Why we leave HBD interests unchanged...
A couple of weeks back, we asked the community in a Liotes Mission what they suggested for the return on savings for HBD.
As a Hive Witness, we need to signal what interest rate we support. Even if we are not in the top 21, it still matters also for other, better places witnesses to adapt their rate. We listened to what the community suggested and came to the realization that it's not such an easy answer to give.
We signal a rate of 10% APR at the moment with our witness. The general feed-back that we received is that this is more or less ok. Some would prefer to get a higher APR but they are in the minority. Most of the answers were considering the fact that high interest rates on APR is bad for the hive supply, but at the same time lowering the rate too quickly could be bad for the chain as well.
A drop in interest rates could lead to a selloff and a quick increase of hive liquidity through conversions. This would have a negative effect on the price of hive and also HBD. We are a bit between a rock and a hard place. We know that for the well being of hive, these rates should come down but this should be done at a slow pace. For this reason, we decided to leave the interest rate on our witness at 10% for the moment. We plan however to lower it slightly at a later stage.
No mission last week
I didn't manage to generate a Liotes Mission last week and I'm sorry about that. There will be a new mission this week.
The Liotes Ranking
Since we didn't have a mission last week, there were also not much changes within the ranking. You can check out the ranking here: - The Liotes Ranking
The numbers of this week
This week we could burn only 500 tokens mainly because the price of LEN went up lately. The higher the price, the less we can burn.
Liotes
A project run by @ph1102 and @achim03