De-Fi on Hive may Outperform Blogging and GameFi!
Hive ecosystem is expanding and there are tons of new games (such as PsyberX, Wrestling Organization Online, and Crypto Shots) and micro-blogging / written content platforms (like Reverio and Veews) adding value to our crypto experience.
In my honest opinion, although Hive is the only blockchain-based crypto blogging platform that really rewards users with a stablecoin (HBD) and coin (HIVE) and one of the best games of crypto (Splinterlands) makes Hive a GameFi Chain for Footprint and Coinmarketcap's report, these categories may not compete with De-Fi on Hive in the future.
Why De-Fi on Hive?
Let's start with the question: Why?
Let's take a single transaction on Hive De-Fi to examine:
For your De-Fi experience, Hive fixest 4 problems thanks to its innate features 👇
1 - Slippage / Equilibrium: You can easily swap your coins in Hive because the liquidity pools can equalize both sides in less than 2 seconds for free!
2 - Speed: Hive blockchain is, has always been, fast enough to handle GameFi and De-Fi at the top of it. Only a second of time 🕰️
3 - Transaction Fees: When you use other blockchains, you will be irritated by the transaction fees of $0.30 to 3 bucks in an ordinary day. Imagine the fee on events etc! Resources Credits make it free for you 🔥
4 - Swapping Fees: As the operational costs of De-Fi projects behind the stage will be quite reasonable, the swapping fees can be limited as much as possible if a service provider wishes to provide cheap services.
How De-Fi on Hive?
I'm sure you use Hive-Engine, Tribaldex or LeoDex for your Layer 2 purchases. You always see Swap.Hive, Swap.BTC and many other Swap tokens listed and traded.
A Cross-Chain Platform can provide Swap.BTC / Swap.ETH or create their own peg tokens to create pools by using stablecoin: HBD or other Swap.Stable systems. Since the transactions will be Cross-Chain, the smart contracts will lock the amount of crypto on other chains which will keep the system solvent 100% as expected.
For the Cross-Chain operations, Multi-Token Bridge can be used and developed for multi-chain transactions on many other chains. Besides, a similar syststem of Swaps by Deathwing can be created to initiate nearly instant transaction between several pools to provide the lowest slippage rate for free!
Using Routes for The Lowest Slippage Rate for Free:
Here is a solid example for you.
PuzzleSwap on Waves ecosystem provides "Route" to initiate Multi-Liquidity Pool transactions. By doing so, it both provides transaction fees to LPs and keep them active, also it serves the lowest slippage rate to the user. WIN-WIN.
For example, there are 3 LPs being used to minimize the potential loss of swaps. You can build a better one on Hive as the transactions are faster and free (RC used).
When the users wish to withdraw their native coins, the smart-contracts can initiate the transaction to finalize the Cross-Chain experience on Hive. IMHO, we have not used even %10 potential of Hive yet. De-Fi on Hive may hit crypto really hard 🔥
Hive On ✌🏼
Posted Using LeoFinance Beta
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I also think that DeFi is the biggest bet on Hive and the crypto space in general. This is because of it's capabilities and usage. Everybody at some point will utilize a DeFi platform to conduct transaction or what not. That might not be the case with gaming or blogging.
I think so. Now that Cross-Chain DeFi is the future, Hivefixesthis 😉
good stuff
I agree. The potential of #DeFi on Hive is enormous. People do not realize how big finance is and the fact that Hive is truly decentralized. That provides amazing ability to build going forward.
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Veews
Absolutely. Hive is backed by both a functional blockchain infrastructure and a strong community that consists of the stakeholders rather than 2 - 3 famous crypto guys.
I wasn't aware of https://swaps.deathwing.me/ ; thanks for showing me this. Awesome to see more and more people building useful tools on HIVE.
Swaps by Deathwing is an amazing tool! I adore using this router for Swap.Hive - Hive transactions.
Happy to help you explore something new ✌🏼
De-Fi on Hive, a blockchain platform that focuses on decentralized finance, may outperform blogging and GameFi, two popular use cases on the platform. This is because De-Fi on Hive offers a range of financial services, such as lending, borrowing, and trading, that are not available on other platforms.
De-Fi on Hive allows users to earn passive income by providing liquidity to decentralized exchanges, and this can be more profitable than blogging or playing games on the platform. In addition, De-Fi on Hive offers a more secure and transparent environment for financial transactions than traditional financial institutions.
Furthermore, the De-Fi market is growing rapidly, and Hive is well-positioned to capitalize on this trend. Many De-Fi projects are already being built on the Hive blockchain, and this is attracting a growing number of users to the platform.
In conclusion, De-Fi on Hive may outperform blogging and GameFi because it offers a range of financial services that are not available on other platforms, and it is well-positioned to capitalize on the growing De-Fi market.
Posted Using LeoFinance Beta
DeFi on Hive is really only in its infancy.
I agree with you that so many different routing tools that could be built much more efficiently on Hive.
Diesel Pools and the internal market only scratch the surface of what could be built.
The potential around Hive and DeFi is astronomical!
Posted Using LeoFinance Beta
The blocking point here is NOT so many people know HIVE and it leads to liquidity issue, in which a transaction of considerable amount gets very high slippage.
And yes, I use quite often this Multi-Token Bridge to swap between HIVE-BNB-POLYGON network. It's very useful and I love this tool :)
Posted Using LeoFinance Beta