can also withdraw the pegged tokens back out to the real version at any time. source
Today, 10 of the pegged tokens record at least $200 trading volume and as high as $15k 24-hr volume, viz:
- LTC (15.02k volume-24hr)
- BTC (7.30k volume-24hr)
- ETH (3.19k volume-24hr)
- WAX (2.81k volume-24hr)
- BLURT (1.71k volume-24hr)
- BNB (1.52k volume-24hr)
- DOGE (1.36k volume-24hr)
- BUSD (1.29k volume-24hr)
- USDT (0.443k volume-24hr)
- MATIC (0.218k volume-24hr)
- HBD (0.209k volume-24hr)
- EOS(0.035k volume-24hr)
- STEEM (0.021k volume-24hr)
When SWAP.POLYCUB?
At this juncture, with the growth of daily trading volumes of pegged tokens on hive-engine, it is high time we have SWAP.POLYCUB running on hive-engine with sufficient supply. My smooth participation in PolyCUB and CUBDeFi has been motivated by the ability to fund my Metamask wallet with MATIC (SWAP.MATIC) and BNB (SWAP.BNB) from my HIVE and LEO holdings.
The process is simple, I trade my Hive for SWWAP.BNB and SWAP.MATIC on dieselpool and and withdraw it within splits of seconds and they are funded to my metamask wallet. I know other Hivers do same and it's seamless.
Getting POLYCUB listed on hive-engine would enable its trading on LEODEX and it comes with a lot of benefits to @LeoFinance, PolyCUB investors and Hive users.
Four (4) Reasons why SWAP.POLYCUB should be on LeoDex/Hive-engine
I am one hive user with a high profile use of hive-engine/LeoDex. This happens because I have grown on Hive courtesy od my second layer assets and investments.
I am sure that the listing of POLYCUB on hive-engine would come with great benefits I enlist below:
Added markets for Trading POLYCUB: SWAP.POLYCUB listed on hive-engine would now be a peg of POLYCUB on Polygon blockchain. This would add hive-engine and leodex as the DEXes trading POLYCUB. Sure, the daily trades of POLYCUB in Hive would be massive.
Increase 24h trading Volume for POLYCUB: I anticipate a 24h trading volume for POLYCUB to reach $5,000 on Hive-engine/LeoDex which is about half of what is obtainable on Polygon.
- Increase LeoAds Revenue via leoDex frontend: LeoDex is one of the LEO frontends where ads revenue are generated. With SWAP.POLYCUB, there would be an added use of LeoDex which would increase the ads impression. This would in turn increase LeoAds revenue and possibly, increase staking rewards for LEO stakeholders.
- Ease the adoption of POLYCUB by Hive users: B y my estimation, less than 10% of Hive users are participating in PolyCUB not because it is not a beautiful project, but because many may not be acquainted with the Polygon blockchain. Starting off to stack POLYCUB from Hive and LEO earnings would be easier done at the instance of LEODEX.
Final Thoughts
POLYCUB is a really scarce DeFi asset and coming from LeoFinance should be an advantage for Hive users. Let's help every Hive user get closer to the PolyCUB project with the listing of SWAP.POLYCUB.
Learn more about POLYCUB - the Best Sustainable DeFi?
These posts would be of benefit in explaining more on the DeFi 2.0 pioneered in PolyCUB and how it plays out as a game-changer in the DeFi space, optimizing yield and serving long term decent profits to investors. They are:
- Why Would Anyone Buy POLYCUB 1 Year From Now?
- Introducing the PolyCUB Roadmap | xPOLYCUB, Bonding and Collateralized Lending
- PolyCUB | Emissions "Halvening" In 2 Hours and the Future of Sustainable DeFi Through Utility AND Scarcity
- Bitcoin Moguls now know and demand PolyCUB
Make your money work for you on POLYCUB - PolyCUB is the best DeFi lending platform in 2022
Are you yet a part of this fast evolving change in the cryptocurrency industry. The earlier the better!
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What is Hive?
Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading Web3 blockchains used by people around the world. source
About me...
I am a called teacher, a serial entrepreneur and a Graduate of Agricultural Engineering. Nigeria is my root and a place full of opportunities. I dropped out of a Master's Degree program due to funds, yet I do not regret growing the courage to start my business from the scratch. Today, I've built layers of Businesses on the Hive blockchain in terms of Curation and it's a sustainable passive way of earning crypto while learning.
I am your favourite Hive Tribes Promoter and Curapreneur!
I am @Uyobong.
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