pHBD-USDC Liquidity Pool - Making the longest-standing algo-stablecoin more Attractive
Hive Based Dollars (HBD) is inarguably the longest-standing algo-stablecoin and it's built on one of the most powerful, scalable and fast blockchain. Over the years, the adoption of HBD has been hindered by its low liquidity in exchanges making it difficult to buy a good chunk of it at a time.
Year 2022 opens up as a great year for Hive mass adoption. This year has been characterized by net-breaking developments at the main chain and second layer respectively. Very crucial among he developments has been the increase of HBD savings interest rate from 2% to 20% APY by the Hive witnesses and was swiftly followed by the epic creation of pHBD on Polygon blockchain as well as pHBD-USDC liquidity pool which will provide a deep liquidity market for the underutilized and undervalued stablecoin.
Already, it is interesting to see that within the first 24 hours of creating the pHBD-USDC liquidity pool, more than 2x of the 24 hour trading volume of $HBD on centralized exchanges has been achieved.
$pHBD did about $13,600 in trading volume during the first 24 hours it went live. This is more than 2x the 24 hour trading volume of $HBD on centralized exchanges Tweet
This shows the beginning of an upward trend in the trading of HBD to garner either 20% Savings APY on Hive blockchain or over 70% LP APY on PolyCUB.
pHBD will Drive Mass Adoption to Hive
This LeoFinance's epic liquidity vault is likely to be the most valuable liquidity pool on PolyCUB and has the capacity to improve the lots about PolyCUB. In today's update, it is beautiful to see that as much as $238k worth of pHBD-USDC liquidity has been pooled by Hive users and that already has created a robust market for HBD to cater for some smaller transactions around $500 to $1000.
The pool is currently $238k which allows some smaller TXs around $500-$1000 to be pushed through with minimal slippage. More liquidity will allow a lot more DeFi users to leg-into an HBD position.
Building deep liquidity for HBD is an incredible development for the future adoption of the Hive ecosystem. It is a great solution for Hive and we're opening up for the entrance of DeFi whales. Indeed, the Hive blockchain is coming from obscurity to limelight with this singular development.
It is true that every added enrolment to Hive adds value to Hive as a cryptocurrency and also adds value to the several communities building on Hive. It wouldn't be out of place to estimate that in 2022, Hive may be making a new ATH record of $5. This will be possible as more DeFi whales buy into pHBD and unwrap to HBD, they'll have to purchase some Hive to also take advantage of the 20% Savings APY which is one of the best returns for a stablecoin in the pedigree of HBD.
pHBD will Speed up the growth of $POLYCUB
Its no more news that the true value of $POLYCUB is $5 and more. The present $0.3 is only correctional as the emission of the POLYCUB airdrop levels out. With the increased utility that is daily added to PolyCUB, the demand for POLYCUB and staking of xPOLYCUB increases.
More interesting is the fact that PolyCUB plans to buy off $POLYCUB from the market from the revenue generated from trading fees and vault fees. With only $7 million POLYCUB that will ever exist, we all agree that POLYCUB is a scarce DeFi asset and $0.3 can only be a bottom price for a novel yield optimizing DeFi with multiple utilities.
The pHBD-USDC liquidity pool is reportedly the most valuable vault for the #PolyCub platform because it generates (1) Wrap revenue, and (2) 2. Arbitrage revenue. This was contained in a recent Tweet by @LeoFinance. This implies that as we look forward to $5 million worth of liquidity pool for pHBD, the wrapping and unwrapping of HBD will generate thousands of $$ for POLYCUB buy backs.
In the coming weeks, we see the value of $POLYCUB begin to accelerate, Hopefully FOMO sets in and things skyrockets. This is one reason you should invest in POLYCUB by providing huge liquidity to the pHBD-USDC pool.
Final Thoughts
The cryptocurrency market is well known for high volatility of asset. While this can be very lucrative on the positive side, it can also be so disheartening of a negative market trend occurs. As such, the edge cryptocurrency will have over traditional finance industry is the improvement around stablecoins in a way that is highly profitable while also giving the investor peace of mind while waiting for the full term of the investment. HBD savings at constant 20% interest and a long term pHBD LP reward at a constant 30% is epic.
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!
What is LeoFinance?
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Join Hive Here and start a new work!
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.
Let's connect on Twitter