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The discussion focused on the proposal to integrate HBTC and HFIL, H-Tokens launched by Huobi DeFi Labs, as collateral assets on Aave, aiming to increase liquidity and growth. Despite concerns about the centralization of wrapped Bitcoin forms, the potential benefits of diversification of risk and bridging users to the Ethereum ecosystem were emphasized.
The discussion primarily revolved around the proposal by Hurry to support HBTC and HFIL as collateral assets and currency on Aave. These H-tokens, launched by Huobi DeFi Labs, are backed by BTC and FIL respectively, and are issued on Ethereum to bring more digital assets to the Ethereum DeFi ecosystem. They have been audited by Slow Mist and are gaining recognition in the market. HBTC and HFIL allow BTC and FIL users to access Ethereum DeFi protocols such as Uniswap, Curve, Nest, CoFix, ForTube and more. Users can acquire H-Tokens through Huobi Global, which has a robust security system and a user-first approach.
Hurry argued that the integration of HBTC and HFIL on Aave would introduce a significant amount of liquidity to Aave and contribute to its growth, given Huobi Group's extensive user base and the role H-Tokens play in connecting BTC and FILECOIN users to the Ethereum ecosystem1. However, Betty raised concerns about the centralization of wrapped forms of Bitcoin, questioning their suitability in the decentralized world of defi2. Hurry acknowledged these concerns but also highlighted the benefits of diversification of risk and the advantages of Hbtc, backed by the Huobi Group3.
In conclusion, while there are concerns about the centralization of wrapped forms of Bitcoin, the potential benefits of integrating HBTC and HFIL on Aave, such as increased liquidity and growth, were also highlighted. The discussion underscores the importance of diversification of risk in the DeFi ecosystem and the potential role of H-Tokens in bridging users to the Ethereum ecosystem.
Posted 3 years ago
Last reply 3 years ago
Summary updated 2 months ago
Last updated 06/12 00:44