HBD Interest Rates Are Now 20% | We're Building a $5M Liquidity Pair for HBD-USDC
Today I saw many posts popping up over my PEAKD Feeds, discussing the HBD savings rate hyped to 20%, I am quite surprise finally we are in the savings game compete with those bigcap coins, LUNA,AVAX,DOT,NEAR...
I was reminded LUNA has their stable coin, UST and attracting so many cashflow because they are offering 20% savings APR for depositors.
Bloomberg - DeFi App Anchor Protocol Promising 20% Interest on Stablecoin
Somehow, I go through Binance Earn page, https://www.binance.com/en/earn/. I found that not even LUNA, NEAR, AVAX, DOT and AXS are offering savings APY up to 20% or 20+. That's what I call "The Savings War".
However, when we think deeply, if the value of the coins dropped a lot (common in crypto), like over 20% APY, we are breakeven or losing.
So, what about HBD savings? will we lose the value of it greater than the interested compensated? Let's look at the history below, as we knew, HBD is a stable coin here in Hive chain, meaning the value somehow equal to or closed to $1.00. In the last 3 years, it shows the proof.
Finally, we can look at the table for summary in last 7 days, we can have some gains on BNB, NEAR and HBD if we started our savings plan but suffered some losses on LUNA, AVAX and DOT.
| Coin | 7d % | Int.rate | Diff |
|---|---|---|---|
| BNB | -11.8% | +12.99% | +1.19% |
| LUNA | -29.9% | +18.79% | -11.11% |
| AVAX | -22.0% | +21.63% | -0.37% |
| DOT | -23.1% | +20.18% | -2.92% |
| NEAR | -6.9% | +21.8% | +14.9% |
| HBD | -0.9% | +20.0% | +19.1% |
Savings is a time matter behavior, it should consider at the mindset of 1 year or more. We also need to be very careful in the crypto world, earning is hard and we don't want great losses, after some comparison above I would say if the HBD savings APY can maintain 20% or above, it's very favorable.
p.s. it's been long time since my last posts, writing costs so many brainpowers...
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