Hello Cent community!
It's another interesting moment to be with this great and loving family on the hive blockchain.
Today, I bring to you the opportunities the Cent community offers to the entire hive blockchain and how one can swap Cent tokens to HBD vice versa.
Since April, the HBD on-chain have gained more relevance on the hive blockchain and one of the ways to tap into the reservoir of the 20% interest on HBD savings, is to create an avenue where the Cent token and the HBD will meet, which is through swapping tokens to and from the platforms.
We slightly increased the liquidity provider rewards in the HBD/Cent pool. The pool's current APR rate is 62%. There is $800 worth (477,349SWAP.HBD/68,426.49 CENT) of liquidity in the pool.Source
It should be noted that, providing liquidity pools for a token is one of the best way to protect the token during dip seasons like the entire cryptoglobal is currently facing.
This is because, liquidity pools have a way to keep a token safe from much volatility. This means that the Cent admin is protecting the Cent token by providing liquidity pools for the token and at the same time raising rewards from the swapping charges that's paid by the person performing the transaction.
What does this HBD/Cent Swap offers holders of either token
Since there's liquidity pools for the two tokens, it's easier to convert the tokens in any of the directions.
An individual with the Cent liquid from Cent rewards, can easily swap them into HBD and further place them in the HBD saving platform. This will help the individual to earn more HBD from the savings through the interest that'll accrue from the savings. The same can be done to the Cent token.
This friendliness gives holders the opportunity to swap tokens instead of going to the on-chain market to sell Cent or HBD before converting it into any of the tokens.
I'll say that converting HBD to Cent token vice versa will help reduce the volatility posed by the on-chain market and also help holders save the token by swapping Cent tokens to HBD and secure the token into HBD savings.
Thanks!