The Huobi Ecological Chain (HECO) is an ecosystem that is interested in the continued expansion of the Decentralized Finance (DeFi) industry.
The chain continually rolls out innovative features that would make the calls for more DeFi trades more attractive.
Now, there is a new development that will excite lovers of the broader HECO ecosystem. It is the introduction of the first algorithm stablecoin that is pegged to the native digital asset, the Huobi Token (HT).
Known as HTC.Cash, this stablecoin will be used for a variety of purposes, such as stabilizing the crypto assets that are supported for trades.
The HTC.Cash stablecoin will also be used for meeting the growing demands for decentralized transactions within the HECO ecosystem.
It will also be of interest to you to know that the HT Anchor Cash (HTC.Cash) is pegged to the Huobi Token (HT), and would be used for facilitating the onward improvements of the Basis Protocol.
Considering some of the discrepancies in other stablecoins, the HTC.Cash stablecoin has some propositions for the stability of crypto assets.
Some of the ways it would stabilize crypto assets of all kinds include:
PRICE FEEDING MECHANISM
Some stablecoins fail to aggregate prices of their crypto-asset pairs, and that is one of the leading causes of price fluctuations.
However, that isn’t the case with the HT Anchor Cash (HTC.Cash), because it uses a unique and reliable price feeding mechanism that aids in value collation.
Ideally, the price feeding mechanism uses 12-hour timeframe to weigh the average price or value of the HT/HTC trading pair.
The importance of doing that is to reduce the risks of price manipulation. Provided the aggregation is done on time, and the timeframe is feasible, there would be little or no opportunity for the price of the HT/HTC trading pair to be manipulated on the Decentralized Exchange (DEX) where it is being traded.
SUPPORT FOR ON-CHAIN TRANSACTIONS
The HTC.Cash stablecoin also drums support for on-chain transactions. Doubling as the native crypto token of the broader Huobi Ecological Chain (HECO), the stablecoin can now be used to support transactions on HECO.
That way, you are confident that the speed of the transactions would be faster, as there is little or no need to use another chain (like Ethereum) to facilitate the transaction.
MORE MINING OPPORTUNITIES
Another innovative feature of the HTC.Cash stablecoin is that it presents you with a whole new aura of mining opportunities.
Mining stablecoins has never been as easy as HTC.Cash makes it to be. This time, there will be additional support for mining more HRC20 tokens, which is a disruptive token model that will give the ERC20 Ethereum token model a run for the money.
There is also the support for extended stablecoin mining time so that the entire mining process wouldn’t be rushed.
FINAL THOUGHTS
I am of the view that the broader Huobi Ecological Chain (HECO) is already setting a new trend in the DeFi industry.
The addition of the HT Anchor Cash (HTC.Cash) stablecoin is a move to further strengthen the position of stablecoins in the crypto market.
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