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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