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RE: SEED Holdings report #19 - Extended review of all assets
depending on the amount in savings + demand + timeframe + market swings.
A fixed number doesn't work IMO.
The problem with HBD is, it is a solid stablecoin. It's not backed by a promise, it's backed by hive.
So we should be careful. Also, the interest is given without adding value in exchange.
12% for liquidity provider hive/HBD would be a good thing.
IMO we are in a testing area.
Luna did the same with a Luna backed stable coin. I would prefer to watch first what happens there ( after a market crash) before we start crazy things here.
It's a very new way for a stable coin, so we should be careful to build the best version and not the fastest.
In terms of printing, If we want to print more HBD faster ( i not recommend),
We could airdrop over 12 months HBD to hivepower stakeholder. So the total amount increase. Because the % would depend on Hive power, everyone should have after the airdrop the same % in total.
But that would be IMO a super risky play, also the rates need to be calculated super smart.
I think you're wrong on a number of things, I'll try to recap a few thoughts of me and let's see If we can learn everyone from the discussion:
The problem with HBD in 2018 (well, SBD), wasn't the rapid increase in STEEM's value, the REAL problem was it wasn't expected to see SBD trading at 3-7$ for an extended time period (since the chain didn't have a mechanism to peg the coin on the upside). Today mechanisms on-chain control this.
This effect gets amplified if projects/dapps use HBD. P.e. Ragnarok, from Dan, or HE pools, since all of them virtually 'lock' HBD out of circulation.
Wrong. It's exactly as you're saying. Hive itself is 'the promise'. We could all agree to stop calling HBD 'hbd' and call them 'redeemable vouchers for 1$ worth of HIVE'. Think about the VOUCHERS of the Chaos Legion, if that helps.
Also wrong, HBD in savings equal to HIVE out of circulation. Isn't that value?
It could be very interesting, but IMHO the risks outweigh the pros for something that 'we already have built'. I would keep these things in L2, which is exactly what Hive Engine is providing.
It's not enough validation of our idea seeing Luna ranked at #9 with an x57 more market share Vs HIVE?
Terra USD ($UST) has a 9B valuation, HBD mere 24 milion (or x375 less)
We need to print HBD... and the only way is to incentivize people to do so. Like, LOTS of HBD.
More APR on HBD savings => More HBD => Closer peg => More reliable stablecoin (because closer peg) => more market participants => More demand for HBD => Increase of marketcap of HIVE
The barrier for this is the 10% debt limit, increasing it to 30% is a 'good enough' intermediate scenario where we can keep expanding the supply of HBD (and hence HIVE) without compromising on a hyperinflationary black hole.
We already have this in place, it's called ''posting and curation rewards'', I believe we don't need to overthink excessively things there, but neither to try to introduce innecessary mechanics in place; p.e. 'HBD airdrop to hivepower holders'.
...
Don't you agree? Or I'm missing something.
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