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RE: How would you react if the 2nd haircut level is reached?
I don't think I understand where the debt comes from much less to get to 30% debt. How does the debt calculation work? All this talk about debt makes me worry about who is making the decision to get into so much debt in th first place.
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Every HBD is a kind of dept in hive. Every HBD can be swapped into hive and the more the relationship between Hive and HBD becomes HBD heavy, the more this is an issue. The haircut level is to make sure that we don't go further down this road. It's basically here to protect hive.
Thanks for the explanation.
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