I apologize on behalf of all of us for not noticing HBD the first time we got in here. We had been so concerned about Hive and how much we could amass to become the next millionaires in our various countries. I am one person who had been around when Hive was doing the $3 magic in the market. I was new, but it was refreshing to know I am a part of something so mighty, that I couldn't even explain it to myself. Now, I am witnessing the Defi project, pHBD, that is targeted at solving the problem of liquidity.
See also: What are Hive Backed Dollars (HBD)? - Hive Backed Dollars Guide
I hope that my apologies will be accepted because now we are beginning to take note of HBD as a result of the 20% interest rate and the fact that HBD is being wrapped to the polygon network. And I must confess this is a very good step in the right direction for HIVE, HBD, LEO, POLYCUB, etc.
If we are beginning to pay attention, I hope the outside world will feel the buzz and pay attention too. That way when more HBD is in circulation and supplied, Hive price could turn a good turn.
pHBD is said to Solve the Liquidity Problem for HBD
I may not truly understand what liquidity is, and that's said with all amounts of sincerity. With each post I read, I keep explaining to myself what the meaning could be. But I can understand that pHBD is solving the liquidity problem to propel the mass adoption of Hive. Again, I understand that once liquidity is achieved, huge transactions can take place because of the trading volumes of HBD.
Why is pHBD trying to Solve the Liquidity Problem for HBD anyway?
It's worthy of note that once the 20% interest was pegged to HBD it had been almost difficult to access a large volume in the market. In a real sense, demand had been placed on HBD without providing a market to cater to the supply. If it was near impossible to get quite a large of HBD by the insiders what would be said about the world out there? Of course, one of the purposes by which the 20% increase had been created would be defeated.
The absence of liquidity would have certainly discouraged the folks who are interested in stable coins with good yields. We didn't need to look further for a solution. We already had an existing model that could benefit us in the longest run. By taking a good look at Anchor and how it has been able to help UST and Terra (LUNA) scale, the solution stared right at our faces.
What do pHBD and liquidity have to do with you?
To help us move beyond the borders of the lack, we have been urged by the Leofinance team to be a part of the HBD goal. The goal is to create a $5m+ liquidity pair for HBD, to enact the largest liquidity for our HBD.
See also: how to wrap HBD to pHBD
Interestingly, the APY for joining this liquidity pool is high. The pHBD-USDC pool is open to everyone and at the same time, there is a 1% slippage for entrance and exiting of the HBD position. Enough HBD is required to flow into the pHBD-USDC pair which is why you are called upon to join the liquidity pool.
See also: How to Bridge and Farm pHBD-USDC at 77% APY on PolyCUB
Apart from the success of the $5m+ liquidity pair for HBD, the team is positive that this movement will bring more eyes to Hive as a whole. The adoption of our native tokens is a few positive actions away. If we put in our support by joining the pool, we are propelling the mass adoption we've all been dreaming about.
Related readings:
• Why HBD is Vital For the Mass Adoption of the Hive Ecosystem | Tell a Friend, Win $100 HBD!
• Leomarkettalk Joining pHBD-USDC
• pHBD-USDC is Now Live! | HBD is About to Get a $5,000,000 Liquidity Pool
• POLYCUB: The Ultimate Defi leading the way to Defi 2.0
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Posted Using LeoFinance Beta
Thank you for apologizing on our behalf oo 😅 because I also do not take notice of hbd and counted it as nothing compared to Hive which made me focus more on it by converting all my hbd to hive.
I believe with this liquidity stuff, there would be more exposure to Hive by people and it would turn out great in the long run.
Hahaha.... I had to apologize too. For some of us especially the newbies have no idea how important HBD is.
In short, I think we are underestimating a lot of things in this space.
But I am positive we will understand it, small, small 🥺
Abi, small small, we go understand so we don't kill this brain wanting to know all at once 😅
We are going to get it solved. It will just take some time.
Give it a couple months and we could have a very strong liquidity pool.
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As with everything time is our best bet
I am betting we will too.
What PHBD-USDC LP farm on PolyCUB does is that it provides investors an opportunity to buy large stake of HBD as the hive internal market or exchanges can't do.
Many that play the stablecoin game, who intended buying a huge chunk of HBD couldn't because you can only get about $100 worth of HBD at a time.
So imagine if I had $1k, I'd have to buy about 10x to exhaust my $1k.
Providing liquidity for pHBD with HBD is to enable whales and those with deep pockets to buy HBD and with more HBD at hand, it creates awareness about Hive...
HBD stabilizer buys and sells HBD and Hive to keep HBD price stable, it inversely helps hive price.
It's certain hive price would make that good turn.
We came here with the intention to blog and earn, now we are learning about the blockchain and its mechanics.
Which means we will have more HBD to go around especially for those with big pockets to invest.
Thanks alot for explaining further. I appreciate sir.
Yeah, there would be.
That's actually what we want more HBD in hands.
Thanks for your contribution and no sir here...
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Ultimately the goal I believe is to make pHBD be the #1 route to trade and accumulate a position in Hive-Backed Dollars .
That's the goal fella. And I am glad to be a part of the fulfilling that goal.
Nicely explained
I appreciate this post because I am still yet to understand the whole space
You are welcome