No, DASH Integration Won't Negatively Affect HIVE's Price

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InLeo has cooperated with $DASH's @dashpay team to allow Sign Up on HIVE with DASH wallets. The integration should give DASH users Lite accounts on HIVE and allow them to automatically covert their Hive and LEO earnings straight to their DASH Wallets.

Never I have been excited to be on HIVE as much as I am today. INLEO platform restored my faith in the community that felt stagnant for a while. I've only seen the platform improve over the past year, and it's finally at a level I'm comfortable preaching about it to other communities. It's not perfect, I still find bugs on INLEO every NOW and then, and some of their features like Threads, are not compatible with other HIVE platforms, but the potential is there!

The Next upcoming INLEO feature is DASH Integration.

The idea is simple, people will be able to use their DASH wallet to Login to HIVE blockchain using Lite Accounts, (which are fully functioning HIVE accounts,) and use INLEO via a DASH-themed interface.

DASH users will see their HIVE earnings in equivalent price in DASH. When their earnings reach a certain threshold, they'll be automatically converted to DASH, (via LeoDex,) and sent straight to their DASH wallet they've used to login!

I'm excited for this integration as it means more users will be onboarded to HIVE. A lot more!!

Sell Pressure on HIVE ...?

In the latest AMA threadcast, a fellow audience member, @cpol asked the INLEO team: "Since DASH users earning will convert automatically to DASH, won't that decrease HIVE Price?"

https://inleo.io/threads/view/cpol/re-khaleelkazi-hpj3ve3b?referral=cpol

I think that's a fair observation... Rewards earned by DASH users after the integration will be converted out of HIVE ecosystem. If there were too many transactions outside to the DASH ecosystem, of course HIVE price will be affected. HIVE already has a massive sell pressure as is, it's understandable to worry.

But that's only if you're not looking at the full picture... Here are some counter arguments:

  • DASH integration will be implemented Both ways!

    • DASH users will be able to pay for INLEO services, like premium accounts, using DASH which will be added to HIVE ecosystem.

  • Most of the Rewards on the INLEO platform are in the form of $LEO.

    • On threads, HIVE rewards are seen as a bonus.

  • Only Liquid Rewards get automatically converted to DASH!

  • Also, Most HIVE users are already sending their money out of HIVE ecosystem.

    • That's why we're facing the 'Sell Pressure' problem in the first place.
    • There's a Convenience Fee on the automatic conversion for DASH users, so there should be less HIVE outflow per user as than right NOW.

  • Finally, Onboarding and Engagement are more important for increasing HIVE's price than decreasing the Sell Pressure! No one wants to be part of a dead community.

Most of these points were talked about in the latest AMA, and @khaleelkazi of the INLEO team promised he'll reveal more details as the DASH Integration approaches.

Do you Agree or Diagree on any of the points above? Do you have other

I'd love to see more discussion about this topic.

Related Threads

https://inleo.io/threads/view/louis88/re-khaleelkazi-uvzmxbum?referral=louis88

https://inleo.io/threads/view/ahmadmanga/re-khaleelkazi-rrvkkeqg?referral=ahmadmanga

https://inleo.io/threads/view/behiver/re-khaleelkazi-28qtanqux?referral=behiver

https://inleo.io/threads/view/behiver/re-khaleelkazi-2bco9wqir?referral=behiver

https://inleo.io/threads/view/ahmadmanga/re-khaleelkazi-2nmpos41u?referral=ahmadmanga

https://inleo.io/threads/view/behiver/re-khaleelkazi-tnf6y95x?referral=behiver

- 6% of this article's payout will be given to my INLEO Subscribers @khaleelkazi, @taskmaster4450le and @tsunsica.

Posted Using InLeo Alpha

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Coolest part is the buzz that's created. There's going to be tons of marketing out of organic channels. I'd say we'll get $1M+ worth ad impressions for free by just INLEO X Dash.

Now imagine we had the same for few more crypto! It's gonna get so much easier to grow Hive 🐝 🚀

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Good post. Another thing that Khal mentioned was that more InLeo users require InLeo to buy more Hive to stake in order to give users resource credits. So even if every user cashes out to Dash, more users still means more Hive buying.

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Absolutely ridiculous. Allowing users of another chain to be paid out of the Hive reward pool straight into their own token? Seriously disgusting. Who's providing the Dash for leodex?

They'll be paying premiums in Hive

Not a drop compared to rewards being taken.

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I think most people on HIVE are already throwing their rewards outside of the chain, so at worst, nothing will change. And I think new people = more activity = more potential for people to have stake in the platform.

Well, if I was proven wrong, I'll go back to this and admit I was wrong.

!RemindMe in 3 Months

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Good morning, thanks for the reply. Would it not be possible to Leo tokens instead? Use this exchange to change their payout into Leo?

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I understood your question in two different ways so I'll answer both of them:

  • Why not give DASH users LEO Tokens Instead of DASH Tokens?

    • The whole idea of this initiative is to market it "Use Decentralized Social Platform and Earn $DASH while doing so!" There are many ways to spend DASH but not many ways to directly earn it, so this will be highly attractive offer for them.
    • Now, while this sounds like only the DASH side will benefit, I don't think so... HIVE is in dire need for new users and more activity... Platforms spend millions to get people into their ecosystem. Marketing HIVE in other ways seems to have failed, so I think this idea is worth trying.
    • As DASH people learn more about HIVE, some of them will surely want to have stake in platform: More HIVE POWER will be bought. Less money flow out of the HIVE ecosystem.

  • Why not convert the LEO Rewards into DASH instead of the HIVE Rewards? That way, only the LEO platform loses if this idea didn't go well and not HIVE as whole.

    • LEO Rewards are already to be converted into DASH via this initiative. If DASH users spend their time in the INLEO exclusive "LeoThreads" then most of their Rewards will be in $LEO form anyway.
    • If they did spend their time writing Long Form posts, it means they are more dedicated: Higher chances of them wanting more HIVE Power.
    • Still, this idea is worth suggesting to INLEO team, though they might find it unnecessary.

As I said, people bleeding HIVE dry is already a problem here, it's decentralized platform, we can't and shouldn't tell people what to do with their earnings. I think that even in the worst scenario, nothing will change.

What we need is more users knowing about HIVE and telling other people about it. If a whale discovered a platform with 1M active users, they'll be more likely to invest in it than a platform with 100K, active users!

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Thank you for a well thought out and in-depth reply. Very much appreciated :-)

we can't and shouldn't tell people what to do with their earnings.

and

HIVE is in dire need for new users and more activity...

Absolutely agree, of course :-)

It still feels very wrong to be rewarding Dash users with no interest in our blockchain other than reaping reward on the off-chance a few may stick around and invest but I look forward to chatting to you again in 3 months and hopefully being proved wrong!

Thank you once again for taking the time. Have a great weekend :-)

PS Last thing, is there no way that Cub tokens could be used to play a part in this venture?

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I'm not sure, is it discontinued?

PS Last thing, is there no way that Cub tokens could be used to play a part in this venture?

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I totally understand, but I wouldn't get behind this idea if I didn't think it has more positives than negatives.

It still feels very wrong to be rewarding Dash users with no interest in our blockchain

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(Edited)

Who's providing the Dash for leodex?

Maya Protocol, a Decentralized Exchange.

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Only Liquid Rewards get automatically converted to DASH!
I guess this explains a lot. It still help reduce the selloff pressure.

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