HiveEngine Tokens: Anticipating Where The Future Money Hype Will Be
Currently we are all focused on the Layer 1 base coin of the Hive blockchain which is the Hive coin. But that doesn’t mean that we have forgotten about the Layer 2 tokens. We still have tribes working so hard to make sure that their tribe token gets as much exposure, value and importance as the Hive coin. We have tribe tokens from the Leofinance tribe, the Splinterlands, some of the play to earns on Hive and others that I may not know about. We currently have the larynx token from the SPK Network, whose utility I have not explored for some lazy reasons.
Innovations are happening in crypto and Hive is not exempted, we might not be seeing the value in the token price but my advise is catch them young. Problem is layer 1 scalability is something I don’t think the Hive blockchain will experience because, Hive is way ahead it’s time. Who knows? I’m just saying this because the amount of usage on the blockchain is not much yet.
Being a base blockchain network, lots of projects will get built on it and that’s going to cause a new money hype flooding into the blockchain. But the beauty of Hive is, transaction fee is free so people don’t have to complain about transaction fee unlike some other blockchains, except when withdrawing or depositing Hive from or into the Hive engine wallet. That’s where you see the cost of converting Hive to Swap.Hive and vice versa, we have seen differences in transaction fees from different means. Some charge 0.25% while some charge 0.75%. Which is really a very minute amount but who knows? It won’t be considered minute when you start making transactions worth over hundreds of thousands of dollars.
Currently, transfer of Hiveengine tokens is only within the blockchain, we can’t transfer Hiveengine tokens outside the Hive blockchain, except we bridge it like the Leofinance team has done with leobridge. You can conveniently have a bleo (BNB SmartChain) the WLEO (Ethereum Blockchain) and the pLeo (Polygon Blockchain) tokens on your Metamask wallet. I’m very sure that with time we will be having them on exchanges giving us the opportunity of trading them conveniently.
The Leo token is one Hive engine token that I am sure will have a massive money hype in the future. There was a time the value of leo token was more than 5X higher than that of Hive, this means that there was a massive money hype on Leo token. Currently Leo is creating its own universe such that sometimes I wonder, all Leo needs is its own blockchain and voila its a beast on it’s own. But then there can’t be Leo without Hive, that’s its parent home and blockchain.
The splinterlands DEC and SPT token is another layer 2 token that is going to have a massive money hype in the future. This is why I am glad I have been stacking my DEC token gotten from renting my cards. I haven’t been active on splinterlands for a long time now, renting my cards out is the best way I can earn DEC tokens without being active or playing the game. The SPT token is the reward token for the social media platform for splinterlands, where you blog about splinterlands and earn SPT.
We have lots of tokens a bunch of them that I don’t know about. If you check the list of tokens on the Hiveengine site you will see them. There is a community behind those tokens and we know that community drives value, it’s just a matter of time before the money hype will start flooding these tokens. These tokens are not centralized, they are decentralized and can be mined by a proof of brain and proof of stake mechanism where contents get rewarded. The rewards get to both the content creators and the authors. You can’t get these tokens without going through the hive blockchain, so this means that a win for these tokens is also a win for the Hive tokens.
This is just my 1 cent on the Hive engine tokens and where the future money flow might be. Your comments will be appreciated.