Getting a bit of ACE one day (or week) at a time!
If you are still unaware, a new asset was introduced and launched fifteen days ago (17th January) on Hive-Engine—ACE, an on-chain Stablecoin that is overcollateralized by the LEO stakes of LeoStrategy. It is stable and pegged to $1. Accordingly, its design is similar to DAI (a well-known stablecoin used in DeFi Lending). ACE uses the PSM model to keep the peg. This allows holders to swap or convert 1 ACE for $1 USDC or HBD, and vice versa, after the presale is over. So I think it's a pretty safe investment (Not Financial Advice).
The asset is currently in its presale phase, and 3.1% of the supply has been sold to date (up by 2% from 1.9% a week ago), and 90 participants so far (from 61 last week). People might be budgeting their funds and are yet to go into it aggressively, but they are still buying. I am too, even in small quantities. This week, I acquired over 50 ACE (still waiting for @LeoStrategy team to send me my most recent purchase, as I used the second method of buying by sending HIVE directly to its account, so I don't need to convert my HIVE to Swap.HIVE).
Anyway, to see live updates on the presale, milestones, and more information, check out https://leostrategy.io/ACE
So why am I participating in the presale?
For one, we buy at discounted rates, especially since we started buying small at 90-92 cents, and reached the ANTE tier at such prices. We hope to add more over the next few weeks to join the RAISE Tier.
I also like to have a higher lending cap and enjoy a lower borrowing fee when LEO Lending goes live, especially since it will be my first time taking a loan in the crypto world. While I'm not sure if I'd be providing liquidity on ACE-supported pools, the 20% APR is enticing. I would also want early access to new collateral types, lending pools, and any new protocol integrations. I guess it's time to go a little bolder in DeFi.
Thinking about it, I can also sell some when the price hits $1, and that would give me some profits.
Until then, we keep ACE-ing!
Posted Using INLEO