RE: LeoThread 2025-05-17 17:42
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Can someone please explain to me how staking $HIVE on Binance is making 53% APR while on-chain we can only make up to maybe 13%? And we have to work to get that, not just stake it... How the fuck does this work?
Apparently this is some kind of marketing deal the Hive elite worked out with Binance and the hiveblocks account on X doesn't want anyone talking bad about their new 'partner'. Whom let's not forget helped Justin Sun in attacking the STEEM chain which ultimately led to the Hive fork...
Did the community ever vote for this?
Where does the yield come from?
How do we trust they won't stake up to attack the chain again?
Sorry, I don't trust it, and if this is what we have to do to get attention to the chain, by kissing the enemy's ass just to get some new eyes on the token with some fake ass yield, then I am not sure how much longer I am going to be around...
Right?!?
Yeah, I'm with you on that. That's some sort of economic magic math. It's fishy.
Maybe feeding an AI the parameters, let it determine, if it's sound^^
It's not a permanent yield. I tried it then quit. They show it maximum but when you join, drops down.
Yeah, some scammy marketing play. It's bullshit. People need to be staking on-chain, not on a centralized exchange that doesn't give 2 shits about the chain, but only how much they are going to make on the deal.
Sometimes I wonder if a new fork would be beneficial. And most of those times, I have a feeling it would.
!BBH
There are forks like Blurt, but they haven't done much at all. Now if LEO were to fork over... That would be different, and I have been saying this for some time now, lol. I would happily spin up a witness and API node if they forked.
Yeah, I got a user there, but I haven't actually used it yet 😅
You mean like a Hive fork, making LEO the L1?
That would certainly be VERY interesting!
!BBH
Yes, that's what I am talking about. Doing away with the Hive whales and oligarchy once and for all because none of them are even on Inleo.
Blurt is not making that bad though its development remains rather low. Forking Leo to become L1 would weaken both sides of the fork in my humble opinion.
There is no development on Blurt, it's the same old crap condenser interface they forked from Hive/Steem and just stuck with it. I see virtually no activity there. With Inleo, that would be different, they have a solid interface and building out their own infrastructure. It could be done. Hive whales have already weakened it with these kind of shenanigans.
I don't think it would be beneficial for none of both forks... together we're stronger, forked we're weak.
There are pros and cons. Mostly pros in my opinion. The inleo team could implement changes as they wanted instead of be at the mercy of Hive whales.
they do this to get people to deposit so they can cover lending. the risk is they clearly don't have liquidity and people could default. on chain doesn't have this, so no chance it ever gets that high. I don't think it's a marketing thing from Hive, but I could be wrong.
I could show you a DM from the hiveblocks account on X trying to hush me from 'accusing' Binance... It would change your mind... I am telling you there is some fishy shit going on. They admitted that they have a marketing agreement with them.
EDIT: Talked to Crim about it and it is about marketing, but it's only a limited time thing to try and boost volume and liquidity in the markets. And I wasn't being hushed, I just took it wrong, haha... Still messed up and she completely understands and agrees, but they are doing this to try and attract trading volume. She also assured me they weren't going to try the whole takeover thing, so we'll see, lol. I don't trust Binance for shit, lol.
lemme see lemme see
Crim and I worked it out and things were explained. Her DM wasn't meant to hush me, she was saying that she is having to censor herself right now because of the marketing deal that she herself is against, so she clarified that point. I won't post it publicly out of respect of that, but I was REAL close until she got back with me about it, lol.
I gotcha. Cool
it’s never as bad as you think…until it is…but it usually isn’t!
agreed.
It is a marketing play.
I feel it is funded with the DHF but if question it they all freak out.
This type of BS has killed Hive.
Another fork incoming ?
I can't find anything where it was voted on in the DHF. Even had Grok look and couldn't find any record. They admitted to me in a private message it is a marketing partnership of some sort. I told them that's like sleeping with the enemy, lol. Such a damn joke.
It was part of the marketing proposal.
That is basically a slush fund for Hive projects.
if the marketing proposal funds it.
And large whales are moving Hive to the CEX to gain the rewards.
This is so much BS.
It sounds crazy. I didn’t want to do any kind of staking in exchanges, but it sounds as temptation. Not fair for hive users doing the most to get something.
Yeah, I am not a fan either, but apparently the Hive 'leadership' feels the need to kiss Binance's ass just to get some trading volume.
This place sucks now lol The powers that be have killed it from their own greed
I'm just sticking with LEO on chain, anything I get from Hive, I just flip.
In other news my KE Ratio is super high cause I'm cashing out lol
Yeah, mine is up there too, lol. I still like earning from my posts, but yeah, it's all going into Monero for the most part, or just trading it on the internal exchange with my new bot, which the only reason it sucks is because the HIVE price can't sustain any kind of price pump, lol, so I keep getting orders stuck that have to wait days to recover, or I just cancel them and take a loss...
From my own experience with these CEX APRs is that the actual percentage isn't that high while it fluctuates a lot and they probably show the maximum APR/APY.
I'm not on Binance but this is how works on other places
2 months ago this question came in my mind and good to see that someone is also talking about it
Yeah, it's a bullshit marketing ploy that honestly isn't doing any good at all.
I don’t know if binance is “the enemy” I think it’s entirely possible they didn’t know what was going on back then. Sun is another story
Yeah, I don't think it's possible they didn't know what they were doing. I am not that trusting, lol.
It fluctuates, they give this APR because they need the HIVE. the higher the APR, more people will let them use his HIVE stack.