HBD should be listed on more exchanges with more usecase

By Bala | Bala | 5 May 2022


I feel a little happy while looking at the price of HBD. In spite of the huge market fluctuation and red market, HBD is still very strong and has stayed stable. The same thing happened in the previous bear market as well. Many people thought that this was the bull market but the market is holding strong and there was also a decent increase in the price of some cryptocurrencies.

HBD is a good stable coin that is already being used for good tradings and exchanges against Hive. In spite of that HBD also got popular recently after the APR percentage was increased from 12% to 20 percent. I wish this becomes big news and we get more investors on Hive. Liquidity is one of the biggest challenges when it comes to HBD. Even though HBD in savings looks like an attractive option, people can get HBD only through a few sources. Below are some of the sources:

Internal market

In the internal market, HBD is traded against Hive but the biggest problem is liquidity. People who would like to convert their Hive to HBD can use the internal market. There is also another option available on-chain for converting Hive to HBD. This process usually takes 3.5 days to get converted. The internal market is the best place to also do some quick trading. People who can predict the price of Hive can make use of the internal market to do some trading.

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I would consider Hive Engine also as an internal market because the pair available for HBD there is only SWAP.Hive: HBD. This is more like an internal market only but just that it is available on Hive Engine. Some people might say that Hive Engine is like an exchange but I wouldn't think it that way.

External exchanges

The external exchanges are the places where the coin is usually pegged with other real-world coins and the actual trading happens. This explores a new possibility where the coin brings opportunities from other coins. We don't have any place where HBD is paired against USDT or another stable coin yet. If that happens, it will be so cool. But I'm glad that it is at least paired against BTC on the Bittrex exchange. This gives an opportunity to trade based on the price fluctuations of Bitcoin. I wish there are more exchange listings in the future.

Usecases for HBD are also limited right now. We have a pretty solid use case where people can keep it in savings and get a 20% APR from it. This keeps some funds away from liquidity creating an opportunity to increase the value of Hive. But we need some more strong use cases to actually make HBD a recognizable stable coin to have visibility across multiple chains. Hopefully, this is something that can happen in the near future. Let's believe it that way.


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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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