Renewal of the HBD Stabilizer Proposal
In order to maintain the operation of a crucial component of Hive's financial infrastructure, I am pleased to announce the renewal of the HBD Stabilizer proposal for the upcoming two months. This proposal ensures the continued support of the Hive Backed Dollars (HBD) price stability, a key aspect in promoting the overall economic health of our blockchain ecosystem.
The HBD Stabilizer
The HBD Stabilizer is instrumental in mitigating price volatility and reinforcing the financial strength of the Hive network. This tool has consistently proven effective in sustaining economic stability, as outlined in @smooth's previous posts.
The HBD Stabilizer is an important tool to maintain the Hive Backed Dollars (HBD) price stability. It serves as a significant mechanism in ensuring the stability of our blockchain's economy.
The entire budget sent to the stabilizer is used for trading in accordance with its charter before being returned to the DHF.
If HBD exceeds the target value, the stabilizer sells HBD to try to reduce the value, which also generates a profit for the stabilizer and the profit is returned to the DHF. If the value is more than $1.05, the stabilizer will also start to convert HIVE into HBD, which removes HIVE from circulation and also produces more HBD that can be sold potentially with a profit for the community.
By mitigating the HBD price volatility, it has contributed to the financial health and robustness of the Hive network. You can read the details provided in @smooth's post for more insights into the project's objectives and achievements ([1] [2] [3]).
Community Call to Action
The previous proposal has already expired. I urge every member of the Hive community to show their support by voting to renew the proposal.
Your support and participation are important for maintaining the financial stability of our blockchain. Every vote contributes to the effective operation of this service.
This renewal will carry the same terms as before, with the proposal running for the next two months and requesting the same funding amount from the Decentralized Hive Fund (DHF) directed to the designated beneficiary.
This proposal is planned to run for the next 2 months and will mirror the current terms, requesting the same amount of funding and directing the funds from the Decentralized Hive Fund (DHF) to the same beneficiary.
Let's collaborate to enhance the stability and prosperity of our Hive network.
Thank you for your support.
Support This Proposal:
- Vote for the proposal (#363) on Peakd.com
- Vote for the proposal (#363) on Ecency
- Vote for the Proposal (#363) on Hive.blog / https://wallet.hive.blog/proposals
- Vote for the Proposal (#363) using HiveSigner
Thank you!
If we have to pay to keep HBD stable maybe we should do away with it. Seems like it's a drain on Hive.
I am honestly surprised it has held up like it has. I am bullish on HIVE just because of the way this thing is addressed by the many different communities on HIVE. We are all very different people on HIVE, so when "a lot" of us find commonality, I think that is interesting and worth paying attention to.
HBD is slowly becoming one of the biggest and most important things on HIVE; holding HBD to peg is top of most people's minds.
I have been buying HIVE and upvoting comments that go to the HBD stabilizer because that is the only way I can "help." I doubt what I am "doing" has any serious impact.
HBD conceptually is cool, but there have been an insane amount of investment on ETH stable coins that are backed by assets not an algorithm.
Algorithm based stables have a bad history in Crypto and fiat; and it typically does not end well. I am not saying anything bad will happen to HBD but I would be lying if I said I was not concerned.
HBD holding up like it has, is nothing short of amazing..... But that just makes me think maybe it is asset backed after all.
If we had no HIVE inflation to pay for this, where would the money come from?
I have no idea.
That makes sense. I do think we have cost of capital though, I don't know how we could calculate it but it may be possible to calculate it.
I am not saying we should do this, but is there any reason we just have a stabilizer and we don't try to back it with other stable coins? (In my gut I want to say try to back it with bitcoin but it feels risky 🤣)
Somebody would need to hold the coins, increases counterparty risk.
That's a really good reason not to do it!
So what do you recommend this proposal should be supported or not for now.. Ok I see you are supporting it. Cheers
I support this proposal and am upvoting things that support the HBD stabilizer.
I am not the right person to advocate for a change on this front. But I do want to use HIVE more and discord less so I am just speaking my mind here.
I am open to debate this and be proven wrong on chain. I think that makes the most sense so at least we have some record of people's thought process.
You are though, we all are. HBD should be slowly moved out. It’s killing Hive via stabilizer! !LADY !ALIVE !PIZZA
It is a common belief on Discord!
Not enough people talk about it in a big way on HIVE so there really is no good consensus on where most people sit on this front. Discord talk and not HIVE talk creates a fog when trying to understand people's perspective on governance. In my opinion!
Cheers to you too!
The artificial pegs will break in time, but while it exists it will continue putting massive sell pressure on Hive. HBD has its on chain purposes, but there is a big crowd fighting for HBD to be the next big stable coin in mainstream commerce, this is a dream and never happening in real life. One dev keeps shouting HBD will be the biggest stable coin ever in a few years, this is nonsensical. Hive price continues to get crushed and held down by the extra pressure to keep HBD stabilizer, it will come to a head. !PIZZA !LADY
This isn't "pay", it's just a source of working capital. The funds are all returned to the DHF, usually with a profit.
We don't have to pay to keep HBD stable. It's just providing funds that are returned to the DHF to increase liquidity and stabilize HBD
It indeed puts downward sell pressure on Hive!
Massive drain on Hive! Daily and regularly!
It’s ridiculous that one major dev is telling people HBD will soon be the main stable coin for Bitcoin network, it’s laughable. HBD has had its place for a portion of rewards but the crowds pretending HBD itself will bring us to mainstream are laughable! !PIZZA !LADY
Thanks for doing this arcange. I'm voting in favor.
BTW, the stabilizer continues to operate without DHF funding because it gets post funding via @hbd.funder comments and occasional other posts people beneficiary to @hbdstabilizer.
I voted too. Thanks for reminding everyone 👍🏻
Thank you for your support @bombus.
!BEER
View or trade
BEER.Hey @arcange, here is a little bit of
BEERfrom @pixresteemer for you. Enjoy it!If you like BEER and want to support us please consider voting @louis.witness on HIVE and on HIVE Engine.
It's done 😎 Thank you very much for your work on this platform 👍
Thank you for your support @cajiro
Potato dragon activate!
Thank you for your support @hurtlocker
Of course! Makes a lot of sense to me to support it.
Thanks!
Done!
Thank you for your support @papilloncharity
Always! :)
Done!
This vital proposal needs as many eyes on it and votes on it as possible!
This is not about the good old days, this is simply about sound economic policy.
Thank you for your support @creativeworkhour
I support this proposal and I recommend that others take the time to look it over and make their own decision. I think the HBD stabilizer is a net positive for HIVE.
Thank you for your support @kenny-crane
Will there be any changes to the HBD APR?
No, the HBD stabilizer won't affect the HBD APR
I see, that's good.
I support you... hahaha I don't understand anything but I trust @arcange
Thank you for your support and trust @angeluxx
💕
Supported and Done.
Best wishes.
Thank you for your support @suzn.poudel
Supported!
Thank you for your support @hirohurl
You're welcome! 🤗
$PIZZA slices delivered:
geneeverett tipped solominer
@geneeverett(5/20) tipped @hurtlocker (x2)
Join us in Discord!
Voted!
Thank you for your support @seckorama
Thanks. Your efforts in this direction are important to me. Merry Christmas and Happy New Year!
Muy bien 😍👍🏻👍🏻👍🏻