Could HIVE use a $1 Stable token?

Hello everyone? Has anyone ever tried a stable token on HIVE? I think this would be of great use to the eco-system. I know we have the HBD but does that really work when it's rarely worth $1?

What would be the use's for a HIVE stable token?

A stable tokens job is to remain stable with most being pegged to the US dollar. There are many uses for HIVE to use a stable token and it would all be geared toward growth. There are more than i can think of but here are a few.

Retails and Stores
There have been attempts at online HIVE stores but none have really worked out that well. This could be a problem of small user numbers are not having a good medium of exchange. With HIVE having spent the past 4-5 months at under 20 cents, it costs many HIVE to buy something worth $50 and people might prefer to hold on to that HIVE. Setting HIVE stores up sounds good but do people really wanna use HIVE to buy things? are would they rather hold onto it?

NFT's are getting popular but for the same reason, people dont wanna spent their HIVE. A lot of NFT's are already valued in dollars so perfect market use case right there.

A universally recognised HIVE stable token would help to separate the feeling of guilt we get when our HIVE balance decreases. It's like I can buy a crypto T-shirt with Tether easy but if the only payment option is BTC, no thanks, I'd rather keep that for later. Im keeping my BTC. HIVE retail is a good idea on paper until we realise people dont wanna spent HIVE. A stable token could help fix that.

Gaming
What about if instead of HIVE games creating their own tokens that all always fall in value, they used a stable token to reward players? Operators could earn their fee's in the stable token and not be concerned with market volatility making paying bills, devs, etc easier and less stressful when the market dips 15-20% right before the dev's are needing paid.

If integrated into many games, gaming marketplace's volume's would increase as players could simply send funds from 1 gaming wallet to another. We cant spent SIMs on Rabonna (awesome soccer game) and we cant spend RNB on Dcity. If games integrated a stable token, this problem goes away. In theory, if you were playing 5 different games, you could use the rewards directly from all 5 to reinvest into just 1 game with a few simple transfers, no exchanging and selling at under market value to get a quick sale.

Rewarding players in stable tokens would be super bullish and a great incentive for players. Something they can take to the bank and not need to worry about falling in value.

Gambling
This is almost the same as gaming but without NFT's. I am not big on promoting gambling so I'll not write much here. I'd take the business but would not seek it. The advantages are similar to gaming but much easier to integrate.

Hedging against volatility
Goes without saying that stables will protect you from crypto volatility. They are pegged for $1, the price will remain stable.

Let's say you need some funds asap but all your HIVE funds are all over the place. You have funds in Splinterlands, Dcity, HIVEp and Krypto gamers but you have no idea what DEC, SIM and GAMER are worth right now. Are they worth what they were last time you checked? How often do you let gaming token rewards build up only to see the price has dropped 50% by the time to wanna sell some?

Being stable makes them better for using when collecting be it for charity are raising investment funds. We are know-how stable token projects against market volatility.

Exchange token dividends
With investment tokens coming to HIVE in a small way with SPI, LBI, BRO, INDEX, DHEDGE and most recently UTOPIS we could see this trend continue. It would not work for all projects, but for some paying out their dividends are part of their dividends to their token holders in the form of a universally used stable token could be attractive to investors as they would be earning something of guaranteed value that is shielded from volatility.

How would that work?

An exchange token would be created then a website designed. This website would only have 1 page, very simple. Maybe 200-300 words explaining what it does, a short "how to use video" and a few links to HIVE frontends. The main feature of the website would be a box that looks much like Uniswaps trading. The top option would offer 2 tokens for exchange, 1/ HIVEp and 2/ our HIVE exchange $1 stable token. They could be converted to an ERC-20 stable token like Tether, Dai or USTC on a 1-1 ratio. Users could select buy are sell.

Buying would require the person to transfer an ECR-20 stable token to receive either 1/HIVEp or, 2/ our stable tokens directly in their HIVE exchange wallet.

Selling would require the seller to send us either 1/HIVEp or 2/ our stable token and provide an address to forward them ERC-20 stables tokens

• HIVE buying and selling of the stable token on exchanges would be unmonitored
• Stable token could be staked to earn 5-6% per year, paid in the stable token with unstaking set to 100% back in one payment in 3-7 days.

It would offer a quick and easy route in and out of HIVE through ERC-20 stable tokens while adding a stable token into the HIVE ecosystem. We all know when tether is printed, Bitcoin price is going to go up, could the same be true for HIVE? If people had the option to convert ECR-20 stables in HIVE or a $1 pegged stable token on a HIVE sidechain? Would it bring investment in the form of new money? new players to HIVE games? more trading volume to NFT gaming cards? would it appear more attractive to project/dapp builders?

Would HIVE benefit from a universal $1 pegged token?

I can personally see cases for good and bad. I know a lot of projects are set up in a way that they need to have their own token because printing new tokens is free but there are projects out there that could integrate a pegged stable token and earn its fees in a pegged tokens that can be converted to either HIVEp or an ERC-20 stable token. I personally think a stable token is better for users and not so many operators but not always. I think more good would come from such a project then bad.

Let me know what you think in the comments below......now!

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