HYVE, the largest Web3 freelancing marketplace has integrated TRON’s algorithmic stablecoin USDD as one of its newest additions to its payment options.
🤌 We’ve got three words for you: decentralized, over-collateralized and chain-agnostic.
💵 $USDD is our newest addition to our payment options.
👀 Read more about our #token integration here:https://t.co/OL8lJEFyur pic.twitter.com/ThHAxEJ7rC
— HYVE (@join_hyve) November 30, 2022
The freelance marketplace would allow freelancers to be paid and accept payments in USDD for jobs, tasks and offers from different projects.
The addition of USDD on HYVE has key advantages for businesses and individuals in the said freelancing marketplace, such as providing better options for sending and receiving payments without worrying about chargebacks or fraud.
This also allows both enterprises and individuals to accept payments in multiple currencies, which saves both on foreign exchange fees.
What is HYVE?
HYVE is the largest Web3 freelancing marketplace platform that is available on four different networks ETH, BSC, Polygon, and Fantom.
The Web3 freelancing marketplace platform has been leading in adapting to changes and they only accept payments directly in cryptocurrencies, which sets them apart from other freelancing marketplace websites.
In addition to that, HYVE has lower fees compared to other freelancing platforms that charge up to 20% in fees and HYVE’s lower fees eliminate intermediaries and be paid directly in cryptocurrencies.
📈Many people are resigning their regular #jobs in favor of #freelancing.
💸Who doesn’t want #financial independence, while working #remotely from anywhere you desire?
❓You might wonder what’s next for freelancing?
👉The future is #decentralized: https://t.co/MMJAg8NC8M pic.twitter.com/ZIAcLnuDCN
— HYVE (@join_hyve) October 24, 2022
The HYVE Ecosystem is divided into three major parts, the HYVE Core, the HYVE Protocol, and the HYVE Client.
$HYVE is their native token that was built as an ERC20 asset and has a market cap of $932,855.543. It is primarily used as a payment option for jobs and offers within the freelancing platform and allows holders to participate in platform governance and vote on proposals.
Overall, HYVE’s platform has been leading the game when it comes to the freelance marketplace platform and creates opportunities for promising talents in the cryptocurrency industry to look for projects within HYVE that suit their skills and experience.
What is USDD?
USDD or the Decentralized USD is a stablecoin on the TRON blockchain and it is an algorithmic stablecoin that was issued as a TRC token on the TRON network.
It leverages the power of mathematics and algorithms to achieve the overarching goal of financial freedom for all. This is similar to the other algorithmic stablecoins.
🤔 Looking to get paid in $USDD?
— USDD (@usddio) December 1, 2022
TRON DAO Reserve serves as a transparent mechanism to fully manage the reserves backing the USDD.
The Decentralized USD algorithm will ensure that the stablecoin on the TRON blockchain maintains its US dollar peg regardless of the market conditions.
USDD was granted statutory status as an authorized digital currency and medium of exchange in the Commonwealth of Dominica alongside other TRC20-based tokens.
USDD continues to grow over the past few months and the addition of it to the Hyve marketplace creates more use cases of the said algorithmic stablecoin.
For more news and updates, see Tron Spark.