Good morning everyone I trust you're having a wonderful day or evening depending on what side of this rock your on. I've been doing alot of reading lately as I'm sure you all are in the hopes of finding the next big thing. Through my reading I've noticed a few trends emerge and I think I've found one that would be beneficial for the Hive ecosystem.
We've seen the ability of gaming significantly increae the value of Hive with Splinterlands and the soon to be released MuTerra which has pack opening today.
Splinterlands launch of SPS was a significant turning point for the Hive Block Chain and saw an increase of accounts created and investment from outside the block chain. No doubt MuTerra will have a similar impact.
Did you know that Hive also has it's own NFT systems and NFT marketplace? Yup NFTShowroom is for all things Hive NFT related, you can set up a portfolio and sell NFTs for Hive right here on our block chain.
However, the brunt of the NFT craze has surrounded Ethereum and it is where the majority of NFTs live. But that's not my idea, I have something a little different.
The world is currently looking for cryptocurrency incorporation into purchasing. There was talk about CBDC's but that is an extremely unlikely turn of events.
Given the costs involved in establishing them and the work in regards to maintain their pegs it would cost a significant amount of resources to get one up and running.
Not to mention there are already a number of successful stable coins already established by the private sector. It is far easier to prop up and work with the private sector that already has a stable coin functioning.
Which Stable coin will be selected?
By now, if you can't see which Stable coin is going to be incorporated into everyday use you're probably living under a rock.
USDC has been constantly shilled by all the major financial institutions across the globe. It is also the second largest used stable coin available on a number of block chains. It is the favourite. Given its resources and investments that keep it pegged it is also one of the safest.
No doubt that USDC will be the Chosen one
So what's my idea?
Defi has been a successful project across multiple block chains. They are also bad at pump and dumps. But did you know Hive has its own form of Decentralised Finance if you put HBD into savings you get 10% ROI. That is far greater than any bank will give you.
That 10% is paid in Hive which, unfortunately for many also creates a capital gains tax event. However, many countries around the world have a clause in crypto that if you're using digital funds as funds such as for purchasing than you escape capital gains taxes.
In Australia if I purchase crypto to make a payment I pay $0 tax. Although there is a tax for earning digital currency it is alot lower than CGT.
So what if Hive enabled staking of various tokens that paid divs out in USDC which could than be used to purchase goods and services. In the coming months I have no doubt that USDC will become legal tender and this would be a step ahead of the game.
The 10% inflation could be used to sell for USDC that is paid into peoples wallets and then they could go shopping. More Hive staked, more USDC you get just like every other Decentralised finance project. Except nothing ridiculous like 12000% APY. Amounts like that are unsustainable.
What leads me to this view? An interesting article was published today which indicates that USDC is here to stay and become mainstream. You can read the article Here
In order to remain a head of the game it is important to keep upto date with emerging changes and provide the services people will need. 10% is a huge ROI given fiat interest rates at current globally are in single digits.
Institutional investors will be looking for projects to grow and retain their wealth. The question is, do we have enough Hive? I guess that's the benefit of tokens, the more people buy in, the higher the token value grows boosting the economy.
What are your thoughts? I think this could work and work well.
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