I agree with a lot of things in there, but not everything.
1/ 6% is brutal and will trigger massive conversions. 15% is pretty high so there's so margin to get it down, but it should be done slowly and carefully.
2/ 3-month proposals are unsustainable unless you have the support of the biggest whales. It takes us over a month to gather enough support. What you're proposing will actually penalize community-supported proposals rather than those supported by the select few.
3/ Some projects (of course, I am biased, but not only talking about Keychain) have the potential to help Hive bridge with the rest of the ecosystem and help us develop further. Killing all development is basically giving up.
Other than that, I mostly agree about better selecting what deserves funding, holding projects accountable, and changing the way VP works.
Appreciate your valuable input Stoodkev!
We think it is likely that with the Haircut looming, many conversions will happen regardless of the HBD APR. but also agree that 6% is low. the idea behind this is that we also dont think that we will go to 6% even at all. but hope that this triggers a move slightly lower so that we are protected from excessive inflation should the price go lower from here. We hope it will even out somewhere around 8-12% range.
we are currently in a situation where 4 or so projects are funded for the next 6 months or so and i dont want to calculate the affect of the inflation at these low hive prices that will result from the funding that is already approved, its eye watering. Maybe there is a better way here / compromise on how to do this, but huge proposals that last for a year also cannot continue and have us remain a credible chain. the other thing that can happen here is that proposals can plan 1-2 months ahead and start early lobbying for votes. But am open to other suggestions on how to do this while both minimising risk to Hive due to inflation at low hive prices, while also making it easier to lobby for votes in a timely manner. maybe a DHF review committee could help with this function?
i agree that some things should be gotten to the point of shipping that are still WIP and will have a large positive affect on the eco system. We should probably have a go at identifying these things and figuring out what we can afford to ship / low hanging fruit while making a go at not issuing too much more fresh money from the DHF
I dont think we are saying to give up at all. This strategy should be a temporary thing, as we are teetering on hyper inflation, and it is always better to take action that allows things to live to fight another day in my opinion. Also many of the products on hive are great already as they are and far outperform much of what is out there. i think hives products and tools are strong already and can make a huge impact IF marketed in a smart way (which we have not been great at so far).
Sincerely appreciate your input here. Keen to talk more with you and look at ways to build the highest result, lowest cost stuff while doing what we can to limit the inflation
It's good to talk about these things, glad we're having this discussion.
1/ maybe, though I've done this many times it's a long and thankless task when you don't have the support of the biggest whales. I guess I'll just have to get back to it since we've just lost our funding.
3/ I was mostly talking about devs being employed by the projects, not project owners.
1/ seems ur funded again
3/ im referring to both. stake holders diluted to keep "talent" around is a totally unacceptable scenario to both the reputation of Hive builders and stake holders. Like i say, DHF outflows must be cut, and we can maybe find a balance where everyone can win and the people both voting for and receiving DHF outflows may have a chance to save their reputations as people who can avoid Zumbabwe style money printing into oblivion. Have no doubt that the votes and DHF outflows are on chain and everyone can see who is contributing to the situation.
Keychain is more essential than most other projects. I want to keep supporting peakd and ecency but I want to see ALL projects to seek self sustainability seriously and make asks that consider what hive can sustain at the moment rather than just what they think they deserve.
Self sustainability isn’t easy but I don’t feel any projects take it seriously. This is why I unvoted most proposals today. Keychain I kept.
Much appreciated!
Self-sustainability is indeed the goal, but it's really hard as things stand. We barely make 1k HBD on a good month with our swap services, due to how small the volumes are. That's why we've decided to try and connect Hive to the broader ecosystem by becoming multichain. These things take time but if we continue operating in isolation it's going to be hard to survive.
I didn’t know you were working on cross chain. That sounds like a good plan. I feel better about hives future knowing you are moving in that direction, we need some more role model projects that achieve self sustainability!
I can see how it might scare some DHF voters because it looks like a project could get a big boost from the DHF and then quickly abandon hive when they achieve success that isn’t tied to hive (dtube comes to mind though I don’t know the full story) , but this kind of fear has also held us back. I hope projects find ways to build and keep that trust and make moves towards more cross chain and cross community development.
Perhaps there were reasons people didn’t trust Leo to do this, but their overall plans and ideas during the early iteration of their most recent DHF push were the most innovative and potentially sustainable at Hive so far. I wish their critics would recognize that at least, whatever other criticisms they may have. Good ideas are good ideas.
I really hope ecency and peakd can find some method of self sustainability that works. Great work and Hive needs them but I don’t think it should be expected to support them forever.
Hive keychain may be my favorite project at hive though even if it’s not one I think about often, it’s like well functioning connective tissue that we were missing before. I’m not sure I’d still be here without it! Thank you!