Binance hasn't listed anything this year - List Hive Backed Dollars (HBD)
Direct from the desk of Dane Williams.
Come on CZ, do the right thing and list HBD on Binance.
Have you seen the latest Tweet from our old friend CZ?
That’s CZ waving his marketing magic wand by teasing a Binance listing.
checks replies…
And yep, receiving an absolutely banging engagement rate in the process.
Holy shit, you certainly can’t say that the man doesn’t know what he’s doing in that regard.
THE Hive community
But hey, we’re Hive.
You may have heard of us?
We’re one of the biggest, most diverse decentralised crypto communities online.
Not to mention we wrote the blueprint to surviving hostile corporate takeovers that literally every other community is going to use at one point or another in the future.
Yes, the same hostile corporate takeover attempt that Binance was happy to betray clients’ trust by locking up their funds so they could vote on blockchain governance.
All so CZ could help old friend and fellow industry giant, Justin Sun.
Yeah, you could probably say that Binance owes the Hive community one here and should immediately list Hive Backed Dollars (HBD) alongside the already listed HIVE.
Why should Binance list HBD?
But while there are a ton of storylines related to the hostile takeover, HBD actually deserves to be listed on Binance according to merit.
Why?
Well, HBD is the decentralised Hive Blockchain’s very own stablecoin.
Supported by the Hive network’s ability to convert HBD into $1 USD worth of HIVE at any time, they provide a unique solution to the (soon to be) highly regulated stablecoin space.
So rather than being backed by USD in somebody’s bank account, the Hive network’s conversion mechanism has instead simply pegged 1 HBD at or over $1 USD.
What makes HBD truly special is the fact that the Hive blockchain is a truly decentralised, community-owned project.
Have you looked at the token distribution of HIVE lately?
When you consider how important this is for the security of HBD, I can tell you that it looks pretty bloody good.
After the fork where Steemit’s ninja mined stake was converted into a DAO, we now have one of the most diverse and decentralised token distributions of any cryptocurrency project.
Not a single token holder owns more than 5% of the total supply.
What this means is that if someone were to try to take over the Hive blockchain by accumulating enough coins to achieve a majority consensus vote on their own, they would literally send the HIVE price into the stratosphere.
It’s just not worth the risk when you throw in the last resort option of the community potentially just leaving them behind and forking again.
I mean if you’re still not convinced that the token’s underlying value is tied to the community, just take a look at what’s happening on Steemit right now and then take a look at the price of STEEM.
Embarrassing.
Thanks to HIVE’s tokenomics and associated consensus mechanism employed by the Hive blockchain, you can see that HBD is the only truly decentralised, algorithmic stablecoin available.
If you can't see the long term value in listing HBD for not only Binance clients, but the entire crypto industry, I have to say that you're not looking.
The SEC is coming and the changing stablecoin market is going to rock the entire cryptocurrency industry built on a foundation of promises by Tether.
Decentralised, algorithmic stablecoins like HBD will save the entire cryptocurrency market.
Not even an exaggeration.
Call to arms
So let’s go Hive community.
Slide yourself into CZ’s replies and together let’s ensure Hive’s voice continues to be heard.
CZ, let’s make things right again.
Start 2022 by listing HBD on Binance.
Best of probabilities to you.
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https://twitter.com/forexbrokr/status/1477498700729491456
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Some nice breakdown here about the HBD and the entire stable coin industry..
Thanks.
I really think that the entire stablecoin industry is going to have a huge come to Jesus moment when the SEC decides to properly clamp down.
There aren't many better decentralised, algorithmic options other than HBD.
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I wonder if CZ will even consider HBD without some listing cost (doubt it). After all I don't even know some of the cryptos on the various exchanges and why they were picked. If only we had someone who could give us the in and outs of what happens inside these exchanges.
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Do you know if we paid them to list HIVE following Justin Sun's hostile takeover?
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I don't know because I wasn't around during that period.
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In the initial article about HBD you published two months ago, you say: "When the price of HBD is below $1, market makers can enter and convert HBD to HIVE". If you convert HBD to Hive, when HBD goes up, you will be able to buy less of it with the same amount of Hive you had received from the previous transaction (assuming Hive keeps the same $ value). Who would want to do that?
Also, what does it mean that HBD is a debt instrument?
Even though the market says HBD is below $1, the blockchain will always still pay you $1 worth of HIVE for ever HBD.
Think about HBD as a loan that the Hive blockchain is making.
The terms of this loan (being that 1 HBD can always be redeemed for $1 worth of HIVE) are embedded into the blockchain code as a smart contract.
The official conversion process takes 3.5 days using the median HIVE price (in order to factor out short term price swings).
So you're buying something that's worth $1 for say 85c.
Then using the blockchain to convert it back into $1 worth of HIVE (worth $1).
And therefore pocketing the difference.
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HBD is still too small to list on an exchange like Binance. As volumes increase, Binance will list it
There's also an argument to be made that Binance should get in front of the SEC before the inevitable regulatory clamp down of collateralized stabelcoins crunches the market.
By listing HBD, they at least give their clients a decentralised, algorithmic alternative.
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It will be great kicking off 2022 with HBD on finance and then making it transferable from Binance to HIve keychain we will have more people put their money there has it can reach $1 at any point in time.
We really do need more centralised exchange listings for HBD.
By offering further arb volumes, it will help stabilise the price too.
It's a win for everyone.
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Hbd lacks the liquidity stable coins needs its can easily be manipulated like sbd is been manipulated
There's no doubt that a stablecoin that drifts in price between 85c and $1.15 isn't ideal.
As an algorithmic stablecoin, it literally relies on the market to stay pegged.
Meaning arbitrage and the like.
But as we don't have a whole lot of different markets and listings, the market doesn't actually have the ability to effectively do its thing.
So for me, saying that HBD isn't stable enough to list on Binance isn't really a fair argument.
HBD being listed on Binance will actually help to stabilise the coin further.
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