The volatility of crypto coins triggered the need for a stable currency that can be used to wedge against fluctuations in the prices of crypto assets.
Now, we have the likes of Tether USD (USDT) and Binance USD (BUSD) serving as stable currencies of sorts.
Indeed, there are multiple stable coins that are now used across different crypto ecosystems for flexible trades, and for hedging against fluctuations.
However, one fact that is known by a few crypto investors is that those supposedly stable coins are not entirely stable. There are situations that could threaten their so-called stability, thereby, exposing the holders to fluctuations in prices.
From USDT to BUSD and other stable coins, the story is the same. So, if stable coins aren’t stable, and crypto assets are volatile, what then is your gain from being a crypto investor when you are continually exposed to fluctuations in prices?
It is time for a new dawn and a new beginning so that cryptocurrency traders and investors alike can start trading with confidence, and not with caution.
HT Anchor Cash is the harbinger of this new era, and I am pleased to champion this review to let you know all about this new stable coin in the crypto space.
BACKED BY ALGORITHMS
The first feature that sets HT Anchor Cash apart from the other stable coins is the fact that it is backed by an algorithm.
Unlike the USDT that is pegged to the United States Dollar, the HT Anchor Cash is more of a standalone stable coin that can work without any support whatsoever.
Another unique advantage of being the first algorithm stable coin is that it is a digital asset pegged to the native Huobi Ecological Chain (HECO).
Because of the continued expansions of the HECO ecosystem and the increasing demands for on-chain transactions, it leaves no doubt that the HT Anchor Cash is the way to go.
As the native token of the broader HECO ecosystem, it will serve a number of purposes, including:
Reduced risks of devaluating the stable coin because the total amount of minted Huobi Token (HT) is constant, and wouldn’t change or fluctuate.
The HT Anchor Cash is also important in the broader HECO ecosystem because of the disposition as the basic asset that fuels transactions in the ecosystem.
Also, the HT Anchor Cash is required for reduced transaction fees; something that isn’t possible in traditional (Ethereum-powered) chains.
PRICE STABILIZATION MECHANISM
I must admit that one of the reasons for the fluctuations in the values of stable coins is because of the absence of a robust stabilization mechanism.
That is what sets HT Anchor Cash apart from the other stable coins. The HT Anchor Cash protocol has already come up with different stabilization mechanisms and techniques that would be used to stabilize the value of the coin.
For example, if the value drops below 1 Huobi Token (HT), the users/holders would be allowed to buy more of the HT coin to stabilize the price.
Likewise, if the value of the HT Anchor Cash rises above 1 (1.1 HT for instance), the bonds purchased during the decline in value would be sold. It is also possible for more HT to be minted if the redemption of the bonds doesn’t stabilize the price of the HT Anchor Cash.
CONCLUSION
The stability of crypto assets is important, because that is one of the factors that boost the morale of investors.
I am optimistic that the HT Anchor Cash protocol has almost everything figured out, as regards to the stability of its native crypto asset, the Huobi Token (HT).
USEFUL LINKS
Website: https://www.htc.cash/
Twitter: https://twitter.com/HtcCashofficial
Telegram Group: https://t.me/HTC_CASH
Telegram Channel: https://t.me/HTC_CASH_CHANNEL
Github: https://github.com/HT-ANCHOR-CASH
Gitbook: https://htanchorcash.gitbook.io/htc/
AUTHORS DETAILS
Bitcointalk Username- Heroalt
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768763;sa=summary