As time goes by, people are starting to understand the benefits of decentralized and web 3 based platforms. Because there was a time when people were enslaved. However, with time, people are trying to get out of that chain and become independent. Similarly, in the present time, people are moving away from centralized systems and towards decentralized platforms. One of the reasons for this is freedom and convenience.
For example, #Hive Ecosystem is one of the examples. Which is different from other centralized systems and removes the barriers there. One of the stablecoins of Hive Ecosystem is $HBD (known as Hive Backed Dollar). Decentralized stablecoin $HBD is mainly based on #Hive Blockchain technology, which makes transactions verifiable and transparent.
$HBD is a decentralized stablecoin whose main advantage is that it provides stable value. It is mainly pegged to US fiat currency. One of its advantages is that it makes it suitable for transactions and payments without volatility. It is a stablecoin of the Web 3-based and decentralized ecosystem Hive. It is a stablecoin that is usually pegged to the US fiat currency USD, which helps to keep its value stable. As a result, those of us who use this stablecoin can transact without the risk of our cryptocurrency holdings declining in value and we can trade it at any time on the internal markets within Hive.
If you review the candles of HBD in the past, you will see how it has maintained its stability. It has become one of the examples of Web 3 and decentralized stablecoins in the present. You can trade it anytime in the internal markets. Another advantage of this is that it does not require any KYC. The most important thing is that it is absolutely transaction free when you trade. Which is the most important and one of the advantages. If you trade conventional stablecoins, then you have to pay a certain amount of money as a fee. But you can trade this decentralized stablecoin absolutely free.
It can be used by anyone without the restrictions of banks or financial institutions. This is especially important for those who cannot access the conventional financial system.
This is an important step, especially for @hive-echo , to expand Hive into "X". Because through a post on "X", Bruce Fenon wanted to know about a stablecoin that has all the qualities and benefits of the stablecoin HBD that we all love.