(If you are not familiar with the HBD stabilizer, please review my previous posts.)
For the next proposal, I will be maintaining the existing budget for the stabilizer, which is 500 HBD per hour. To review, this budget is used to buy or sell HBD depending on the current market price (below or above 1 USD), with the proceeds entirely returned to the DHF. Accordingly, there is no actual "cost" to the DHF. In fact, previous proposal have returned more to the DHF than was paid out. @dalz has made several posts reporting on the flows and estimating the net profit to Hive as being millions of dollars.
Over the past six months, I assess that the stabilizer budget has not been sufficient to fully stabilize HBD. There have been periods where market forces sent the price of HBD 5-10% away from 1 USD, occasionally even more. Though in every case these deviations have been relatively short. Third party speculators, along with the ongoing stabilizer trades, have contributed to bringing the HBD price back to 1 USD.
As I have in the past, I urge other community members with the necessary technical skills and community trust to submit their own stabilizer DHF proposals. Having multiple independent proposals will protect the stabilizing process from downtime by any one operator, likely improve stabilization as the proposals compete with each other to trade on deviations from 1 USD, and also allows for a higher aggregate budget without increasing the risk of any one operator stealing the budgeted payments before sending them back (or being hacked). Any interested community members are welcome to make use of the open source pseudocode algorithm used by the existing stabilizer as a template for their own implementation, but it is also likely possible to improve on it.
In addition, the stabilizer continues to receive a few thousand HBD per day from daily votes on the ten @hbd.funder comments, by which the global reward pool funds can be directed to the stabilizer and then back to DHF. Voting for these comments is another way to support HBD stabilization.
As noted in previous reports, we've seen HBD continue to be used for transactions for a variety of goods and services, both online and offline. I would encourage the Hive community to continue to expand use cases for HBD as well as developing new ones. These can add a lot of value to Hive both directly and indirectly.
Many people were skeptical that we would be able to stabilize HBD at all, now that we have done so quite effectively for over two years, let's show the world what it can be used for!
The existing proposal will end and the updated continuation proposal will start in a few days. If you support continued operation of the HBD stabilizer, please vote promptly for the new proposal:
Proposal number 308
Hivesigner link to approve
Peakd proposal link
Ecency proposal link
100% beneficiary to @hbdstabilizer
Have already voted the new proposal.
Thank you for your continued outstanding work.
Where can the public see the record-keeping for this project?
All activity can be seen on the blockchain itself, for example viewed here https://hiveblockexplorer.com/@hbdstabilizer
Thanks for that, but it doesn't mean anything to me. Is there a balance sheet we can see?
There is no balance sheet, because it doesn't keep any assets. Everything is returned as soon as the blockchain allows it.
You should probably read the earlier posts to get a better understanding of how it works.
I think you are correct; I'll need to read up on it and try to understand it.
When I looked at the link results you previously sent me, it all seemed to be going one way. I was expecting to see each entry with an in and an out, but if all trades are only going one way for several days then all trades might go the other way for several days at a later time.
Yes it depends on the market price of HBD.
But now the price of HBD is above the dollar. Contributing very well to keeping the price of HBD stable. I will call you successful. But the fund needs to be increased
As of this moment it is about 0.9993 (the exact number depends how you weigh quotes from different exchanges). Sometimes it is above or below one dollar.
Very good work and I hope it remains stable for all time 😁
Wow, I didn't know there was a whole system behind it to support the HBD, excellent
Thank you!
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STOPcảm ơn
🤩 !PGM
Supported!
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STOPI have successfully voted sir👍👍👍, nice one
I love hive and hbd and to see how they are growing in the ecosystem is great, full support to your project :3